BOOSTS OSG EARNINGSOverseas Shipholding Group Inc. said an accounting change boosted its net income for the quarter ended March 31 to $13.14 million, or 38 cents a share, from $13.07 million, or 36 cents a share, a year earlier.
The 1990 figure includes a $1.4 million gain from a change that OSG said would more accurately reflect estimated salvage values.
Revenue for the bulk shipping company with an operating fleet of 68 vessels rose sharply, however, to $99.4 million from $73.7 million.
The company said it expects a substantial gain for the next quarter
because it has contracted to sell one of its tankers.
SHIP CONFERENCE SETS
HIKE IN TERMINAL FEES
SAN FRANCISCO - A group of shipping lines that sails from the West Coast to Australia and New Zealand scheduled an increase in terminal receiving charges effective Aug. 1.
The Pacific Coast/Australia- New Zealand Tariff Bureau said the charges will increase to $12.50 a metric ton or cubic meter. For cargo rated on a lump-sum container basis, charges will increase to $290 a 20-foot container or $580 a 40-foot container.
These increases apply to tariffs from the United States and Canada to Australia and New Zealand.
The rate-making body is made up of ACT/PACE, Australia-New Zealand Direct Line, Blue Star Line Ltd. and Columbus Line.
RICHMOND, CALIF., PORT
FETES 130TH ANNIVERSARY
RICHMOND, Calif. - The Port of Richmond will have public tours of pilot boats, oil recovery vessels, Coast Guard cutters and training ships Friday and Saturday as part of its 130th anniversary.
The event also will see several sites around the port named historical landmarks. These include Ellis Landing near Terminal 3; Point Richmond, which is celebrating its 90th anniversary as the western terminus of the Santa Fe Railway; and Marina Bay Kaiser Shipyard, which is celebrating its 50th anniversary.
The port will conduct ferry boat tours of the Richmond harbor, a search and rescue demonstration and railroad car exhibits.