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Shipping News

Ports told to keep pace with growth
A booming Asia led by China and India would mean that the region needs to build up its port infrastructure fast enough to meet the growth in maritime trade.
Containerised trade imbalance set to worsen
THE imbalance of containerised trade flows is set to worsen as global manufacturing becomes even more concentrated in Asia and seaborne cargo becomes cheaper, according to a top maritime economics academic.
AP Moeller seen posting 27% rise in '03 profit
DENMARK's shipping and oil group AP Moeller-Maersk is seen posting a 27 per cent rise in 2003 net profit before special items thanks to high freight rates and oil prices.
Carnival cruises to higher first-quarter earnings
CARNIVAL Corp-Carnival plc, the world's No 1 cruise group, reported better-than-expected quarterly earnings as bookings and prices bounced back from lows caused by Iraqi war fears in early 2003.

Air and Land Transport

Pacific island states told to tighten security
AUSTRALIA warned its Pacific island neighbours yesterday it may refuse landing rights to aircraft from countries with lax airport security amid fears they could be the next launching pad for terrorist attacks.
Virgin Atlantic to add 1,400 jobs
Delta slashes Mullin's cash pay to US$1.17m
Korean Air, Asiana increase flights
LOG Book

web site

Shipping News

Ports told to keep pace with growth
A booming Asia led by China and India would mean that the region needs to build up its port infrastructure fast enough to meet the growth in maritime trade.
Containerised trade imbalance set to worsen
THE imbalance of containerised trade flows is set to worsen as global manufacturing becomes even more concentrated in Asia and seaborne cargo becomes cheaper, according to a top maritime economics academic.
AP Moeller seen posting 27% rise in '03 profit
DENMARK's shipping and oil group AP Moeller-Maersk is seen posting a 27 per cent rise in 2003 net profit before special items thanks to high freight rates and oil prices.
Carnival cruises to higher first-quarter earnings
CARNIVAL Corp-Carnival plc, the world's No 1 cruise group, reported better-than-expected quarterly earnings as bookings and prices bounced back from lows caused by Iraqi war fears in early 2003.

Air and Land Transport

Pacific island states told to tighten security
AUSTRALIA warned its Pacific island neighbours yesterday it may refuse landing rights to aircraft from countries with lax airport security amid fears they could be the next launching pad for terrorist attacks.
Virgin Atlantic to add 1,400 jobs
Delta slashes Mullin's cash pay to US$1.17m
Korean Air, Asiana increase flights
LOG Book

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MOL to invest in over 200 vessels as part of financial plan MSC to launch Lion service next month UPS CampusShip available in Hong Kong Jieyang shifts highway expansion in to higher gear Hapag-Lloyd orders two vessels APM 2004 conference attracts 70 'hosted buyers' PSW2 service to call at Yantian port Shenzhen foreign trade up 11.7pc over first two months HK Economic Development secretary calls for advanced air services Cathay Pacific signs code share agreement with Aeroflot Emirates positions itself to cash in on EU expansion

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A. P. Moller to order 129 newbuildingsa Khadi units told to focus attention on exports Pak keen on trade ties in IT, tourism, oil sectors: India Inc No need to import sugar: ISMA Tea exports rise by 34.91 pc in January Groundnut oil exports likely to touch 70,000-tonne mark Coir exports register 16 pc hike during April-February 2003-04 Steel exporters shy away from Chinese market as prices fall India is shining, so is JNPCT! - Crosses 1 m TEUs for current fiscal, aims to be the leader CWC chalks out Rs 300-cr. pilot project for bulk handling of foodgrainst Industrial output records 7.4 pc growth in Jan. Tax benefits for only those who make profits from exports: Supreme Court Bharti-Changi JV to bid for Mumbai, Delhi airports development Forex reserves rise by $ 464 m Action plan drawn up to double foodgrains' output by 2012 India-UK economic cooperation in SMEs sector likely Russian business team in India on 7-day visit Indo-European IT Forum for SMEs to meet today GJEPC plans to undertake study tour of China IOC move to charter ships may be delayed Centre convenes meet to discuss rising edible oil prices CII signs MoU with LSE for information exchange project

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MARCH 24, 2004
Steady Gulf Coast ports see muted demand Crude falls after big US crude build, moderate gasoline draw Oil prices fell today after weekly statistics from the US Department of Energy (DOE) surprised the market with a huge rise in commercial US crude inventories. The DOE also showed a minor draw in gasoline stocks compared to forecasts. New Saudi posted prices, possible tightness for April Barge service returns to Lazaro Cardenas ICS Petroleum and Naval Mexicana joint-venture moves Apolo to Mexican west coast port. Antwerp below Rotterdam as trader prepares for export The Rotterdam trade market for high sulphur fuel oil (HSFO) has been supported by keen buying activities from one or two big traders. As a result, trade and bunker markets in Antwerp were able to beat Rotterdam on price today. Shutdown postponement eases supply fears Planned April closure at Greek state-owned Hellenic Petroleum's Aspropyrgos refinery postponed Piraeus holiday postpones prompt supply Low demand and good avails depress South Korean market Low demand and increasing avails stocks have managed to surpress indications in South Korean ports. 'New' Libya opens up to bunker market Greece-based trader Medstone SA offering delivery service for IFO120 and MGO at three Libyan ports. Rotterdam market reflects overnight crude rise USGC supplier's new ex-pipe services first of 'number of steps' Houston Marine Services agreement with Texas City marine terminal operator for ex-pipe delivery to start April 1

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MARCH 24, 2004
Morocco, Jordan, Tunisia and Egypt sign FTZ agreement Norbert Dentressangle surpasses financial targets SeverstalTrans (SST)makes debut on capital markets Swiss suspends co-operation with Polar Marseille tightens security in wake of Madrid New appointments at Renfe Cargas

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MARCH 24, 2004
Hatsu Marine Ltd to become an operator of the ELS service Sinotrans and MOL in car venture CalMac orders in Poland Smit orders in Singapore CP buys logistics firm

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MARCH 24, 2004
BPA awards $1.5 million grant for Sea-Tac Airport energy program FESCO changing rotation for FANAL's PNW loop service TSA earmarks $19.3 million to boost trucking watchdog program Oregon governor tours Northwest Container Services Seattle-based Coast Guard cutter breaks record for most drugs seized

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Qatar takes $6bn step towards number one slot for gas-to-liquids QATAR'S ambition to become the global gas-to-liquids capital of the world is taking a giant step forward with three new projects totalling $6bn. Greek duo order more LNG ships TWO leading Greek shipowners are expanding their commitment to liquefied natural gas shipping with orders for further tonnage, writes Tony Gray. VLCC rates hit five-month low VERY large crude carrier rates have nearly halved in the last week, dropping to five-month lows on the back of soft market sentiment and increasing vessel availability. US Coast Guard to make ISPS foreign port checks VISITS to foreign harbours involved in US trade will be an integral part of the US Coast Guard's implementation plan on the International Ship and Port Facility Security Code that comes into force on July 1, a senior official said in Stamford this week. City of London mayor in anti-terror call A CALL for more intensive efforts to fight terrorism and money laundering has come from Robert Finch, who as Lord Mayor of the City gives strong backing to the interests of the financial centre, writes James Brewer. P&O Nedlloyd pays record $32,500 a day for boxship pair P&O Nedlloyd is paying record charter rates for a pair of Hansa Mare-owned panamax containerships as the market continues its heady upwards march, writes Janet Porter.

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MARCH 24, 2004
Intra-Asia trade may hit Singapore GROWING Intra-Asia trade could hit container transhipment ports such as Singapore, a senior official of the Maritime and Port Authority, Singapore said today Have Your Say! WOULD you feel comfortable reporting "characteristics and behaviour patterns of people likely to be security threats" among your colleagues, clients and contacts? Shoreside security crucial NEW maritime security regulations should extend to shoreside office practice, and effectively include personnel profiling, conference speakers say Labour agreement reached in US POSSIBLE labour problems in US East and Gulf Coast ports were averted yesterday when the Longshoremen Association reached a six-year deal with US Maritime Alliance Fourth time unlucky for dredger AS the Belgian dredger Filippo Brunelleschi experiences its fourth mishap, its crew, some who have been hospitalised, must be thinking it is the world's unluckiest dredger USCG not ready for AIS COAST Guard receiving stations may not be equipped in time to receive signals from ships newly fitted with AIS under the ISPS Code, the US Senate heard today Big money for a name change Bulker under tow Chinese charged in people-smuggling Superferry 14 search ends Contship asks for support Cruise ship diverts from cyclone Chaos reigns at Paranagua Festival to meet with creditors Vostochnyy benefits from rail slump Diamond Princess fire verdict

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MARCH 24, 2004
Ports still a terror target, hearing told Maritime and security agency chiefs tell Senate committee that U.S. ports remain vulnerable to terrorist attacks. At NCBFAA: End to paper filings near Census readies raft of new export e-filing rules. House committee approves highway spending bill Calls for increased U.S. rail security Nedlloyd shareholders approve P&O buyout, IPO DoD, NATO will test sharing RFID networks APL sets up Russian company Evergreen opens India offices Strike to cut CN profit Pakistan to install container screening machines Former PONL exec to head Management Dynamics board Hatsu Marine joins Europe service

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MARCH 24, 2004
Services vulnerable as charter rates charge again High charter rates are making some services vulnerable to cuts as the spiralling costs bring the viability of some strings into question. Deutsche Bahn warns of drastic network investment downscaling Korean government to extend Gwangyang exemptions until 2006 CP Ships to acquire 'key' Canadian forwarder AustralAsia Railway moves first Asian export boxes Madrid bombs light fuse of rail and maritime security demands Evergreen to launch dedicated Taiwan-Thailand service Intermodal took brunt of CN strike P&O Ports to invest C$130m in Vancouver's Centerm Auckland awards dredging, terminal contract as box volumes slip

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MARCH 24, 2004
Children of the Revolution Psychologically-damaged owners need to adjust their thinking and get used to the good times, US broker tells CMA. Payout hope for Lloyd Werft Insurers ready to hand bankrupt yard cash to complete damaged Pride of America. Double-hulls fail to cut big spills BV chief Bernard Anne also urged at CMA to take the lead on protecting bunker tanks. US east coast docks deal Agreement between union and port bosses averts west coast dispute re-run. New UAE-Iraq ferry link Marwan Shipping runs passengership between Ajman and Iraqi ports of Umm Qasr and Abu Fulus. Gorthon confirms ship swap Swedish owner buys partner B&N's ro-lo Finnfighter for new combined Atlantic service. Tidewater expects downturn US supply ship giant warns of lower fourth quarter profits than analysts are predicting. Maran Gas to sign up LNG ship John Angelicoussis makes it a double celebration at Daewoo with VLCC naming. Tug attacked off Singapore Three crewmen injuried as knife wielding pirates seize vessel in western anchorage. APL plants Russian roots NOL containership unit founds company to handle Russian and CIS business. Final Mississippi body found Leisure craft spots final corpse from supply ship Lee III, which sank last month. Mirage 1 sold to Isramco Israeli energy firm pays just over $8m at auction to pick up veteran cruise liner. Thoresen shares surge Investors pile into Thai bulker owner after ING analyst raises profit forecast by a third. Vancouver port to expand UK's P&O ready to spend CAD 130m to double Canadian terminal's capacity within 18 months. CP Ships snaps up ROE Liner company moves into supply chain management with acquisition of Canadian firm. Japan set for bumper haul Nation's shipbuilders look set for record newbuilding year despite weaker penultimate month. Karageorgiou quits Stelmar Stelios Haji-Ioannou right-hand man to step down from tanker board to concentrate on cruise. EMTA ups Italian rates Rising costs prompt container conference to increase charges from southern Italy to north Europe.

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MARCH 24, 2004
Asia/Canada carriers revise rate increases Royal Nedlloyd stockholders approve P&O Nedlloyd buyout APL opens agency company in Russia DHS, DOT need better coordination of rail security measures Bush considers sharing export data with foreign governments Mandatory electronic export filing moves closer to reality Loy urges continued industry cooperation with DHS CP Ships moves into logistics with Canadian acquisition DeMarchi appointed NAMA's coordinator of technical and export programs P&O Ports signs 51-year lease in Vancouver

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MARCH 24, 2004
Gorthon acquires "Finnfighter" Gorthon Lines has acquired the 15,092-DWT ro-lo carrier "Finnfighter", built 2001, from B&N Nordsj'frakt. The vessel will ... Stolt-Nielsen face renewed legal threats Chemical tanker operator Stolt-Nielsen SA faces a renewed threat of legal action after the US Department of Justice withdrew ... Japanese shipowner to invest EUR 8.8 billion in new ships Japanese MOL's plans up until 2010 include JPY 1,160 billion (EUR 8.8 billion) in investments in new ships. The fleet ...