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RCL Q2 earnings surge 83% on strong cargo volumes, rates
RIDING the crest of booming intra-Asia trade, Regional Container Line posted an 83 per cent rise in second quarter net profit to 4.2 billion baht on the back of improved cargo volumes and higher freight rates.
P&O Nedlloyd, Maersk Sealand to merge in Feb
P&O Nedlloyd and Maersk Sealand will officially become Maersk Line from February 2006, the point from which P&O's involvement in the container shipping industry's Grand Alliance will also cease.
New York port booms, but security costs erode gains
ALTHOUGH the ports of New York and New Jersey have improved their productivity to handle a rising flow of imports, their increased security costs since 9/11 have eroded some of the gains, according to a study released on Monday.
DHL Danzas Air & Ocean sees 15% rise in Asia sales

Strait Talk

Will consolidation pay for huge new ships?
AN article in the e-mail newsletter Bow Wave, which covers mainly maritime insurance issues with a particular emphasis on the liner trades, caught my eye recently.

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Shipping News

RCL Q2 earnings surge 83% on strong cargo volumes, rates
RIDING the crest of booming intra-Asia trade, Regional Container Line posted an 83 per cent rise in second quarter net profit to 4.2 billion baht on the back of improved cargo volumes and higher freight rates.
P&O Nedlloyd, Maersk Sealand to merge in Feb
P&O Nedlloyd and Maersk Sealand will officially become Maersk Line from February 2006, the point from which P&O's involvement in the container shipping industry's Grand Alliance will also cease.
New York port booms, but security costs erode gains
ALTHOUGH the ports of New York and New Jersey have improved their productivity to handle a rising flow of imports, their increased security costs since 9/11 have eroded some of the gains, according to a study released on Monday.
DHL Danzas Air & Ocean sees 15% rise in Asia sales

Strait Talk

Will consolidation pay for huge new ships?
AN article in the e-mail newsletter Bow Wave, which covers mainly maritime insurance issues with a particular emphasis on the liner trades, caught my eye recently.

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HK lags behind Lion City in July container throughput China Cosco Holdings to become H-share on HK Stock Exchange Globe Express Services expands in NE US Yellow Roadway makes management changes Hanjin second half business outlook positive: report GAC joins Thai Customs to stamp out graft Bimco applauds "Eye in the Sky" initiative against piracy China Southern sacks top official Northwest to connect `Heartland' cities with Vegas US Department of Homeland Security selects DHL as delivery provider Former presidential aide joins UPS board

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Seaways Coastal Express service proves to be a boon for shippers from N. India & MLOs Fasa urges London insurers to review ASEAN region war risk decision DCI appoints consultant to suggest areas for improvement GMB, Malaysian dredging co. may float joint venture Crew must take US visa restrictions very seriously-UK P&I Club German logistics CEO sees huge growth potential in Asia DGS puts out 'missing person' bulletin Varun Shipping enters Big League LPG transportation Ship scrap rates in Bangladesh soar Basmati rice exports rise by 45 pc MbPT Board initiates move to develop cruise terminal behind Radio Club Andhra High Court recalls order halting Gangavaram port construction People's Port Ltd formed to speed up Vizhinjam terminal project Vizag Port confident of exceeding MoS target by over 5 m tonnes Rail freight exceeds target during April-July CBEC to delink duty drawback payments from bank certificates, says DEA chief IIP growth figure in June fastest in decade Stringent norms set for export of dairy items Exports poised to grow by 17 pc in 2005-06: Commerce Secy No interest on first instalment of fbt till Aug. 31-CBDT

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AUGUST 16, 2005
Switzerland's SBB selects new CIO OOIL profits rise Lufthansa harvests EUR 253 million operating profit TNT Express adds five more routes to Middle East road network U-Freight relocates freight hub in Houston, USA

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AUGUST 16, 2005
Israeli cruiseships avoid Turkey Stena orders US$600m drillship Latvian master fined for Colregs breach HK box traffic continues to rise PSA in running for Turkish port

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AUGUST 16, 2005
Admiralty Shipyards to build Arctic shuttle tankers Layoffs at Northrop Grumman Gulf yards Offshore SCORE up again Gibbs and Cox preferred designer for Australian destroyer project

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Energy giants eye up Rotterdam for new LNG import terminals PETROPLUS has announced plans to develop a liquefied natural gas import terminal in Rotterdam, on the same day that Vopak and Gasunie said they too were carrying out a feasibility study for an LNG terminal in the world's biggest port. Joint War Committee stands by Strait ruling A London marine insurers' body, the Joint War Committee, has refused to back down on its listing of the Malacca Strait as an area at risk from terrorism and related perils. Insurers join forces to sue brokers over Shell Floater LEADING insurance brokers Sedgwick, Sedgwick Energy and Marine, Marsh and a Lloyd's syndicate are facing a '3.2m ($5.8m) claim in a row over reinsurance. NSC orders newbuilds from 3. Maj CROATIAN shipyard 3. Maj has announced it is to build three ships for German company NSC in a $162m deal. Aleman elected ALBERTO Aleman was unanimously chosen by the board of the Panama Canal Authority to serve a second seven-year period as administrator. The move ended a period of speculation that he might have faced a serious challenge for the post.

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AUGUST 16, 2005
Malacca stays on war zone list INDUSTRY representations have failed to convince the Lloyd's Market Association Joint War Committee to remove the Malacca Strait from its 'war zone' risk listing, according to statements today from the International Chamber of Shipping (ICS), Intertanko and the JWC US drought closes Ohio River HUNDREDS of barges are now stuck on the US Ohio River because low water levels have forced the Coast Guard to close the commercial waterway German feeders join forces CONTAINER feeder lines operating out of Bremerhaven and Hamburg have followed the deepsea carriers' model and agreed to share their slot capacity California considers box tax CALIFORNIA legislators seeking to fund anti-pollution and road improvement projects are eyeing new taxes on container throughput Eagle Bulk hit by exceptional loss EAGLE Bulk Shipping reported a large loss during its first reporting period as a public company, but revenues were strong and the hit was due to non-recurring items ATI posts 50% net rise ASIAN Terminals (ATI), the Manila-based port operator, saw net profit growth of 50% for the first half of this year to PhP258.7M ($4.70M) Pierpass achieves 30% Piracy: Jamaica Earthquake hits Japan Grand Alliance to grow without PONL China Merchants to expand Qingdao

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AUGUST 16, 2005
Grand Alliance upping capacity by 14% Four carriers will deploy a total of 640,000 TEUs across 112 ships in East-West trade lanes as new ships come online next year. Strong June for Long Beach Hong Kong volume slows Record for diesel prices Hanjin links trans-Pacific, C. America Danzas sees growth, acquisitions New term for Panama Canal chief DHL breaks ground for Pa. hub New Tacoma security director Polar, pilots move closer to strike

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AUGUST 16, 2005
California container fee slammed as 'unconstitutional' A California bill seeking to levy a US$60/FEU tax on Los Angeles (POLA) and Long Beach (POLB) terminal operators is unfair and unconstitutional, the Pacific Merchant-Shipping Association (PMSA) have claimed. EU halts excess Chinese trouser imports Rotterdam Scholten affair report due by end of the year Tacoma investigation continuing Ukraine-Danube Shipping Co starts third Black Sea service Hanjin deploys bigger ships on transpacific HK Port losing out in struggle with Shenzhen Korea/China cargo volumes grow beyond 1m TEU

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AUGUST 16, 2005
Knightsbridge still dropping VLCC specialist has lost nearly 10% of share value since Friday's disappointing results. Sovcomflot profit edges up Top Russian shipowner reports marginal increase in first half result. HBK ups shipping stake Hedge fund pushes shareholding in Aker American Shipping past 5%. Charters work for Jutha Period cover boosts first-half profit for Thai multipurpose owner. Samsung making money again Korean yard group posts first half profit, but is still 70% down on 2004. Hanjin Heavy turns it around Korean shipbuilder builds profit in second quarter after tough start to year. Dr Peters gives something back German finance house boosted shareholder pay-outs by 40% last year in shipping freight boom. K Line ups forecast Japanese owner expects big cost savings despite higher bunker costs. Owner slams union blitz Frank Leonhardt hits back at ITF harassment as charterers seek answers. SCI sale scrapped again Indian government calls off shipping privatisation yet again after resurrecting it earlier this year. Deals boost Cosco Singapore listed offshoot to benefit from ship conversion deals and handymax sale. Ib opts for Titan Thirty-year AP Moller veteran to head up shipping operation at Hong Kong owner and oil trader. TTA grows again Thai bulker owner's bigger fleet making more money through third quarter. Eagle's wings clipped Exceptionals push recently listed US handymax operator to second quarter and interim loss. Seyang continues downwards Korean bulker and car ferry owner sees profits eroded in first half. Fairplay orders in Spain Astilleros Armon to build two new tugs for German operator for service in Hamburg and Rotterdam. Higher rates lift Solvang Norwegian gas carrier player boosted by better markets in first half of 2005. Front Rider refloated Fully-laden Frontline OBO resumes voyage to China after touching bottom in South China Sea.

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AUGUST 16, 2005
CMA CGM, P&O Nedlloyd to add Miami to U.S. East Coast/Brazil loop Maersk Sealand restricts fumigated containers for New Zealand World Air Holdings' second quarter profits up 62.9% Delta agrees to sell regional airline to SkyWest for $425 million GF-X changes advisory council Knight acquires Idaho reefer company UP orders 10 low-emission diesel-hybrid locomotives Yellow Roadway names Bruffett, Gaines, and Hacker to new positions U-Freight relocates Houston hub Commerce alleges dumping of Japanese chromium NYK Logistics gets go-ahead for South African subsidiary Penske Logistics takes ownership of Cotia Penske in Brazil Airborne vet Michael joins APX Great Northern packaging unit develops Cool Crate Waterfront Coalition, PMSA denounce California legislation Port of Long Beach July throughput soars

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AUGUST 16, 2005
Maersk sells three gastankers to India A.P. Møller-Mærsk has sold the last three gas carriers in its 35,000 cbm class. The buyer is Indian Varun ... Record performance by Dr Peters The shipping investor Dr Peters in Dortmund and Hamburg paid EUR 87.6 million to 40,000 fund shareholders last year, and ... Germany wants international alcohol restrictions at sea Germany will put a proposal to IMO to adopt an alcohol limit at sea. A proposal will be submitted to ...

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AUGUST 16, 2005
Study warns of low sulphur diesel availability shortfall US West Coast study warns that low sulphur distillate fuel only available on a case-by-case basis in key ports as regulators' plans to cap emissions levels gain pace. Texas gives green light to emissions-reducing marine additive US-based additives producer Biofriendly Corporation announces official approval of its marine diesel fuel enhancer. K Line ups forecast despite bunker costs Japanese shipowner raises profit forecast and expects bunker prices to ease. KIC predicts 600% revenue growth after signing ceremony Malaysia's KIC secures Westport bunkering facility and boosts trade finance facility for its expanding fuel oil buying activities. Russia: Commission to consider abolishing export duty A Russian government commission is reportedly planning to consider abolishing fuel oil export duty this week. Forecasters warn of record-breaking Atlantic hurricane season Record-breaking storm season heralds further threats to US oil supply. Petrolimex secures double-hull tanker for fuel oil imports IMO fuel oil transport ban prompts company to buy new tanker. Indonesia triples fuel oil imports in September Indonesian state oil company Pertamina has bought 1.65 million barrels of high sulphur fuel oil for September. Rotterdam market stable at noon South Korea: Poor bunker demand as prices stay firm The South Korean ports of Busan/Ulsan were hit by poor bunker demand as prices stayed firm on high crude oil prices. Bunker costs cut profits for bulk owner Bunkers blamed for falling profits. Port Klang operations unaffected by haze Operations in Port Klang not delayed despite closure during haze, says official.