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Shipping News

Sinotrans to buy more assets from parent
China National Foreign Trade Transportation (Group) Corp, the nation's logistics giant, is pushing ahead with plans to sell more assets to its listed unit, Sinotrans Ltd, a senior executive said yesterday.
Conference aims to address pressing issues
A forthcoming exhibition and conference highlights the way the business of shipping has become increasingly complex and sophisticated. With market segments becoming more clearly defined there is a greater need to identify and address the issues more precisely.
Industry to tackle global shipping issues
INTERNATIONAL delegates will join members of the local shipping, insurance and banking industries in a two-day conference at the end of the month to tackle the major issues impacting global shipping, with particular emphasis on the outlook for Asia.

Strait Talk

Paying dearly for past mistakes
SOME interesting facts emerged from a seminar held in Singapore recently by Norwegian classification society Det Norske Veritas (DNV). Over the past five years, it appears, the number of serious casualties resulting from navigational errors has increased significantly. That may not come as a total surprise, but the extent of the problem might.

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Shipping News

Sinotrans to buy more assets from parent
China National Foreign Trade Transportation (Group) Corp, the nation's logistics giant, is pushing ahead with plans to sell more assets to its listed unit, Sinotrans Ltd, a senior executive said yesterday.
Conference aims to address pressing issues
A forthcoming exhibition and conference highlights the way the business of shipping has become increasingly complex and sophisticated. With market segments becoming more clearly defined there is a greater need to identify and address the issues more precisely.
Industry to tackle global shipping issues
INTERNATIONAL delegates will join members of the local shipping, insurance and banking industries in a two-day conference at the end of the month to tackle the major issues impacting global shipping, with particular emphasis on the outlook for Asia.

Strait Talk

Paying dearly for past mistakes
SOME interesting facts emerged from a seminar held in Singapore recently by Norwegian classification society Det Norske Veritas (DNV). Over the past five years, it appears, the number of serious casualties resulting from navigational errors has increased significantly. That may not come as a total surprise, but the extent of the problem might.

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PSA Intl profit up 59pc, but US subprime crisis casts shadow on 2008 HKG, HKU, Dalian Martime U sign accord for to trains sea lawyers China Merchants to build 29 box berths from Shenzhen to Shanghai in two years Adidas sets up transit hub in Tianjin Bonded Logistics Park Beijing package and mail train services resume after holiday APL Logistics starts guaranteed delivery of full container loads Schenker chairman takes early retirement to pursue new goals after 60 South Africa's Trencor box handler profit up 23pc in 2007 Europe and China grant each other unrestricted maritime access Cathay sees strong earnings growth for 2007: forecast Hainan Airlines to launch Beijing-Seattle service Juneyao Airlines launches Shanghai-Beihai service

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Maersk Line in transpacific vessel sharing agreement with MSC & CMA CGM Small exporters marooned by Finance Minister, asserts DEA chief US agency projects wheat imports by India Exports reach $ 124 bn in 10 months of 2007-08 Port of Charleston gearing up for growth in trade Shipping Secy. inspects JNP facilities, assures MoS backing for development SRTEPC disappointed with Budget Direct Logistics scouting for second acquisition in Singapore or China

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MARCH 4, 2008
Viking case settled in secret deal "Little" progress on lifeboat hook safety Evergreen's new feeder service

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MARCH 4, 2008
Navsea shopping for hydrographic vessel StealthGas expands LPG fleet

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MARCH 4, 2008
No comeback for ships pulled from Pacific APL chief Ron Widdows warns vessels withdrawn from Pacific trades are all employed and won't be returning in near future. Box lines consolidate in Pacific Brussels rattles sabres over CO2 emissions BRUSSELS engaged in some sabre-rattling today ahead of a key IMO meeting on shipping and its contribution to climate change. StealthGas inks fleet expansion deal STEALTHGAS unveils $200m fleet expansion comprising chiefly newbuildings due to shortage in second-hand market. Things can only get better THIS might not be the ideal time to take over the presidency of the port of Genoa. No longer a poor relation THE recent alliance between Intercargo and RightShip is a welcome move that will promote quality.

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MARCH 4, 2008
Volgotanker goes on the block A federal court ruling is expected any day now in Moscow that will authorise the bankruptcy administrator in charge of Volgotanker to sell off its assets Stealthgas in $200M dash for growth LPG operator Stealthgas has confirmed $204M in acquisitions and orders that will add 10 vessels to the fleet through 2011 Indian coal imports will double MUMBAI 4 March ' Indian coal imports are expected to nearly double over the next five years to reach some 60M tonnes by the year 2012, according to a Bloomberg report Hyundai targets 200 ships in 2008 HYUNDAI Heavy Industries has said that newbuilding market fundamentals are still and will continue to be good Clyde Group sold in MBO A MANAGEMENT buyout for an undisclosed seven-figure sum has taken place at the Clyde Group, the provider of specialist maritime and offshore recruitment, training and travel services Greek groups to fight pollution tax THE Union of Greek Shipowners and the Greek Shipping Co-operation Committee, both based in London, have come out strongly against plans to tax ships for emitting pollutants Finnish MarAd safety boss suspended Third Hebei Spirit trial opens Finnlines buys four ro-ro ships North Koreans release Russian ship Oil breaks all-time record Enagas fillip for Spanish ports Rio Blanco moved on after 15 days Jane's owner buys LR-Fairplay stake Muhibbah expecting more growth Maersk wants action on bunker costs

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MARCH 4, 2008
TWIC, smog plan threaten LA truck crisis Dominance of West Coast ports in the U.S. westbound trade with Asia is being threatened by East and Gulf Coast ports which continue to gain containerized cargo from Asia. TSA opens TWIC centers U.S. extends Andean preferences Evergreen opens Med feeder NAFTA trade gains Hapag-Lloyd doubles profit as merger rumors swirl Export ABCs: Payment terms ILA chief Hughes elected to AFL-CIO council Mumbai extends box concessions FMC seeks attorneys Sea cuts air-cargo growth

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MARCH 4, 2008
Victorian subsidy to keep containers on rail DSV takes on Peel's Roadferry Sinotrans exits transpacific and shuts up shop at Long Beach Hapag-Lloyd names 8,749TEU boxship as earnings soar Caribraz goes for Fortaleza

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MARCH 4, 2008
Aegean exercises US-listed bunkering player exercises options for four 5,500-dwt tankers at Qingdao Hyundai Shipyard in China. Explosion judgment tossed US federal appeals court throws out a 2005 judgment against a shipper for the explosion aboard the boxship DG Harmony. Liner player nabs manager AIM-listed Lonrho hires Safmarine's multipurpose ship head to lead its port and shipping operations, including Sails liner service. 'Pleased' with LPG deals Cantor Fitzgerald analyst happy to see StealthGas buying 10 handymax LPG carriers. Omega eyes shorter fixtures US-listed products tanker owner may seek shorter time-charters as export refineries face delays. StealthGas' second spurt US-listed owner run by Harry Vafias launches second expansion drive by laying down $204m to buy 10 handysize LPG carriers. Ex-boss takes home $4.7m American Commercial Lines' former chief executive sells of off $4.72m in the US barge and shipyard owner's stock. UN targets Iran line UN Security Council sanctions resolution encourages countries to inspect Islamic Republic of Iran Shipping Line vessels for prohibited cargo. Palmali wins the day Turkish owner takes over Serbia's JRB after original winning bidder pulls out of privatisation. Frontline prevails Appeal court orders full loss of profit payment for VLCC forced to take less lucrative employment following collision. BC burned by costs Canadian owner's nine-month profit drops, with further falls likely as expensive newbuildings are delivered. Hapag-Lloyd's earnings soar German parent TUI says box line's 2007 profit up by 121%. Eitzen buys Solvang stock Axel Eitzen-led CECO takes holding in compatriot LPG owner Solvang over 5% but no further purchases planned. Prisco volumes down Russian tanker owner's smaller fleet carries less oil in 2007. Liberia wants more from flag West African country to renegotiate register contract with US managers. Evergreen feeds Italy Taiwanese box line runs one vessel to Civitavecchia and La Spezia from Taranto. SCI and STX to team up? Indian owner and South Korean Shipbuilder in talks over yard joint venture, secretive sources say. Tosmare takes turn for worse Latvian shipyard posts annual drop in profit despite completing five ships as revenues rose. Palmali adds more at Krasnoye Turkish owner books another two products tankers at MNP Group yard in Russia. Turkey, Romania get it together Talks on resuming ro-ro services across Black Sea as transport ministers sign maritime deal. Aboitiz on the up Ship sales and reduced capacity make for better 2007 profit at Philippines ferry group. IHB builds profit Owner of Bulgaria's Varna Shipyard boosted both earnings and revenue in 2007.

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MARCH 4, 2008
ELAA sure of database's legality, benefit despite ACL resignation TUI to drop Hapag-Lloyd merger plan, shipping profits rise 121% NOL reports higher volumes, rates Hanjin takes delivery of 4,300-TEU ship Evergreen starting Italy/North Africa feeder Crowley continues equipment fleet expansion No change to U.K. light dues levels Continental, United post February cargo gains Cargolux increasing fuel surcharge Germani named COO of LAN Cargo Envirotainer boosts Iberian presence with Reinhart appointment WFS makes Sabol VP of North American cargo operations New Ohio rail terminal opens Bowers to head KCS business World Shipping Council backs "10+2" CEOs press governments to act on global anti-counterfeiting initiative Kuehne + Nagel signs Europe warehouse sale, leaseback with Goodman Wincanton strengthens German high-tech logistics operations Union leaders express concern about airline mergers GAC India opens facility near Mumbai Crowley brings Guatemala logistics in-house British forwarder Woodland opens bigger office in Hull TWIC cards: 25% have begun application process Ports of Auckland first half profit up 19% Europe hit by storms

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MARCH 4, 2008
No univocal answer from Estonia video investigation The Swedish National Laboratory of Forensic Science, SKL, has handed over its investigation report on 35 diver video films from the Estonia wreck to the National Board of Psychological Defence. SKL's mission has been to decide if any of the ... Havyard buys stake in Aker Yards Havyard Invest ' the investment vehicle of Per S'vik and his family ' bought 4.6 per cent of the shares in Aker Yards for NOK 242.3 million on Friday and another 2.99 million shares on Tuesday, but plans to ... Out-of-court settlement in Rosella case Viking Line, the International Transport Workers' Federation and the Finnish Seafarer's Union (Finlands Sjömans-Union) have reached an out-of-court settlement regarding the flagging-out of the ro-ro/passenger ferry Rosella from Finnish to Estonian flag. The agreement ...

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MARCH 4, 2008
Shipping lines face tough negotiations over floating BAFs Carriers are digging in on bunker fuel 'because they have to' says APL official. Bunker market report from Praxis Tallinn: Decline in cargo throughput slows Estonian oil port ships 1.8 million mt of liquid product in February. Container lines seek efficiency with vessel sharing agreement Transpacific partnership between three container lines to maintain capacity while minimising fuel cost impact. EU ministers threaten unilateral action on sulphur emissions 'Unanimous understanding' that the IMO 'isn't doing enough,' says EC spokeswoman. Rotterdam market remains firm Shell tanker grounded off Bahamas Salvors to remove bunker fuel and possibly cargo from 44,800 dwt products tanker before attempting re-float. Pakistan refiner cuts product flow to marine market Supplier says its bunkering operations have been suspended. Buyers sought for Egyptian 180 cst cargo Egyptian refiner offers two straight-run fuel oil parcels for March loading. PetroChina plans oil refinery in Singapore Reports say the Chinese oil firm is carrying out feasibility study on the project.