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Panama voters approve US$5.25b canal expansion
PANAMANIAN voters gave an overwhelming thumbs up for the US$5.25 billion expansion of the 92-year old Panama Canal that will allow substantially larger ships to squeeze through the man-made shortcut, courtesy of a new set of locks.
Kuehne & Nagel Q3 profit gains 22%
KUEHNE & Nagel International AG, the world's biggest sea-freight forwarding company, said third-quarter profit rose 22 per cent because of rising demand for goods shipped across the world.
Orient Overseas expands, orders 4 vessels
ORIENT Overseas Ltd, owner of Asia's eighth largest container shipping line, have placed a US$477 million order for four vessels from Samsung Heavy Industries Co to expand its fleet.
New M'sian shipping zone to open in Nov
STX Shipbuilding gets order for three ships

Port Shots

Port Shots
LLOYD's of London is considering designating North Korea and the nearby region as risky, which might increase maritime insurance premiums in the Sea of Japan, the Nihon Keizai newspaper said.

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Shipping News

Panama voters approve US$5.25b canal expansion
PANAMANIAN voters gave an overwhelming thumbs up for the US$5.25 billion expansion of the 92-year old Panama Canal that will allow substantially larger ships to squeeze through the man-made shortcut, courtesy of a new set of locks.
Kuehne & Nagel Q3 profit gains 22%
KUEHNE & Nagel International AG, the world's biggest sea-freight forwarding company, said third-quarter profit rose 22 per cent because of rising demand for goods shipped across the world.
Orient Overseas expands, orders 4 vessels
ORIENT Overseas Ltd, owner of Asia's eighth largest container shipping line, have placed a US$477 million order for four vessels from Samsung Heavy Industries Co to expand its fleet.
New M'sian shipping zone to open in Nov
STX Shipbuilding gets order for three ships

Port Shots

Port Shots
LLOYD's of London is considering designating North Korea and the nearby region as risky, which might increase maritime insurance premiums in the Sea of Japan, the Nihon Keizai newspaper said.

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Panama Canal expansion receives voter approval OOIL volume and revenue up in Q3 MISC upgrades Halal Express with call to Nhava Sheva PTP to implement safety measure as haze lingers UPS Q3 operating profit rises 5pc to US$1.58b XICT wins three container awards Oasis obtains HK air operator certificate Continental posts Q3 net income profit Cargo 2000 commends BT communications system

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OCTOBER 23, 2006
Poulson slams lack of investment in training Star Princess inquiry "biggest since Sea Empress" Savannah "to gain from Panama expansion" OOIL order 4 more giant boxships ICS looks for range of measures to tackle emissions "Yes" vote for Panama Canal expansion Mississippi collision Lifeline for Equitas

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OCTOBER 23, 2006
U.K. MAIB reports on cruise ship balcony fire Sembawang picked for drillship upgrade Panamanians say yes to Canal expansion

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OCTOBER 23, 2006
Panama Canal gains yes vote for major expansion project Matson lowering fuel charge for Hawaii, Guam/CNMI, Micronesia services Port of Bellingham schedules meeting eyeing Fairhaven property Governor Kulongoski asks ITC to support Oregon Steel Mills Union Pacific sets record with third quarter numbers

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Panama voters say 'Si' to canal expansion plan IN A historic vote with widespread ramifications for the international shipping community, the Panamanian electorate has overwhelmingly backed the expansion of the Panama Canal. North Korea could be made risk area by Joint War Committee NORTH Korea could shortly be designated a war risk area, a consultancy working for the Joint War Committee representing the London marine insurance sector has warned. Lerenius to quit ABP top job in wake of Admiral takeover BO Lerenius, chief executive of Associated British Ports, will step down next March after almost eight years running the UK's largest ports group.

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OCTOBER 23, 2006
American Club VP slams labour gap NEW YORK 23 October ' American P&I Club VP John Poulson has issued a scathing critique of shipping's cost-cutting strategies and how they are dramatically reducing the ranks of qualified seafarers and surveyors Cayman group grabs Singapore shipbuilder NAUTICAL Offshore Services of the Cayman Islands is making a takeover bid for the Jaya Holdings shipbuilding and offshore services group of Singapore, news reports say Last bodies recovered from Rio collision THE bodies have now been found of all crew from the fishing boat Costa Azul, which sank in Rio de Janeiro after a collision with a reefer vessel last week Star Princess probe complete THE UK Marine Accident Investigation Branch has published its conclusions on the March fire aboard Princess Cruises' Star Princess that started on a cabin balcony. Smit lighters Pakistan oil barge SMIT Singapore has safely lightered the sunken Pakistani oil barge Orion-I, which capsized on 6 October Another Mississippi mishap THE Mississippi River system has suffered its second casualty in a single week, with yesterday's collision between a Hapag-Lloyd box ship and a Tsakos Shipping bulker ABP chairman to retire in March K+N unfazed by rate decline Stream back-pedals on order rumour Tallink cuts 128 Finnish jobs French praise for Maltese flag New Seaway boss wants aliens out Panamanians say yes to Canal expansion

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OCTOBER 23, 2006
Voters approve Panama Canal plan Voters approve plan to add third set of locks, a $5.25-billion project that will double the waterway's capacity by 2014. Ships collide on Mississippi Railroad volume grows UPS reviewing Airbus order BNSF sets on-dock mark Europe View: EC still aiming at maritime sector Houston coffee imports up Waterways eye Mumbai traffic Container train operators hit India bulk ban Four Soft net expands

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OCTOBER 23, 2006
Panama Canal expansion will make waterway a shipping hub Panama Canal Administrator Alberto Aleman Zubieta said today that the canal will become a "hub for shipping" as it stands at the intersection between the east/west and north/south trades. Indian Railways tries to bulk up non-box business, banning bulk in containers Indian Railways' attempt to bar the movement of some bulk commodities in containers ' protecting its conventional freight market ' has prompted protest from operators who have obtained licences since deregulation. China to boost private rail infrastructure investment Antwerp celebrates 9% box growth, but Asia volumes still "very modest" OOIL seeks financing to buy four Samsung 8,000 teu Titans Fesco to go to market China COSCO to issue US$190m in short-term bills Constantza barge terminal under construction, driven by Danube traffic Busan growth stalls while Gwangyang and Inchon are at record highs HMM doubles Rotterdam-Slovakia rail service frequency Freightliner ties up two ocean carriers for UK services Panamanian voters back Canal expansion plans by three to one

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OCTOBER 23, 2006
Whale of a deal Private equity fund takes stake in Italian passenger operator Moby. Bank doubts OPEC New York's Dahlman Rose is not among those cutting tanker projections after cartel's pledge of 1.2m bpd output cut. Oh, to see $11 again... Shipping's newest IPO company Ultrapetrol has traded as dismally as it priced its flotation. Two injured in Syrian ship blaze German navy to the rescue of crew of containership on fire off Tartous with two rushed to Limassol hospital. Fesco to list in London Moscow also a likely floatation venue for Russian boxship owner Far Eastern after busy month of acquisitions. Riches from rubbish Cory sale set to prove truth of 'where there's muck there's money' proverb. Bye Bo ABP Ports head and former Stena exec Lerenius to bow out next year after passing the baton to Admiral. Judge dismisses RCCL case Family of man who disappeared from cruise vessel in Aegean Sea last year to continue fight in appellate court. Cruise fires spark action Run of fires on ships' balconies leads to massive drive to avert further tragedies. 'Contact lost' with sinking Russian ship Race on to save 18 crew members of timber carrier taking on water in Sea of Japan as communication lost with Vladivostok. Formosa orders at STX Three firm product tanker orders for Formosa Plastics at South Korean yard with LOI for two more. Panamanians say 'Si' Voters overwhelmingly back plans to widen Panama Canal, despite fears that plan could bankrupt nation. Hartmann orders at Fincantieri Italian shipbuilder increases offshore order book with deal for two anchor handlers from German owner. Ships collide on Mississippi A Hapag Lloyd containership has struck a laden Tsakos panamax bulker after losing power. OOCL books four more Hong Kong owner orders more 8,000-teu containerships at Samsung Heavy Industries.

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OCTOBER 23, 2006
TUI denies federal shareholding talks OOCL orders another four 8,063-TEU ships from Samsung NYK, Mitsui secure charter contract with CPC for LNG carriers SvitzerWijsmuller extends Adsteam offer again Maersk to add Puerto Cabello congestion surcharge MOL opens first logistics subsidiary in China Cathay Pacific gives CNAC shares to Asian charities Morgan Stanley: Retailers overbuying in summer affecting TL carriers Wal-Mart sings "R-E-S-P-E-C-T" for 3PLs BIS reviews effectiveness of Cuba, foreign policy-based export controls CBP Trade Symposium scheduled for mid-December Kuehne + Nagel's profit up 45% after nine months CargoWise and Sectra announce tie-up Panama voters back canal expansion TWIC under the gun, again Port of Antwerp's box volume up 9% Norfolk breakbulk terminal able to receive bigger vessels Lerenius to quit ABP

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OCTOBER 23, 2006
Swedish university on the high seas Soon, Sweden will have a maritime academy with somewhere on the high seas as address. A Swedish-flagged vessel will ... Record ro-ro handling in Göteborg In september, 37,000 units were handled in the ro-ro terminal in the port of Göteborg. This is nine per ... Blystad acquires capesize building contract Arne Blystad is believed to have bought a newbuilding contract for 175,000 DWT bulk carrier at Bohai Shipbuilding from Greek ...

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OCTOBER 23, 2006
Cruise line predicts flat fuel prices Carnival putting in its prediction for fuel prices over the remainder of the year. Plymouth service launched by FOS Bunker supplier and terminal operator to look for more UK and Ireland fuel supply locations. Further Black Sea expansion for Transbunker Bunkering operations just launched in the Port Kavkaz and Kerch strait areas. ARA market decreases with crude/barge prices Secured sample bottles can eliminate tampering Fuel-testing companies advise on tamper-proofed sample bottles, complementing Singapore's CP 60. South Korea: Demand soft despite competitive prices Price of 380 cst in Busan holds competitive edge over East Asian ports. Shipping lines lower bunker surcharges Two key carriers in the Puerto