THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Monday, January 2, 1995 TAG: 9412310217
SECTION: BUSINESS WEEKLY PAGE: 7 EDITION: FINAL
LENGTH: Short : 45 lines
Ship profits: SS&Y Research Services of London said dry bulk cargo profits have surged. A 120,000-ton ship carrying coal from Hampton Roads to Japan earns about $22,000 a day, compared with $10,000 daily a year ago. The fading world recession fueled demand for coal and ore.
Tidewater leads: The Port of Hampton Roads led the nation in bulk exports and Philadelphia led in bulk imports during the six-month period ending Aug. 30, said the Journal of Commerce.
Argentine peanuts: About 26,000 tons of Argentine peanuts will reach the United States in early '95. Argentina won peanut and beef export rights in talks related to the General Agreement on Tariffs and Trade.
Cartel appeal: Shipping lines subscribing to the old Trans-Atlantic Agreement appealed a European Commission decision. The EC ruled the TAA was an illegal cartel. The 15 TAA shiplines contended the EU misread European Union competition law.
Global reach: Japan's Nippon Yusen Kaisha Line, Chile's Compania Sudamericana de Vapores, Taiwan's Nantai Line, Brazil's Norsul Line and South Africa's Quadrant Container Line formed a consortium to provide weekly service to Asia, South Africa and South America.
Hanjin expands: Hanjin Shipping Co. of South Korea launched North Atlantic service by expanding its space charter with Cho Yang Shipping and DSR-Senator Line. The charter agreement covers 130 vessels with a collective container capacity of 200,000 units.
Philadelphia story: Stevedore Tom Holt's companies sued the ports of Philadelphia and Camden. Holt contended the use of taxpayer money by the ports undermined his family business. by CNB