NOTICIAS MES DE NOVIEMBRE DE 2001 (NEWS)

 

30/11/01 According to the steel manufacturer SSAB Swedish Steel, which is now introducing a new materials concept; railway carriage frame weight can be reduced by 25 per cent through the use of extra and ultra high strength steels

Up to 25 per cent lighter railway carriages - a dream which will soon be reality according to steel manufacturer SSAB Swedish Steel, which is now introducing a new materials concept for railway carriages. Through the use of extra and ultra high strength steels and design ideas from the automobile industry, weight can be reduced without the carriages losing stability. To haulage firms, this means that the load capacity can be increased considerably without exceeding weight limits. This new concept was presented at Nordic Rail, the international trade fair held at Elmia in Sweden 2 to 4 October 2001.

Lower total costs, less environmental impact and greater capacity utilisation are the three advantages that SSAB Swedish Steel emphasises when presenting its concept of high strength steel railway carriages. Within the automobile industry, high strength steels have become commonplace, and now these materials are being introduced in trains.

"Railway carriage frame weight can be reduced by 25 per cent," explains Göran Uhlin, who is in charge of introducing high strength steels to railway carriages at SSAB Swedish Steel. "The weight that is saved can be redistributed in the form of increased load capacity."

Even the carriage superstructure can become much lighter with the use of high strength steels, and the company has a series of new types of steel which can be combined depending on the intended loading for the carriage structure.

According to SSAB's calculations, the dead weight can be reduced by several tonnes, and in one modest calculation, a 10 per cent weight reduction would result in a carriage weighing two tonnes less. This means that haulage firms can increase the payload by an equivalent amount.

The reduced dead weight also pays off in the form of saved energy costs, lower maintenance costs and improved carriage/train length efficiency. "In this way, railway transport becomes more competitive, and it will also be beneficial in several other areas since this opens the door to less wear and tear on the road network," says Göran Uhlin.

The concept of high strength steels in railway carriages introduced by SSAB Swedish Steel is based on hot-rolled Domex steel with a yield strength of up to 750 N/mm2 as well as cold-reduced Docol steel with a tensile strength of up to 1400 N/mm2.

Railway carriages built with extra and ultra high strength steels is a dream about to be realised, according to steel manufacturer SSAB Swedish Steel. These new types of steel are already available, and properly utilised, the dead weight of a carriage can be reduced by several tonnes.

Facts about SSAB Swedish Steel:

SSAB Swedish Steel is Scandinavia's largest steel manufacturer and is one of the world's leading manufacturers of high-tensile steel. The product range within the steel sector is limited to sheet and heavy plate. The steel sheet production is operated within SSAB Tunnplåt and the heavy-plate operations within SSAB Oxelösund. The number of employees is 9,600 and the total production amounts to 3.4 million tonnes.

27/11/01 Japanese airlines in merger - Japan's largest airline, JAPAN AIRLINES (JAL), and the country's third largest airline, JAPAN AIR SYSTEM (JAS), agree on integration - Plan to establish incorporated holding company.

The integration will create the sixth largest international airline in the world. The move is seen as a result of the dramatic slump affecting the world airline industry, especially since the September 11 terrorist attacks

           

Japan Airlines and Japan Air System have reached a basic agreement to establish an incorporated holding company. The new company will be formed after obtaining the necessary approvals from the government bodies concerned and the companies' shareholders.

The formal announcement was made at a press conference given by the presidents of both airlines - Isao Kaneko of Japan Airlines, and Hiromi Funabiki of Japan Air System - in Tokyo.

Both companies are prepared to establish an integrated business structure and corporate constitution capable of rapid response to national requirements and market demands to maintain and expand air transport services.

By the better utilisation of assets, cost reductions, co-operation in the investment and development of information technology systems and efficient procurement of finance, the new venture will improve the company's value and benefit stockholders further. Strengthening the corporate constitution of the new company will benefit employee security, making more use of the personnel skills of both airlines.

CONTENT OF AGREEMENT

Both companies will together establish an incorporated holding company by stock transfer, with the target date of September 2002, after obtaining the approval of stockholders at the two airlines respective annual general meetings of shareholders in June 2002.

Planned representative Directors of the incorporated holding company:

Chairman: Hiromi Funabiki, President, JAPAN AIR SYSTEM

President: Isao Kaneko, President, JAPAN AIRLINES

Company name and brand names, logo and head office location are to be studied.

26/11/01 P&O Princess Cruises PLC ("P&O Princess") and Royal Caribbean Cruises Ltd. ("Royal Caribbean") have agreed to combine forces to create the world's largest cruise vacation group with the most modern fleet among the major cruise companies.

The combined group will have a fleet of 41 ships offering approximately 75,000 berths, with a further 14 ships on order for delivery over the next three years, offering over 30,000 additional berths will have a strong position in the Caribbean trade, and in the larger destination trades including Alaska, the Mediterranean, the Baltic, the Panama Canal and other exotic destinations world-wide.

       

The combined fleet will be the youngest of the major cruise operators with an average age of just six years.

The combination is being effected based on current market capitalizations, resulting in Royal Caribbean representing 49.3% of the equity value of the combined group and P&O Princess representing 50.7% of the equity value of the combined group. Royal Caribbean and P&O Princess have also today established a joint venture to target customers in Southern Europe.

Completion of the transaction is expected to take place, subject to, inter alia, shareholder and regulatory approvals, in the second quarter of 2002. Combined group to be renamed on completion with the corporate entities of P&O Princess and Royal Caribbean each taking the new group name

The combination will be achieved through a Dual Listed Company ("DLC") structure.The combined entity will be managed as a single, unified business with principal corporate headquarters in Miami, Florida and a significant corporate office in London, maintaining a substantial presence in Los Angeles and Seattle, as well as other offices in the US, UK, Germany and Australia.

By combining, the two companies expect to:

- Maximize the potential of their ships through strategic redeployment;

- Enhance their product offerings in existing vacation markets;

- Accelerate the geographic penetration of cruising into new global vacation markets; and

- Realize significant cost savings.

The combination is expected to deliver significant cost savings, estimated to be at least $100 million on an annualized basis, expected to come primarily from marketing efficiencies, improved purchasing, rationalizing offices in various locations, reduced information systems costs and combining Alaska tour operations.

Board And Management

Following completion, the combined group will be managed on a unified basis and in effect will have a single board, as the composition of the boards of Royal Caribbean and P&O Princess will be identical. Initially, the boards will comprise twelve directors, half of which will be nominated by P&O Princess and half by Royal Caribbean.

Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises and Chairman and Chief Executive Officer designate of the combined group, said: "The combination of Royal Caribbean and P&O Princess will maximize our ability to take advantage of the long-term potential of our industry. This deal brings together well known brands and the youngest fleet in the industry to create a strong customer offering that will drive future growth both in existing and new markets.

Peter Ratcliffe, CEO of P&O Princess Cruises and Managing Director and Chief Operating Officer designate of the combined group, said: With a high-quality fleet of over 40 ships, we will have the flexibility to respond to changes in demand around the world, open new markets, maximize the potential of our brands and benefit our customers and shareholders alike"

Lord Sterling of Plaistow, Chairman of P&O Princess Cruises, said: "This is an outstanding opportunity for both companies and a natural strategic combination. We obviously know each other well and I feel that our European and American heritages are a key to the future."

Joint Venture

As an initial step in combining the two companies operations and to accelerate the development of cruising within European vacation markets, the two companies have also entered into a joint venture agreement that will become effective immediately and will target customers in southern Europe primarily from Italy, France and Spain. The joint venture company is owned 50% by P&O Princess and 50% by Royal Caribbean. It is expected to commence cruise operations in 2003, deploying four new ships, with two contributed by Royal Caribbean and two by P&O Princess.

About Royal Caribbean

Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, and Royal Celebrity Tours. In addition, the company owns a 50% share of Island Cruises, a cruise joint venture with First Choice Holidays in Europe. Royal Caribbean International and Celebrity Cruises have a combined total of 23 ships in service with a passenger capacity of 47,400 berths. In addition, the company has six ships on order offering an additional 14,600 berths. Royal Celebrity Tours operates land-tour vacations in Alaska, Florida, British Columbia, and Europe.

About P&O Princess

P&O Princess Cruises PLC is a global cruise vacation company operating under the following brand names: Princess Cruises in North America; P&O Cruises in the UK and in Australia; AIDA, A'ROSA and Seetours in Germany and Swan Hellenic also in the UK. It provides cruises to Alaska, the Caribbean, Europe, the Panama Canal and other exotic destinations. The group currently has a fleet of 18 ships offering a total of 27,370 berths, with 8 new ships on order, offering a further 17,520 berths.Princess Tours, is a leading tour operator in Alaska with four riverside lodges (with a fifth being built), a fleet of deluxe motorcoaches and luxury Midnight Sun Express rail cars.

The boards of directors of P&O Princess and Royal Caribbean will be identical and the combined group will be managed as a single enterprise.

P&O Princess and Royal Caribbean will continue to have separate legal identities, tax residencies and stock exchange listings. Each will take the name of the combined group on completion.

22/11/01 PANAMA CANAL - Has been completed cut widening program which will increase the Panama Canal's operating capacity by 20 percent, it will enable the simultaneous transit of two Panamax-type vessels

ACP, the Panama Canal Authority announced the completion of Culebra cut widening program which will increase the Panama Canal's operating capacity by 20 percent, it will enable the simultaneous transit of two Panamax-type vessels and it will allow for a more flexible traffic scheduling of vessels

Culebra Cut Widening project concluded a year before schedule. Costs, originally estimated at US$600 million, were under US$300 million

In a simple ceremony attended by former Canal administrators, Fernando Manfredo and Gilberto Guardia, Administrator Alberto Alemán Zubieta conceded Gilberto Guardia the honor of operating dredge Christensen for the final shovelful, at the precise historical site which had constituted the greatest challenge for the construction workers of the waterway.

On July 4th, the Panama Canal Authority (ACP) had wrapped up the drilling and blasting portion of the Cut's widening program. On August 16, the last shovelful of the land-based wet excavation project was accomplished by excavator LIEBHERR. A total of 23.2 million cubic meters of dry material and 12 million cubic meters of wet material were removed.

The completion of the project widens the narrowest passage of the Panama Canal from 152 meters to 192 meters along straight stretches and up to 222 meters on curves. Originally scheduled to be concluded in 2012, the Culebra Cut project was sped up by more than 10 years to December 31, 2002, in order to meet increasing traffic demands.

Only the signaling work is pending for the Culebra Cut widening and it will be ready by the end of next year. The widening is part of the Canal's $1-billion modernization and improvement program, and merely under $300 million were invested in this project, originally estimated to cost more than $600 million.

During the Canal's construction, the Culebra Cut was the portion which required the greatest volume of excavation and it has been the site where the biggest landslides have occurred throughout its history. This part of the navigational channel is approximately 12.5 kilometers long, and here mostly rock and slate were excavated during the waterway's construction.

21/11/01 TT Club, the transport and logistics provider of liability and associated insurance and risk management products review strategic options, developing a long-term strategy and decided to introduce, with immediate effect and until further notice, a general increase in premium rates of 20%.

The TT Club reviewed it's inancial performance in 2001, and the outlook for 2002 concentrated on areas such as underwriting results, reinsurance and Investment Return.

Underwriting Results

The Club has experienced underwriting losses on the 1997 to 2000 policy years totalling approximately US$50 million, result which must be brought back into balance in 2002. These results reflect increasing levels of liability, litigation and claims within the transport industry, pressures in the global insurance market due over-capacity and price competition.

Reinsurance Costs

The cost of the Club's reinsurance programme had increased at the start of 2001 and rates are now expected to rise sharply in 2002. The Club was anticipating the possibility of a further moderate increase in rates for 2002. With this in mind, and in common with general insurance market practice, the Club will include a 30-day cessation clause in all policies in order to enable the Directors to terminate existing contracts if there were to be an unsustainable change in the cost or availability of reinsurance.

Investment Return

Club returns for 2001 are expected to be weak as interest rates have fallen sharply and equity markets have not yet recovered to their former levels. The outlook for 2002 is very uncertain and it is clear that the Club cannot rely upon investment returns to support underwriting results for the foreseeable future.

Having reviewed the financial results for 2001 and the outlook for 2002, the Board decided to introduce, with immediate effect and until further notice, a General Increase in premium rates of 20%.

The General Increase will be applied without exception, upon the renewal of current policy. The Club's rates for new business will be increased accordingly.

The Board consider that the General Increase is necessary to restore premium rates to a sustainable level, and to maintain the Club's current strong position in the transport insurance market in order to provide the following important benefits:

· High quality claims and advisory services

· Global service network

· Specialist customised cover

· Strong financial security

· Long-term commitment to the transport industry

· A stable insurance partner

Fixed premium

Separately from above measures, the Club is planning to offer fixed premium insurance to all Members in the future. The Members of TT Bermuda and TT EurAsia at a meeting held current month approved to eliminate the power of the Board to levy supplementary premiums. Board is now awaiting regulatory approval from the insurance authorities in the UK and elsewhere before implementing those changes.

Under the proposed arrangement, all new business and renewal premiums written by the Club will be on a fixed premium basiss.

Paul Neagle, Chief Executive of the Club, remarked they will be offering customers a fixed premium insurance package, backed by excellent levels of service and provided by a mutual insurer dedicated to the needs of its policyholder members. He believe this will prove to be a winning combination in tomorrow's transport and logistics market.

The TT Club board has evaluated the benefits of mutual ownership of the Club by the transport and logistics industry. It has reaffirmed that the TT Club will remain a mutual organization owned and controlled by its membership.

The key benefits of mutuality are:

- Comprehensive insurance cover at a competitive price.

- Specialist underwriting and claims handling capabilities.

- Global presence via owned and partner operations.

- Financial strength built up over 33 years.

- Expert risk management and loss prevention advice.

- A philosophy based upon settling claims quickly.

The TT Club provides liability and equipment insurance to ship operators, stevedores, terminal and depot operators, port authorities, logistics providers, freight forwarders and other transport operators in 150 countries. The Club insures 70% of the world's container fleet, over 2000 ports and terminals worldwide as well as 4000+ transport and logistics operations around the globe.

20/11/01 Kuehne & Nagel, the leading logistics group joins growing list of investors in INTTRA the ocean freight services supply chain space.

INTTRA (www.inttra.com), the leading provider of B2B ocean freight services, announced that Kuehne & Nagel International AG (www.kuehne-nagel.com), one of the world's leading logistics groups has invested in INTTRA. Kuehne & Nagel joins other investors, including ocean carriers CMA CGM, Hamburg Süd, Hapag-Lloyd, Maersk Sealand, MSC Mediterranean Shipping Company S.A., and P&O Nedlloyd, which have collectively backed INTTRA.

     

Kuehne & Nagel is the first freight forwarding and logistics company to invest in INTTRA. The amount of Kuehne & Nagel's stake in INTTRA is undisclosed.

Kuehne & Nagel recently selected INTTRA as its Web-based ocean-going transportation portal for its full container load shipments (See Transportando.net August 25, 2001). INTTRA offers one link to many carriers, providing forwarders and shippers with one-stop Internet-based services. INTTRA's Web-based portal enables shippers, freight forwarders, third party logistics providers, brokers, importers and industry portals to manage the booking and tracking of cargo across multiple shipping lines in a single integrated process.

About INTTRA

Founded in April 2000 and financially sponsored by a group of leading global carriers and logistics providers (CMA CGM, Hamburg Süd, Hapag-Lloyd, Kuehne & Nagel International AG, Maersk Sealand, MSC Mediterranean Shipping Company S.A., P&O Nedlloyd), INTTRA's mission is to drive efficiencies into the ocean transportation industry by streamlining and standardizing traditionally inefficient processes. INTTRA enables shippers, freight forwarders, third party logistics providers, brokers, importers and industry portals to manage the booking and tracking of cargo across multiple shipping lines in a single integrated process.

With headquarters in Parsippany, NJ U.S.A., and offices in Copenhagen, Denmark, and Hong Kong, China, INTTRA's Web-based portal meets today's demand for simplicity, transparency, neutrality, and confidentiality across the global supply chain, and is designed to deliver connectivity by establishing global shipping standards.

12/11/01 After last week confirmation regarding Belgium airline SABENA bankrupt, the regional airline "DAT" Delta Air Transport SA/NV has started its own operations linking again Brussels with the rest of Europe.

Following last week announces regarding a court has declared Belgium airline Sabena bankrupt and due to it's consequence all European and intercontinental flights of Sabena were suspended; as result of the increasingly bad results of Sabena, caused by several factors such as the continued lack of profitability of the company and the crisis in the aviation industry, dramatically increased by the September 11 events in the USA, it has been officially informed last saturday November 10th that the regional airline "DAT" Delta Air Transport SA/NV, until now operating carrier for Sabena SA/NV, has started its own operations linking again Brussels with the rest of Europe.

       

Intention to start a smaller, more adequate airline activity, based on the regional airline DAT. This activity would focus on Europe, with possibly some profitable long haul destinations. Objective is to keep the country, out of Zaventem, linked with the rest of the world and to guarantee employment possibilities for thousands of people.

More than 1.000 DAT pilots, cabin crew members, technicians and other members of the personnel have launched their airline with the objective to serve 35 European destinations from Brussels International Airport (BIAC). The possibility of other destinations is also being studied. Passengers will be informed via their travel agent and a publicity campaign in the print media. Soon a new website will be available to explain the advantages and practicalities of booking and flying DAT.

DAT has also become a member of the Qualiflyer Frequent Flyer Programme. Passengers with non-used Sabena tickets on a destination now served by DAT can use their tickets for the respective destination.

DAT operates a fleet of 32 regional aircraft : 14 AVRO RJ85 (82 seats), 12 AVRO RJ100 (97 seats) and 6 BAe 146 (84 seats). In 2000 it served 3.3 million passengers. At this moment it employs 1.034 people.

DAT was founded in Antwerp in 1966 and started collaboration with Sabena immediately thereafter. In 1986 Sabena became shareholder for 49.66%, and in 1996 for 100%.

07/11/01 Schenker selects GT Nexus Forwarder Private Network - Improved information flow in global supply chain management

Schenker, the world's leading providers of integrated logistics services based in Essen, Germany has selected GT Nexus Forwarder Private Network (FPN) for a global sea freight management initiative to improve information flow and supply chain management for its customers. In August, Schenker signed along with Danzas Group and Panalpina with Inttra, the competitor to GT Nexus headed by Maersk - P&O Nedlloyd - Hamburg Sud and Mediterraneasn Shipping.

GT Nexus is a collaborative logistics management system designed specifically for the complex business needs of global logistics providers. Through GT Nexus Schenker will operate its own network to serve the needs of individual customers, and to conduct business with over a dozen worldwide carriers. As part of the first phase of deployment, Schenker will initially deploy FPN at select locations worldwide.

"As logistics providers, we are in the middle of the industry value chain. We manage the complex logistics of our customers and work closely with global carriers to meet these customers' needs. GT Nexus addresses both of these critical relationships and is an important tool in helping improve the level of service to our customers", said Dr. Thomas Lieb, member of the board of Schenker AG. "This is another step in our strategy to connect our network with the carriers."

"We welcome Schenker as a private network customer", said Aaron Sasson, CEO of GT Nexus. "GT Nexus is on its fourth generation of e-logistics solutions.

GT Nexus is a leading provider of global e-logistics solutions. The company's integrated, web-native applications bring unprecedented control, visibility and improvement to the complex processes of international transportation and global supply chain operations.

With annual sales of Euro 6 billion, nearly 32,000 employees and about 1,000 offices around the world, Schenker is one of the world's leading providers of integrated logistics services, offering land transport, air and sea freight as well as comprehensive logistics solutions and global supply chain management from a single source.

06/11/01 LanChile Cargo - will introduce a "security surcharge"

As a direct result of the tragic attack upon the United States this September, all airlines are now facing dramatically increased costs in relation to the introduction of higher levels of security and outrageous insurance costs.

Our airline like all others, is not immune from the higher levels of security being introduced and its associated increasing costs.

Therefore, effective on November 1st, 2001, Lan Chile Cargo will introduce a security surcharge on all exports from the USA. A charge of US$0.10 per chargeable kilo with a minimum of US$25.00 will be applicable for all shipments system wide in accordance with company policy. The charge is to be shown in the "Due Carrier Box" on the airway bill.

If you have any questions, please feel free to call Sales Department or Global Account Manager at (305) 874-2777.

 

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