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Dubai Ports World on course with global expansion plans
WHILE still busy integrating its recently acquired P&O terminal network, Dubai Ports World remains on its steady course of global expansion with a US$200 million investment to more than double its Dominican Republic container port and has held discussions with Greek officials on possible acquisitions there.
Tsakos Energy H1 profit surges to US$156m
TSAKOS Energy Navigation reports net revenue less voyage expenses of US$155.88 million in the six months to June, up from US$120.52 million in the same period last year.
Clean oil tanker rates up after BP shutdown
RATES for oil tankers carrying clean fuel from Asia to the United States rose yesterday and may climb 15 per cent soon on expectations that BP's closure of its Prudhoe Bay oilfield in Alaska, the biggest in the US, will boost fuel prices there, shipbrokers said.
Navigation system for Mekong formed

Port Shots

Port Shots
SHANGHAI International Port is likely to buy a minority stake in a container terminal in Zeebrugge, Belgium, company officials said yesterday.

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Shipping News

Dubai Ports World on course with global expansion plans
WHILE still busy integrating its recently acquired P&O terminal network, Dubai Ports World remains on its steady course of global expansion with a US$200 million investment to more than double its Dominican Republic container port and has held discussions with Greek officials on possible acquisitions there.
Tsakos Energy H1 profit surges to US$156m
TSAKOS Energy Navigation reports net revenue less voyage expenses of US$155.88 million in the six months to June, up from US$120.52 million in the same period last year.
Clean oil tanker rates up after BP shutdown
RATES for oil tankers carrying clean fuel from Asia to the United States rose yesterday and may climb 15 per cent soon on expectations that BP's closure of its Prudhoe Bay oilfield in Alaska, the biggest in the US, will boost fuel prices there, shipbrokers said.
Navigation system for Mekong formed

Port Shots

Port Shots
SHANGHAI International Port is likely to buy a minority stake in a container terminal in Zeebrugge, Belgium, company officials said yesterday.

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OOIL sees net profit fall 9.19pc in H1 UPS opens 2 retail centres in Shanghai Chongqing merges river ports E R Schiffahrt puts newbuild into service KMTC celebrates 10 years in Malaysia Jiangsu to invest US$1.25b on upgrading waterways Korean Air starts converting aircraft into freighters Great Wall to launch cargo flights to India Continental places new order for 12 Boeing 737-900ER aircraft

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Aeromar Logistics awarded coveted ISO 9001:2000 certification Clarion Shipping Services spells out expansion plans GE Shipping sinks demerger plan Lyman Container Line expands operations Grand Alliance & TNWA announce joint Asia-US East Coast service Italia Marittima set to upgrade Med-US East Coast service, providing direct calls in Turkey HK terminal operators to impose port security charge APM ties up with Saigon Port Co to build new Viet terminal DP world to expand Caribbean port NATO Shipping Center established in UK Shippers may have to pay fee to use Malacca Strait CMA CGM's CIMEX service calls at FICT WTSA to raise US-Asia waste paper rates from Sept. SK Shipping orders 2 VLCCs Massive container port to be built off W. Australia KoPT holding talks with Cardinal Logistics to install 3rd mobile harbour crane New Mangalore Port resumes handling of iron ore shipments S. R. Kulkarni elected to world body Fiscal deficit up by 42 per cent this year in Q1 NSIC to help ECGC market its products Commerce Ministry refunds part of Chennai, Kochi SEZ units' CST Sugar mills allowed to fulfil export obligation

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AUGUST 7, 2006
TEN's strong first half ICTSI's revenues up Canada beefs up anti-spill flights Buoyant July for Imarex

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AUGUST 7, 2006
NASSCO and USS finalize $1 billion deal OSG in CNG ship venture Keppel FELS to build semi for Brazil

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AUGUST 7, 2006
Woodstone begins expansion at Bellingham industrial park Port of Seattle closing ramp to Airport Expressway IMO offices on the move to make way for upgrades Port of Tacoma issues bonds for Kaiser Aluminum project MarAd announces contract to repair historic vessel SAVANNAH

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Oil price and tanker rates soar after BP shutdown CLOSURE of BP's Alaskan Prudhoe Bay oil field has sent oil prices soaring back to record levels and product tanker rates climbing. Iran heavy crude excess sold to domestic market and Asia IRAN has shifted its stored heavy crude from two Middle East Gulf fields by supplying its own refineries and selling it into Asian markets, writes Martin Wingrove. Safmarine Agulhas breaks up in heavy swells A "BIG bang" marked the last moments of the Safmarine Agulhas containership which finally split in two off the Port of East London at the weekend, writes Helen Hill in Amsterdam. Fuel spill threatens Canadian wildlife Clean-up crews are striving to mop up 50 tonnes of bunker fuel spilled by a bulk carrier off Canada's west coast Friday, that is threatening a nearby wildlife reserve . US shippers say no to ELAA proposals for data pool KEY elements of a plan drawn up by container lines for a new regulatory regime in Europe to replace the conference system have run into opposition in the US.

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AUGUST 7, 2006
US reserves may fill Alaskan shortfall ANCHORAGE 07 August ' US Strategic Petroleum Reserves may well be tapped this week to make up for the 400,000bpd shortfall caused by the shut-down of a major Alaskan oil field Sunken tug closes lower Mississippi THE LOWER Mississippi River is closed to vessels over 4.6m draught today after a towboat sank yesterday morning near Bayou Goula, Louisiana Gazprom, Sonatrach end MoU delay RUSSIAN natural gas exporter Gazprom and Algeria's Sonatrach have ended an awkward delay by signing a memorandum of understanding in Moscow Tanker rates buoyed DOUBLE Hull Tankers, the Overseas Shipholding Group spin-off, is reporting unexpectedly strong, counter-seasonal rates for 2Q and 3Q06 East Asia braces for storms FORECASTERS predict that the season's next typhoon, Saomai, will cross Japan's southern island territories before making landfall in China later this week Tanker mergers ahead, says Arntzen CONSOLIDATION in tanker shipping has moved slowly ahead in recent times, but this is likely to change, a senior industry executive says KG financing holding steady Putin urges Russian yard revival Squamish spill raises concerns Conflicting views of Israel risk Seafarers safe after collision India keeps Chinese from its ports Cougar Ace moved to calmer waters

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AUGUST 7, 2006
Maersk to launch record box ship The 13,000-TEU vessel is scheduled for delivery on Saturday. APL ship suffers rudder damage in NY-NJ OCEMA unit starts Memphis chassis pool DP World to invest $100 million in Argentina VPA's Bray to retire next year Cosco in talks to take over Greek port operations Ford sues Customs over compliance records Vancouver hub for sale, owner confirms Mexican, Canadian FAST drivers qualify for hazmat shipments Loss widens at Northwest Airlines Japan resumes beef imports from US Report finds TWIC system vulnerable Indian port plan suffers setback

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AUGUST 7, 2006
South Africa bunker shortage sees ships turned away Marine fuel shortages at ports in South Africa - the southern African coast's main bunker fuel hub - have resulted in passing ships needing fuel being turned away. Switches thrown on Portland rail yard, as area changed to industrial use Safmarine Agulhas wreck splits, after tender for its breakup floated Challenger renews bid for Australian terminal space SIPG: 80% probability of buying into APMT Zeebrugge 'EU-25' beats eurozone for retail growth, but stats playing demographic tricks Australian shippers back Part X retention Indonesia's Pelindo II increases throughput 1.52% in H1 COSCO denies recent reports on Greek port investment details ICTSI net income up 16%, with international business brisker Vladivostok Container Terminal ups throughput

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AUGUST 7, 2006
Something old, something new... Or why "retrofit" is not a dirty word at the offices of US Shipping. Eagle lands on the money Nasdaq-listed Eagle Bulk Shipping has turned in solid results after an eventful second quarter. Billion-dollar closing US Shipping Partners has succeeded in satisfying the conditions for its ambitious nine-plus-five tanker order at San Diego's Nassco. OSG sells DHT Morten Arntzen-led Overseas Shipholding Group has registered to sell down its holding in Double Hull Tankers. US Shipping drops a buck US Shipping Partners' share fell by a dollar this afternoon after weak quarterlies on the way to a billion-dollar tanker order. OSG to haul gas TransCanada and Overseas Shipholding Group are teaming up for a worldwide compressed natural gas (CNG) project. Double Hull profit holed Second-quarter income slashed 43% at US-listed Double Hull Tankers Inc as freight rates droop. Glencore takes back Citius But another pruned dividend for Aries Maritime investors after product tanker's expensive repair. Costs cripple STX Pan Ocean Korean bulker player sees net profit slashed by 96% on rising fuel costs and falling freight rates. DryShips pays $111m But shares slip after US-listed owner confirms P&A bulker buys. Pleas for abandoned seafarer Concern grows for life of Burmese officer previously presumed dead and now left stranded on uninhabited Yemeni Island. Russian groups co-operate Shipowner Sovcomflot and MNP shipbuilding group to work together on tanker and gas carrier projects. Agulhas snaps in two Safmarine-chartered containership breaks up off coast of South Africa as wreck removal contract up for grabs. Handy sized merger Shipbroker Howe Robinson is combining with Angus Graham to become a big force at the smaller end of the dry cargo market. Single-hulls get the boot Tsakos Energy in talks to offload three tankers, as analyst hikes company's price target by 15% on better rate outlook. Superfast sale for $144m Attica Group inks surprise deal to sell Rosyth-Zeebrugge ferry to SNCM buyers Veolia. SA bulker limps to port Water pumped from listing vessel which reaches refuge of Durban port undamaged. Out with the old Brostrom sells last remaining single-hull as joint-owned Treguier goes out the door. Keppel in Brazil rig order Petrobras to charter semi-submersible rig to be built at Singapore's Keppel Corp for $270m. Gearbulk ship in BC spill Open hatch bulker spills bunker fuel after puncturing fuel tank in Canadian west coast port. Cougar Ace heads north Listing car carrier towed into the Bering Sea in search of calmer waters for operation to right ship. Gulf Nav oversubscribed Investors in Dubai tanker owner offer to buy 30 times the shares available. IHI cuts losses Revenues up but still a quarterly loss for Japanese engineering group Ishikawajima-Harima Heavy Industries. Hong Kong holds trio Authorities detain three containerships last month for failing port state control inspections.

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AUGUST 7, 2006
Trade resumption contingency plans could include rollback of regs Bulk carrier officers charged with pollution violations E.R. Schiffahrt to charter 8,204-TEU ship to CMA CGM Björk Eklund Group joins INTTRA NYK renames Macau agent Germanischer Lloyd moves to larger office in Wuhan, China British Airways World Cargo's 1st quarter revenues up 11.6% ANA Group's 1st quarter profit rises 256% Etihad joins Asia-Pacific air freight portal Cathay Pacific resumes Hong Kong operations United's July cargo volumes flat CBP expands FAST locations Senate approves Connaughton, Nottingham, Hill to transport posts Bush nominates Veroneau for USTR deputy post Nike knockoffs seized in Norfolk Tacoma issues $100 million bond for development over next year Bahamas joins CSI VPA seeks new executive director as Bray nears retirement ICTSI's 2nd quarter net income up 16% Long Beach director tabs Coast Guard veteran for new deputy role Bennett to head North Carolina port planning team

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AUGUST 7, 2006
Port receives top environmental award Long Beach receiving AAPA award next month, saying it's a 'tremendous honour'. Pipeline shutdown sends US oil sky high Price up over $2 per barrel as Alaska production may be affected for months. Vancouver: Bunker spill Cleanup underway after ship hits pier over the weekend. OceanConnect sets record straight CEO speaking to Bunkerworld, says market speculation is 'much ado about nothing'. FAL Energy delivers top polo day Only the match score clouded the day when FAL Energy hosted event in beautiful settings at London's only remaining polo club. Changes afoot at OceanConnect Statement expected soon to clarify shareholder changes. Stranded Safmarine vessel snaps in two 'Almighty bang' heard as doomed ship breaks up, thankfully after its bunkers had been removed. Quiet market in Rotterdam, prices stable Oil prices rise as Middle East violence continues Prices remain robustly above $70 per barrel on strong energy demand from US and China. Hong Kong: Quiet start to week as terminal congestion continues Congestion eases slightly over the weekend; another tropical storm brewing in the Pacific Ocean.