Europe Intelligence Wire articles from December 2006

Europe Intelligence Wire archives from December 2006

BV accused of 'serious breach' of industry ethics by Germanischer Lloyd.
December 1, 2006... (From Lloyds List) GERMAN classification society Germanischer Lloyd has accused its French rival Bureau Veritas of a 'serious breach' of industry ethics over its hostile takeover bid, writes Julian Bray. GL has written to the...

Heerema's $1bn crane vessel will the surpass world's largest.
December 1, 2006... (From Lloyds List) Heerema Marine Contractors has announced a staggering investment of $1bn for the construction of a new crane vessel, one of the largest investments ever in a single ship, writes Helen Hill. The Netherlands private...

Suzuki hits out in Japanese tonnage tax row.
December 1, 2006... (From Lloyds List) MITSUI OSK chairman Kunio Suzuki has lashed out at Japan's ministry of finance for dragging its feet on introducing a tonnage-based tax system for the nations' shipbuilders, writes Mike Grinter in Hong Kong. He...

Infrastructure assets bubble could burst, warns agency.
December 1, 2006... (From Lloyds List) Byline: Scramble for such prizes as ports revives echoes of dotcom era, writes Tony Gray The scramble for infrastructure assets, such as ports, is creating a pricing bubble of dotcom proportions, a leading credit...

Blohm+Voss regulars head back to Hamburg yard.
December 1, 2006... (From Lloyds List) Two of Blohm+Voss Repair's most loyal customers, the 24,475 gt Saga Rose pictured during an earlier visit and the 24,220 gt Maxim Gorkiy are due for regular repair work at the Hamburg yard over the coming weeks,...

Nordcapital finds partner for management venture.
December 1, 2006... (From Lloyds List) GERMAN KG financier Nordcapital has decided against going it alone in the shipmanagement sector and has teamed up with the Norwegian OSM group to set up a joint management company for eight platform supply vessels,...

Attica to exit Baltic by New Year.
December 1, 2006... (From Lloyds List) GREEK ferry operator Attica Group is to complete its exit from the Baltic trades by the start of next year, writes Nigel Lowry and Katrin Berkenkopf. The group disposed of its three Superfast Ferries ropax vessels...

Britain leads crew fatigue fight.
December 1, 2006... (From Lloyds List) Byline: One in four seafarers admits to having fallen asleep on watch, writes David Osler ONE in four seafarers admits having fallen asleep on watch, according to a British academic study that has been six years in...

Navios taps US bond market for $300m.
December 1, 2006... (From Lloyds List) Byline: Refinancing deal could be completed as early as next week, writes Nigel Lowry in Athens Navios Maritime Holdings, the Angeliki Frangou-led dry bulk shipping and logistics company, has revealed plans to raise...

Stora Enso snubs Grimaldi.
December 1, 2006... (From Lloyds List) FINNISH paper giant Stora Enso has used the sale of its 5.4% stake in compatriot and enforced marriage target Finnlines to snub its hostile Italian suitor Grimaldi, writes Jerry Frank. The Helsinki group yesterday...

Skuld expresses frustration over Swedish Club rejection.
December 1, 2006... (From Lloyds List) SKULD P'I Club has admitted that it is disappointed over the rejection of a merger proposal by shipowner leaders of the Swedish Club as analysts speculated on a range of reasons, from the planned establishment of a huge...

Newfoundland in LNG launch.
December 1, 2006... (From Lloyds List) A new liquefied natural gas (LNG) project has been launched in Canada to provide transhipment and storageservices for the North American east coast markets, writes Tony Gray . Newfoundland LNG said its Grassy Point...

Probe on container loss waits for storm.
December 1, 2006... (From Lloyds List) Byline: GL wants further evidence before deciding on what went wrong, writes Janet Porter SHIP inspectors are waiting for the perfect winter storm to replicate conditions that led to several hundred containers being...

Panama Canal upgrade expected to cost US ports billions.
December 1, 2006... (From Lloyds List) Byline: Tampa chief says about 40% of post-panamaxes would be unable to enter east coast ports without improvements, writes Keith Wallis in Hong Kong 'BILLIONS and billions of dollars' will be needed to upgrade US...

BV plays down SGS takeover rumours.
December 1, 2006... (From Lloyds List) FRENCH classification society Bureau Veritas was yesterday keen to play down renewed speculation that Switzerland's SGS may seek to launch a takeover offer, writes David Osler. The rumours, which have boosted...

Rickmers pays fine after fatal accident.
December 1, 2006... (From Lloyds List) Byline: Katrin Berkenkopf in Cologne RICKMERS Reederei has paid a $375,000 fine under a plea agreement with a court in Mobile, Alabama. The Hamburg company accepted responsibility for a fatal accident...

Insurers write off CMA CGM ro-ro box ship Rokia Delmas.
December 1, 2006... (From Lloyds List) THE Rokia Delmas, CMA CGM's ro-ro container vessel which ran aground off the island of Re close to the French Atlantic coast port of La Rochelle on October 24, has been declared a total loss by its insurers, writes...

Energy Briefing.
December 1, 2006... (From Lloyds List) Acergy pipe contract ACERGY has won a $60m contract from ConocoPhillips to lay a 9.4km, 24-inch oil pipeline from the Eldfisk platform to the Ekofisk production complex in the Norwegian sector of the North Sea. ...

Marathon potential.
December 1, 2006... (From Lloyds List) Marathon Oil has highlighted the potential for considerable expansion at its Equatorial liquefied natural gas project, writes Tony Gray . Construction of train 1 was 'on-budget and ahead of schedule' with first...

Microsoft guru invests in Lloyd's.
December 1, 2006... (From Lloyds List) PAUL Allen, co-founder with Bill Gates of Microsoft, and one of the world's richest men, has moved some of his resources into the Lloyd's market in an important new venture for the 2007 underwriting year, writes James...

Expansion of Suez will cause VLCC shake-up.
December 1, 2006... (From Lloyds List) Byline: SCAs waterway plans would allow fully laden VLCCs to use the canal cutting transit times, writes Martyn Wingrove TANKER markets could change radically if the Suez Canal Authority goes ahead with its $1bn...

Tanker Fixtures.
December 1, 2006... (From Lloyds List) CLEAN Vitino to US Gulf Arctic Bay, 37,000t, W270, Dec 16. (Sibneft) Black Sea to Mediterranean Cape Banks, 30,000t, W180, Dec 1. (St Shipping) Black Sea to Mediterranean Bro Erik, 30,000t, W202.5, Dec 4....

Atlantic leads surge in capesize rates.
December 1, 2006... (From Lloyds List) DryTrade THE phrase 'interesting times' in China usually refers to bad things happening. But this was not the case when a Hong Kong broker was referring to capesize rates this week, writes Mike Grinter in Hong...

MSC switches business as dispute hits Greek ports.
December 1, 2006... (From Lloyds List) Byline: Philip Pangalos in Athens AN OVERTIME ban at Greece's main commercial ports of Piraeus and Thessaloniki has led to a backlog of containers and prompted the ports' biggest customer to temporarily switch some...

Dry Bulk Fixtures.
December 1, 2006... (From Lloyds List) ORE Ponta da Madeira to Dunkirk NYK vessel to be nominated, 150000t, $19.00 per tonne, fio 7 days sc, 22-31 Dec. (Mittal Shipping Lond) Ventura(175,000 dwt, 14.25'60L(A) 15.5'60B, 2006-built) delivery Continent...

Seconds out for Rotterdam rumble?
December 1, 2006... (From Lloyds List) Byline: This year's Shipper Forum held in Amsterdam last week may have been knee deep in olive branches, but can the two sides really stop verbal fists from flying, wonders Janet Porter WHEN the European Shippers'...

Dumbing down cruising.
December 1, 2006... (From Lloyds List) It is perhaps unsurprising that something of a fierce backlash against the disappearance of the brand of Swan Hellenic, which has 'done cruising' for people who otherwise would not have been seen dead on a cruiseship,...

A sociable Bunch to help you through the festive season.
December 1, 2006... (From Lloyds List) Byline: Merchants' group represents the cream of British independents, writes Neville Smith THERE are many things you might get for Christmas but on the Vino Veritas desk we already know what we want. This, it will...

West coast ports squeeze through congestion gap.
December 1, 2006... (From Lloyds List) Byline: Janet Porter CONTAINER ports along the North American west coast have managed to get through this year's peak season without any serious delays but only just. That is the view of the world's largest...

Gas Market Report.
December 1, 2006... (From Lloyds List) NORTH WEST EUROPE: Large propane cargoes have picked up for December, especially after the first decade with levels talked in the high $480s'low 490s. However, end November and early December trades are still looking at...

'Horrors of Alang I can never forget'.
December 1, 2006... (From Lloyds List) Byline: One of the few women campaigning against shipbreaking abuses in India tells James Brewer how she was moved to prioritise the industry as a target for drastic reform efforts MADHU Dutta had become used to...

Agency battle hots up in western Mediterranean.
December 1, 2006... (From Lloyds List) A BATTLE for market share is looming in the western Mediterranean as several firms in the highly competitive cruise and yacht agency business look to expand their operations. In October a resurgent Medov Italy and...

Bottlenecks may hinder Asia box growth.
December 1, 2006... (From Lloyds List) Byline: Summit told that infrastructure is failing to keep pace with increasing containership volumes, writes Keith Wallis in Hong Kong INTRA-Asian box traffic will remain robust as China and countries in southeast...

US demand pushes up transatlantic rates.
December 1, 2006... (From Lloyds List) Tankers CLEAN tanker rates in the transatlantic market rose sharply on midweek due to an increase in demand to ship heating oil to the United States, brokers said. The rates for 37,000-tonne capacity tankers for...

Don't fall for Finney's 'confused' perspective.
December 1, 2006... (From Lloyds List) Byline: Letters To The Editor From Jeremy Harrison SIR, It is hard to believe after reading Nicholas Finney's comments on the evidence sessions at the Transport Select Committee, 'Low level of response pours...

Bunker operators in region are expanding.
December 1, 2006... (From Lloyds List) CARIBBEAN bunker operators are in expansion mode, with plans under consideration to increase storage, loading and service capacities as well as investing in refining capacity to meet clean fuel specifications. ...

SeaCard extended to online spot market.
December 1, 2006... (From Lloyds List) THE US Defense Energy Support Centre's SeaCard online bunker procurement system will be extended to an online spot market from the first quarter of next year, writes Neville Smith in Puerto Rico. The centre awarded...

DNVPS BUNKER QUALITY REPORT.
December 1, 2006... (From Lloyds List) BUNKER QUALITY REPORT 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 publication which...

Hansen Weekly Bunker Report.
December 1, 2006... (From Lloyds List) BUNKER MARKET REPORT Nov 28, 2005 Compiled for Lloyd's List by Egil Bjorn-Hansen, Oslo CONTINENT: Stable. AFRICA'MIDDLE EAST: Stable. FAR EAST : Stable. USA: Generally stable markets. ...

Career change from salvage tug to superyacht.
December 1, 2006... (From Lloyds List) IT is HARD to imagine the likes of oil-cum-football mogul Roman Abramovich or the nouveaux riches sailing in a converted oceangoing salvage tug launched in 1973 into Monte, the Caribbean or any other of the world's...

Big two set to dominate cruise in Caribbean.
December 1, 2006... (From Lloyds List) Byline: Carnival and RCCL eye southern ventures, writes Neville Smith in Puerto Rico CRUISE traffic growth in the Caribbean will be concentrated around the majors Carnival and RCCL, with competition pushing operators...

Klyne Tugs wins two-year ETV contract extension.
December 1, 2006... (From Lloyds List) THE Maritime and Coastguard Agency has awarded Klyne Tugs (Lowestoft) a two-year extension to the contract to provide emergency towing vessels in four strategic areas round the British coast, writes Jack Gaston. ...

Expro sees double as sales rise.
December 1, 2006... (From Lloyds List) SURGING demand for subsea equipment and the acquisition of Power Well Services have helped to double Expro Group's six-month operating profits, writes Martyn Wingrove. The London-listed oilfield contractor reported...

AIC and ITS both claim victory in cargo case.
December 1, 2006... (From Lloyds List) Byline: Judge overturns deceit charge but court also backs original ruling, writes Roger Pearson BOTH sides were claiming victory in the long-running battle between AIC and ITS Testing Services (UK) after judgment...

Weak dollar drives West African car demand.
December 1, 2006... (From Lloyds List) A WEAK dollar has given a welcome boost to one of the world's more difficult trades, writes Janet Porter. Demand for secondhand American cars and other US vehicles is booming in West Africa. Whereas depreciation...

Petrotrin mulls code for bunker samples.
December 1, 2006... (From Lloyds List) TRINIDAD's major bunker supplier Petrotrin is considering implementing a code of practice for bunkering operations similar to the CP60 programme in place at Singapore, writes Neville Smith in Puerto Rico. Marketing...

Last Word.
December 1, 2006... (From Lloyds List) A silver lining They say there is a silver lining behind every dark cloud. This could be true for the port of Dover after the chaos caused throughout Kent by the snarl-up on the M20 motorway as a result of yet...

British cruise numbers set to soar.
December 1, 2006... (From Lloyds List) ABOUT 1.25m British holidaymakers are expected to take a cruise this year, an increase of 17%, according to latest figures from the Passenger Shipping Association, writes Sandra Speares. It says: 'The increased...

World Briefing.
December 1, 2006... (From Lloyds List) Right on, Bush US President George W Bush praised Prime Minister Nuri al-Maliki as the 'right guy' for Iraq and said he agreed that partitioning the country would only increase violence. The comments came after...

4 Airplanes Checked for Radiation.
December 1, 2006... (From The Moscow Times) British authorities said Thursday that they suspected at least four aircraft of being contaminated with radiation, including planes that made trips between Moscow and London, in the latest twist in the death of...

Higher Electricity, Gas Prices Approved.
December 1, 2006... (From The Moscow Times) The Cabinet on Thursday agreed to let gas and electricity be sold at market prices in four years, approving a much-delayed plan that should avert an energy crisis and keep utilities fees in check until after the...

From TV Plant to Secretive Business Empire.
December 1, 2006... (From The Moscow Times) Billionaire Suleiman Kerimov, who was seriously injured after crashing his Ferrari in France last Saturday, went from balancing the books at a television factory in Dagestan to controlling an intensely secretive...

Russia Hems and Haws on Kosovo Independence.
December 1, 2006... (From The Moscow Times) Russian officials said Thursday that Moscow would recognize Kosovo independence only after Serbia did, adding that Kosovo should negotiate one-on-one with Belgrade. "We once again decisively called on Pristina...

Foreign Vendor Ban Scores High.
December 1, 2006... (From The Moscow Times) Seventy-five percent of respondents in a recent poll supported the government's plan to phase out foreign traders in markets and small retail outlets, Interfax reported Thursday. The poll, conducted in late...

New Turbine Stands Idle at Power Plant.
December 1, 2006... (From The Moscow Times) Gazprom is refusing to provide natural gas to a $375 million turbine unveiled this week at the NorthWest Thermal Power Plant, the plant's chief said Thursday. That means the 450-megawatt machine is standing...

Democracy for Everyman.
December 1, 2006... (From The Moscow Times) To Our ReadersThe Moscow Times welcomes letters to the editor. Letters for publication should be signed and bear the signatory's address and telephone number. Letters to the editor should be sent by fax to...

A Tall Building With a Very Deep Problem.
December 1, 2006... (From The Moscow Times) The winning design in a competition to build a 300-meter high office tower for Gazprom Neft in St. Petersburg was to be announced on Friday. The story has received much attention both as a result of Gazprom's...

Hugin Ad hoc announcement according to 15 WpHG: Acquisition: Evotec AG: PerkinElmer to Acquire Evotec Technologies.
December 1, 2006... (From Hugin) Ad-hoc announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- Evotec...

Isle of Capri posts 2Q profit.
December 1, 2006... (From AFX Europe (Focus)) ST. LOUIS (AFX) - Casino operator Isle of Capri Casinos Inc. said Thursday it posted a profit in the fiscal second quarter, benefiting from a gain on property sales and reversing a year-ago loss when results were...

Rite Aid schedules shareholder vote.
December 1, 2006... (From AFX Europe (Focus)) CAMP HILL, Pa. (AFX) - Rite Aid Corp. on Thursday scheduled a stockholders meeting for Jan. 18 to vote on its $2.55 billion purchase of Eckerd and Brooks stores. The nation's third-largest drugstore chain said...

Corporate fraud crackdown gone too far?
December 1, 2006... (From AFX Europe (Focus)) WASHINGTON (AFX) - A former top Justice Department official who wrote the government's policy to crack down on corporate lawbreaking said Thursday that prosecutors appear to have overreached when targeting...

BP refinery faces safety fines.
December 1, 2006... (From AFX Europe (Focus)) WHITING, Ind. (AFX) - Oil giant BP PLC could face more than $384,000 in fines over workplace safety violations at its refinery along Lake Michigan even as the company says it is making "solid progress" to correct...

Report: Payday loans cost at least $4.2B.
December 1, 2006... (From AFX Europe (Focus)) COLUMBIA, S.C. (AFX) - The payday loan industry took $4.2 billion out of consumer pockets in 2005 because states have not done enough to restrict high interest loans and practices that trap people in financial...

Citigroup plans to incorporate China business locally - report.
December 1, 2006... (From AFX Europe (Focus)) BEIJING (AFX) - Citigroup Inc said it plans to incorporate its China operations locally as soon as regulators allow, in order to meet a government requirement on the conduct of local currency retail banking, the...

Japan Oct core CPI rises 0.1 pct yr-on-yr, tamer than forecast - UPDATE.
December 1, 2006... (From AFX Europe (Focus)) - (Adds details throughout) TOKYO (XFN-ASIA) - The core consumer price index, which excludes volatile prices of fresh food but includes energy prices, rose 0.1 pct from a year earlier in October, the Ministry...

Progress in Phila. newpapers' talks.
December 1, 2006... (From AFX Europe (Focus)) PHILADELPHIA (AFX) - Editorial employees at Philadelphia's two largest newspapers picked up picketing assignments Thursday in preparation for a possible strike even as union leaders reported progress in...

England smoking ban to come into force July 1 2007.
December 1, 2006... (From AFX Europe (Focus)) LONDON (AFX) - The ban on smoking in public places in England will come into force on July 1, 2007, said the Department of Health. The ban also covers workplaces as part of the Health Act, which received Royal...

New Dutch pipeline to start bringing gas to UK today.
December 1, 2006... (From AFX Europe (Focus)) LONDON (AFX) - A new North Sea pipeline, which links the UK to the Netherlands, will start delivering gas to Britain today, said the UK's Department of Trade and Industry. The 235 km Bacton-Balgzand (BBL)...

H&R Block 2Q loss grows.
December 1, 2006... (From AFX Europe (Focus)) KANSAS CITY, Mo. (AFX) - H&R Block Inc. on Thursday said its second-quarter loss almost doubled, missing Wall Street expectations as the company's mortgage lending arm continued to hemorrhage cash. The company...

Japan Oct unemployment rate falls to 4.1 pct from 4.2 pct in Sept - UPDATE.
December 1, 2006... (From AFX Europe (Focus)) - (Adds details throughout) TOKYO (XFN-ASIA) - The unemployment rate dropped to 4.1 pct in October from 4.2 pct in September, data from the Ministry of Internal Affairs and Communications showed, matching...

Judge freezes UnitedHealth CEO's options.
December 1, 2006... (From AFX Europe (Focus)) MINNEAPOLIS (AFX) - A federal judge on Thursday froze millions of dollars in unexercised stock options and retirement benefits of outgoing UnitedHealth chief William McGuire until 30 days after a company review of...

UK's Tesco to take over Makro Cash and Carry stores in Malaysia - report.
December 1, 2006... (From AFX Europe (Focus)) KUALA LUMPUR (XFN-ASIA) - Tesco PLC of the UK is set to take over Makro Cash and Carry stores in Malaysia after successfully outbidding others for the retail chain, the New Straits Times newspaper reported. ...

DRAMeXchange - 512Mb DDR2 DRAM spot prices up 0.16-0.80 pct.
December 1, 2006... (From AFX Europe (Focus)) TAIPEI (XFN-ASIA) - The average spot prices of 512 megabit (Mb) DDR2 DRAMs were up 0.16-0.80 pct at the close yesterday compared with Wednesday's closing levels, according to online marketplace DRAMeXchange. ...

Kerkorian selling another 14M GM shares.
December 1, 2006... (From AFX Europe (Focus)) WASHINGTON (AFX) - Dissident General Motors Corp. shareholder Kirk Kerkorian is selling another 14 million shares in the troubled automaker, dropping his stake by a third to 4.95 percent for a price of just...

Marcal files Chapter 11.
December 1, 2006... (From AFX Europe (Focus)) NEWARK, N.J. (AFX) - Marcal Paper Mills Inc., a maker of toilet paper, kitchen towels, napkins and facial tissue, on Thursday filed a voluntary Chapter 11 reorganization bankruptcy petition and blamed rising...

Japan Oct household spending falls 2.4 pct yr-on-yr, smaller than forecast.
December 1, 2006... (From AFX UK (Focus)) TOKYO (XFN-ASIA) - Spending by households in September dropped 2.4 pct in real terms from a year before to an average 294,693 yen, declining for the 10th straight month, the Ministry of Internal Affairs and...

DWP pledges equality for disabled people.
December 1, 2006... (From Government News Network (Was Hermes-Government Press Releases)) ] DEPARTMENT FOR WORK AND PENSIONS DRC 04 1 December 2006 DWP pledges equality for disabled people By 4 December, all public sector bodies have to set out how they...

Christmas 2006 Drink Drive crack down.
December 1, 2006... (From Government News Network (Was Hermes-Government Press Releases)) ] DEPARTMENT FOR TRANSPORT 139 1 December 2006 Christmas 2006 Drink Drive crack down The Government and Police have today joined forces to clamp down on the menace...

Health Secretary announces date England will go smokefree.
December 1, 2006... (From Government News Network (Was Hermes-Government Press Releases)) ] DEPARTMENT OF HEALTH 2006/0377 1 December 2006 Health Secretary announces date England will go smokefree All enclosed public places and workplaces will become...

Big Lottery Fund - it's officially Big.
December 1, 2006... (From Government News Network (Was Hermes-Government Press Releases)) ] BIG LOTTERY FUND 06-12-01 1 December 2006 Big Lottery Fund - it's officially Big The largest of the National Lottery funders of good causes, the Big Lottery Fund,...

First gas from new Dutch pipeline brings further energy security to UK.
December 1, 2006... (From Government News Network (Was Hermes-Government Press Releases)) ] DEPARTMENT OF TRADE AND INDUSTRY P/2006/255 1 December 2006 First gas from new Dutch pipeline brings further energy security to UK Gas will flow for the first time...

Paper maker Marcal files Chapter 11.
December 1, 2006... (From AFX Europe (Focus)) NEWARK, N.J. (AFX) - Marcal Paper Mills Inc., a maker of toilet paper, kitchen towels, napkins and facial tissue, on Thursday filed a voluntary Chapter 11 reorganization bankruptcy petition and blamed rising...

Govt. fights subpoena for Plan B info.
December 1, 2006... (From AFX Europe (Focus)) WASHINGTON (AFX) - A reproductive rights group is on a "fishing expedition" and should be denied access to White House e-mails and other documents it seek as part of a lawsuit promoting unfettered access to the...

China to limit foreign stakes in life insurance JVs to 50 pct - report.
December 1, 2006... (From AFX Europe (Focus)) BEIJING (XFN-ASIA) - Foreign investors will be required to operate life insurance businesses in China with local partners, and their joint venture stakes will not be allowed to exceed 50 pct "in future," the China...