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Larsen & Toubro wins port deal: report
Larsen & Toubro Ltd, India's biggest engineering company, may have won approval to build a 30 billion rupee (S$1.1 billion) shipyard and port in southern India, according to a report published yesterday.
Gulf tanker rates may fall again on ship oversupply
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may drop for a 19th day as the supply of ships increases.
STX Group to set up US$150m unit in Vietnam
South Korea's STX Group said yesterday it would set up a manufacturing base in Vietnam, investing US$150 million by 2015, to expand its offshore plant business.
Commodity ship values fall the most in 3 1/2 years

Strait Talk

Tougher times for charterers, classifiers
A FRENCH court has convicted oil company Total, classification society Rina and Italian tanker owner Giuseppe Savarese and manager Antonio Pollara of negligence leading to the loss of the tanker, the Erika, which went down off France's Atlantic coast.

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Shipping News

Larsen & Toubro wins port deal: report
Larsen & Toubro Ltd, India's biggest engineering company, may have won approval to build a 30 billion rupee (S$1.1 billion) shipyard and port in southern India, according to a report published yesterday.
Gulf tanker rates may fall again on ship oversupply
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may drop for a 19th day as the supply of ships increases.
STX Group to set up US$150m unit in Vietnam
South Korea's STX Group said yesterday it would set up a manufacturing base in Vietnam, investing US$150 million by 2015, to expand its offshore plant business.
Commodity ship values fall the most in 3 1/2 years

Strait Talk

Tougher times for charterers, classifiers
A FRENCH court has convicted oil company Total, classification society Rina and Italian tanker owner Giuseppe Savarese and manager Antonio Pollara of negligence leading to the loss of the tanker, the Erika, which went down off France's Atlantic coast.

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Shenzhen retains No 4 box port spot behind Singapore, Shanghai, Hong Kong China experienced double-digit growth in EU, US and Japan trade Maersk Line joins container shipping PR campaign Agility unveils acquisition of Starfreight Logistics in Kenya FPS Sri Lanka to handle logistics for mega plant construction Zim Integrated Shipping issues statement to shipping press CAAS to spend US$2 million to upgrade air traffic control Grand China Express Airlines launches Yantai-Tianjin service Continental Airlines up 53pc, posts US$566 million pre-tax profit Regional Air Cargo Carriers Association holds conference in Washington in May

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Maersk Line introduces new BAF formula Shipbuilding subsidy hinges on MoS convincing MoF Modest Infrastructure to be busy with newbuilding orders Pipavav Shipyard files draft red herring prospectus with SEBI for IPO TSA chief sees no scope to trim rates in 2008 despite US slowdown Pulses imports may total 3 m tonnes Oman slams door on Indian poultry GCC optimistic of signing FTAs this year Mormugao Port makes marvellous mark Rlys to ride on Chinese sophistication Sindhu Cargo & Sical CFS jointly ship apparel FCL to Italy ex-VCT Nath invites UK investments in infrastructure DMIC DC now incorporated BoA clears 11 SEZ proposals Re. invoicing no panacea, believes EEPC

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Merged VVWL chooses board of directors Port of San Francisco seeks investors Air India Cargo to expand freighter operations Berkshire Hathaway buys more BNSF stock Bifa freight service award winners

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Lloyd's vs Lloyds: court battle looms Poor Q4 for Euronav Golden Ocean fixes kamsarmax duo ESPO welcomes Brussels' plans

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JANUARY 22, 2008
DHS releases National Response Framework NASSCO starts second product tanker Crowley completes Angola delivery Awilco Offshore secures financing for semi MAN Diesel adds another China two-stroke licensee Hanjin buys Aveva for Subic shipyard

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JANUARY 22, 2008
US Federal Reserve slashes interest rates SURPRISE move fails to calm markets and shipping shares remain vulnerable to volatility. Shares plunge Dry bulk worst hit Quintana-Excel deal falls apart as dry bulk bites QUINTANA terminates sale process, blaming weak freight rates, plunging share prices and the credit crunch. Ramunia accepts MISC reverse takeover offer MISC strengthens position in international offshore sector after striking $969m fabrication yard deal.

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JANUARY 22, 2008
Drybulk major admits failed sale Dry bulk player Quintana Maritime has confirmed that its long-anticipated fleet sale has been sunk by a lack of acceptable offers Pipavav IPO to fund yard PIPAVAV Shipyard is planning an (IPO) to part-finance the construction of a new shipyard for Rs 28,880M Flu outbreak leaves chickens at sea QATAR and Oman have closed their ports to Indian poultry imports on news of avian flu in West Bengal, leaving millions of chickens stranded at sea Tanker explosion injures three THREE crew members were injured after an explosion aboard a small domestic chemical tanker in Batangas port today GT Nexus expands in Europe US logistics company GT Nexus has broadened its presence in Europe with the acquisition of Metaship, a German specialist in logistics management technology ABG to rent out yard ABG Shipyard in India has a new job on its hands ' the development of 50-hectare maritime industrial park in Subic Bay Technology key to Vinashin success IMO welcomes scrap safety standards Cargo tax sought for infrastructure Congestion forces Oz-China ore cut Shipping battered in Asian slump V.Ships dismayed at criminal charge STX to build yard in Vietnam Marco Polo ties up with Glencore

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JANUARY 22, 2008
Political, environmental interests threatening S. California port projects Port environment never more "vicious, more adversarial," says McLaurin of Pacific Merchant Shipping Association. Truckers proposing measures to cut diesel emissions CSX gains in Q4 DHL exec to lead NFTC CN net declines Shippers support report on transportation policy TGA, Zim to upgrade ATX GT Nexus acquires Metaship Cargo could be hit by British Airways strike vote DHL demands $93M from ABX Lowe's CEO to head RILA

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JANUARY 22, 2008
GA to upgrade ATX service as Zim joins in GT Nexus buys to expand European activities Boston's box boom Bandar Abbas goes from strength to strength FEFC suspends 'highly criticised' UK congestion surcharge

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JANUARY 22, 2008
$3m bonuses slated Carnival Corp prepares big performance-based bonuses for top executives, including chief executive Micky Arison. Shipyard head named After the departure of Astillero Rio Santiago's president, the provincial governor names his replacement. Oldie sells for $25.5m A 23-year-old handymax bulker goes to undisclosed buyers with a charter attached. New CFO at Euronav Ludwig Criel replaced by deputy finance chief at Belgian tanker owner Euronav. Lazard upgrades tankers US-listed tanker owners Overseas Shipholding Group and Teekay get an upgrade from Lazard Capital Markets. Euronav still red Fourth-quarter results are negative at the Euronext-listed tanker owner, which blamed a depressed tanker market. Shipping stocks plunge US-listed shipping companies follow world markets in a share-price plunge. Canada hails own efforts Canadian transport ministry report identifies early successes in five years of marine security initiatives. Pearl under negotiation Owner says the deal for the hadymax bulker Fortune Pearl is still under negotiation. CSDC readies bulker tie-up Hong Kong-listed giant poised to complete a dry-cargo joint venture with Shanghai Puyuan Shipping. Lonrho brings in reefer boxes Six-ship South African liner fleet boosted by increase in refrigerated capacity. Bishop backs under-fire Chalwa V.Ships CEO says he will do everything in his power to ensure unbiased justice for master indicted for his role in South Korean oil spill. Novoship recommends offer Russian tanker owner's board tells minority shareholders to sell up to new partner Sovcomflot. Quintana sale collapses Excel Maritime fails in its bid for control of the Nasdaq-listed bulker owner. Ramunia plays ball with MISC Malaysian shipping group completes "reverse take-over" of shipyard after sale to compatriot engineering firm. Todd takes in Everett New York-listed shipyard agrees to take control of compatriot and slashes quarterly dividend to free up cash. Europe follows Asia's lead Shipping shares show plenty of red ink across the continent as fears of a global slowdown continue. Ship grounds off Italy Class inspectors expected to give the all-clear to chemical carrier which grounded in Ancona. Heavyweight for Dockwise Wagenborg fleet chief Rob Strijland jumps ship to run Dutch owner Dockwise Transport. Rescue act for KSEW Pakistan outlines revamp for Karachi shipyard as it seeks to bring in overseas orders. Strike escalation threat Greek port workers plan to step up action to stop privatisation of state-controlled terminals. Unicorn finds partner South African owner teams up with Calulo to expand domestic tanker and bunker operations. Qatar Nav wins port deal Feedership player signs with Qatar Petroleum to provide workers and equipment for Umm Said. Two injured in Philippines blast No leak reported from chemical tanker docked near site of explosion in Batangas. STX in Vietnam venture South Korean shipbuilder will splash out $150m to build a new yard. Asian markets plunge Shipping shares a sea of red as stock sell-off continues into second day over US recession worries. Odfjell buys Odfjell Laurence Odfjell takes advantage of share price slump in Oslo to build up stock holding. Trio to boost Asia-ME links Emirates Shipping, OOCL and TS Lines to launch new service linking China, India and Middle East.

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JANUARY 22, 2008
Maersk will seek fuel recovery from all customers FEFC lines lifting United Kingdom congestion charge Zim ending transatlantic service to join one from Grand Alliance Emirates joins service between West Med/Middle East/Indian sub Vietnam government wants crackdown on container pilferage SeaFreight will increase bunker surcharge Evergreen says ship did not run aground in Savannah Lufthansa Cargo to use sister company's IT platform Fed makes major rate cut Schwab continues to press for Colombia FTA Korea Express subject of Kumho-Asiana bid DP World throughput up 18% in 2007

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JANUARY 22, 2008
Rem Offshore in asset play ' Siem buys PSV Rem Offshore, which just placed on of its newbuildings on six-year time charter to Cisca of Mexico from delivery by Kleven Yard in April, has sold another of its newbuildings and netted NOK 36.0 million profit on the ... Russian product tanker collide with FSO The Russian, Lukoil-owned product tanker Usinsk, 20,000 DWT, built 2002, was late last week involved in a collision with Russian floating storage and offloading (FSO) vessel Belokamenka in the Kolskiy Bay off Murmansk. The FSO suffered a three metres ... Erika master awarded damages The Indian master of the tanker Erika, Karun Mathur who was jailed after the sinking of the vessel and who didn't participate in the trial in Paris, has been awarded damages by the court. The defence had claimed EUR 50,000 ...

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JANUARY 22, 2008
SEACARD gets nod with government award Recognition for exemplary innovation as online system receiving prestigious Packard honour. Chairman of IBIA task force has resigned IBIA officials say task force reform-proposals will be up for consideration in February. Bunkering JV formed in South Africa Company to own and operate 'sophisticated bunker barges' in South African ports. Bunker Holdings adds to Ukraine supply network MGO offered at Black Sea - Danube meeting point, lubes to follow. Bunker prices plummet as crude oil dips 380 cst material down by more than $20 pmt in key Asian markets, European markets open with fresh falls. Rotterdam market falls further Showa Shell cuts bunker volume Japan's oil refiner to reduce bunker supply by 25% from February. Ceypetco buys gasoil parcel Five charged over South Korea's worst spill Captains of tanker, barge and tugboats involved in the Hebei Spirit spill face prosecution.