Europe Intelligence Wire articles from October 2004

Europe Intelligence Wire archives from October 2004

BP Shipping places $1.5bn LNG tanker order with Hyundai.
October 1, 2004... (From Lloyds List) Byline: Oil giant books up to eight vessels, writes Sam Chambers in Hong Kong and Tony Gray HYUNDAI Heavy Industries has been awarded a contract for up to eight liquefied natural gas carriers by BP Shipping in a deal...

Hutchison captures more Shanghai terminal berths.
October 1, 2004... (From Lloyds List) Byline: Sam Chambers in Hong Kong HUTCHISON Port Holdings has cemented its position as the leading foreign container terminal operator in Shanghai by grabbing another four berths in a joint venture with the...

Russian tankers 'lamentable' EU's Barrot.
October 1, 2004... (From Lloyds List) Byline: Justin Stares in Brussels THE European Union is planning to ratchet up pressure on Russia over its maritime oil export regime, according to the incoming commissioner for transport. All negotiations on...

Energy insurance premiums will rise.
October 1, 2004... (From Lloyds List) Byline: James Brewer OFFSHORE energy insurance premiums are at a turning point after Hurricane Ivan caused damage estimated at between $750m and $1bn in the Gulf of Mexico. Experts in the London market, which...

IMO gets shore leave plea.
October 1, 2004... (From Lloyds List) International Chamber of Shipping secretary-general Chris Horrocks and Jon Whitlow, secretary for seafarers, fisheries and inland navigation at the International Transport Workers Federation, meet International Maritime...

Munich Re cuts hurricane costs.
October 1, 2004... (From Lloyds List) Byline: Annika Pattberg and Herbert Fromme in Cologne MUNICH Re expects a loss burden of around € 500m ($602m) before tax from the unusually close succession of windstorms in the Atlantic and in the Pacific,...

Victoria snaps up Lincolnshire port.
October 1, 2004... (From Lloyds List) THE UK port operator Victoria Group has expanded again, adding the east coast port of Boston to its portfolio, writes Felicity Landon. Victoria completed the acquisition of the Lincolnshire port from Ashtenne...

American Club finances bounce back in attack on deficit years.
October 1, 2004... (From Lloyds List) Byline: Supplementary premium calls announced earlier this year are only one factor in robust earnings growth', writes James Brewer AMERICAN P'I Club is making up lost financial ground even beyond the money due from...

Talanx and Gerling 'in merger talks'.
October 1, 2004... (From Lloyds List) GERMAN insurer Talanx, formerly HDI, is in intensive negotiations with Gerling about a possible merging of their operative insurers, according to market sources, writes Herbert Fromme. Talks are 'far advanced', the...

Masojada plan to nip 'suicidal tendencies'.
October 1, 2004... (From Lloyds List) Byline: James Brewer HISCOX chief executive Bronek Masojada has opened his term as president of London Insurance Institute with a pledge to work to curb the insurance industry's suicidal tendencies. He said:...

Devon Energy in $1bn-plus asset divestment.
October 1, 2004... (From Lloyds List) Byline: Edited by Martyn Wingrove Energy Briefing OKLAHOMA company Devon Energy is looking to raise $1bn-$1.5bn from its US onshore and offshore oil asset divestment programme to focus on deepwater and...

Ramco prepared to reinvest after Seven Heads investigation.
October 1, 2004... (From Lloyds List) Byline: Martyn Wingrove RAMCO Energy has completed its investigations into the production problems at Ireland's Seven Heads gas field and is ready to reinvest in its only operating asset. The Aberdeen oil...

Hurricane Ivan decimates Gulf oil production.
October 1, 2004... (From Lloyds List) Gulf of Mexico oil production remains a third down following damage to infrastructure from Hurricane Ivan and continued shut-in of platforms, writes Martyn Wingrove . According to the Minerals Management Service,...

NOL shares defy gloom.
October 1, 2004... (From Lloyds List) Byline: Marcus Hand in Singapore SHARES in Neptune Orient Lines did not plunge the day after Temasek Holdings' takeover offer closed, as had been widely expected, but soared by as much as 10%. In trading...

No capacity problems on updated Panama Canal.
October 1, 2004... (From Lloyds List) Byline: From Jorge L Quijano Letters To The Editor SIR, I wish to clarify the erroneous statement made by members of the Transpacific Stabilisation Agreement, as reported in your article 'Congestion set to...

STX sets product price record.
October 1, 2004... (From Lloyds List) Byline: Sam Chambers in Hong Kong PRODUCT carriers are the latest ship types to smash price records at the yards, with STX Shipbuilding of South Korea winning an order for four medium range, 47,000 dwt product...

Norden shareholders to get $60m windfall.
October 1, 2004... (From Lloyds List) Byline: Tony Gray NORDEN'S shareholders have approved the Danish bulk shipping company's plans to pay a special dividend which could distribute more than $60m. An extraordinary general meeting yesterday adopted...

Goshawk withdraws from bid talks.
October 1, 2004... (From Lloyds List) GOSHAWK Insurance Holdings, which controls Bermudian reinsurer Rosemont Re, has called off talks with a potential bidder, writes James Brewer . Its announcement came shortly after Nikko Principal Investments which...

Hong Kong joins call for relaxing shore leave rules.
October 1, 2004... (From Lloyds List) Byline: Janet Porter in Hong Kong HONG Kong shipowners and seafarers have added their voice to worldwide calls for fewer restrictions on crew shore leave. Representatives from the Hong Kong Shipowners Association...

Mystery investor set for big profit on Ship Finance.
October 1, 2004... (From Lloyds List) Byline: Sale of $30m of shares lined up while Fredriksen raises stake, writes Tony Gray AN INSTITUTIONAL shareholder in Ship Finance International, the tanker owning subsidiary of Frontline, is set to reap a handsome...

Judge orders arrest of ferry The Spirit of Ontario 1.
October 1, 2004... (From Lloyds List) Byline: CATS admits financial difficulties; it also claims to be 'diligently working' to restore services, writes Rajesh Joshi A US federal judge has ordered the arrest of the fast ferry The Spirit of Ontario 1 in...

Analysts doubt China self-sufficiency in wheat.
October 1, 2004... (From Lloyds List) Byline: Rising Chinese wheat production unlikely to affect import levels for some years yet, writes Namrata Nadkarni CHINA appears to be making progress in it's bid to reduce it's grain imports for 2005-06. However,...

Lufthansa near to arbitration for record claim.
October 1, 2004... (From Lloyds List) Byline: Herbert Fromme and Anja Kr'ger in Cologne LUFTHANSA is close to winning an arbitration award for part of the largest directors and officers insurance claim ever filed in Germany. According to industry...

Bird flu outbreaks could mean long-term losses.
October 1, 2004... (From Lloyds List) SHIPOWNERS catering for routes to and from Thailand can expect to see a continuation of the downward slide in chicken exports and imports of soyabean and corn, writes Namrata Nadkarni. With the death of a 26 year old...

Tanker Fixtures.
October 1, 2004... (From Lloyds List) CLEAN Arabian Gulf to Japan vessel to be nominated, 75,000t, W200, Oct 24. (PDI) Arabian Gulf to South Korea Berge Captain, 55,000t, W220, Oct 25. (SK Corp) Black Sea to Mediterranean Ocean Liberty,...

Black Sea leads the suezmax rate rise.
October 1, 2004... (From Lloyds List) Byline: Sam Chambers in Hong Kong Tankers GETTING a word with suezmax brokers this week has been a tough task. With oil cracking the $50 a barrel mark producers have been pumping at top speed. VLCCs leapt...

Dry Bulk Fixtures.
October 1, 2004... (From Lloyds List) ORE Guaiba Island to Qingdao George T, 160,000t, $31.50 per tonne, fio scale'25,000sc, Oct 15-31. (Transfield) Dampier to Qingdao China Steel Integrity , 160,000t, $13.75 per tonne, fio scale'25,000sc, Oct...

Chinese holiday slows capesize activity.
October 1, 2004... (From Lloyds List) Dry Trade THE bank holidays that punctuate this week for the Chinese, on Wednesday and today, prior to next week's long holidays on the mainland, has actually stunted capesize activity, writes Sam Chambers in Hong...

Education playing a central role in bid for perfect standards.
October 1, 2004... (From Lloyds List) ESTABLISHED in the 1930s, ASBA's goal is 'to advance and foster the ideals and standards of professional conduct and practices', writes Rajesh Joshi. Association of Ship Brokers president Marygrace Collins sees this...

An influential player who worked her way up to the top.
October 1, 2004... (From Lloyds List) FOREIGN languages are a cult in Marygrace Collins' family. Four of the seven siblings, three brothers and a sister, graduated from the tony Georgetown University School of Language and Linguistics in Washington DC. ...

ASBA gets tough on 'bad apple' agents.
October 1, 2004... (From Lloyds List) Byline: Supporting ships' agents is all very well, but what about 'bad apples' who leave principals in the lurch? The Association of Ship Brokers and Agents has decided to play policeman, imposing tough new guidelines...

The pirate with a noble cause.
October 1, 2004... (From Lloyds List) BEFORE Cook, before Darwin there was William Dampier. If that name is unfamiliar to you, then you are in good company, writes Neville Smith. A literary influence on Coleridge, Swift and Defoe and the first...

Onassis intrigue lacks happy ending.
October 1, 2004... (From Lloyds List) Byline: A very different view of Lloyd's List's man of the millennium is offered by a new biography of Aristotle Onassis, writes Neville Smith HOW, in all conscience, can one review this book? As Lloyd's List's man...

Health or desperation?
October 1, 2004... (From Lloyds List) A HEALTHIER climate for European shipbuilding or limited choice as a result of all the preferred East Asian yards being booked up solid with owners desperate for ships? It is a matter of perspective. But such...

Joint exhibition brings street art and architecture together.
October 1, 2004... (From Lloyds List) Byline: Neville Smith THAT we have become a visually-oriented, graphically-literate society should be obvious to any observant visitor to the Lloyd's List office. Those prepared to stroll the byways of West...

European yards must make the most of competitive advantages.
October 1, 2004... (From Lloyds List) Byline: International alliances and national networks are no contradiction for the German federal government's co-ordinator for the maritime sector, Georg Wilhelm Adamowitsch. Uwe Cardaun put the questions on behalf of...

Hugh O'Mahony takes a look through the archives of Lloyd's List.
October 1, 2004... (From Lloyds List) September 24, 1904 Michael O'Brien, seaman on board the steamship Longhirst , lying in Granton Harbour, pleaded guilty at the diet of Edinburgh Sheriff Court on Thursday to having fraudulently altered in his...

Tightening the tanker safety net.
October 1, 2004... (From Lloyds List) Byline: In an exclusive interview with Hamburg Messe, International Maritime Organization secretary-general Efthimios Mitropoulos explains the motivation for toughening IMO regulations on the service life of single-hull...

ChartCo system for 70 ships.
October 1, 2004... (From Lloyds List) ER SCHIFFAHRT is looking for more than 470 masters and officers to man its new ships coming into operation until 2007, writes Katrin Berkenkopf. However, unlike many other owners the company, which belongs to Erck...

Hapag-Lloyd backs new routeing system.
October 1, 2004... (From Lloyds List) Byline: Containership giant puts weight behind Germanischer Lloyd initiative in combating heavy weather problems, writes Christopher Mayer in Hamburg LEADING containership operator Hapag-Lloyd intends to implement...

Refugees deserve aid Reith.
October 1, 2004... (From Lloyds List) German shipowner Matthias Reith of Orion shipping has called for more help for refugees fleeing their countries by sea, writes Nora Luttmer. 'Rescuing people cannot be questioned,' Mr Reith said. 'Masters are...

Ballast water strategy by 2006.
October 1, 2004... (From Lloyds List) Byline: Hugh O'Mahony THE prototype ballast water treatment system providing the most promising means of wiping out invasive marine species, is to be industrialised following an agreement between Alfa Laval and a...

Renk wins order for gears from Indonesia army.
October 1, 2004... (From Lloyds List) GERMAN gear maker Renk has won an order from the Indonesian navy to supply the reduction gear units for two corvettes, writes Katrin Berkenkopf. The 1,700 T class ships will be built at DeSchelde shipyard in the...

eProcurement service sees subscribers boom.
October 1, 2004... (From Lloyds List) Byline: Christopher Mayer e-EUROSHIP, the internet-based procurement portal launched in January 2003 by Fincantieri, Alstom Marine, HDW, Meyer Werft and Izar, will have a subscription base of almost 1,000 by the end...

VeriSTAR will save time and money for shipyards.
October 1, 2004... (From Lloyds List) Byline: Nigel Kitchen AN ON-line project management tool, which allows shipowners, shipyards and surveyors to manage all aspects of a newbuilding project, has been developed by classification society Bureau Veritas....

AIS shows off new tracking systems.
October 1, 2004... (From Lloyds List) SWEDEN's leading marine AIS technology firm, Saab TransponderTech, has introduced a new type-approved global positioning system as an integrated part of the R4 Ship AIS transponder system, writes Christopher Mayer. ...

Challenges ahead for EU minnow.
October 1, 2004... (From Lloyds List) Byline: Using accession to strengthen the island's economy will bring the thorny issue of privatisation to the forefront, writes Martin Clark AS THE fireworks crackled overhead, the cheers rang out all along Malta's...

Making a yard's supplier liable for a shoddy vessel.
October 1, 2004... (From Lloyds List) Legal Viewpoint If a vessel is defective, the shipowner will usually first try to hold the shipyard liable under the building contract. However, this may turn out to be a difficult task if the warranty period has...

Malta Freeport prospers despite sale delay.
October 1, 2004... (From Lloyds List) AT THE end of 2003 it looked like the privatisation of the Malta Freeport Authority was a done deal, with France's CMA CGM due to sign a 30 year concession imminently. Nearly a year on and little has changed. Talks...

Island gears up for cruise market drive.
October 1, 2004... (From Lloyds List) NOT everyone in Malta owns a yacht, but even for those that do not the sea is a way of life. As well as the fabulous seafood available at the traditional restaurants, the coast offers a whole array of activities for...

Airport reveals hub ambitions.
October 1, 2004... (From Lloyds List) WHILE the privatisation saga of state airline Air Malta trundles on, the sale in 2002 of a strategic equity stake in Malta International Airport has shown that the outcome can be positive. While the airport...

High aspirations for Waterfront.
October 1, 2004... (From Lloyds List) THE Valletta Waterfront development, targeted at raising Malta's appeal as a cruise tourism destination, is moving ahead at speed. The project has received more than 200 expressions of interest from different...

Difficult chapter finally brought to a close.
October 1, 2004... (From Lloyds List) Byline: The Malta Register, one of the world's largest, has emerged from some scrapes in recent years but is now looking stronger as a result AFTER making deep changes in recent years with the rehabilitation of the...

Hopes rise of renewed offshore exploration.
October 1, 2004... (From Lloyds List) MALTA is hoping the additional diplomatic clout of its membership of the European Union will help to unravel long-running maritime boundary issues with North African neighbours Libya and Tunisia, unlocking the door to...

Getting tough on security becomes a top priority.
October 1, 2004... (From Lloyds List) SECURITY issues have become a top priority for Malta's maritime chiefs. As well as protecting the good name of the Maltese flag, the island is now the southern gateway to the European Union and a potential target...

Ringing changes to meet EU demands.
October 1, 2004... (From Lloyds List) MALTA'S small but busy maritime legal sector it is home to the International Maritime Organisation's International Maritime Law Institute has been in the thick of it during the EU accession. After a lengthy period...

Courts keep on the right side of the law.
October 1, 2004... (From Lloyds List) AS ONE of the region's busiest shipping hubs, Malta has seen a steady number of shipping-related cases before its courts. Despite shifting legislation due to European Union and other international regulations, the...

Isn't it time we started thinking about the dollar?
October 1, 2004... (From Lloyds List) Byline: Andrew Craig Bennet Quarterpoints AT A ship finance conference last week, a very well known European shipping banker remarked, over lunch, that if you buy your fuel in euros, the price of oil has not...

Last Word.
October 1, 2004... (From Lloyds List) Full Nelson A STRONG turn-out at Somerset House in London this week as the Trafalgar Festival and SeaBritain 2005 were officially launched complete with a visit from the great man, Lord Nelson himself, or rather...

World Briefing.
October 1, 2004... (From Lloyds List) Car bombs kill 48 in Iraq INSURGENTS detonated three car bombs near a US military convoy in Baghdad, killing 41 people, 34 of them children, and wounding scores. In two other attacks, a suicide bomber blew up his...

Standard mechanical seals for containers may yet become law.
October 1, 2004... (From Lloyds List) Byline: Observers say the mechanical seal proposal will enshrine into law an already common practice, writes Rajesh Joshi in New York THE notion of every container bound for a US port and potentially in global trade...

COCKETT BUNKER MARKET REPORT.
October 1, 2004... (From Lloyds List) Compiled for Lloyd's List by Cockett Marine Oil Ltd Sep 22, 2004 PRICES are current and based on live, average sized, bunker deals. The Cockett Bunker Price Index is based on 1000 as of January 1 1986. Updates...

Dutch owners hope US will lift vessel targeting.
October 1, 2004... (From Lloyds List) Byline: Helen Hill in Amsterdam DUTCH shipowners are hopeful that a US Coast Guard decision to target all of their vessels because of failures in complying with the International Ship and Port Facility Security Code...

BUNKER QUALITY REPORT - Sept 16, 2004.
October 1, 2004... (From Lloyds List) BUNKER QUALITY REPORT - Sept 16, 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...

Gas Market Report.
October 1, 2004... (From Lloyds List) NORTHWEST EUROPE: The large propane market in NWE remains buoyant even with at least 2 large cargoes scheduled to arrive first half October. A 20 kts October TOT was traded yesterday at $424.50 but the seller revised...

Ecommerce minister wants to shut down spam.
October 1, 2004... (From Newswire (VNU)) Ecommerce minister Mike O'Brien is considering ordering internet service providers to disclose the source of rogue emails in the battle to limit the mounting damage caused by spam. In his first major pronouncement...

MTI's news schedule for Friday.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - MTI's daily news service in English will include coverage of the following events on Friday: - Prime Minister Ferenc Gyurcsany Ferenc calls on Zoltan Lomnici, President of...

BorsodChem shares sold in private placement.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Austrian Vienna Capital Partners (VCP) sold 62.6pc of BorsodChem's shares in a private placement without options with an offer price of 1,850 forints per share,...

Socialist MEPs want Hungarian FM to become energy commissioner.
October 1, 2004... (From Hungarian News Agency (MTI)) Brussels, October 1 (MTI) - Two noted Socialist members of the European Parliament have expressed support for Hungarian Foreign Minister Laszlo Kovacs's appointment as European energy commissioner. ...

Hungary's PMI down in September.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Hungary's Purchasing Manager Index dropped by 2.8 points to a seasonally adjusted 50.0 in September, Halpim, the company which compiles the index, reported on...

Interbank market: forint firms.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - The forint firmed against euro on Friday morning to 246.50/70, compared to 247.00/05 on Thursday afternoon, rising 15 basis points to 12.67pc on the strong side...

Football hooligans face trial after Ferencvaros-Millwall match.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - Proceedings have started against 12 soccer hooligans over rowdyism linked with Thursday's UEFA cup match between Hungarian champions Ferencvaros and the English side Millwall...

Veinna Capital Partners sets price of HUF 1850 per share for.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-Econews) - Vienna Capital Partners (VCP) set a price on Friday of HUF 1,850 per share and USD 9.28 per GDR for a 62.6pc stake it is selling through private placement to...

Russian-Ukrainian ringleader sentenced to eight years in prison.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - A Hungarian court has sentenced the head of a Russian-Ukrainian criminal ring to eight years' imprisonment on Friday. The Budapest Municipal Court found Leonid Stecura, an...

PM notes progress in boosting legal security.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - Prime Minister Ferenc Gyurcsany praised the results of the justice reform and the progress achieved in the field of legal security in a statement after visiting the chief...

Explosion at Matra Power Plant causes EUR 400,000 in damages.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-Econews) - An explosion at the Matra Power Plant (NE Hungary) late on Thursday injured no one, but caused around EUR 400,000 of damage and will result in a further EUR 1m in...

EU funds key to convergence, says incoming economics minister.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - The incoming economics minister has described involving European Union funds in the economy as a key to the country's convergence. Janos Koka, the cabinet's youngest...

Table - Budapest forint fixing.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Official forint fixing of the National Bank of Hungary (previous rates in brackets): ============================================================== Currency...

Hungary's PMI down in September - extended.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Hungary's Purchasing Manager Index dropped by 2.8 points to a seasonally adjusted 50.0 in September, Halpim, the company which compiles the index, reported on...

BorsodChem shares plunge amid active trading.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Hungarian stocks plunged on Friday at mid-day amid active trading dominated by mid-cap chemicals company BorsodChem, after the announcement that Vienna Capital...

Opposition chief urges support for ethnic Hungarian universities.
October 1, 2004... (From Hungarian News Agency (MTI)) Oradea, October 1 (MTI) - The leader of the main opposition Fidesz party has asked the government to earmark HUF 4bn (EUR 16m) in next year's budget to support higher education of ethnic Hungarians in...

International control operation on EU's Ukrainian border.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - The European Union held a successful international border police action along its frontier with Ukraine between September 20 and October 1, a senior border guard officer...

Trade unions for reduced working hours.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1 (MTI) - Trade unions see the new government's platform as one targeting a more equitable society, but would like to see reduced working hours among its objectives, the National...

Household save net HUF 116.3bn in Q2.
October 1, 2004... (From Hungarian News Agency (MTI)) Budapest, October 1, 2004 (MTI-ECONEWS) - Hungarian households saved net HUF 116.3bn (EUR 471.5m) in the second quarter of 2004 as a balance of gross savings of HUF 369.9bn and gross borrowing of HUF...