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Shipping News

BW re-enters product tanker market
ONE of the world's biggest tanker owners, the BW group, has announced new-building orders and the purchase of more tankers - estimated to be worth about US$700 million - while turning in better results at its gas transport division.
RCL posts record full-year profit of 4.8b baht
BUOYED by a robust intra-Asia container trade during 2005, Thai-listed Regional Container Lines posted record net profits - up 31 per cent compared to a year earlier.
Hanjin investing US$720m to build Philippine shipyard
SOUTH Korea's Hanjin Heavy Industries Co said on Monday that it would invest US$720 million constructing a shipyard in the Philippines as it looks to escape domestic constraints on capacity.
US assures region of help against pirates in Straits
ILO adopts new labour standard for world's seafarers
US Coast Guard raised concern on port deal: senator

Strait Talk

Living the dream
PERHAPS not everybody who goes to sea on merchant ships dreams of one day owning his or her own ship, or even shipping company, but I bet most do.

Port Shots

Port Shots
SHANGHAI Zhenhua Port Machinery Co, the world's biggest maker of container cranes, said profit surged 163 per cent last year after sales increased.

web site

Shipping News

BW re-enters product tanker market
ONE of the world's biggest tanker owners, the BW group, has announced new-building orders and the purchase of more tankers - estimated to be worth about US$700 million - while turning in better results at its gas transport division.
RCL posts record full-year profit of 4.8b baht
BUOYED by a robust intra-Asia container trade during 2005, Thai-listed Regional Container Lines posted record net profits - up 31 per cent compared to a year earlier.
Hanjin investing US$720m to build Philippine shipyard
SOUTH Korea's Hanjin Heavy Industries Co said on Monday that it would invest US$720 million constructing a shipyard in the Philippines as it looks to escape domestic constraints on capacity.
US assures region of help against pirates in Straits
ILO adopts new labour standard for world's seafarers
US Coast Guard raised concern on port deal: senator

Strait Talk

Living the dream
PERHAPS not everybody who goes to sea on merchant ships dreams of one day owning his or her own ship, or even shipping company, but I bet most do.

Port Shots

Port Shots
SHANGHAI Zhenhua Port Machinery Co, the world's biggest maker of container cranes, said profit surged 163 per cent last year after sales increased.

web site

Shipping News

BW re-enters product tanker market
ONE of the world's biggest tanker owners, the BW group, has announced new-building orders and the purchase of more tankers - estimated to be worth about US$700 million - while turning in better results at its gas transport division.
RCL posts record full-year profit of 4.8b baht
BUOYED by a robust intra-Asia container trade during 2005, Thai-listed Regional Container Lines posted record net profits - up 31 per cent compared to a year earlier.
Hanjin investing US$720m to build Philippine shipyard
SOUTH Korea's Hanjin Heavy Industries Co said on Monday that it would invest US$720 million constructing a shipyard in the Philippines as it looks to escape domestic constraints on capacity.
US assures region of help against pirates in Straits
ILO adopts new labour standard for world's seafarers
US Coast Guard raised concern on port deal: senator

Strait Talk

Living the dream
PERHAPS not everybody who goes to sea on merchant ships dreams of one day owning his or her own ship, or even shipping company, but I bet most do.

Port Shots

Port Shots
SHANGHAI Zhenhua Port Machinery Co, the world's biggest maker of container cranes, said profit surged 163 per cent last year after sales increased.

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Paper sea cargo manifest submissions in HK to become a thing of the past Miami port job losses will occur if DP World takes over P&O Ports, British court told Dongnama Shipping appoints new HK, S China agent Hamburg Sud takes over Ybarra Sud Asian goods boost Canadian rail transport to record levels in 2005 Supply chain conference to be held in Shanghai NYK collects donations to help victims of Philippine landslide MAS announces turnaround plan after Q3 losses Singapore terminal outfit to provide management nous for QAS World Air Holdings' Q3 net income drops 22.5pc

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Ship management services in tax net CoPT slashes handling charges on ex-im container cargo Baalu assures highway link to proposed ICTT at Vallarpadam Rural-centric Budget leaves industry thankful for small mercies Budget has belied hopes of SSI sector, says AIAI chief Union Budget 2006-07

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Benedikt Weibel to step down at end of year Grimaldi and Aponte to partner ferry service More Balkans links at Bergamo TFG enhances service in eastern Germany Germany: coastal canal open to traffic TNT reports growth in turnover and ebit

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FEBRUARY 28, 2006
Nordic American buys suezmax LPG market boosts BW Gas V.Ships and China Shipping Container Lines in JV MOL starts new Vietnam-China service London Club warns on lone watchkeeping Barbados calls for greater co-ordination Farstad lands Australian contracts

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FEBRUARY 28, 2006
USCG says DP World quote taken out of context Bollinger gets repeat order from K-Sea

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DP World expects P&O deal approval DUBAI-headquartered port operator DP World is confident that its $6.5bn purchase of the UK's P&O will be endorsed by March 2, despite being delayed by a petition against the deal by a Miami-based firm in the High Court in London. US Coast Guard rebuffs security concerns THE US Coast Guard has rejected a claim by politicians that it had raised "concerns" about DP World's potential support for terrorism, stating that the so-called revelations were 'taken out of context' and ignored the USCG conclusion that no such threat existed, writes Rajesh Joshi in New York . IMC Pan Asia plans LNG shipyard investment to meet Chinese demand IMC PAN Asia Alliance is in talks to invest in liquefied natural gas shipbuilding in China, to meet the demand for newbuildings from the country's planned LNG projects, writes Marcus Hand in Singapore. Bergesen Worldwide Gas taps into expanding new markets NORWAY'S Bergesen Worldwide Gas has lifted a $43m fourth quarter pre-tax profit and left behind a $59m loss booked a year earlier as global gas needs continue to fuel its rise in fortune. BW sets China VLCC order record THE Sohmen family's BW Group has taken this week's spending to almost $700m with an order for two VLCCs in China, writes Tony Gray .

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FEBRUARY 28, 2006
Aponte, Grimaldi in takeover rumour TWO Italian operators have forged an unprecedented alliance to avoid the consequences of overcapacity on the short-sea route between Civitavecchia and Palermo Transmanche rebuilds Dieppe link TRANSMANCHE Ferries took delivery of its first newbuilding yesterday for operation on the Dieppe-Newhaven route; the company is now in talks with Louis Dreyfus NOL ready to meet 2006 challenges SINGAPORE-listed Neptune Orient Lines reported strong financial results for 2005 despite net profit dipping by 15% to $804M Eller's DPW objections 'wafer thin' THE Miami joint venture partner of P&O has faced tough questioning at the UK High Court in its bid to stop DP World taking over P&O OSG profits slump in fourth quarter OVERSEAS Shipholding Group's profits dropped sharply during the fourth quarter, but full-year results were up on tax impacts and fleet growth USCG clarifies DPW revelation COAST Guard officials say a US senator got it all wrong in using a USCG report to imply security shortcomings with Dubai Ports World Budgetary benefits for Indian shipping HSH Nordbank surges ahead Icebreaker chartering to expand Express Samina officers jailed USCG concern over wind farm plans Crew questioned after island visit

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FEBRUARY 28, 2006
'No red flags' in DP World review National director of intelligence tells Senate hearing of low security threat from DP World's acquisition of P&O's U.S. port operations. Koch: Foreign-owned terminals meet security standards Coast Guard cleared Dubai ports deal BNSF CEO to keynote JoC Trans-Pacific Maritime Conference Virginia port TEUs up 11% Fuel costs hit NOL net MSC signs with Va. ports APL, MOL add Vietnam feeder CSXI cuts fuel surcharge

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FEBRUARY 28, 2006
NOL see 'more challenging' 2006, while RCL see 2005 spree end in constrained Q4 Depressed freight-rates have taken their toll on APL parent Neptune Orient Lines, with Q4 seemingly marking the end of the more effortless buoyancy of full-year 2005. Thursday ruling on P&O, as industry tries to understand politics' role in business The High Court has delayed a ruling on the case for DP World's takeover of P&O, adjourning the London-based hearing until Thursday, given the political objections surrounding the case. China COSCO Holdings: Supply-demand balance could come as early as 2007 China's first local port regulation starts in Shanghai Safmarine Pakistan boxes to be examined at Cochin, after unscheduled stop Dongnama and SYMS may launch joint intra-Asia services TSK Line to launch CNS service MOL confirm success in tender: UTOC to become subsidiary CSCL and V.Ships form ship-management JV for newbuilds

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FEBRUARY 28, 2006
UK court waits on DPW Judge delays ruling in Dubai port controversy, while in US Coast Guard says acquisition 'does not pose a significant threat." OSG shares dip, rebound Big New York owner's stock rallies back above $50 mark after Arntzen affirms company's approach in investor call. Camillo Eitzen improves Oslo-based owner looking up on profit and revenue in fourth quarter. Double Hull doubts Newly listed OSG spin-off warns of weaker prospects for tanker market. Volumes jump at Fesco Russian containership owner sees box numbers rise in 2005 as fleet gets busier. ILO minimum up $45 Recommended basic pay for AB seafarer to rise from $500 a month in three $15 annual stages. OSG 'disappointing' New York owner badly misses analyst estimates, with higher administrative expenses and lower TCE rates than expected. Samudera gains on better rates Profit up in 2005 for Singapore liner company as it prepares to add more ships in 2006. Bunker costs hit NOL Profitability of Singapore liner operator squeezed as fuel bills soar by $194m. OSG hikes dividend Shareholders to benefit from 'exceptional' financial performance achieved despite falling freight rates. Mixed fortunes for Jinhui Record year despite weaker fourth quarter dry cargo market. BW thinks big Bergesen Worldwide's tanker arm orders two VLCCs from Bohai in China. V.Ships to handle box giants Ship manager teams up with CSCL to operate four huge 9,600-teu containerships being built at Samsung. Rail cash still bolstering TMM Mexican tanker owner posts 2005 profit thanks to sale of rail unit. Heung-A earnings eroded Korean container line pushes up revenues in 2005, but sees profit slide away. Japan Club regains rating Standard & Poor's gives secure BBB status to Tokyo based protection and indemnity club after auditing spat is resolved. Regional Container Lines profits High bunker costs fail to dent profits at Thai intra-Asian operator as liftings hit record level. Huge turnaround for BW Gas Bergesen Worldwide's LPG and LNG ships produced much better result in 2005 as freight rates rose. PDZ's poor showing continues Malaysian intra-Asian operator looks to other markets after weak second quarter performance. STX Pan Ocean sizzles Bulkers lead the way as South Korean shipowner reports a 71% increase in full-year profits. Steady as she goes Consistent fourth quarter helps Malaysia's Global Carriers to 36% jump in full year-profits.

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FEBRUARY 28, 2006
NOL Group's profits down 15% in 2005 MISC 3rd-quarter profits down 17.3% OSG's 4th-quarter net income dips 46% MOL's tender offer for Utoc successful APL to start China/Vietnam link Asian airlines' freight up 6.4% in January United, TACA file codeshare agreement DHL Danzas Air & Ocean, FCS implement air manifest system for Canada ICAO reappoints Cherif Four groups join OOIDA's challenge of HOS rules UPS to rename Overnite U.S., Colombia conclude trade agreement NSAs slow on uptake, but expected to take off in 2007 Arpin announces promotion Coast Guard intelligence report raised concerns about DP World

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FEBRUARY 28, 2006
BW orders ULCCs in China Singapore-based BW Shipping Manager has ordered two 320,000 DWT tankers at China's Bohai Shipyard for delivery between 2009 and ... Seven convicted in "Express Samina" case Seven people has been convicted by a Greek court for their part in the "Express Samina" disaster in September 2000 ... DP awaits new investigation before take-over of American terminals DP World has offered to postpone its take-over of P&O terminals in USA for 45 days. In the ...

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FEBRUARY 27, 2006
Bunker trader moves on to new role Long-term trader on the move Sales Manager leaves Russian supplier after nearly a decade. Russian oil revenues and fuel oil prices rise A leap in Russian domestic wholesale prices for fuel oil has been accompanied by price consolidation in the St. Petersburg bunker market. Bunker prices blamed for NOL profit fall Shipowner seeing 15% profit decrease despite fuel hedging scheme. Environmental conferences for shipowners in Asia BP Marine hosting two events in March on low-sulphur fuel challenges and environmental legislation. Rotterdam sharply lower with crude BP Marine: Lube buyers will feel effects for months Jill Nguyen, Director BP Marine Lubricants, has warned that severely stretched base oil supply will be felt by the shipping industry for months to come. PTP singled out as a core development sector The areas around the Port of Tanjung Pelepas (PTP) have major developments in the pipeline for its maritime industries. Ten oil refineries needed in Arab countries Surging demand for refined products spells the need for more oil refineries, according to industry specialist. Viswa Lab seminar in Singapore focuses on bunker quality issues Dr. Vis urges shipowners to acquire quality bunkers, even at higher costs.