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Smedvig to buy Keppel unit's share in US$82.5m rig
OFFSHORE drilling contractor, Smedvig Asia Ltd, has announced plans to exercise an option to purchase Keppel Hitachi Zosen's 72 per cent interest in a US$82.5 million semi-submersible drilling rig.
Ocean Glory I crew win fight for wages
Pan-United's marine units boost H1 profit
Insurance premiums for ships calling at Colombo to be cut
OOIL's interim profit doubles

Air and Land Transport

Korean president orders probe into aviation industry
PRESIDENT Kim Dae-Jung has ordered an investigation into South Korea's aviation industry after the US downgraded the country's air safety rating, officials said.
American Air ends code share with Asiana after safety downgrade
Boeing offers to buy CAL's A340 jets
Thai Air permitted to raise fares on overseas flights
Qantas hasn't approached us with offer: Virgin Blue
Cathay blames pilots for cancelled flights
TWA unsecured creditors may get 4% of claims

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Shipping News

Smedvig to buy Keppel unit's share in US$82.5m rig
OFFSHORE drilling contractor, Smedvig Asia Ltd, has announced plans to exercise an option to purchase Keppel Hitachi Zosen's 72 per cent interest in a US$82.5 million semi-submersible drilling rig.
Ocean Glory I crew win fight for wages
Pan-United's marine units boost H1 profit
Insurance premiums for ships calling at Colombo to be cut
OOIL's interim profit doubles

Air and Land Transport

Korean president orders probe into aviation industry
PRESIDENT Kim Dae-Jung has ordered an investigation into South Korea's aviation industry after the US downgraded the country's air safety rating, officials said.
American Air ends code share with Asiana after safety downgrade
Boeing offers to buy CAL's A340 jets
Thai Air permitted to raise fares on overseas flights
Qantas hasn't approached us with offer: Virgin Blue
Cathay blames pilots for cancelled flights
TWA unsecured creditors may get 4% of claims

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Port of Fos calls for application Swisscargo, MAS cancel Basle-KL operation Qantas reports profit after tax of $218.4 million UPS chairman and CEO Jim Kelly to retire Emirates goes virtual

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AUGUST 20, 2001
Norwegian 'Njet' to SAS' acquisition of Braathens Vopak acquires GATX Asian Terminals MISC and OOCL in European service Swissair management problems with cost cutting OOIL's profits up Aer Lingus chairman drowned Port of Seattle with IBM in e-business

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AUGUST 20, 2001
Crude oil falls again on US supplies Rotterdam starts week softer Good demand in the Mediterranean Fujairah market expected to fall, demand sluggish Slow start to the week in Singapore

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AUGUST 20, 2001
Cascade General's Portland Shipyard keeping busy during summer season Port of Seattle hit with $5 million in repairs due to damage from last spring's earthquake Coast Guard honors ferry passenger for part in rescue of men from capsized canoe Army Corps of engineers gets jump on mounding of dredge material at Columbia mouth United Parcel Service chairman will step down in January 2002

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Berlioz first of CMA-CGM quintet MARSEILLES-based owner and operator CMA-CGM has taken delivery of the 6,630 teu CMA CGM Berlioz, the largest French containership. The 300 m-long vessel, pictured in the port of Le Havre yesterday... Watchdog to probe A&P's Cammell deal UNION fears that UK shiprepairer A&P's £10m ($14m) buy-up of rival Cammell Laird's northern England assets on Friday will create an industry monopoly are to be examined by the Offic... OOCL in box first with Freightliner OOCL has signed a landmark 10-year deal with UK train operator Freightliner for a dedicated daily container service between Southampton and Manchester. The Hong Kong-based container line sai... Hull risk pact throws lifeline to Sri Lanka AN unprecedented deal has been hammered out between the Sri Lankan government and hull war risk underwriters in London to ease the insurance stranglehold on the country's seaborne trade. ... Riley joy on Best Lloyd's boost LLOYD'S chairman Sax Riley has welcomed a decision by ratings agency AM Best to affirm the market's A rating and remove a "negative outlook" proviso attached to it, writes James B...

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AUGUST 20, 2001
Tacoma's new road link opens IRA hike will 'stabilise market' Bangla salvor for stranded cargo Lloyd's cuts Colombo war surcharge Baltic launches cyber trading floor Argentine owners win tax break Colombo cuts bunker prices again Hyundai predicts FPSO surge Sydney sites put up for tender NYK bags 26-year Thai coal contract ITF wins Ocean Glory I judgement Now PTP courts PSA Canada penalises more steel Crowley pulls out of St Lucia Colon is 'weak link' in drugs war Panama to probe crew scam company Canada to ship food aid to N Korea Singamas to build flat rack box NEL ferries to get safety checks Non-loco link plan for Tokyo/Osaka A&P captures Cammell

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AUGUST 20, 2001
Journal of Commerce Group sold to Commonwealth Business Media Commonwealth Business Media signs agreement to purchase the assets of the publisher from The Economist Group. Sri Lanka expects insurance relief Insurers have agreed to reduce premiums on ships calling at the Port of Colombo, senior government officials said. Maersk nixes Taipei port project A consortium to develop a new container transshipment center will do it without the world's largest box carrier. Inttra adds three to portal The multi-carrier ocean shipping portal has signed up a trio of third-party logistics providers that will bring to 2 million the total TEUs to be handled by the portal in 2001. China Airline opens China-US service USF Holland opens Ohio terminal ITC: S. Africa, Argentina dumping steel Cathay Pacific traffic falls Truckers block Brazil terminal United ends two services, opens Delhi Carriers file Sri Lanka surcharges OOCL parent profits double New bill seeks HMT repeal Port of Seattle chooses IBM for e-business

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Ostende se prépare au lancement d’un nouveau service passagers Dès que la commission compétente aura approuvé le “Shengen Gate”, le port d’Ostende pourra préparer la venue d’un nouveau service pour passagers. Il sera assuré par Transeuropa Ferries (TEF), compagnie qui propose actuellement sept départs fret par jour dans les deux sens entre Ostende et Ramsgate. OOIL réalise un premier semestre record grâce à OOCL Le groupe Orient Overseas (International) a réalisé un résultat record à l’issue du premier semestre, le bénéfice après taxes et intérêts minoritaires étant passé de 24,45 à 40,30 millions d’USD, alors que le chiffre d’affaires n’a augmenté que de 2,3% à 1,18 milliard d’USD. Cette performance résulte d’un contrôle de plus en plus strict des coûts (les coûts opérationnels ont baissé de 24,38 mio. d’USD), à la forte position du dollar et à la faiblesse de l’euro et du yen, à une diminution des prix du fuel et de la charge d’intérêts, auxquels s’ajoutent de meilleurs résultats du secteur immobilier, ainsi qu’une meilleure performance dans le transport de containers. La filiale armement OOCL intervient pour 90% de la performance globale. Le trafic fluvial français affecté par les inondations Au cours du premier semestre, le volume fret transporté sur les voies d’eau françaises a baissé de 5,6% par rapport à la même période de l’année dernière. Les prestations de transport ont régressé de 11%. Opel Anvers perdrait déjà 5.000 Astras Malgré les mauvaises nouvelles, les ouvriers d’Opel Anvers ont repris le travail lundi matin. Entre-temps, la direction d’Opel envisage de transférer la production de 5.000 Astra d’Anvers à Eisenach dans le cadre des conditions de marché actuelles. La direction d’Opel Anvers rencontrera le ministre flamand des Affaires Economiques et des Affaires Etrangères Gabriels afin de lui présenter le plan Olympia.

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AUGUST 20, 2001
Frontline stock plunges below 52-week low The botched Berge Tokyo deal may have contributed to the downfall. Forestry firm to build $15m Venezuelan port The new port on Orinoco river will initially be utilised for wood products exports. Another tanker sinks small vessel off US east coast The Bahamas-flagged Saint Vassilios was carrying fuel oil to Baltimore port. Belships returns to profit But declining products, gas and dry bulk markets set to extract toll from Norwegian owner. Tropical Storm Chantal heads for Mexico The storm is expected to make landfall on the Yucatan peninsula late Monday. General Dynamics extends offer for Newport News Closing date will be no earlier than 4 September, ten business days after notification. Gearbulk income halves Bulk shipowner Gearbulk saw its income fall away in the first half of this year. Canada holds nine ships Port state control inspectors netted two bulkers with structural problems during July. Products trade saves Gotland Strong tanker market compensates Visby based owner for ferry sector weakness. Baltic Exchange goes live The London shipping exchange is ploughing up to '3m into its new electronic trading platform. Pan United interim profits double Forex gains and buoyant marine market help to lift Singapore yard group. Daewoo poised to exit debt programme Korean shipbuilder Daewoo expects to enter a new phase this week on its road to financial recovery. A&P buys Cammell Laird yards Deal to buy Mersey, Tyne and Tees yards fails to save jobs at collapsed repairer.