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Shipping News

NOL's freight rates soar 29% in June
REFLECTING the ongoing recovery in the container shipping industry across the major trade lanes, Neptune Orient Lines said its average freight rates in June surged 29 per cent over the same period last year, due to improved yield mix and rate restorations.
Another tug hijacked off Indon islands
ARMED pirates have hijacked another Singapore-flagged tug and barge in Indonesian waters, in the latest in an alarming spike in violent attacks in the past month.
Maersk, P&O, Cosco in China venture
AP Moller-Maersk A/S said it agreed with Cosco Pacific, the port arm of China's largest shipping company, and P&O Ports to develop a US$877 million container terminal, which will be China's largest, in the eastern city of Qingdao.
Hutchison buys 51% stake in Mexican port
HUTCHISON Port Holdings, the port operating arm of the world's biggest port company Hutchison Whampoa Ltd, bought a 51 per cent stake in LC Terminal Portuaria de Contenedores SA de CV, its third investment in a Mexican port, the Hong Kong-based company said in a statement.

Air and Land Transport

Weekend strike hits more BA flights at Heathrow
A wildcat strike hit British Airways' Heathrow Airport operations causing delays and the airline's shares to stumble yesterday.
Sydney Airport's earnings up 19%
BA among 30 carriers seeking flights to Baghdad
European airlines' loss to hit US$2.4b
Eurotunnel cuts first-half loss with exceptional gains
Abacus logo reflects new positioning

web site

Shipping News

NOL's freight rates soar 29% in June
REFLECTING the ongoing recovery in the container shipping industry across the major trade lanes, Neptune Orient Lines said its average freight rates in June surged 29 per cent over the same period last year, due to improved yield mix and rate restorations.
Another tug hijacked off Indon islands
ARMED pirates have hijacked another Singapore-flagged tug and barge in Indonesian waters, in the latest in an alarming spike in violent attacks in the past month.
Maersk, P&O, Cosco in China venture
AP Moller-Maersk A/S said it agreed with Cosco Pacific, the port arm of China's largest shipping company, and P&O Ports to develop a US$877 million container terminal, which will be China's largest, in the eastern city of Qingdao.
Hutchison buys 51% stake in Mexican port
HUTCHISON Port Holdings, the port operating arm of the world's biggest port company Hutchison Whampoa Ltd, bought a 51 per cent stake in LC Terminal Portuaria de Contenedores SA de CV, its third investment in a Mexican port, the Hong Kong-based company said in a statement.

Air and Land Transport

Weekend strike hits more BA flights at Heathrow
A wildcat strike hit British Airways' Heathrow Airport operations causing delays and the airline's shares to stumble yesterday.
Sydney Airport's earnings up 19%
BA among 30 carriers seeking flights to Baghdad
European airlines' loss to hit US$2.4b
Eurotunnel cuts first-half loss with exceptional gains
Abacus logo reflects new positioning

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New container terminal sees first berth open Unsafe ships detained by Australian authorities MC Shipping to sell four `Great White' ships Zim picks Jamaica for five-year hub deal FSL starts direct groupage to Kuwait and Iraq Tranz Rail, Genesis to sign off coal deal HPH spreads wings to Mexican terminal Shanghai debut for maritime 'flying squad' AMR reports second quarter loss UPS sees dollars in new route assignments Pilot Air hits quarterly revenue record

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AADA to implement peak season surcharge Essar Shipping ties up with US-based AMA to bid for SCI Steady rise in books, publications & printing items export US denies protection to ink industry against Indian goods Chinese steel holds chilling prospects for India's exports 7-member SEA team to visit US, Canada this month-end Alappuzha port getting into tourism map Work on Vizhinjam port may commence in 2004 Pathetic state of roads in D'Node area Union urges Mumbai Port Trust to review tender for transportation of containers Forbes Patvolk's Container Terminal inaugurated in Vesvi Village, Uran Forex reserves jump by $ 869 million Inflation dips Sale of EOU products in DTA allowed on payment of effective rates Tests on cars imported by individuals likely to be waived soon Forex reserves swell by $ 483 m IGC places India among foodgrains exporting nations' list Promote Indian brand abroad, says Textile Minister Ex-im training programme by Jagatik Marathi Chamber Y. V. Reddy new RBI Governor Zonal DGFT to speak at IMC on Wednesday

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JULY 21, 2003
OPEC bullish on oil demand outlook, basket price above $28 again OPEC has upgraded its forecast for demand growth in the 2nd half of the year, boosting the call on OPEC oil to 26.32 million bpd during the 4th quarter. Despite this bullish demand forecast, there seems to be growing consensus within OPEC not to touch current production quotas of 25.4 million bpd a a meeting later this month. Great Belt market softens Crude seen steady near recent highs as supply concerns persist With OPEC keeping a lid on supply and demand expected to rise, the outlook for crude prices seems strong. There is enough oil in the market to satisfy demand, but because there is no inventory cushion in the US, the market stays high. Baltic supply problems continue Brazilian market update Mixed demand in major Asian markets as suppliers lower prices Terminal congestion still blighting St Petersburg fueloil avails Singapore opens week steady to soft despite Friday crude gains Suppliers were a bit puzzled that cargo prices closed steady to soft even as crude prices have been firmer, but blamed weak demand in the bunker market. There is also a bit of regional weakness as Chinese buying interest is expected to ease off for August after hefty imports in June has left storage in Huangpu brimming with fuel. Rotterdam moves lower since this morning

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JULY 21, 2003
Sharjah opens «Fourth Port» Emirates SkyCargo launches four new freighter routes Vienna Airport: Bucking the trend Good transit times on Trans-sib Stinnes: What price TDS?

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JULY 21, 2003
Norwegian company sentenced to hefty fine after oil spill Falkvarv wins large defence order Container ships in Antwerp collision

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JULY 21, 2003
Ports of Seattle and Tacoma gain additional OSC funding Union Pacific boosts order for refrigerated box cars P&O Nedlloyd offers guide on documentation Horizon Lines' Tacoma terminal no longer accepting paper Corps of Engineers shutting down Ballard Lock

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Liner giants back $1bn bid to boost Qingdao box port P&O, AP Møller-Maersk and China Ocean Shipping Co have backed a massive expansion of Qingdao that would push the Chinese container port into the world's top 10. Oil prices retreat but market likely to remain tight for rest of the year OIL prices ebbed back from five-week highs yesterday, but analysts warned of a quick return to short-term growth as demand continues to outstrip supply. Italy seeks protection from Chinese boom ITALY is to push for protectionist measures against China as a counterbalance to the unabated boom in westward flows of Chinese exports. TNT Logistics has designs on Volkswagen TNT Logistics has landed a five-year contract worth E 100m ($112m) to redesign inbound supply chains for a key player in China's booming car market, writes Roger Hailey. Lloyd's bids for Beijing licence Lloyd's lodged a submission with Beijing yesterday to secure a sought-after reinsurance licence before the start of 2005, Reuters reports.

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JULY 21, 2003
NCL Pride lengthening begins Greenpeace charged over boarding Drugs spotlight on Venezuela Hutchison buys into Cardenas US extends its 24-hour rule Ports reject Iraq-bound reefer Norway on course for Bremerhaven Kerala truckers end strike action Iran, Pakistan coastal trade urged Ferries blamed for Eurotunnel loss Scrap guidelines 'still illegal' Seafrance warns of tough year Majors commit to Qingdao expansion Be more aggressive, owners advised Tirrenia shrugs off SNAV allegation Essar brings in US finance for SCI

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JULY 21, 2003
Bowers: ILA cleaning up its act Amid reports of a possible federal racketeering lawsuit, union will write code of ethics, set up phone line for employees to report intimidation. Shanghai box volume jumps China's largest port handled 5.2 million TEUs in the first half of the year, up 35.6 percent year-on-year, continuing steady growth that is prompting rapid expansion. China hub tops A.P. Moller agenda The parent of Maersk Sealand said it has inked several large contracts with a range of business partners in China. Matson names Andrasick president, CEO TPG wins China logistics contract DHL expands customs clearance test Kitty Hawk offers Alaska service Northwest launches Web-based billing U.S. indicts Greenpeace for illegal boarding Inchcape, Polish group ink deal Union Pacific boosts reefer order Customs finalizes cargo-filing proposal House moves forward on dredging

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JULY 21, 2003
Terminal majors' northern China partnership 'will create new global top 10 container port' AP Moller and COSCO today signed into the Qingdao Qianwan Container Terminal (QQCT) phase III, which partner P&O Ports (POP) said will place Qingdao among the global top 10 container ports. Terminal that will push HK above 25.5m TEU opens Update: Antwerp collision lays up two Europe/Med boxships HPH reverses Mexican defeat, takes majority terminal stake Geest, Norfolkline slake Ireland's thirst for bigger vessels Brazil port rail link targets burgeoning Vale do Paraiba Malaysian port fees modernised, but Penang users fear hike

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JULY 21, 2003
Andrasick confirmed as Matson CEO Group carries out second reshuffle in twelve months. Braemar Seascope in takeover talks Shipbroker plans move into port agency through acquisition of Cory Brothers. AMA rules out SCI bid Morten Arntzen says Essar intends to walk privatisation path alone. Port face-off ends in victory Bush administration backs down over funding for Operation Safe Commerce. Fighting terrorism is expensive But OECD warns cost to the shipping industry is much lower than a major attack. Shipyard chief out of jail Carl Fredrik Seim released as police complete vital evidence gathering. MISC takes control of training academy Malaysian owner builds stake in college for trainee seafarers from all over Asia. Jurong clinches Wan Hai pair Singapore yard also has options for two more boxships from Taiwanese container giant. Greenpeace in dock over boxship protest Boarding of APL Jade in timber protest last year could prove costly for environmental group. Vroon books four in Korea Hyundai Mipo follows up Saudi order with deal to build chemical tankers for Dutch owner. Ta-Tong Marine fined Oily waste discharge from bulk carrier leads to $750,000 penalty. Single hull phase-out moves forward IMO December meeting could back EU plan for 2005 ban on category one tankers. Trio aims to propel Qingdao into top ten P&O, Maersk and Cosco plan $1bn investment in Chinese container terminal. Dutch dredgers circulated for sale Royal BAM in talks over world's third-biggest dredging company, Ballast Ham. Hutchison inks stake in Mexican terminal Hong Kong port operator expands global presence with acquisition of Pacific coast container facility. Maersk and Ofer boxships collide No reports of casualties as two containerships come together off Belgian port of Antwerp. NOL revenues keep on climbing Singapore flagship carrier sees average freight levels increase 30% for second consecutive month. Seabulk set for improved second quarter Florida-based operator forecasts a year-on-year improvement of over 20% in operating results.