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Shipping News

Egypt to get US$30b in Gulf investment
A GROUP of UAE and Bahrain entities has set up a US$1 billion holding company to invest in infrastructure projects worth US$30 billion in Egypt.
Aker Yards' core profits jump 59%
NORWEGIAN shipbuilder Aker Yards ASA reported a bigger-than-expected 59 per cent jump in core profits yesterday and said it expected activity to stay high, but its shares fell as margins disappointed the market.
Hapag-Lloyd, Evergreen to raise rate to ship lumber from US
HAPAG-Lloyd AG, Evergreen Marine Corp and nine other shipping lines plan to increase the rate for moving lumber, wood pulp and other forest products to Asia from the United States to recoup part of higher costs.
Torm's profit falls 6% to US$80.8m in Q2
Not shipshape

Strait Talk

Bunker prices to feature at Sibcon
THE major corporate shipowners have been announcing their interim results over the past couple of weeks.

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Shipping News

Egypt to get US$30b in Gulf investment
A GROUP of UAE and Bahrain entities has set up a US$1 billion holding company to invest in infrastructure projects worth US$30 billion in Egypt.
Aker Yards' core profits jump 59%
NORWEGIAN shipbuilder Aker Yards ASA reported a bigger-than-expected 59 per cent jump in core profits yesterday and said it expected activity to stay high, but its shares fell as margins disappointed the market.
Hapag-Lloyd, Evergreen to raise rate to ship lumber from US
HAPAG-Lloyd AG, Evergreen Marine Corp and nine other shipping lines plan to increase the rate for moving lumber, wood pulp and other forest products to Asia from the United States to recoup part of higher costs.
Torm's profit falls 6% to US$80.8m in Q2
Not shipshape

Strait Talk

Bunker prices to feature at Sibcon
THE major corporate shipowners have been announcing their interim results over the past couple of weeks.

	web site

Shanghai Port sets global port expansion plan in motion Chiwan July throughput rises 41pc WTSA to raise US-Asia forest product freight rates in October Portland intermodal project derailed NYK chairman is awarded highest civilian honour from Italy BAX Global takes 7th place in poll of top 100 3PLs Cathay Pacific bolsters US freighter service Hactl appointed cargo handler for Air Niugini Qantas CEO, CFO to stay on

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Two L&T-made 505-t reactors deftly loaded on to Chipolbrok vessel Lloyd's drops war-risk rating for Malacca Strait Cyprus positions itself as gateway to EU markets Exports to Lebanon take a beating Cuminseed exports set to grow Ficci suggests use of smart cards at Benapole, Petrapole LCS KoPT launches GIS to track its vast real estate CONCOR's 1st integrated freight terminal at Nasik to be operational by December Airfreight service from Shanghai to Mumbai, Chennai on cards 4 pc addl Customs duty waived on slew of Nepal products Infrastructure growth needs Rs 331 bn investments in 11th Plan period-CII E-enabled services, IEC hold key to hassle-free ex-im trade, emphasises Zonal JDGFT Heartening rise in commercial credit States told to play pivotal role in ensuring PPP project success BoA clears 45 SEZ project proposals Land hurdle freezes SEZ clearances in state ...enter MNCs Circular on implementation of rules German firms eye SEZ for non-conventional energy UBI-Fieo meet in Nov. may augment credit for E. region exporters Interactive session on India-China Partnership tomorrow New CBDT members

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AUGUST 9, 2006
Malacca Strait war risk status lifted Golden Ocean raises US$20.8m in share sale, sells Jinhui stake OSG Q2 profit falls Dutch flag "easier" Good Q2 for Aker

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AUGUST 9, 2006
Navy contract for Todd Pacific New ocean marine insurance line

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DP World wins London Gateway boost DUBAI port operator DP World has been given 10 weeks to submit final plans for the London Gateway container port development. Fire crews struggle to control reefership blaze at Lloyd Werft FIRE fighters were still struggling to bring the fire on the reefership Cala Palma under control last night at Lloyd Werft shipyard in Bremerhaven. Piracy fall marred by kidnap US NAVAL monitors have reported that pirate activity off Somalia has dropped significantly, just days after Lloyd's recognised a decreased threat in the Strait of Malacca. India bids for Nigerian oil refinery India's continuing efforts to secure energy supplies have taken a significant step forward with state refiner Indian Oil Corp preparing a $2bn investment in a bid to set up a 6m tonnes per annum refinery in Nigeria's Edo state. Basque $50m Prestige claim fails A US district court judge has ruled against Basque communities seeking to recover $50m from classification society ABS for environmental damage following the sinking of the tanker Prestige.

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AUGUST 9, 2006
Caymans to build cruise pier GRAND Cayman will finally construct a dedicated cruise pier after years of resistance, according to Cayman Islands tourism minister Charles Clifford Market reacts to Prudhoe Bay IN an apparent reaction to BP's temporary shutdown of its Prudhoe Bay oil production, the tanker market has seen an unusually large number of vessels fixed to the US NorthLink struggles to cope JUST one month into its new northern isles contract from the Scottish Executive and NorthLink Ferries is struggling to cope with passenger numbers US outlines BP Alaska fallout Mississippi River reopened Migrant Watch: US/Caribbean Bullish Torm raises year forecast Quintana, Eagle Bulk boost earnings Aker Yards posts strong 2Q figures APM wins Adsteam takeover approval Lloyd Werft blaze still raging Refineries seek Prudhoe alternatives Shell under pressure on Sakhalin-2

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AUGUST 9, 2006
London backs plan for 3.5M-TEU hub The British government reaffirms its support for a major container port to be built on the Thames by Dubai's DP World. Intermodal Q2 volume tops 2005 peak season FedEx, pilots face crucial talks Seaspan orders four ships Salvors begin to pump out Cougar Ace Coast Guard opens W. Va. documentation center New Baltimore port pact pairs Pasha, Porsche Prince joins KCS EGL revenue falls Aker Q2 sales rise Mumbai lets dry bulk bids

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AUGUST 9, 2006
UK still 'minded to approve' London Gateway, but not satisfied yet P&O Ports/DP World's wait for a London Gateway decision was extended a little longer by today's update from the UK government, which said port-capacity was needed, but so were road-infrastructure guarantees. Mexico maps out new port Mexico's Secretary of Communications and Transport has published the co-ordinates of a proposed US$6bn port development in Baja California, paving the way for a concession later this year. Big remains more beautiful, in charterers' eyes Deeper Adelaide open for business COSCO Pacific confirms Fujian investment Container volume between China and Japan surges Federal Reserve concedes US economic slowing, with rate-hold

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AUGUST 9, 2006
US law v Spanish law ABS has scored two points in fighting Prestige oil spill claims -- including a ruling that pits US against Spanish 'national interests'. Bullish on Genco and bulk Good rates now plus demand outstripping supply equal firm future bulk markets, says Lazard as it revives shipping research. US cruise op abandons Great American River Journeys goes nowhere after 2006 cruise season cancelled. Odfjell caught again Already-blacklisted Norwegian owner has another chemical tanker detained in US as Bow Cheetah is held in New York. John F keeps the faith Hemen buys into Golden Ocean as drybulk spinoff issues equity, sells Jinhui stock to pay for Clipper deal. Four kidnapped off Nigeria Two Norwegians and two Ukrainians snatched from Trico Supply AHTS off Africa's west coast. French yards float Aker's boat Acquisition of two Alstom yards in June helps Aker Yards to near 30% increased second-quarter net profit. Ulstein back in black Norwegian shipyard group turns around 2004 loss to record an $11m gain last year. More firsts for Seaspan Order for four 5,100-teu newbuildings creates new relationships with MOL and Hyundai Heavy. Naikai Zosen sees red again Japanese shipbuilder returns to quarterly loss but expects things to pick up later in the year. Torm raises the bar Full-year pre-tax profit forecast swells by $40m at Danish tanker and bulker owner on the back of firm product tanker rates.

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AUGUST 9, 2006
Congress ends CBP ad valorem tax on U.S.-flag ship repairs overseas WTSA lines raise rates on forest products ANL expands east/west presence TORM's first half profit down 14% Seaspan orders four 5,100-TEU ships from HHI to charter to MOL NYK automates labeling of burlap bags Cathay Pacific's first half profits flat Prince joins KCS to develop U.S. Southeast/Mexico West Coast route IANA: Intermodal lifts in second quarter top 2005 peak season U.S. beef re-enters Japan market USDA's Farrish to lead new ethanol producer ABP takeover gets go-ahead NRF and Global Insight: Expect record TEU volumes at U.S. ports COSCO Ports jumps into joint venture in Quanzhou Antwerp Port Authority names Asia-Pacific representatives

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AUGUST 9, 2006
Norwegians kidnapped from vessel off Nigeria Two Norwegians ' the captain and the chief engineer ' and two Ukrainians were kidnapped from the Trico Supply vessel, Norwegian flagged ... Swedish employees on board Danish ferries risk a tax liability Swedish employees on board Danish ferries under Danskt internationellt skibsregister (DIS) flag risk a tax liability. This affects HH-ferries ...

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AUGUST 9, 2006
Prosecution not ruled out for Vancouver spill Cleanup almost completed but owner will continue paying costs. Biofriendly plans new additive test Company responding to Texas sales ban as marine programme moving ahead. PDVSA adds extra staff to home bunker team DOE: US crude and gasoline stocks shrink US stocks of gasoline have fallen to below the average level for this time of year. Baltic expansion for Transbunker Fast-growing supplier physical in Klaipeda after acquisition. Temporary closure of oil and bunkering terminal Malaysian terminal suspending all ship service requests during essential maintenance work. Lebanese oil spill Mediterranean's worst ever Size of spill comparable with infamous shipping disasters, threatens shores of several countries. Ventspils terminal stake attracts several bidders Poland's PKN Orlen named among potential bidders for Latvian government's share. ARA market firming further Hong Kong braces for bunker delivery suspension Tropical storm Bopha approaches the port, bunker deliveries may be affected over the next two days. Malacca Strait declassified from war-risk listing Shipping companies can expect to pay lower insurance rates when transiting the strait.