SEA-LAND DUMPS STAKE
IN MANILA TERMINAL
MANILA, Philippines - The two principal shareholders of International Container Terminal Services Inc., which operates Manila International Container Terminal, have bought out the 4.26 percent stake held by the Sea- Land Orient Ltd. unit of Sea-Land Service Inc. of Liberty Corner, N.J., itself part of CSX Corp. of Richmond, Va.
Under the deal, completed earlier this year but only announced Tuesday by the local stock exchange, the Soriano family, which controls brewer San Miguel Corp., and the Razon family boost their combined holding to 55.26 percent.
"It was always an option, and Sea-Land said they wanted to raise funds for their fleet renewal program," said Enrique Razon Jr., executive vice president of the container firm.
COAST GUARD REPORTS
GREAT LAKES' DROWNINGS
CLEVELAND - The July 4 holiday weekend claimed four drowning victims in Lake Erie in separate incidents in which pleasure boaters got into the water without life jackets, the Coast Guard's Great Lakes district command here said.
They were among six who drowned across the lakes last weekend. Two accidentally fell into other waterways from shore.
Lax safety measures on the part of recreational boaters can affect oceangoing cargo ships that come into the lakes through the St. Lawrence Seaway, or giant laker ships that haul iron ore, coal and other bulk cargoes across the region.
Operators of those vessels sometimes complain that recreational boaters do not observe proper safety around ship lanes, and that scarce Coast Guard resources must be used for costly search and rescue attempts.
CONTINENTAL GRAIN SET
TO CLOSE NY OFFICE
NEW YORK - Continental Grain Co. said it is closing its New York freight department effective Sept. 1.
The corporate freight operations will be integrated into Continental's worldwide commercial grain and oilseeds operations in Chicago and Geneva.
Stellar Chartering and Brokerage Inc., which charters vessels in support of Continental's North American Grain Division, will be located in Chicago.
Greg Estep was appointed vice president and will report to John Laesch, senior vice president, Commodity Marketing Group. Jan Jakubowski, senior vice president for ocean freight, will continue as an officer of Continental's Commodity Marketing Group in a freight advisory capacity in New York.
OOCL REGIONAL OFFICE
OPENS IN MELBOURNE
MELBOURNE, Australia - Orient Overseas Container Line Ltd. said it is further consolidating its presence in Australia by establishing an office here. OOCL Melbourne began operations Friday, the company said.
Reporting to the regional office in Sydney, the Melbourne office has a full staff to handling marketing, sales, operations and logistical matters for the state of Victoria.
Wilson Hung, managing director of OOCL (Australia) Pty. Ltd. said the office is directly linked with OOCL's global information system.
With three high-speed vessels, the Hong Kong-based company operates an independent conference service between the ports of Sydney, Melbourne, Adelaide, Brisbane and East Asian ports in Japan, Taiwan, Hong Kong, the Philippines and China.
LAKES CARRIERS ACTIVATE
ALL 48 SELF-UNLOADERS
CLEVELAND - The U.S.-flag "laker" fleet of Great Lakes bulk cargo carriers passed a milestone of sorts Tuesday as it activated all 48 self-unloader ships for the first time since the late 1970s.
The Lake Carriers' Association, the industry group for nearly all U.S. lakers, said strong dry-bulk customer demand since mid-June had brought out the last two idle self-unloaders operated by member companies.
On June 15, Oglebay Norton Co. of Cleveland activated the Buckeye, with a 23,200-ton capacity, for iron-ore hauls.
USS Great Lakes Fleet Inc. of Duluth, Minn., on Tuesday put its 12,650-ton Calcite II in short-haul salt and stone service.