Asia Shipping News Dec 1, 2000
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Friday, December 1, 2000
SchedNet http://www.schednet.com
* PSA, Samsung to develop South Korea's Inchon port
* Matson files 3.5 pc rate increase
* YICT passes old yardstick in whole of China
* Kuehne & Nagel forms alliance with SembCorp Logistics
* KAL bulks up freighter fleet
* Airborne signs away future
* AACO members to get FAG ground services
PSA, Samsung to develop South Korea's Inchon port
=================================================
PSA Corporation's Inchon Port Investment Pte Ltd, an investment arm of
the PSA Group, has signed a joint venture agreement with Korea's
Samsung Corporation to jointly develop a major container terminal at
Inchon South Port in South Korea.
The agreement was signed on November 24 2000 in Singapore between Song
Yong Ro, president and chief executive officer (Seoul), Samsung
Corporation and Khoo Teng Chye, group president, PSA Corporation Ltd.
Present as witnesses were Kevin Ahn, managing director, engineering
and construction, Samsung Corporation, and Goon Kok Loon, chairman,
Inchon Port Investment Pte Ltd and president (international business
division)/ deputy group president (international), PSA Corporation
Ltd. PSA and Samsung had earlier signed a Heads of Agreement in Inchon
in December 1999.
The JV company will develop Inchon South Port as a major container
gateway for the South Korean hinterland by leveraging on PSA's
experience in port operations and management.
Matson files 3.5 pc rate increase
=================================
MATSON Navigation Company has filed a 3.5 per cent rate increase in
its US Pacific Coast - Hawaii Service, effective from February 14,
2001.
The increase was filed with the Surface Transportation Board on
November 22 and is needed to help offset rises in operating costs and
to support ongoing investments. The most significant rise in operating
costs pertains to the three- year ILWU contracts on the west coast and
in Hawaii, which were implemented last year and provided double-digit
increases in benefits and pensions, as well as an 8 per cent increase
in wages over the life of the contract.
YICT passes old yardstick in whole of China
===========================================
YANTIAN International Container Terminals has achieved a new operating
rate record of 203.80 mph (moves per hour), crashing through the old
peak of 158.58 mph, which was set on November 17.
The new figure was achieved while working on an Evergreen vessel on
November 24.
This is a record not only for the port, but for the whole of China.
Kuehne & Nagel forms alliance with SembCorp Logistics
=====================================================
KUEHNE & NAGEL (K&N), Schindellegi, Switzerland, and SembCorp
Logistics, Singapore, have signed an agreement regarding a
comprehensive strategic alliance in their logistics activities.
In order to strengthen the contractual commitments of the alliance,
K&N shall acquire up to 20 per cent of the shares of SembCorp
Logistics and SembCorp shall acquire a stake of 20 per cent in Kuehne
& Nagel International AG.
Under the terms of the agreement SembCorp will acquire 400,000
newly-issued shares of K&N and 80,000 existing shares in K&N. K&N will
initially acquire 10.7 million newly-issued shares in SembCorp
representing 5 per cent of SembCorp's share capital. Furthermore, K&N
has an option to acquire an additional 15 per cent of the SembCorp's
shares.
The commercial agreement significantly accelerates the growth
strategies of both companies. The alliance will have the management
teams, the financial resources and the geographic reach and depth to
take full advantage of the market of outsourced logistics, which is
forecast to grow by 10 per cent to 20 per cent per annum.
The alliance brings together K&N's strong position in worldwide ocean
freight and airfreight forwarding as well as European/US supply chain
solutions with SembCorp's strength in Asian Pacific supply chain
management services. The alliance will also combine complementary
activities in offshore logistics for the oil and gas industries in the
US, West Africa and the Asia Pacific region.
As a result, the alliance will be well placed to exploit the growth
potential of the global supply chain management sector and to achieve
incremental revenue gains through increased penetration of the joint
customer base, a stronger global presence for SembCorp and a stronger
Asian position for K&N.
KAL bulks up freighter fleet
============================
KOREAN Air Lines has placed a firm order for two Boeing 747-400
freighters.
The new cargo aircraft are scheduled for delivery in 2002. The value
of the order at list prices is estimated at US$380 million.
The new airplanes will enter an extensive Korean Air cargo fleet,
which currently numbers seven 747-200Fs, five 747-400Fs and four MD11
Freighters.
"Cargo shipments are, and will continue to be, a very important
segment of our business," said Yi-Taek Shim, president and CEO of
Korean Air. "The efficiency, reliability and profitability of the
Boeing 747-400 freighter has helped to establish Korean Air as a top
cargo carrier."
Korean Air is the world's fourth largest cargo carrier and recently
announced that it will open a new $102 million cargo station at New
York's JFK International Airport that will more than double its cargo
handling capacity in the eastern United States.
The `World Air Cargo Forecast 2000/2001', published by Boeing earlier
this year, projects that the air cargo industry will grow at an
average rate of 6.4 per cent, significantly higher than the projected
passenger traffic rates. The world's highest growth rates are expected
on routes involving Asia.
Airborne signs away future
==========================
AIRBORNE Freight Corporation, which operates under the trade name
Airborne Express, has unveiled a new service that will enable its
shippers to send confidential, signed documents electronically.
The service, to be called Airborne eCourier, is the latest
Internet-related service designed to offer shippers greater
flexibility than before. It enables users to add an electronic
signature, making legal document transfer available electronically for
the first time.
"The Internet continues to redefine the way people do business,"
explained Rich Corrado, vice president, marketing. "When the
Electronic Signature Act was signed into law on June 30, we knew that
many of our customers would be interested in electronic, rather than
hard copy delivery of their documents."
Airborne formed a partnership with InstantCourier.com, a provider of
encrypted document delivery and digital signature services, to create
a system providing a streamlined way to transmit documents while at
the same time ensuring privacy and security.
Jeff Tillman, CEO, InstantCourier said: "Together, we are
revolutionising business communication." InstantCourier's data
encryption product is a browser-to-browser technology that does not
require hardware or software installation for use.
Customers will be issued a certificate of authority, which will give
them access to the service. After a document is sent, the recipient
receives notification by e-mail, and retrieves the document via
Airborne's web site. The document transfer portion of the service is
scheduled for January 2001, and the digital signature service will be
added in February.
AACO members to get FAG ground services
=======================================
THE Aviation Ground Services division of Flughafen Frankfurt/Main AG
(FAG) - the Frankfurt Airport company - and the Arab Air Carriers
Organisation (AACO) have signed a comprehensive framework agreement
for providing AACO member airlines with aviation ground services at
Frankfurt and Vienna airports. Abdul Wahab Teffaha, general secretary
of AACO, and Rainer Ruppel, vice president joint ventures and
acquisitions of FAG's Aviation Ground Services division, inked the
agreement on November 22 in Beirut, Lebanon.
For the AACO airlines, this agreement offers tremendous advantages
such as streamlining handling contracts, ensuring premium quality
service, and providing a platform for overall market growth in the
future.
At Frankfurt Airport (FRA) the agreement runs for five years and
complements the separate contracts of the 12 AACO member airlines: Air
Algerie, Egypt Air, Gulf Air, Kuwait Airways, Libyan Arab Airlines,
Middle East Airlines, Royal Air Moroc, Royal Jordanian, Saudi Arabian
Airlines, Syrian Arab Airlines, Tunis Air and Yemenia Airways.
Combined, these 12 airlines operate about 47 flights per week
departing from FRA to various destinations in 13 countries.
FAG will provide a wide range of ground handling services to AACO
members, including aircraft, baggage, cargo and passenger services.
The framework agreement also covers VAS Flughafen Bodenverkehrsdienste
GmbH, FAG's wholly owned ground-handling subsidiary that operates in
Vienna, Austria. There are currently six AACO member airlines serving
Vienna International Airport (VIE). VAS will begin handling AACO
airlines in 2001.
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