Royal Caribbean upbeat on outlook after Q2 profits jump NORWEGIAN-American cruise line Royal Caribbean Cruises posted a sharper gain than expected in second-quarter profits, helped by higher prices, and hiked its 2004 earnings guidance.
Mitsui OSK seeks to reduce costs further SINCE 1998, when an extensive cost cutting drive started, Mitsui OSK Lines saved almost US$400 million in its container operations.
Mitsui OSK sets up new NZ subsidiary MITSUI OSK Lines president Akimitsu Ashida has announced the setting up of a new subsidiary Mitsui OSK Lines Ltd, from Aug 1.
Tanker catches fire in Indian Ocean A Singapore-registered petroleum tanker, Setia Jaya, caught fire in the Indian Ocean earlier this month, killing five crew members and leaving one missing, the Maritime and Port Authority of Singapore said late yesterday.
TANKER RATES FREIGHT rates for very large gas carriers, the biggest ships that carry liquefied petroleum gas, rose last week as near-record Opec oil output boosted exports of gases made from refining crude.
Air and Land Transport
Airline traffic may grow more than expected in 2004 AIRLINE passenger traffic on international routes may grow by more than 10 per cent in 2004, more than forecast earlier, helped by economic growth, an airline trade group said.
Ghana Airways service to and from US stopped
India's Kingfisher to buy 12 A320 jets
Valuair to add 2 planes to meet rising demand
Thai Airways to buy 14 planes by 2010 in route expansion plan
US Airways profit soars but deep cuts still needed
Royal Caribbean upbeat on outlook after Q2 profits jump NORWEGIAN-American cruise line Royal Caribbean Cruises posted a sharper gain than expected in second-quarter profits, helped by higher prices, and hiked its 2004 earnings guidance.
Mitsui OSK seeks to reduce costs further SINCE 1998, when an extensive cost cutting drive started, Mitsui OSK Lines saved almost US$400 million in its container operations.
Mitsui OSK sets up new NZ subsidiary MITSUI OSK Lines president Akimitsu Ashida has announced the setting up of a new subsidiary Mitsui OSK Lines Ltd, from Aug 1.
Tanker catches fire in Indian Ocean A Singapore-registered petroleum tanker, Setia Jaya, caught fire in the Indian Ocean earlier this month, killing five crew members and leaving one missing, the Maritime and Port Authority of Singapore said late yesterday.
TANKER RATES FREIGHT rates for very large gas carriers, the biggest ships that carry liquefied petroleum gas, rose last week as near-record Opec oil output boosted exports of gases made from refining crude.
Air and Land Transport
Airline traffic may grow more than expected in 2004 AIRLINE passenger traffic on international routes may grow by more than 10 per cent in 2004, more than forecast earlier, helped by economic growth, an airline trade group said.
Ghana Airways service to and from US stopped
India's Kingfisher to buy 12 A320 jets
Valuair to add 2 planes to meet rising demand
Thai Airways to buy 14 planes by 2010 in route expansion plan
US Airways profit soars but deep cuts still needed
Oil prices ease as Yukos oil sales continue No immediate threat to Yukos oil sales, but core production unit is not safe from bailiffs.
Valero more than doubles Aruba bunker sales US refining giant's refinery changes in Aruba propel bunker sales following El Paso acquisition amid record company profits.
Saudi production hike swelling fuel oil supplies Surge in Saudi production since June has softened prices for Arab heavy crude against higher-quality light crude.
Hong Kong sales 'down 20%' as OPL ban reaches 2 months No word from authorities on alternative OPL plans as suppliers reflect on long-term prospect of significant drop in sales.
Rotterdam a bit firmer amid continued congestion
Suppliers accuse buyers of 'unreasonable' debunkering Suppliers claim some owners are exploiting the system in making unreasonable debunkering claims.
Argentina: Force majeure on barge deliveries Local barge operator declares force majeure on deliveries due to strike.
Thai oil bridge 'more costly' than Straits shipping Report shows that the proposed Thai oil land bridge would make oil transhipment more costly than the existing shipping route through the Malacca Straits.
Lloyd's axes war risk ratings as EU toughens competition law LLOYD'S and the London market have ended one of their historic services ' providing guidance on cargo rates in areas deemed to be subject to war risk ' as a result of concerns over the increasingly tough insurance regulatory environment.
Shell hit with $150m fines but markets see positives ROYAL Dutch/Shell has been hit by fines of more than $150m levied by US and British regulators, following investigations into its overstatement of reserves earlier this year.
Deal turns GNV from prey to predator PRIVATE equity firm Permira is to buy Aldo Grimaldi's Grandi Navi Veloci in a '522m ($621m) deal that looks set to spur further consolidation in the European cruise-ferry market.
Intertanko updates vetting questionnaire INTERTANKO has launched a revised edition of its all-embracing ship vetting questionnaire which it developed in co-operation with Fritz Heidenreich's Q88.com.
Docker Daggett arrested by FBI A senior longshoremen's union official was arrested by the Federal Bureau of Investigation this week on charges that he is linked to organised crime, writes John McLaughlin in New York.
Grandi Navi Veloci sale completed GRIMALDI Holdings has completed the sale of ferry operator Grandi Navi Veloci to Vento SpA, a special-purpose vehicle in which London-based private equity investor Permira holds an 80% stake
Chiquita leaves LB for Hueneme CHIQUITA Brands International will relocate its US West Coast port operations from Long Beach to the Port of Hueneme, 80km north of Los Angeles
Top dockers arrested in Mafia link THE FBI yesterday arrested one of the International Longshoremen's Association's top officials on charges of ties with organised crime and alleged corruption
Costa fixes Ancona COSTA Crociere has chosen Ancona as its main transit and boarding port on the mid-Adriatic coastline for the 2005 season cruises
Maher to run Rupert box terminal PRINCE Rupert Port Authority has chosen Maher Terminals of New York to operate the Canadian port's first container terminal
Poole to deepen entrance channel THE UK south coast port of Poole is looking to invest '8M ($15M) over the next three years to deepen its entrance channel and provide new facilities
HHLA denies ground movement is causing CTA automation failures Management at Hamburg's state of the art facility, Container Terminal Altenwerder (CTA), are denying reports that the terminal has severe operational problems caused by the settlement of reclaimed land.
DAL withdraws from troublesome West Africa trade The Hamburg-headquartered niche carrier Deutsche Afrika-Linien (DAL) has announced that it is withdrawing from the northern Europe-West Africa trade, with immediate effect.
Soaring crude oil price puts pressure on rates
HNN hope scaled down WCT will tip vote in its favour
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