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Shipping News

Shipping much safer now than decade ago
THE global shipping industry is in much better shape - despite recent high profile casualties - than it was a decade ago, according to the head of the International Maritime Organisation.
RCL sets coupon rate for 2.5b baht bond issue
THAILAND's Regional Container Lines will pay a fixed coupon of 4 per cent in the first three years on a 2.5 billion baht issue of six-year bonds, one of the issue's underwriters said yesterday.
World Nordic wins full legal control of Bergesen
WORLD Nordic Shipping won full legal control of Norwegian shipping line Bergesen on Wednesday under a US$1.4 billion takeover bid, after some reluctant shareholders agreed to sell.

Air and Land Transport

EU set to seek open skies pact with US
EU governments are set to allow the European Commission to negotiate an 'open skies' aviation treaty with the United States on their behalf, diplomats said on Wednesday.
European airlines may lose US$2.5b this year
Sars causes flight bookings across Asia to dive 20%
China to consider Taiwan's freight charter proposal
Man arrested on Qantas flight
Emirates may order planes worth US$20b next month

Admiralty Casebook

'Competent court' is any admiralty court able to hear in rem claim
THE English Court of Appeal decided recently that the words 'competent court' in a P&I Club's letter of undertaking meant any court that was able to exercise admiralty jurisdiction and not a court in a jurisdiction where its member's vessel or sister ships were at the time of the in rem action.

web site

Shipping News

Shipping much safer now than decade ago
THE global shipping industry is in much better shape - despite recent high profile casualties - than it was a decade ago, according to the head of the International Maritime Organisation.
RCL sets coupon rate for 2.5b baht bond issue
THAILAND's Regional Container Lines will pay a fixed coupon of 4 per cent in the first three years on a 2.5 billion baht issue of six-year bonds, one of the issue's underwriters said yesterday.
World Nordic wins full legal control of Bergesen
WORLD Nordic Shipping won full legal control of Norwegian shipping line Bergesen on Wednesday under a US$1.4 billion takeover bid, after some reluctant shareholders agreed to sell.

Air and Land Transport

EU set to seek open skies pact with US
EU governments are set to allow the European Commission to negotiate an 'open skies' aviation treaty with the United States on their behalf, diplomats said on Wednesday.
European airlines may lose US$2.5b this year
Sars causes flight bookings across Asia to dive 20%
China to consider Taiwan's freight charter proposal
Man arrested on Qantas flight
Emirates may order planes worth US$20b next month

Admiralty Casebook

'Competent court' is any admiralty court able to hear in rem claim
THE English Court of Appeal decided recently that the words 'competent court' in a P&I Club's letter of undertaking meant any court that was able to exercise admiralty jurisdiction and not a court in a jurisdiction where its member's vessel or sister ships were at the time of the in rem action.

web site

Shipping News

Shipping much safer now than decade ago
THE global shipping industry is in much better shape - despite recent high profile casualties - than it was a decade ago, according to the head of the International Maritime Organisation.
RCL sets coupon rate for 2.5b baht bond issue
THAILAND's Regional Container Lines will pay a fixed coupon of 4 per cent in the first three years on a 2.5 billion baht issue of six-year bonds, one of the issue's underwriters said yesterday.
World Nordic wins full legal control of Bergesen
WORLD Nordic Shipping won full legal control of Norwegian shipping line Bergesen on Wednesday under a US$1.4 billion takeover bid, after some reluctant shareholders agreed to sell.

Air and Land Transport

EU set to seek open skies pact with US
EU governments are set to allow the European Commission to negotiate an 'open skies' aviation treaty with the United States on their behalf, diplomats said on Wednesday.
European airlines may lose US$2.5b this year
Sars causes flight bookings across Asia to dive 20%
China to consider Taiwan's freight charter proposal
Man arrested on Qantas flight
Emirates may order planes worth US$20b next month

Admiralty Casebook

'Competent court' is any admiralty court able to hear in rem claim
THE English Court of Appeal decided recently that the words 'competent court' in a P&I Club's letter of undertaking meant any court that was able to exercise admiralty jurisdiction and not a court in a jurisdiction where its member's vessel or sister ships were at the time of the in rem action.

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Yang Ming takes measures against Sars Chinatrans International granted NVOCC licence Taca alters CAF as US dollar depreciates NOL shareholders approve sale of American Eagle unit Exel becomes member of C-TPAT programme AirNet Systems suffers Q4 loss despite rise in revenues DHL Airways to change name to Astar Air Cargo United Airlines posts net loss of US$375m in April

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OTAL fine-tunes three strings NOL back in black with $ 20.3-m Q1 profit Cost efficiency helped OOCL during a difficult 2002 APLL names new Senior VP APL on course to deliver higher profits Grand Alliance's new service covers China Port of Tanjung Pelepas accorded airport status by IATA - A world-first scored "K" Line more than doubles net income P&O sells stake in offshore unit Four berths at Northport get 15-m draughts MOL in Brazil feeder agreement Shipping lines to impose congestion surcharge on South Africa-bound cargo w.e.f. June 1 Exports to US register 20 pc rise during Jan-March 2003, Commerce Ministry data reveal Govt taking steps to restrict import of agricultural goods Pak ready to guarantee safety of India-Iran gas pipeline CII team in Kuwait explores business scope in Iraq Apparel exports surge by 14 pc in Jan-April 2003 - SARS spells China's loss, India's gain Chemexcil to sign MoU with South Korea High-speed wagons to connect CONCOR's ICD network to P&O Ports-operated terminals - MoUs signed to improve rail link to gateway ports Diamond Dollar Account Scheme extended to studded jewellery exporters Prices of 22 bulk drugs/derivatives revised Party-to-party contract trading in 39 commodities liberalised Customs duty on set top box for TV slashed 8.7 pc rise in steel output in April India should sign free trade pacts with LAC Vietnam for closer economic ties with India WTI diploma courses to begin on June 2 Apeda campaign to popularise mangoes in Dubai Interactive meet with Iran Consul Gen. on June 6

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MAY 29, 2003
Firm West Coast loses out as Singapore tumbles Vancouver market firm and quiet Bulls return to oil market as US gasoline stocks fall Houston: Congestion at terminals or terminal congestion? Daily Bunker market report from Praxis Energy Agents Istanbul: Market quiet and steady Singapore bunker prices dive on soft crude and rising stocks Japanese bunker market attracts business after bearish run Singapore: Hai Soon's bunkering licence cancelled Italian avails to improve - but not quite yet

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MAY 29, 2003
Commendation for Merchant Marine Reservist Grant Johnson Vital liaison role in Iraqui Freedom O'Neil opens critical MSC session IMO's Maritime Safety Committee has another lengthy "to do" list

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MAY 29, 2003
Corps to perform dye test to detect flows at The Dalles Dam "K" Line strengthens car carrier fleet with construction of three vessels in China Coast Guard helicopter rescues stranded hikers State of Washington continues fight to land Boeing 7E7 final assembly Port of Goteborg Sweden deploys Customs' CSI program

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Creditors chase millions after Kien Hung collapse DOZENS of creditors of Taiwanese line Kien Hung are chasing millions of dollars in debts and its banks have forced the arrest of three ships with more expected to follow, Lloyd's List can reveal. Arrested ships could be auctioned but pickings may be small for all but banks IF NO- one acknowledges creditors' writs against Kien Hung and its subsidiaries, then the arresting party of the company's three ships, believed to be the banks, can apply to the court for an application for a judicial sale - a de facto auction, write Sam Chambers in Hong Kong and Marcus Hand in Singapore. Hong Kong High Court writs on Kien Hung (All pending) Amount in US$

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MAY 29, 2003
Evergreen force majeure 'hollow' TMM shares slump in New York Decade to be proud of: O'Neil Exhaust scrubbers demanded Al Najat victims protest in Morocco Operator fined in US over dumping QE2 is not for sale Norway death toll is now six Alang death toll rises to eight Singapore cancels bunker licence Star struggles to shine Grimaldi positive on Spain India to relax cabotage law Kwangyang targets 12,000-TEU ships French port strike on June 3 Controversial ferry link resumes Sinking heightens Bosporus concern Matson saga reaches conclusion Russians sue over Prestige report

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MAY 29, 2003
Weaker air-cargo volume in April The war in Iraq took its toll on U.S. air cargo carriers in April, as international freight and express traffic fell 1.7 percent. EU agrees to U.S. open-skies talks The long-sought accord likely will hasten consolidation among airlines on both sides of the Atlantic. China considers Taiwan cargo flights Beijing has reportedly agreed to consider a proposal for direct cargo charter flights between the two countries. Dragonair can challenge Cathay China flights New OOCL box vessel for Canada-Europe service Georgia Ports Authority joins C-TPAT Consolidated Fastfrate opens Calgary hub FedEx plans Bahrain facility U.S. truck volume up in April Yellow tabs HR chief Struijs to head International Association of Ports and Harbors TIA names board

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MAY 29, 2003
Sea Consortium inherits healthy intra-Europe trade from lossmaking MISC feeder MISC's Iberia/Scandinavia feeder service (ISX) was withdrawn at a time of rallying utilisation, according to MISC sources, but sizeable losses had already sealed the service's fate at company HQ. TCP fights public-sector bid to end its Paranagua monopoly Private operator Teminal de Conteineres de Paranagua (TCP) is countering a public-sector campaign to end to its monopoly in Paranagua, with a pledge to improve on last year's disappointing performance. Japanese group joins rush to fill Iraq's logistics void US legislators threaten industry with nightmare regulations US$72 million loss for MISC's liner segment P&OP Indian rail deal eclipses plan for Concor rival US 'restores' Operation Safe Commerce funds amid disarray MSC opens new inland container depot for northern England

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MAY 29, 2003
Lackadaisical master criticised Diarrhoea and myriad human failings led to costly RCCL cruiseship grounding. RMS Mulheim salvage ends Ship begins to break up leaving up to 15 tonnes of cargo onboard. Italian player ups Minoan Lines stake Greek ferry owner slims loss as it moves to pay down debt and rebuild profit. Winter blues keep OVDS in the red Norwegian ferry owner hit by low season and higher wages in first quarter. Norway blast death toll climbs to six Investigators say explosion occurred in one of cruiseship's four boilers. Halim Mazmin profit climbs Malaysian owner Halim Mohammad confident of maintaining profit performance for this year. Lithuanian Shipping sell-off to continue State dismisses reports of doubt over process as three bidders remain in frame for cargoship owner. Greek owners face Varna setback Minister may block plan to privatise Bulgarian shipyard. UK port volumes down in 2002 Grimsby and Immingham still number one, but overall traffic fell by 1% last year. Earnings down at Tamai Steamship Japanese owner's net losses grow despite improvement in operating margins. TFDS sells and charters back ferry Norwegian owner books tidy profit on Nordlys deal, while keeping vessel in fleet. Clarkson upbeat on 2003 Broker taking "appreciable" advantage of favourable market conditions to be "well ahead" of expectations. Panamax bulker slams fishing boat One fisherman missing, another rescued in collision off north Australian coast. TEN inks FLOPEC alliance New York-listed Greek tanker owner ties up with Ecuadorian state owned shipping company. Grumant fined over Portland pollution Owners of open hatch bulk carrier coughs up $275,000 for dumping oily waste and falsifying records. Shell inks Singapore provisions deal Local firm Sinwa KS secures exclusive deal to supply UK oil giant's ships in Lion Republic. FEFC aims for more rate rises New price hikes on the cards in Asia as container conference expands 2003 business plan.

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MAY 29, 2003
CORRECTION: TACA CAF 3% China Shipping rationalizes transpacific tonnage, services Great Western resumes Pacific service with own ships Hyundai Merchant Marine reports first-quarter loss New 4,400-TEU ship to join Europe/Montreal trade Airfreight volume up but losses continue U.S. seeks more foreign investment in airlines Grupo TMM's loses protection from creditors Doyle joins Jones Walker FMC reviews OTI license applications PBB, Purolator Canada form joint venture COAC meeting set for June 20 U.S. lumber lobby hails WTO decision Customs Set to Expand FAST, C-TPAT U.S. and Chile free trade agreement 'Grumant' operator pleads guilty to one felony count $480 million for new Pusan terminal London port authority sees 1% increase in traffic