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Shipping News

LPG tanker earnings hit six-month low
FREIGHT rates for the biggest ships carrying liquefied petroleum gas slumped a second week as a rising number of vessels competed for cargo, cutting shipowners' earnings to a six-month low, a shipbroker said.
52 lines get Busan perks for more transshipment
AP Moller-Maersk, Hanjin Shipping Co and 50 other shipping lines will receive 45 per cent more in incentives from South Korea's Busan port because they moved more cargo for transshipment last year.
Six Viet sailors return 8 months after ship seizure
SIX of 12 Vietnamese crew who were detained along with their cargo ship in Tanzania more than eight months ago, have returned home, the vessel's owner Sea Saigon Shipping Company said yesterday.
Hyundai Heavy orders up 14%

Admiralty Casebook

Singapore's logical stand on bill of lading vindicated
TWO weeks ago, this column reported the House of Lords decision in The Rafaela case, in which five law lords unanimously ruled that a straight bill of lading is as much a document of title as a 'to order' bill.

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Shipping News

LPG tanker earnings hit six-month low
FREIGHT rates for the biggest ships carrying liquefied petroleum gas slumped a second week as a rising number of vessels competed for cargo, cutting shipowners' earnings to a six-month low, a shipbroker said.
52 lines get Busan perks for more transshipment
AP Moller-Maersk, Hanjin Shipping Co and 50 other shipping lines will receive 45 per cent more in incentives from South Korea's Busan port because they moved more cargo for transshipment last year.
Six Viet sailors return 8 months after ship seizure
SIX of 12 Vietnamese crew who were detained along with their cargo ship in Tanzania more than eight months ago, have returned home, the vessel's owner Sea Saigon Shipping Company said yesterday.
Hyundai Heavy orders up 14%

Admiralty Casebook

Singapore's logical stand on bill of lading vindicated
TWO weeks ago, this column reported the House of Lords decision in The Rafaela case, in which five law lords unanimously ruled that a straight bill of lading is as much a document of title as a 'to order' bill.

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Tianjin Port to build 10 more box terminals Finnish port strike unlikely Heilongjiang-Russia highway to be built Port of Tacoma director appointed to COAC DHL launches new Shanghai-US, Beijing-HK services Continental Airlines reports Q1 loss Qantas to add Brisbane-Los Angeles flight

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APRIL 21, 2005
Royal Caribbean: Bunker costs make forecasting difficult While announcing first quarter profits, Royal Caribbean has said that bunkers are the most important factor affecting net cruise costs and make forecasting very difficult. West-East fuel oil arbitrage shows signs of opening VLCC booking reported from northwest Europe to Asia as fuel oil arbitrage shows the first signs of opening for weeks. Switzerland: Former bunker purchaser joins Addax ARA market quiet but firm at midday US Coastguard reiterates stance on single-hull phase-out The US Coastguard Marine Safety Office has reiterated that the Oil Pollution Act of 1990 (OPA 90) remains the enforceable US governing standard for phase-out requirements applicable to single-hull tank vessels operating in US waters. Halifax barge rates to rise, refinery down Singapore: Fuel oil stocks fall, middle distillates rise More bidders for South Korea's Inchon refinery A South Korean court has called for more bidders for Inchon Oil Refinery in addition to Citigroup's sole bid for the company. Titan in agreement to buy VLCC Titan has signed a memorandum of agreement to purchase an addition VLCC, boosting its fleet capacity to more than three million deadweight tonnes. Singapore market not threatened by Dubai's move Dubai's move to set up an exchange that will offer futures trading in marine oil at the port of Fujairah is not seen as a threat to Singapore's number one position in the bunker market. Cargo demand prompts price spike in Houston Demand from fuel oil traders for HSFO product for VLCC exportation redirecting supplies typically earmarked for the bunker arena.

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APRIL 21, 2005
IACC: 14th annual conference in Houston Blue Vector and Intelleflex release new RFID System Pakistan Railways to be restructured Kuehne + Nagel lights the way ERS to launch Rotterdam-Duisburg-Istanbul container shuttle Aeroflot boosts Moscow to Frankfurt frequencies Norasia launches Middle East service ICTSI appoints project head for China

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APRIL 21, 2005
OMI tops Q1 record Vessel sales boost Teekay's Q1 results New bulker rules draft available EC okays Italian subsidies

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APRIL 21, 2005
Manitowoc gets cement barge order Teekay nets $279 million in first quarter OMI reports record profits Pentagon soft pedals on DD(X) rebid Indonesian union battles "high risk seafarer" designation

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APRIL 21, 2005
Greenbrier announces orders for 1,300 new railcars, two barges Washington State Ferries set to institute peak season charge Portland Women's Shipping Club looking for industry's top boss Port of Portland wins award for Vanport Wetlands project West Coast port congestion one topic of Marad meeting

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Euronav enjoys record first quarter EXPANSION-minded tanker specialist Euronav chalked up a record result in the first quarter of this year. The company, which was spun-off by CMB less than six months ago, achieved net income of $81m, or $1.92 per share. Korean yards call owners' bluff and stick to price hikes SOUTH Korean shipyards, armed with full order books for the next three years, have resolved to increase their newbuilding prices in a sellers' market. Fredriksen looks to build up medium-size boxship fleet NORWEGIAN tanker tycoon John Fredriksen is on the hunt for more containerships after obtaining first-rate terms for his first fixture in this sector a few days ago. Maersk Sealand leads elite few with revamped container line model MAERSK Sealand is at the forefront of an elite group of ocean carriers that are transforming themselves from price takers to price leaders, writes Janet Porter. Fresh look for Lloyd's List Email Bulletin TODAY marks the launch of the new and improved Lloyd's List Daily Email Bulletin, timed for delivery as the newspaper rolls off the presses.

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APRIL 21, 2005
NCL's Dawn in TV allegation CIVIL lawsuits are expected to be filed against Norwegian Cruise Line (NCL) after the New York Post revealed yesterday that the Norwegian Dawn was scheduled for an early return on 17 April for an appearance on the TV show 'The Apprentice' Indonesia to designate hubs INDONESIA will designate priority ports under its new "hub-and spoke" policy as part of measures to implement the cabotage policy announced last month Busan dangles transhipment carrot BUSAN Port Authority will pay out a record W12.2Bn ($12.1M) to shipping companies this year by way of transhipment volume incentives HPH invests in new joint-venture HONG Kong's Hutchison Port Holdings has tied up with US based Savi Technology to float a joint-venture specialising in cargo tracking through Radio Frequency Identification Kerala applies for Sri Lanka link KERALA Shipping and Inland Navigation has asked Director General of Shipping for permission to run a passenger service between India and Sri Lanka Stena profits from Irish investment STENA Line's strength on the Irish Sea drove profits sharply higher in 2004 despite increasing compettion on the North Sea Cruise fuel woes continue for RCCL Port delays hit barge operators Canadian capacity crunch looming Guayaquil calm after Gutierrez goes SCI seeks damages from CMA CGM Four missing in Med Le Havre link profitable: CGT Paralysed SNCM in state of chaos OMI first quarter profits up 34% Teekay: upgrades ships, buys shares

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APRIL 21, 2005
Customs offers 'no-inspect ' clearance In Miami, U.S. Customs' Bonner (left) unveils inspection-free clearance for containers in validated secure supply chain. UPS net up 16% in first quarter Boxship orders still climbing Union Pacific net lower Montreal terminal plans investment Hub Group doubles profit N.C. ports ask added funding P&O Ports taps N. Amer. execs Intermodal brighter for FEC Greenbrier gets railcar, ship orders Record quarter for USA Truck

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APRIL 21, 2005
Canadian shippers propose rate increases as solution to Atlantic capacity crunch Shippers in the North Atlantic trades face 'a potential capacity crunch of serious proportions' following reductions in capacity to Montreal and Halifax, warned the Canadian International Freight Forwarders Association (CIFFA). CMA CGM Seine under threat of arrest for skipping Nhava Sheva The High Court of Colombo, Sri Lanka, has issued a summons and warrant for the arrest of the CMA CGM Seine, following a complaint by Shipping Corporation of India (SCI). BNSF says its expanding 'ahead of the growth curve' Berlin names projects for Germany's 'extra' €2bn infrastructure budget China's mid-west volumes set to take-off say consultants Privateers back Aus inland rail study Vos builds chemical distribution centre at Duisburg's Wan Hai and Sinotrans launch joint N China/Taiwan service Busan transhipment incentives rise nearly 50% Intermodal fuels big Q1 profit for Canadian National Railway Boxes drive Wellington results MOL Logistics move into Guangzhou P&O Ports North America promotes VPs Ups and downs for Inchon and Masan

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APRIL 21, 2005
Euronav sees best 1Q Belgian owner says strong market in late-2004 carried over into strong fixtures this year. Teekay takes down debt Debt-equity ratio now lower than before Tapias acquisition one year ago. Vroon adds three Dutch owner's bulker order at Dayang complemented by buying of chartered-in reefer. OMI gets $30,000+ with HMM Bugbee ridicules notion Stamford owner is 'calling top of market' with 7-year charters. Bunker blow for RCCL Fuel price rise of 30% set to add $50m to cruise line costs. SSY debuts in Beijing Big broking name plants another foot in the Chinese market. NCL facing 'Dawn' action Cruise line braced for compensation claims after admitting ship had TV appearance booked. Shreyas shreds previous profit Indian feedership owner's increased volumes add nearly 400% to bottom line in year to end March. Fire warning over PVC Continued use of hazardous polyvinyl chloride in shipbuilding attacked at green ship conference. A tale of two markets Leif Hoegh contrasts busy car carriers with idle LNG vessels. EC okays Italian aid scheme Road hauliers will receive millions of euros to send goods by sea. Aker gets ferry option Deal for $210m newbuilding for Tallink could boost Finnish yard work until 2007. Sea Invest targets tankers Owner of Belgian bulker operation Kleimar buys into France's Fouquet Sacop. All hail Hazira Shell finally gets its first LNG cargo into India's first merchant terminal. Kazakhs plan Vyborg raid Russian yard becomes takeover target after building Kazakhstan's national fleet of tankers. PacBasin expands in Tokyo Handysize owner adds three to Japanese operation in bid to increase cargo and newbuild activity. A drawn out and bloody affair Howe Robinson warns 2005's container rate increases may be followed by severe and prolonged downturn. Court clears path for Latvian Riga owner's boardroom battle could be over after it is allowed to register new directors. TOP and Glencore snuggle up Oil trader has just tied up eleven of US tanker operator's fleet on new or extended charters. Prisco picks Hyundai again Russian tanker owner adds to orderbook in Korea with two more aframaxes. HMM takes third suezmax South Korean owner's expanding tanker operation now includes a suezmax from TOP Tankers. Color Line sells Skagen Norwegian ferry line offloads 1975-built veteran to Egyptian owner.

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APRIL 21, 2005
Maersk Sealand moves ship capacity from Los Angeles to PNW ports OOCL boosts 1st quarter rates, revenues Italy gets approval for $314-million shortsea subsidies Montreal box traffic, rates go up Fuel costs prolong losses at American Airlines Continental's net loss deepens to $184 million America West, US Airways explore possible merger Appeals court delays hazmat rail ban in Washington, D.C. CN's first quarter net income up 42% Hub Group net profits soar 97% CSX train flips its load FMC reviews 6 intermediaries' applications, revokes 8 licenses SEKO names van der Putten to head new office in Amsterdam Loy lands job with Cohen Group Bill dedicates funding stream for port security grants Capacity limits hold back growth at the port of Antwerp Bangor gets port director

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APRIL 21, 2005
Tallink and Aker in option agreement on new ferry In connection with the keel-laying of the latest newbuilding for Tallink at Aker Finnyards in Raumo, the companies agreed ... Tankers forced away from Norwegan coast This week the Greenpeace vessel "Esperanza" persuaded two product tankers at least 50 nautical miles of the Norwegian coast near ... SEK 100 million from Swedish Shipowners to maritime research and education Chalmers University of Technology in G'teborg has launched a new institution, Chalmers Lighthouse, for maritime education and research. Chalmers Lindholmen ...