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Shipping News

DP World sees little sign of volume recovery
Dubai-based port operator DP World said yesterday that there was no end in sight to a fall-off in activity caused by the global downturn, after reporting an 8 per cent drop in trade volumes in the first two months of 2009.
Bulk shipping rates seen stagnating
Rates to ship commodities such as iron ore that have more than doubled this year may stagnate until the middle of May, Greek shipping line Hellenic Carriers said.

Logistics

Alaska warming to Exxon slowly
Twenty years ago, when crude oil was gushing out of the wrecked Exxon Valdez supertanker and Prince William Sound was being blackened by what would become the nation's worst tanker spill, oil giant Exxon Corp was vilified in Alaska.
FedEx may pull Boeing orders if union law changes
FedEx Corp, the second-largest US package-shipping company, said that it may not buy 30 more Boeing 777 freighters should federal law be changed to make it easier for its employees to join a union.
TUI posts loss on merger costs, ups savings forecast
TUI AG, the German owner of Europe's largest travel company, reported a full-year loss on costs to integrate its purchase of First Choice Holidays plc and raised its forecast for savings from the deal.
DHL's China partner expects severe 2009

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Shipping News

DP World sees little sign of volume recovery
Dubai-based port operator DP World said yesterday that there was no end in sight to a fall-off in activity caused by the global downturn, after reporting an 8 per cent drop in trade volumes in the first two months of 2009.
Bulk shipping rates seen stagnating
Rates to ship commodities such as iron ore that have more than doubled this year may stagnate until the middle of May, Greek shipping line Hellenic Carriers said.

Logistics

Alaska warming to Exxon slowly
Twenty years ago, when crude oil was gushing out of the wrecked Exxon Valdez supertanker and Prince William Sound was being blackened by what would become the nation's worst tanker spill, oil giant Exxon Corp was vilified in Alaska.
FedEx may pull Boeing orders if union law changes
FedEx Corp, the second-largest US package-shipping company, said that it may not buy 30 more Boeing 777 freighters should federal law be changed to make it easier for its employees to join a union.
TUI posts loss on merger costs, ups savings forecast
TUI AG, the German owner of Europe's largest travel company, reported a full-year loss on costs to integrate its purchase of First Choice Holidays plc and raised its forecast for savings from the deal.
DHL's China partner expects severe 2009

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Grand Alliance to launch China-US east coast service CMA CGM to reduce Asia-US east coast services TUI closes US$6 billion Hapag-Lloyd sale to Hamburg investors group MOL car carrier fired on as it zig-zagged to safety from pirates Chinese box throughput continues to fall in February MSC Lion service makes first call at Guangzhou's Nansha Hamburg Sud takes delivery of 5,554-TEU Monte Alegre Israel's Zim Line lays up 10 containerships and 10pc of staff Agility sales up 16pc as profit rises to US$526 million African Cargo and Logistics Alliance teams up with PPG

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Ship hijackers free all Indians Baltic Dry Index weekly plunge steepest in 3 months February Suez Canal earnings fall Trinity Cargo Systems to expand operations in Mumbai & Delhi Ireland opens office in Mumbai, invites investments Fieo sure of US stores' demand picking up from May Tariff cuts for Gambia, Burkina Faso Trade barriers springing up Notification to scrap import duty on soya oil issued Safeguard duty imposed on chemical & aluminium items imports Trade with Africa can touch $ 70 bn in 5 years, avers Pranab Spices exports buck meltdown to cross $ 1 bn during April-Feb. 2008-09 JNPT's Board of Trustees bows out Lecture on Challenges in Port & Shipping sectors today System to test X-ray box scanners unveiled KPKS lauds Vaghela & Bhaskarachar for leading KPT from the front Talents to the fore at MbPT's Women's Day celebrations Tuticorin Port bags ICWAI Award for Excellence in Cost Management-2008 PM to review health of economy with industry leaders on March 28 IMF moots continued stimulus packages Nobel laureate hopes India, China will rescue global economy

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MARCH 24, 2009
Athens sea-air project back in business The ability to act quickly and efficiently has resulted in new and valuable shipments for the Athens sea-air project. Aktis Shipping and Forwarding, a leading player in ocean freig... Benghazi in RJ route network as of 1 June On 1 June, Royal Jordanian (RJ) will start operating a direct, regular, twice-weekly service between Amman (Jordan) and the Libyan city of Benghazi. It thus puts the destination ba... European Commission proposes easing of EU-Switzerland customs regime The European Commission has presented a proposal that would that would extend the scope of the 1990 customs agreement between the EU and Switzerland. This would bring the pact in l... BLS AG: Rudolf St'mpfli to succeed Hans Lauri as board chairman Dr Hans Lauri, the chairman of the board of the Swiss rail service provider BLS AG, is resigning. Lauri has led the BLS executive board since June 2002. The railway board's designa... Intercontainer implements managerial changes The combined transport operator Intercontainer-Interfrigo SA, based in Basel (Switzerland), has been given a new management team. At a recent meeting Interfrigo's board of dir... Qatar Airways operating more flights to Muscat The Arabian carrier Qatar Airways is set to provide more flights to Muscat. With effect from 29 March, the airline will boost its connections from 15 to 21 per week ... Continental to inaugurate non-stop New York-Shanghai service Today (25 March), Continental Airlines is inaugurating a scheduled daily non-stop service with a B777-200 from the airline's hub at Newark Liberty international... Etihad Crystal Cargo augments African network Etihad Crystal Cargo, a division of Etihad Airways, will now operate its A300-600 freighter aircraft between Abu Dhabi (UAE) and Nairobi (Kenya) twice a week, following a new inter... World economy leaves mark on Marseilles Fos Marseilles Fos, the leading French cargo port, reported that its throughput in January and February 2008 fell by 21% compared with the first two months last year, as the global rec... London Thamesport welcomes new SAECS service London Thamesport has welcomed the return of the SAECS intermediate service. This is to be followed a new reefer express Service, also operated by the South Africa Europe Container... Hamburg S'd holds naming ceremony for vessel in Argentina The German shipping company Hamburg S'd recently held a ship naming ceremony in Buenos Aires (Argentina). The ship, which was given the name "Monte Alegre", is the ninth in a serie... New route to Umm Qasr Tuscor Lloyds UK Ltd, the UK-based NVOCC and freight forwarder, has reported that its new route to Umm Qasr (Iraq) is highly successful. Having found a niche in the market, Tu...

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MARCH 25, 2009
EMS closing Copenhagen office OTAL's new services

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MARCH 25, 2009
Casino cruise operator files for Chapter 11 Trailer Bridge reports fourth quarter red ink GAC launches ship lay-up service DryShips reports $1 billion fourth quarter loss

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MARCH 25, 2009
Washington governor inks bill shifting response tug costs Port of Grays Harbor calls for public input on 28th Street Landing Lumber association predicts demand to hit bottom this year Seattle Port Commissioners Ok funds for Marginal Way project Joseph Ueberroth stepping down from Ambassadors International post

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MARCH 25, 2009
Dryships in billion-dollar loss DRYSHIPS has posted a billion dollar loss in its fourth quarter results Private has edge over public PRIVATE shipping companies appear better equipped to handle the downturn than public firms, with smaller public entities in the weakest position DP World posts strong results TERMINAL operator DP World today posted strong yearly results, but warned of a challenging year ahead MPC Capital defers placings LISTED KG house MPC Capital has been able to postpone a number of equity placings for ships after negotiating delivery delays with the shipyards Hapag seeks cost reduction GERMAN container line Hapag-Lloyd has launched a '365M ($492M) cost cutting plan, according to former parent group TUI Russian shippers looking abroad LACK OF port capacity and corruption in Russia is forcing the country's shippers to do business elsewhere, British consul general for Russia William Elliott told Fairplay today at a London Ports and Terminals Groups meeting Owners up ante for loan repairs THE looming question ahead for bankers is whether shipowners who earned billions during the boom will continue to pay up to repair existing loans

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MARCH 25, 2009
Post Office Seeks Service Cuts to Save Money Truckers See 'Firmer' Economic Roadbed DP World Profits Surged INTTRA Signs Long-term Contracts Housing Starts Increase MCC Transport Launches Intra-Asia Service Senator Convenes Highway Hearing Known Shipper Program Not Working BA, Iberia Closing on Merger UTU Urges Peace for Rails, Customers Asia Pacific Air Cargo Plummets NS Shifts Senior Jobs Maersk Hikes Euro-Asia Rates Japanese Trade Falls at Record Pace Senate Confirms Locke as Commerce Secretary Factory Orders Move Up in February Hapag-Lloyd Boosts 2008 Earnings AMB Sets Stable Forecast

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MARCH 25, 2009
Hapag-Lloyd: TUI will 'assume role of the banks' DP World adopts cautious outlook Long-term future of US Pacific Northwest ports good, says report GA teams up with Zim again Finnlines initiates calls at Immingham

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MARCH 25, 2009
Ship shifters Camillo Eitzen is taking vessels from EMS and moving them to third party rivals as it strives to cut costs, Peter Knudsen says. Perrott swoops in Former Sealion Shipping man takes over from Willem Dekker (pictured) as CEO of ER Offshore. Green costs Already a benefit compared to land transport, shipping should not allow itself to be hurt by green costs, Bimco boss says. Bulker bulge DVB says there will be a surplus of over 500 panamax bulkers by 2011 as demand drops off. Yacht hijacked Pirates drag yacht and two crew to Somali coast as Seychelles seeks international help. Teekay prices LNG offshoot selling 4m units 70 cents above current trading price in New York. KG crashes Germany's MPC Munchmeyer Petersen Capital racks up EUR 96m loss for 2008, its first ever annual deficit. Yujin makes move Newly London-listed Asian tanker player puts its money where its mouth is with deal for up to four new chemical carriers. Heads roll at CECO Camillo Eitzen to chop 16% of shore-based staff in Oslo and Copenhagen in light of challenging shipping markets. Reefer in collision Norbulk-managed vessel with pilot onboard collides with berthed ship in Philippines port. Premier rescue FTSE 250 oil company emerges as saviour of insolvent Oilexco North Sea. Bulker buy India's Apeejay Shipping confirms purchase of group's second gearless panamax. Debt collector Lithuanian repair yard pockets cash owed for work on Norwegian cargoship. DryShips loses big Impairment loss of $700m on Ocean Rig buy behind large loss at George Economou-led owner. Copenhagen axed Annette Malm Justad-led EMS shuts up technical management shop in Copenhagen - 27 jobs lost. A fond farewell In the week that TUI sold Hapag-Lloyd, the container line posts improved operating profit of EUR 211m. DP World down Profit slashed in half at ports giant which hails result as "another year of solid profitable growth". Foremost bearish Deputy chairman Angela Chao tells TradeWinds WebTV that the bulker industry must be patient and prepare for a difficult year. Attica pushes on Greek ferry group increases 2008 earnings, excluding ship sales, as domestic volumes rise. Captain returns Canada's BC Ferries ordered to reinstate sacked captain of Queen of the North. At last STX Shipbuilding of Korea announces its first newbuilding contract of the year ' an FSO. Premuda plunges Italian tanker and bulker group sees profit fall 16% in 2008, despite revenue rise. Cash for Swiber Singapore offshore player raises around $19m from sale of majority stake in construction vessel. TGP to issue stock Teekay LNG spin-off Teekay LNG Partners has announced plans for 4m share issue.

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MARCH 25, 2009
Higher rates help Hapag-Lloyd in '08 Cummings: Tougher ballast water rules needed Grimaldi adds Boston to West Africa service IATA doubles 2009 loss forecast Air cargo plummets for U.S. carriers DOT strives to restart Mexican truck program LaHood addresses DOT grants, freight policy Intercontainer expands European rail network Lawmaker backs Napolitano on scan-all law DHL to open warehouse for Thai retailer Exel makes personnel moves FMC reviews 21 OTI license applications Leone elected AAPA chairman

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MARCH 25, 2009
New information on arrest of Hebei Spirit officers The master and the chief officer of Hebei Spirit were not arrested for having caused the situation when a crane barge hit the tanker resulting in the worst ever oil EU demands IACS to open up The EU Commission has ordered the International Association of Classification Societies, IACS, to amend its membership criteria, chairman Kong-Gyun Oh told a conference in USA, Lloyd's List reports. He Billion dollar quarterly loss for DryShips Nasdaq-listed DryShips reports a Q4 2008 loss of just above USD 1 billion. Impairment of goodwill from the acquisition of Ocean Rig amounted to USD 700 million. A revaluation J Lauritzen reports satisfying result J. Lauritzen A/S came out of 2008 with a satisfying result of USD 154.7 million (USD 347.1 million in 2007). It was a 50 per cent dive Erria A/S logs huge loss in 2008 Erria A/S reports a DKK 38.2 million deficit in 2008 against a profit of DKK 7.8 million in 2007. The deficit is much due to the fourth

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MARCH 25, 2009
Europe: Bunker prices stable mid-week Rotterdam bunker market sees 'very low demand'. US crude stocks rise to highest since 1993 Weekly DOE report shows bigger than expected changes in US oil inventories. Shipping company apologies for bunker spill 'We have accepted our responsibilities', Swire tells Australian authorities. Hapag-Lloyd delivers strong 2008 result 19% growth in operating earnings despite high bunker prices and financial crisis. Chemical tanker market 'bottoming out' Profit margins protected by fall in bunker prices and low interest rates. Port developments put on hold Analysts highlight danger of extreme congestion as credit squeeze hits India's port sector. Asia: Singapore 380 cst bunkers at one-month high Bunker prices continue to edge up, in line with cargo values. Bunker sales plunge in Taiwan CPC sees 20-30% drop in bunker sales last month. Ferry owner blames fuel costs for lower profit 56% drop in net profits due to higher fuel costs in the past year. $100 crude oil 'possible' later this year Oil prices likely to rally as market tightens.