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Shipping News

Shipping Reits catching on: finance firm
SHIPPING investment trusts are going to become more commonplace as shipping companies increasingly move away from unproductive price-earnings and net asset valuations, according to the head of German-controlled finance company First Ship Lease Ltd.
Pacific veggie freight rates going up
CONTAINER shipping lines, including Neptune Orient Lines' APL, operating on the westbound transpacific trade route between Asia and North America have announced their intention to raise freight rates for chilled vegetables.
China Cosco rides on trade boom, beats forecast
CHINA Cosco Holdings Co Ltd, the country's largest container shipping firm, beat forecasts with a 21 per cent rise in second-half earnings on the back of China's booming trade, the firm reported yesterday, and pledged to seek faster growth this year through acquisitions.
Scottish islanders protest new Sunday ferry service

Strait Talk

Big claims will lead to higher premiums
SHIPPING is steadily getting safer. That is the key message to get over despite a widespread perception to the contrary.

web site

Shipping News

Shipping Reits catching on: finance firm
SHIPPING investment trusts are going to become more commonplace as shipping companies increasingly move away from unproductive price-earnings and net asset valuations, according to the head of German-controlled finance company First Ship Lease Ltd.
Pacific veggie freight rates going up
CONTAINER shipping lines, including Neptune Orient Lines' APL, operating on the westbound transpacific trade route between Asia and North America have announced their intention to raise freight rates for chilled vegetables.
China Cosco rides on trade boom, beats forecast
CHINA Cosco Holdings Co Ltd, the country's largest container shipping firm, beat forecasts with a 21 per cent rise in second-half earnings on the back of China's booming trade, the firm reported yesterday, and pledged to seek faster growth this year through acquisitions.
Scottish islanders protest new Sunday ferry service

Strait Talk

Big claims will lead to higher premiums
SHIPPING is steadily getting safer. That is the key message to get over despite a widespread perception to the contrary.

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Evergreen, Hapag-Lloyd and Wan Hai to launch new Indo-China service Supply and demand discrepancy fails to materialize on Asia-Europe trade India-US service to launch in May CMA CGM profit rises in 2005 Global Fortune Lines in Singapore to act as regional office for Bumi Laut Group Kelang Multi Terminal hoping for liberalisation of Malaysia's port sector Taizhou to invest US$500m on ports TNT deploys `Mobile Worker' in Asia Hactl volumes rise 8.2pc in Q1 Qantas Group seeks approval for unit's int'l route network Icelandair orders two more Boeing 787s

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MOL to launch Asia-East Africa service GFL gears up to better serve customers' needs A.P. Moller-Maersk vows to honour existing P&ONL port contracts Panama Canal to be widened at cost of $ 7.5 bn Panalpina Board proposes dividend hike Maersk eyes new terminal projects in S-E Asia Evergreen enhances online services for customers Kalmar wins major straddle carrier refurbishment contract Extended new Le Havre Port targets Asian containers Wallenius Wilhelmsen goes greener with Kalmar's RoRo trucks Dirk Wittkowski appointed Sr Rep of Rickmers-Linie in China Fourth consecutive year of growth as TT Club posts strong results Varun Shipping bags award Bharti Shipyard bags Rs 400-cr. deal CMA CGM Chairman suggests shipowners pool container terminal fund Protocol Marine services wins coveted ISO 9001:2000 certificate Exports from KASEZ total Rs 1,101 cr. in 2005-06 Bangladesh identifies 20 transport corridors for trade with India Corporate investments from Bangladesh may be allowed CLCS scheme under TUFs extended VAT on farm export items to go Govt devising ways to stop misuse of EPCG Committee formed to address inverted duty structure problem Sector-specific export targets to be fixed in May Japan emerging major market for garment exporters 3.75 lakh t. sugar contracted for export Mohapatra asks global operators to be part of Indian ports' development KPT container terminal gets govt nod Chennai Port sets 2 cargo handling records in a single day Kakinada deep water port registers 20 pc growth in cargo throughput in 2005-06 Forex reserves up by $ 2,503 million to $ 1,48,662 million Foreign Trade Policy Analysis: Current Trends-By M. Sreedharan Asia Pacific Business summit in Singapore from today

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APRIL 11, 2006
Dirk Wittkowski appointed senior representative Fire in "MOL Initiative" engine room extinguished Emirates SkyCargo expands services to Europe Railion Danmark cuts intermodal services in Denmark Serra Shipping sold to Ventana Arcese

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APRIL 11, 2006
Trawler hijacked off Somalia Launch hitch for Graig ship New India-China service Baltic Exchange raises buy-back price Nordic American Tanker takes delivery of 9th ship Box book launched

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APRIL 11, 2006
$100 million for Coast Guard icebreakers? Fredriksen orders AHTS's at ABG Hawaii's Young Brothers to add tugs and barges Aker Yards delivers arctic container ship Wartsila power for Viking RoPax Jurong to complete Noble Bingo semis Vietnam yard fixes ship damaged during launch

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Europe braced for 'illegal' box showdown DEEPSEA shipping lines continue to operate hundreds of millions dollars worth of container equipment in the full knowledge that it will become illegal in the European Union next year, according to the head of a container leasing firm. Brussels resists demands for resurrection of 'manning directive' THE European Commission is holding out against pressure from Euro MPs for the controversial European Union 'manning directive' to be resurrected, writes Justin Stares in Brussels. Insurers act quickly to seek shelter from the storm INSURERS have been forced to bring forward their purchases of reinsurance cover by as much as three months as a shortage of capacity mounts in worldwide markets. Ship Finance in final split with Frontline THE 'final separation' of Ship Finance International from Frontline has been completed with the appointment of a new chief executive. Owners set to shoulder higher hull premiums SHIPOWNERS are likely to come under steady pressure from Lloyd's and other insurers for dearer hull and machinery premiums as a result of a heavy casualty start to the year, writes James Brewer.

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APRIL 11, 2006
Cruisers getting younger and richer A new survey conducted by the Cruise Lines International Association reveals that cruisers' average age is falling, average income is rising, and a vast pool of potential prospects remains untapped PDVSA fulfils India crude commitment PETROLEOS de Venezuela has made its second oil shipment to India following an agreement signed last year to export 2M barrels of crude a month Transneft warns against Caspian lobbying TRANSNEFT has underlined its opposition to plans to expand the volume of Caspian crude loaded from the Caspian Pipeline Consortium terminal at Novorossiysk Overheating causes Philippines fires PHILIPPINES domestic vessels St Peter the Apostle and Heaven Star have been hit by fire this week US Congress focuses on nationalism NATIONALISM seems to be a continuing priority in the US Congress, where a major maritime bill conference report rewards US interests while penalising overseas entities Embiricos, Foschi awarded EPAMINONDAS Embiricos was named Seatrade Personality for 2006 last night for his "outstanding representation of the London Greek community in the City of London." AWB kickbacks: ministers grilled Corsica Ferries to boost Toulon capacity Eurogate denies P&O rumours Japan offers India training ship Osaka Gas signs LNG contract HK investigates container explosion Salvage firms in BC Ferries talks Asia acts on maritime arbitration

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APRIL 11, 2006
China eases investment, customs rules Experts say it is becoming easier for foreign companies to both invest in and export to the Asia superpower. Harbor truckers plan protests Canada to mirror C-TPAT rules Teamsters want Maersk to abide by UN workers rules Salvors towing Hyundai Fortune to port BNSF Railway opens China office U.S. official says Congress may ease passport law "The Box That Changed The World" tells containerization story Three lines offer new China-India service Taranto feeder expands Italia Marittima network services India's Tuticorin plans second box terminal Descartes acquires ViaSafe

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APRIL 11, 2006
Continuing St Petersburg boom prompts PLP to try to divert empties Continuing increases in cargo-flows to St Petersburg have prompted the second-largest terminal, PetroLesPort, to ask customers to divert some empties, in order to clear the queues. Dalian Port IPO to fund deep-water berths HK IPO candidate Dalian Port Company plans to complete the construction of four new container berths between 2006 and 2008, using proceeds from its listing and bank loans. DPW bids for Tuticorin phase two Dockers take unilateral action as collective agreement talks continue South Africa expects 15% annual growth over next few years COSCO expects increases in rates, cargo and capacity in 2006 'Extraordinary' events hit SBB's 2005 results Tanjung Priok rail-link may be finished this year HMM to issue bonds Italia Marittima launch Algeria service Piraeus receives Cosco maiden call

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APRIL 11, 2006
Stolt signs with Gulf Navigation Dubai-based firm will take over parcel tanker options and place ships in Joint Tanker Service pool. All in the family George Economou controls 35% of DryShips 14 months after the IPO, but toss in some advice and a little magic and the number is higher. Puncture, not crack, says Graig Hugh Williams denies that construction problems caused an ingress of water at the launch of Welsh shipowner Graig's first Vietnamese handymax. Options open Omega is pushing ahead with newbuilding options despite smaller than projected IPO proceeds. United front on battle for Vostochny The tussle for control of the Russian port of Vostochny has seen shares lumped into a single offshore entity. DryShips draws down funds Bulker owner pays off old debt and confirms new acquisition will arrive this month. Whopping slick fine Record sea pollution fine in France for V.Ships and master of containership Maersk Barcelona. Aker delivers Nornickel's first Russian miner Norilsk Nickel (Nornickel) starts its fleet with delivery of multi-purpose vessel from Aker Yards. Stolt picks up a plum Tumbling share price prompts buyback of another 100,000 shares by the chemical tanker owner. Goldenport sells more Underwriters exercise over-allotments after surprise success of Greek owner's London IPO. Trio launch India-China link Evergreen, Hapag Lloyd and Wan Hai Lines team up to tap world's fastest growing economies. New chief at SFI The changes continue at Ship Finance International (SFI) as Fortis' Lars Solbakken replaces Tor Olav Troim. Vroon takes MPI stake Dutch shipowner becomes majority shareholder in owner of wind turbine installation vessel.

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APRIL 11, 2006
Container shipping boosts China COSCO profits 31% WTSA to raise chilled vegetable rates TACA fuel surcharge rates unchanged Italia Marittima to start Taranto/Algiers feeder Stricken "Hyundai Fortune" on tow to Salalah APS opens Charlotte office Fliers circulate about May 1 trucker strike in Los Angeles KCS, Norfolk Southern joint venture gets green light Descartes buys ViaSafe Venezuela/Cuba trade volumes up sharply Personnel moves at Allen Lund NRF and Global Insight: Ports operating smoothly Port of Le Havre opens first terminal of Port 2000 USAID outlines procedures for food aid handling in Houston

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APRIL 11, 2006
Arctic container vessel delivered by Aker Yards After ice trials on the Northern Sea Route Aker Yards delivered the 14,500 DWT arctic container vessel "Norilskiy Nickel" to ... New ferry arrives at Bornholm The new mono-hull fast ferry "Bornholm Express" has arrived safely at the isle of Bornholm. Last Saturday the ferry ... "Alandia" sold to Med Rederiaktiebolaget Eckerö on Åland has agreed to sell its ferry "Alandia" to a buyer in the Mediterranean. The ferry, currently ...

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APRIL 11, 2006
Fuel oil drives Houston prices to fresh highs Firming 3% sending bunkers to price levels not seen since last year's hurricane season. Matson cuts costs with green policies Shipowner adopting green-friendly operating policies as well as saving fuel costs with lower vessel speeds. Master and manager ordered to pay huge pollution fine Maersk Barcelona crew members incurring hefty fine of nearly $1 million for pollution offences in French waters. LSFO demand and cost set to soar ARACON speakers predict increasing pressure on availability and higher premiums as LSFO demand takes off in the next few years. Oil markets: Brent crude hits record high Record highs of over $69 per barrel as ongoing tensions over Iran's nuclear program left markets shaky. Cost increases prompts TSA to up rates on Asia-bound routes Rising costs for fuel and port fees as well as concerns over surplus of vessels prompt rate hike. ARA markets surge in line with crude movements Japan: Nippon Oil & NYK set record retroactive bunker price Japan's biggest shipping company and Nippon Oil Corp. have set their highest ever retroactive bunker price for March.