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Shipping News

Bear Stearns unit to acquire MC Shipping
Bear Stearns Cos' private-equity arm took a majority stake in MC Shipping Inc as part of a deal to buy the entire maritime transportation company for US$284 million.
Royal Caribbean strikes deal with Panama
Panama and Royal Caribbean Cruises Ltd agreed on Monday to make the Central American country the starting point for some of its tour operations in a bid to boost the cruise operator's presence in the region.
Transocean settles drilling patent case
Transocean Inc, the world's largest offshore oil driller, agreed to settle a lawsuit filed against smaller rival Noble Corp over drilling technology patents.
Tanker rates may extend gains as ship supply dwindles

Strait Talk

Making the world listen
THERE have been two outspoken speeches by senior figures in the shipping and marine and insurance world in the past couple of weeks that are symptomatic of a widespread feeling that shipping needs to speak up more and not be pushed about. And there has been an encouraging development which should result in Asian shipping having a more effective voice.

web site

Shipping News

Bear Stearns unit to acquire MC Shipping
Bear Stearns Cos' private-equity arm took a majority stake in MC Shipping Inc as part of a deal to buy the entire maritime transportation company for US$284 million.
Royal Caribbean strikes deal with Panama
Panama and Royal Caribbean Cruises Ltd agreed on Monday to make the Central American country the starting point for some of its tour operations in a bid to boost the cruise operator's presence in the region.
Transocean settles drilling patent case
Transocean Inc, the world's largest offshore oil driller, agreed to settle a lawsuit filed against smaller rival Noble Corp over drilling technology patents.
Tanker rates may extend gains as ship supply dwindles

Strait Talk

Making the world listen
THERE have been two outspoken speeches by senior figures in the shipping and marine and insurance world in the past couple of weeks that are symptomatic of a widespread feeling that shipping needs to speak up more and not be pushed about. And there has been an encouraging development which should result in Asian shipping having a more effective voice.

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NYK, 'K' Line revise profit upwards, buoyed by China demand Philippines to cut box security fees Bulgarian container terminal building expected to start before 2008 Newly-certified Vinashin offers Singapore-Ho Chi Minh feeder service Port of Luanda to build container terminal operated by Maersk, APM Drifting containers pose increasing danger to other craft Jurors to decide if shipper knew if container held illegal drug Air China plans to set up cargo hub in Shenzhen Guangzhou airport signs co-operation agreement with Schenker China Postal Airlines Nanjing hub starts operation

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Fortune Sea Carriers completes 2 years of successful operations Bharati Shipyard Q1 net up by 83.56 pc Nordcapital orders eight 13,100-TEU ships from Hyundai Heavy Industries Pisces Container Lines opens Ludhiana office Impressive 75 pc rise in GE Shipping's Q1 net Exporters may be allowed to self-certify farm goods Home-grown varieties may find no place in global food chains' shelves in India Let's get rid of trade barriers, Minister Jairam Ramesh tells Bangladesh EU imposes anti-dumping duties on Indian chemical used in making perfumes VCT acquires status of international transhipment hub ABGKCTL reaches new milestone in performance excellence As Gandhidham business booms, banks too mushroom

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JULY 31, 2007
RH Freight names new managing director for Finland Cheng Lie Navigation and Wan Hai start North China/SE Asia/Chennai link BA World Cargo launches new freighter routings from Pakistan Imperial Reederei snaps up Rijnaarde BV Norbert Dentressangle boosts interim turnover Czechia to spin off railways cargo division

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JULY 31, 2007
Bear Stearns poised to buy MC Shipping Woodside commits to US flag Black Watch Legionnaires cases confirmed Kalmar's Tangier order

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JULY 31, 2007
Koreans accused of leaking shipbuilding secrets to China Bollinger delivers 35,000 bbl d/h barge to Bouchard Woodside commits to U.S. flag for Oceanway LNG Algoma exercises Turkish tanker option

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JULY 31, 2007
Cosco Corp reaps rewards of newbuilding focus SHIFT into newbuilding pays off with Cosco Shipyard Group raking in orders worth $3.3bn. Cosco bags 10 VLCC to ore carrier conversion contracts Woodside commits to US crewing and flagging WOODSIDE Natural Gas commits to crewing and flagging of regasification ships for the proposed OceanWay project. Fleet growth helps lift GO Carriers earnings LONDON-listed dry bulk specialist doubles profit to $5.5m after increasing its fleet size. Blue sky thinking clouded by confusion THE new Brussels maritime policy was a green paper, now it's a blue paper. In his own words: Joe Borg on maritime policy GOVERNANCE in the context of a new maritime policy for the Union should reflect an integrated approach, Joe Borg says.

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JULY 31, 2007
USCG charge hearings opened A Congressional panel heard this morning from two former Coast Guard judges who testified that the scales of justice in USCG hearings are tipped toward the government Jinxed ro-ro back in Buenos Aires ILL-fated ro-ro vessel Transmodal is expected back in Buenos Aires under tow this evening after several months in Rio awaiting spare parts for the main engine Unlicensed tug operator caught AN unlicensed tug operator has been relieved of his duties and his undocumented vessel removed from service by Miami's captain of the port Philippine women join forces THE maritime sector in the Philippines has set up an association for women in shipping Dry charter rates boost SCI profits HD Ferries in hot water again Legionella confirmed on Black Watch Tigris Leader led to safety Itajai loaders await end of strike Samudera posts strong 2Q Nord Stream to clear Baltic wrecks Opposition to scanning bill grows China Cosco shares on a high Great Eastern profits soar

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JULY 31, 2007
Virginia ports rail volume grows The Virginia Port Authority said its port rail traffic to and from Midwest markets grew to more than 430,000 TEUs in fiscal 2007. Judge is asked to throw out ILA racketeering suit Seattle port CEO criticizes Tacoma-NYK deal Container volume posts gain at Port of Montreal Rate hike for India lines China trade boosts Port of Hamburg volume Horizon Lines prices tender offer for senior notes Matson adds Maui crane Nehru terminal tops 1M boxes Seko appoints new CFO APM Terminals in venture to operate Angola box hub

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JULY 31, 2007
ECT tightening up dwell time on export and import containers Brazil to invest in study for new mega-container terminal Cosco, K Line and Yang Ming to end USEC/Med link APM Terminals secures Luanda concession Almost USD2 billion to be invested at New York/New Jersey

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JULY 31, 2007
More trouble for Stolt SEC has taken its probe of back-dated stock options into a formal investigation of the much-investigated parcel-tanker owner. A little off General Maritime falls slightly short of analysts' expectations in 2Q and slips from its year-ago profit. Crew crisis deepens Employers say they are now 10% short of officers and general cargo sector is starting to suffer. Holding pattern? Analyst sees Teekay Tankers coming in October, but where will that leave Teekay Corp? Maersk signs Angolan deal Danish owner's terminal arm to run Luanda facility with domestic investor Gestao de Fundos. Norden nets sale nugget Danish owner makes $46m profit from sale of 2004-built panamax to mystery Greek owner. Ferry master sacked Captain of Washington state ferry fired for dock collision last month. HMM forms Vietnamese venture Domestic ship agency Gemadept strenghtens ties with Korean boxship line. V.Group breaks China Joint venture with broker Norstar of Monaco sees V.Ships relative enter newbuilding market. Livanos takes control Greek owner's bulker company DryLog announces 100% grip on two capesize and panamax pools. Cosco Corp building profit Expanding shipyard operations help Singapore-listed group to better figures in first half. Paragon to buy and fly Greek dry-bulk Nasdaq hopeful snaps up three second-hand units and sets $17 mean price for IPO. Earnings up for SCI Indian owner moves in right direction in first quarter ahead of big fleet renewal. KLC steps up a gear Korean LNG and bulker player records huge profit rise in second quarter. Aussies hold 10 South Korean handysize bulker among those ships held over oily water separator problems. MHI breezes to bigger profit Japanese shipyard group puts first quarter improvement down to gas and wind turbine business. Shiny Arpeni Indonesian tanker and bulker owner gets back on track in second quarter with improved year-on-year result. GO grows Expanded fleet sees annual income soar at Global Oceanic Carriers although average TCE rates fall. Gulf Nav rising Dubai-based oil and chemical tanker owner posts strong first half as demand continues. MES off to a flier Japanese shipyard posts huge increase in first profit as revenues jump. Seadrill keeps buying Fredriksen controlled drilling firm snaps up a further 12m shares in Malaysia's SapuraCrest. Profitability improves at Samudera Cost cutting and currency turnaround help to improve the bottom line at Indonesian liner operator. Algoma snatches second Canadian owner declares option to buy another chemical tanker being built on spec at Eregli Shipyard in Turkey.

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JULY 31, 2007
Bear Stearns group to buy MC Shipping Tropical Shipping's 2nd quarter income down 5% CMB more than doubles first half profit Maersk trimming Asia/Caribbean/Mexico service Samudera's first half profit up 31% EWL introducing low sulphur fuel surcharge NWA Cargo adds House Air Waybill template JIG warns DHS about data mining supply chain transactions World Shipping Council details problems with 100% screening Shipping, trade spark Puerto Rico autonomy resolution LG Electronics leases warehouse near Atlanta Curry joins Agistix as COO Shipper fires back at NVO in dispute Savannah TEUs up 14.5% in fiscal 2006-2007 Long Beach, HK port security questioned in Mexican drug shipment APM Terminals subsidiary awarded Luanda concession

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JULY 31, 2007
Wallenius Wilhelmsen takes stake in Chinese ro-ro terminal Wallenius Wilhelmsen Logistics has taken a 15 per cent stake in a new ro-ro terminal in the Chinese Port ... "Norden" orders more product tankers D/S "Norden" have signed up with the Chinese shipyard Guangzhou Shipyard International for two product carriers on 50,500 DWT ...

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JULY 31, 2007
Public meeting for new US ship fuel legislation Senator leading charge for cleaner bunkers in all ports. Mixed supply outlook in African markets South African supply improved but not yet dependable, other markets feel effects. Rotterdam market stable at midday Singapore fuel market looks tight for August Trader says market is 'balanced' but warns it could be 'the lull before the storm'. Bunker storage tanks will ease road congestion UK government backs plans for storage terminal in bid to keep fuel oil transport off the roads. FOBAS raises quality alert in the US Gulf Fuel-testing firm warns of contaminated fuel linked to fatty acids. Hong Kong MGO demand holds steady Hong Kong MGO suppliers say they were largely unaffected by fishing ban. Adani reschedules bunker tanker launch Indian supplier expects to have two new 3,000 dwt bunker tankers this year. Singapore looks at potential of offshore storage Detailed feasibility study expected to be completed by end-2008, government agency says. Little relief for US bunker buyers More concern over oil supply Non-OPEC production falling as OPEC still ruling out supply increase. New ships will cut bunker consumption Next generation of containerships could slash operating costs. Limited activity in ARA barge market this morning Aegean considering its 'own brand of lubes' New staff member appointed to oversee the expansion of its marine lubes sector. New Indian terminal should be running next month Operation of oil terminal in Mundra delayed from mid-July to August. DP World to upgrade Fujairah terminal Project to increase under-utilized container terminal's ability to handle larger ships. Ships collide off central Japan coast Fuel oil leak 'has been contained'.