Europe Intelligence Wire articles from April 2004

Europe Intelligence Wire archives from April 2004

Europe's eastern promise.
April 30, 2004... (From Lloyds List) Byline: Cyprus and Malta add maritime muscle to EU, writes Justin Stares in Brussels SEVENTY-two million people become European Union citizens tomorrow in an eastward enlargement which takes the bloc towards its...

Spain eases Mangouras bail terms.
April 30, 2004... (From Lloyds List) Byline: Brian Reyes in Gibraltar THE Spanish judge investigating the Prestige case has agreed to relax bail conditions on the ship's Greek master, Apostolos Mangouras, and allow him to report to police weekly...

Business Briefs.
April 30, 2004... (From Lloyds List) Wan Hai soars TAIWAN company Wan Hai Lines has seen a storming first quarter with net profit jumping from T$787.9m (US$23,600) to T$1.14bn as intra-Asia trade volumes picked up, writes Sam Chambers in Hong Kong... .

Evergreen boost after restructure.
April 30, 2004... (From Lloyds List) THE restructuring of Evergreen Marine appears to be paying dividends, writes Sam Chambers in Hong Kong. The Taiwanese liner company estimates it will more than double net profit this year to T$7.46bn (US$22m),...

Halliburton plunges into the red in first quarter.
April 30, 2004... (From Lloyds List) HOUSTON oilfield services company and government contractor Halliburton has reported a net loss of $65m for the first quarter of the year, compared with earnings of $43m in the same three months of 2003, writes John...

Trico Marine downgrade hits shares.
April 30, 2004... (From Lloyds List) TRICO Marine's share price on the Nasdaq slipped to just 46cents on Wednesday after Standard ' Poor's placed its CCC+ rating on 'CreditWatch with developing implications', writes John McLaughlin. S'P said the move...

Loss reserves rise hits Markel result.
April 30, 2004... (From Lloyds List) Byline: James Brewer RESULTS at Markel International, the London operation of Virginia-based Markel Corp, have been dented by the company setting aside $30m in the first quarter of 2004 against possible claims...

Shipping's share slide continues.
April 30, 2004... (From Lloyds List) SHIPPING shares continued to come under pressure yesterday following a warning by China's premier Wen Jiabao that the country needed to take forceful action to prevent its economy overheating, writes Tony Gray. ...

K'N to move 25% of its boxes by rail.
April 30, 2004... (From Lloyds List) Byline: Roger Hailey Freight forwarder K'hne ' Nagel is to switch 200,000 UK maritime container movements a year from road to rail by 2007. Swiss-based K'N handled 1.25m containers systemwide last year and is...

European shipowners need more help from EU to go green.
April 30, 2004... (From Lloyds List) EUROPEAN shipowners need concerted assistance from their national and European Commission regulators to become more environmentally friendly, writes Hugh O'Mahony. Speaking at the Green Ship Technology conference...

CMB fined over 10-year-old breach.
April 30, 2004... (From Lloyds List) Byline: Cewal liner services case comes back to haunt Belgian company that thought the affair had been finally settled, writes Janet Porter COMPAGNIE Maritime Belge has been fined [euro]3.4m ($4.2m) by the...

TSA denies calling off meeting.
April 30, 2004... (From Lloyds List) Byline: Marcus Hand in Singapore THE Transpacific Stabilisation Agreement says it did not cancel a meeting with southeast Asian shippers in Singapore. The TSA had been due to meet the Federation of Asean...

Minoan back in black and bullish on prospects.
April 30, 2004... (From Lloyds List) Byline: Philip Pangalos in Athens MINOAN Lines of Crete is upbeat on prospects for this year after confirming a return to profit last year as the Greek ferry industry as a whole struggled into the black. After...

Malaysia bans steel exports to halt price spiral.
April 30, 2004... (From Lloyds List) Byline: Namrata Nadkarni SHIPOWNERS that trade in the Malaysian dry bulk market can expect to see a change in imports and exports of steel in the country. The Malaysian government has issued a six-month ban on...

OSG confirms four-ULCC Hellespont tanker deal.
April 30, 2004... (From Lloyds List) OVERSEAS Shipholding Group has confirmed it is partnering Euronav in the acquisition of four modern ultra large crude carriers of 442,000 dwt from Hellespont Shipping in a deal worth almost $450m, writes Tony Gray... .

Drop belies capesize sector's strength.
April 30, 2004... (From Lloyds List) Dry Bulk FOR all the concerns on the dry bulk side, with rates down by as much as a third from historic highs of $110,000, and the alarming economic indicator of surging Chinese steel stockpiles, brokers in Hong...

World Fuel Services earnings edge higher.
April 30, 2004... (From Lloyds List) Byline: John McLaughlin in New York WORLD Fuel Services, the marine and aviation fuel supply specialist, has reported earnings of $6m for the first quarter of this year, up from $5.3m in the same period of 2003....

Black Sea business spices up suezmaxes.
April 30, 2004... (From Lloyds List) Byline: Sam Chambers in Hong Kong Tankers A 'DISAPPOINTING week for owners' was how one London broker described the past few days with under 30 fixtures for suezmaxes completed. Rates softened everywhere...

Tanker Fixtures.
April 30, 2004... (From Lloyds List) CLEAN Arabian Gulf to Japan Berge Ragnhild , 53,000t, W165, May 25. (Charterer not reported) Arabian Gulf to UK Continent Makronissos, 80,000t, $1,900,000 lumpsum May 22. (Addax) Arabian Gulf to Japan...

Bank predicts big reduction in Chinese trade growth over next two years.
April 30, 2004... (From Lloyds List) Byline: Tony Gray China's trade growth, a major influence on freight markets, will decline by more than half during the next two years but still remain relatively strong, the Asian Development Bank predicts. ...

Dutch scrapyard subsidy backed.
April 30, 2004... (From Lloyds List) Byline: EU sanctions help for Ecodock, writes Hugh O'Mahony THE European Commission has sanctioned a [euro]900,000 ($1.1m) subsidy to push forward development of a new shipbreaking yard in the Netherlands designed...

Shell shrugs off earnings fall.
April 30, 2004... (From Lloyds List) Byline: Analysts say oil major has beaten market estimates, writes Martyn Wingrove DESPITE Shell's 18% year-on-year drop in first quarter earnings, to $4.25bn, analysts claim the oil major has beaten market...

Last Word.
April 30, 2004... (From Lloyds List) Some exposure JUST the thing for a City cocktail reception a water feature. Except this one was unplanned. A torrential downpour hit one of the insurance press parties of the year, making coverage all the more...

Mersey Docks on course to build river container terminal.
April 30, 2004... (From Lloyds List) Byline: Dibden decision adds new credence to Liverpool plans, writes Roger Hailey PROPOSALS for a GBP70m ($124.1m) river container terminal at Liverpool, able to handle post-panamax boxships, are on course for the...

Banks grant Alstom reprieve on targets.
April 30, 2004... (From Lloyds List) FRENCH shipbuilding and engineering group Alstom has been given an extra five months to bring its financial performance into line with the targets it fixed itself in the rescue agreement it concluded with its banks...

T'G urges British government to draw up ports strategy.
April 30, 2004... (From Lloyds List) A KEY British maritime trade union has called on the government to produce a port policy strategy, writes Roger Hailey . The Transport and General Workers Union, the largest union representing dock and harbour...

V.Ships secures Club Med 2 contract.
April 30, 2004... (From Lloyds List) Byline: David Osler THE deck and engine management contract for Club Med 2, the cruiseship owned by French- listed tour operator Club Mediterranee, has been won by V.Ships Leisure. The passengership arm of the...

Owners' doubts remain on port waste directive.
April 30, 2004... (From Lloyds List) Byline: Roger Hailey and Rob McKay WHILE the Netherlands will fail to meet tomorrow's deadline for implementation of the European Commission's port waste reception directive, shipowners are considering their next...

Independence is everything.
April 30, 2004... (From Lloyds List) A NEW chairman taking over one of the biggest classification societies is an important industry milestone, and the accession this week of Bob Somerville to head ABS is welcome. Somerville is a strong-minded figure,...

Chorus of disapproval for EU directive on handling ship waste.
April 30, 2004... (From Lloyds List) Byline: It was supposed to introduce uniformity but the EU edict is having exactly the opposite effect. Countries are implementing the rules at different times and in different ways, write Rob McKay , Roger Hailey and...

Rogue operators 'are rewarded for illegal discharges'.
April 30, 2004... (From Lloyds List) WHILE serious oil spills dominate the headlines, studies have shown that most of the marine pollution caused by shipping relates to minor, but routine, operational discharges, not just of oil but of other wastes,...

Hugh O'Mahony takes a look through the archives of Lloyd's List.
April 30, 2004... (From Lloyds List) April 22, 1865 Shipping and Mercantile Gazette* A PROPOSAL is on foot for establishing a society with the object of exploring the Holy Land for Biblical illustration. The promoters of this interesting plan...

A worthy location for Batman and Bridget.
April 30, 2004... (From Lloyds List) Byline: James Brewer takes an inside look at that enigmatic skyscraper you just cannot ignore WATCH out for the next Batman and the next Bridget Jones. Starring in an inevitably dark bat-episode and a yearning...

HANSEN BUNKER MARKET REPORT.
April 30, 2004... (From Lloyds List) HANSEN BUNKER MARKET REPORT - April 27, 2004 Compiled for Lloyd's List by Egil Bjorn-Hansen, Oslo CONTINENT: Firm. AFRICA'MIDDLE EAST: Firm. FAR EAST: Singapore and Korea: steady. Japan closed due to...

Unearthing convincing proof that English wine is no longer a joke.
April 30, 2004... (From Lloyds List) RIGHT, pay attention at the back there! No sniggering. It is time for your English lesson, writes Neville Smith. Global warming might be the slow drip-feed of death to the planet, but to the wine drinker it has its...

Tiny nation harbours big ambitions for the future.
April 30, 2004... (From Lloyds List) Byline: Port growth is key to maritime success, writes Sandra Speares Development of maritime activity in the tiny principality of Monaco looks set to be galvanised by the development of the two ports of La...

Strike Club rides crest of claim and premium rises.
April 30, 2004... (From Lloyds List) FINANCIAL risks associated with delays, particularly in today's strong shipping markets, is something the Strike Club is only too aware of. Calculating how long the good times will last is a matter that few people...

Warning on shortage of space for newbuilds.
April 30, 2004... (From Lloyds List) ROBERT Pucnik of Monaco-based consultancy Petromaritime Consulting detects an upward trend in the oil and gas market although he expresses concern about shortage of space in the shipyards for floating production...

Andromeda on expansion trail with new ships and FSO plans.
April 30, 2004... (From Lloyds List) FLEET expansion continues at International Andromeda Shipping, part of the Galaxy group, which is set to take delivery of a total of five new ships next year. The group expects to take delivery of three 27,500 dwt...

Asian steel boom is good news for reefers.
April 30, 2004... (From Lloyds List) In common with other sectors of the market the reefer side has been improving, reports Bo Rammer of Monaco Shipping Services. While companies are holding off building new reefer ships the fleet is old and more...

IMF report reinforces reputation of high quality financial centre.
April 30, 2004... (From Lloyds List) ONE of the important recent developments in Monaco has been the publication of the International Monetary Fund's assessment of the supervision and regulation of the financial sector. Shipping accountants Moore...

Coup for V.Ships as it lands easyCruise deal.
April 30, 2004... (From Lloyds List) THERE was something of a coup for Monaco shipmanagement giant V.Ships earlier this month when the company was awarded the contract to manage Stelios Haji-Ioannou's new easyCruise venture. The world's largest...

LPG investment fuels success for MC Shipping.
April 30, 2004... (From Lloyds List) LAST year was the strongest year in MC Shipping's history, according to company president Guy Morel. Net income for the year to December 31, 2003 was a record $3,091,155 compared to a net income of $2,241,906 for...

Star Clippers confident as US business starts to return.
April 30, 2004... (From Lloyds List) MONACO company Star Clippers is expecting a good year with bookings up 35%-40% at this point compared with the same time last year. In common with other companies US bookings suffered last year. 'Fortunately...

Flourishing markets put smiles on faces.
April 30, 2004... (From Lloyds List) WITH markets flourishing, clients' appetite for new ships shows no sign of abating, says Nick Dean of Monte Carlo Maritime Services. 'I have never seen a market like this in my life,' Mr Dean says. But he feels...

Fighting for trade is nothing new.
April 30, 2004... (From Lloyds List) Byline: Neville Smith DOES anyone really imagine that going to war to secure oil supplies or to enforce trading influence is a new idea? Conflict rarely happens for just or noble reasons, but to further...

Dry Bulk Fixtures.
April 30, 2004... (From Lloyds List) COAL Mobile to Ijmuiden Bruno Salomon , 65,000t, $22.20 per tonne, fio 5 days sc, May 5-10. (Corus) Ponta da Madeira to Qingdao Amber, 170,000t, $31.00 per tonne, fio scale'25,000t sc, May 25-Jun 5. (Cosco)...

BUNKER QUALITY REPORT - April 22, 2004.
April 30, 2004... (From Lloyds List) BUNKER QUALITY REPORT - April 22, 2004 U'F = unfilterable This Bunker Quality Report is based on samples analysed by DNV Petroleum Services and is an abstract from their more detailed fuel quality statistics...

Light up a pre-Castro Havana just hours after ordering.
April 30, 2004... (From Lloyds List) Byline: Pieter Tesch IF YOU fancy a pre-Castro Havana in optimum smokeable condition to relax after a difficult meeting discussing the Cuban blockade with US clients, you only have to email or phone C.Gars and you...

Gas Market Report.
April 30, 2004... (From Lloyds List) NORTHWEST EUROPE: The large propane market has yet to succumb to the feeling that spring has arrived. It is being held up on the back of a last fling of buying to keep terminals stocked whilst the last of the cold...

Hewlett-Packard Recommends Investing in Bulgaria.
April 30, 2004... (From PARI Daily) HEWLETT-Packard believes that Bulgaria is more dynamic in the introduction of modern technologies than most countries, it emerged after a meeting of president Georgi Parvanov with the company's vice president for the...

Cabinet Restores Annexes to Privatisation Contracts.
April 30, 2004... (From PARI Daily) Byline: Valentin GEORGIEV TWO years after the Bulgarian parliament revoked the annexing of privatisation contracts, the government restored the option - though in a limited number of cases - with amendments to the...

IHB Issues BGN 5.25m Convertible Bonds.
April 30, 2004... (From PARI Daily) THE ISSUE of BGN 5,250,808 worth of convertible bonds of Industrial Holding Bulgaria (IHB) was approved by the Financial Supervision Commission. The bonds have a par value of BGN 1.0, a coupon rate of 6.0% and a...

WONUC Protests against Kozloduy Units 3, 4 Closure.
April 30, 2004... (From PARI Daily) THE WORLD Council of Nuclear Workers (WONUC) will organise an international protest against the closure of units 3 and 4 of Bulgaria's nuclear power plant at Kozloduy, Andre Maisseu, WONUC president, told a news...

Bulgaria, RSA Avoid Double Taxation.
April 30, 2004... (From PARI Daily) Byline: Viktoria LAZOVA AN AGREEMENT on avoiding double taxation between Bulgaria and the Republic of South Africa (RSA) was signed by deputy finance minister Ilia Lingorski and RSA ambassador Jannie Momberg. ...

CPC to Decide on above BGN 75m Tax Remission.
April 30, 2004... (From PARI Daily) BULGARIA'S Commission for Protection of Competition (CPC) will decide on the remissions of profit tax of above BGN 75 million, according to draft changes to the Corporate Income Tax Act, approved by the government. CPC...

Overgas Invests EUR 15.8m in Gas Network.
April 30, 2004... (From PARI Daily) Byline: Zlatina GEORGIEVA OVERGAS will invest EUR 15.8 million in the installation of gas supply in Veliko Tarnovo, Gorna Oryahovitsa and Lyaskovets (northern Bulgaria), the company said. The construction of the gas...

PHARE Helps Bulgaria for Fiscalis Fees.
April 30, 2004... (From PARI Daily) THE FUNDS for Bulgaria's annual fee payment under Fiscalis programme for the period 2003 to 2007 will come from the state budget and the EU PHARE programme. The annual fee of EUR 122,500 for the current year has been...

Polish President Promises Help for Bulgarian Battalion.
April 30, 2004... (From PARI Daily) Byline: Ekaterina MARCHOKOVA, PARI daily's special correspondent in Warsaw PRESIDENT of Poland Aleksander Kwasniewski has promised to talk to Gen. Mieczyslaw Bieniek, the commander of the international force in...

MTel to Cut Tariffs by 20%.
April 30, 2004... (From PARI Daily) Byline: Mila MARINOVA BULGARIA'S dominant mobile phone operator, Mobiltel, will reduce phonecall prices by nearly 20% from May 3, 2004, company's representatives said. Starting from that day the cellphone operator...

Overgas Headquarters Sees Sudden Prosecutor's Action.
April 30, 2004... (From PARI Daily) Byline: Nadya MARINOVA The company checked up due to investigation in Ukraine AT THE REQUEST of the Ukrainian prosecuting authorities Mario Stoyanov of the Bulgarian Supreme Cassation Prosecutor's Office and...

PPCA to Bring Chimco's Case before Paris Court.
April 30, 2004... (From PARI Daily) Byline: Hristina ANDREEVA in Vratsa BULGARIA'S Post-Privatisation Control Agency (PPCA) will appeal before the International Arbitration Court in Paris to judge the penalties which Chimco's management is to pay...

Growing concern at [euro]1bn expenses bill for tribunals.
April 30, 2004... (From Irish Independent) A REBELLION over the mounting costs of tribunals is set to pile pressure onthe Government after a tough-talking meeting of the Dail Public Accounts Committeeyesterday. The Finance Minister, Justice Minister...

Here's how the Poles prevent trouble at anti-globalisation protests.
April 30, 2004... (From Irish Independent) POLAND'S security services deployed hundreds of police in full riot gear,water cannon were at the ready tucked away in side streets and helicopters clatteredoverhead. So it's probably no surprise that a march...

Archbishop considering compensation fund for abused.
April 30, 2004... (From Irish Independent) THE new Archbishop of Dublin, Dr Diarmuid Martin, is giving seriousconsideration to a compensation fund as a way of providing abuse claimants with analternative to fighting the archdiocese through the courts. ...

Angry insurance brokers defend industry over report.
April 30, 2004... (From Irish Independent) INSURANCE brokers have lashed the Competitions Authority for "sensationalising" a report on the insurance industry. Diarmuid Kelly, chief executive of the Professional Insurance Brokers Association, saidthe...

Embattled TD vows to fight her expulsion from FF party.
April 30, 2004... (From Irish Independent) A DEFIANT Beverly Cooper-Flynn vowed yesterday to fight any moves to expel her from Fianna Fail after she lost her Supreme Court libel appeal. And Ms Cooper-Flynn said her political career "is not over"...

The continental drift.
April 30, 2004... (From Irish Independent) After spending college days travelling and dreaming of an exciting future, Ireland's young hopefuls are becomingdisenchanted with the Irish standard of living. Europe beckons, offering a cultural feast and a...

Credit Suisse Group erwartet fur das erste Quartal 2004 einen Reingewinn von ungefahr CHF 1.8 Mia.
April 30, 2004... (From Hugin) Zurich, 30. April 2004 - Im Zusammenhang mit ihrer heutigen Generalversammlung gibt die Credit Suisse Group bekannt, dass sie fur das erste Quartal 2004 mit einem Reingewinn von ungefahr CHF 1.8 Mia rechnet. Die Publikation...

Credit Suisse Group Expects to Report Net Income of Approximately CHF 1.8 Billion for the First Quarter of 2004.
April 30, 2004... (From Hugin) Zurich, April 30, 2004 - In connection with its Annual General Meeting, Credit Suisse Group today announced that it expects to report net income of approximately CHF 1.8 billion for the first quarter of 2004. The Group's...

Cash offer for Eesti Telekom approved by the Estonian Financial Supervisory Authority.
April 30, 2004... (From Hugin) On April 28 the Estonian Financial Supervisory Authority approved the cash offer by TeliaSonera for all the shares issued in AS Eesti Telekom that TeliaSonera does not already own. The formal notice of the offer will be...

Kontantbud pa Eesti Telekom godkant av Finansinspektionen i Estland.
April 30, 2004... (From Hugin) Den 28 april godkande Finansinspektionen i Estland, TeliaSoneras kontanterbjudande att forvarva samtliga aktier i AS Eesti Telekom, som TeliaSonera inte redan ager. Kungorelsen om erbjudandet publiceras i estniska...

Swissport erhalt die bedeutende Auszeichnung "Beste global tatige Flughafen Bodenabertigungs-Firma 2004".
April 30, 2004... (From Hugin) Zurich-Flughafen, 30. April 2004 - Bereits zum vierten Mal in Folge kann sich Swissport International als Marktfuhrer in Szene setzen und den prestigetrachtigen Award gewinnen. Gleichzeitig kundigt der fuhrende...

EDB Business Partner ASA - Annual General Meeting.
April 30, 2004... (From Hugin) The 2004 Annual General Meeting of EDB Business Partner ASA was held on 29 April 2004. The meeting approved the directors' report, profit and loss account and balance sheet, as well as the consolidated profit and loss...

EDB Business Partner ASA - Ordinar Generalforsamling.
April 30, 2004... (From Hugin) Ordinar generalforsamling i EDB Business Partner ASA ble avholdt 29. april 2004. Styrets beretning, resultatregnskap og balanse, samt konsernregnskap og konsernbalanse pr. 31.12.03 ble godkjent. Morselskapets underskudd for...

Swissport earns a further key distinction as 2004 "Global Ground Handling Company of the Year".
April 30, 2004... (From Hugin) Zurich Airport, April 30, 2004 - Swissport International has been named "Global Ground Handling Company of the Year" for the fourth year in succession, confirming its position as market leader in the airport services field....

Swissport obtient a nouveau la remarquable recompense de ' Meilleure societe internationale d'assistance au sol aux aeroports, 2004 +.
April 30, 2004... (From Hugin) Zurich-Aeroport, 30 avril 2004 - Pour la quatrieme fois consecutive, Swissport International s'affirme en tant que leader sur le marche et obtient la prestigieuse recompense. Le plus grand prestataire de services...

News In Brief.
April 30, 2004... (From Irish Independent) Movement of BOI executives BANK of Ireland has announced a number of changes to its Group Executive Committee. John Collins, chief executive of BOI's retail businesses, has been appointed as the group's...

Markets.
April 30, 2004... (From Irish Independent) THE ISEQ Overall Index dipped 12.97, or 0.2pc, to close at 5,417.27 in a session that saw 23 stocks fall, 14 gain and 15 remain unchanged. Elan impressed yet again rising 45c, or 2.3pc, to hit [euro]20. ...

An Post sees [euro]32m loss after tax as costs up 7pc.
April 30, 2004... (From Irish Independent) AN Post has turned in a net loss after tax of [euro]32m for 2003 as a result of operating losses of [euro]43m, less profits from property sales of [euro]13m, on turnover which was 3.7pc higher than in 2002....

Desmond breaks seven-year 'silence'.
April 30, 2004... (From Irish Independent) FINANCIER Dermot Desmond broke a seven-year public-speaking silence in the IFSC last night to deliver on hour-long talk on the future of learning to an audience packed full of Ireland's business A-list. Anglo...

Scanlon had faced 'no confidence' vote.
April 30, 2004... (From Irish Independent) THE General Secretary of the Communications Workers' Union, ConScanlon, faced a motion of no confidence earlier this month which helped prompt his resignation announcement two weeks ago. Details of the...

Providence to raise [euro]18m to develop assets.
April 30, 2004... (From Irish Independent) PROVIDENCE Resources, the exploration company controlled by SirAnthony O'Reilly, expects to raise up to [euro]18m over the next few months, to develop itsIrish and UK offshore assets, shareholders were told...

Phone card licensees to attack unfair 'bandits'.
April 30, 2004... (From Irish Independent) SO-CALLED 'bandit' phone-card suppliers are driving out authorised sellers from a market worth [euro]50m a-year. Reacting to telecom regulator ComReg's new guidelines on international phone cards,Irish...