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Shipping News

Cosco Pacific's box volumes soar 45% on China boom
COSCO Pacific, the Hong Kong-listed arm of China's top shipping conglomerate, recorded a 45 per cent surge in 2003 container volumes as the country's surging economy propelled a wave of maritime trade.
NYK's full-year outlook not as rosy as rivals'
THE full-year performance outlook for Japan's largest shipping line Nippon Yusen Kaisha 'leaves something to be desired' compared with rivals' projections, according to president Takao Kusakari.
Melbourne port picks preferred bidder
AUSTRALIA's premier container port, the Port of Melbourne Corporation , has selected Westgate Ports Pty Ltd as the preferred bidder for the redevelopment of Victoria Dock.
Queen christens the Queen
BRITAIN's Queen Elizabeth names the cruise liner Queen Mary 2 at Southampton with the help of the master of the vessel Commodore Ronald Warwick .

Air and Land Transport

Austrian Airlines probe finds faults in several planes
AUSTRIAN Airlines said on Friday an investigation into the emergency landing of one of its jets in Germany has found that other jets of the same model in its fleet had faults in panels meant to protect the engines from ice.
Flash insurers to pay out US$350,000 per family
Myanmar's 2nd international carrier delays first flights
Indian Airlines, other domestic carriers cut fares
Cathay to expand freighter fleet, services
Manchester City board in plane fire drama

Dockyard

Busy year to look forward to
IT is not often that the shipping industry enters a new year in a generally optimistic mood, with most indicators - and especially freight rates - painting a picture of relatively high earnings and prompting expectations of continuing strong markets for the next 12 months at least.

web site

Shipping News

Cosco Pacific's box volumes soar 45% on China boom
COSCO Pacific, the Hong Kong-listed arm of China's top shipping conglomerate, recorded a 45 per cent surge in 2003 container volumes as the country's surging economy propelled a wave of maritime trade.
NYK's full-year outlook not as rosy as rivals'
THE full-year performance outlook for Japan's largest shipping line Nippon Yusen Kaisha 'leaves something to be desired' compared with rivals' projections, according to president Takao Kusakari.
Melbourne port picks preferred bidder
AUSTRALIA's premier container port, the Port of Melbourne Corporation , has selected Westgate Ports Pty Ltd as the preferred bidder for the redevelopment of Victoria Dock.
Queen christens the Queen
BRITAIN's Queen Elizabeth names the cruise liner Queen Mary 2 at Southampton with the help of the master of the vessel Commodore Ronald Warwick .

Air and Land Transport

Austrian Airlines probe finds faults in several planes
AUSTRIAN Airlines said on Friday an investigation into the emergency landing of one of its jets in Germany has found that other jets of the same model in its fleet had faults in panels meant to protect the engines from ice.
Flash insurers to pay out US$350,000 per family
Myanmar's 2nd international carrier delays first flights
Indian Airlines, other domestic carriers cut fares
Cathay to expand freighter fleet, services
Manchester City board in plane fire drama

Dockyard

Busy year to look forward to
IT is not often that the shipping industry enters a new year in a generally optimistic mood, with most indicators - and especially freight rates - painting a picture of relatively high earnings and prompting expectations of continuing strong markets for the next 12 months at least.

web site

Shipping News

Cosco Pacific's box volumes soar 45% on China boom
COSCO Pacific, the Hong Kong-listed arm of China's top shipping conglomerate, recorded a 45 per cent surge in 2003 container volumes as the country's surging economy propelled a wave of maritime trade.
NYK's full-year outlook not as rosy as rivals'
THE full-year performance outlook for Japan's largest shipping line Nippon Yusen Kaisha 'leaves something to be desired' compared with rivals' projections, according to president Takao Kusakari.
Melbourne port picks preferred bidder
AUSTRALIA's premier container port, the Port of Melbourne Corporation , has selected Westgate Ports Pty Ltd as the preferred bidder for the redevelopment of Victoria Dock.
Queen christens the Queen
BRITAIN's Queen Elizabeth names the cruise liner Queen Mary 2 at Southampton with the help of the master of the vessel Commodore Ronald Warwick .

Air and Land Transport

Austrian Airlines probe finds faults in several planes
AUSTRIAN Airlines said on Friday an investigation into the emergency landing of one of its jets in Germany has found that other jets of the same model in its fleet had faults in panels meant to protect the engines from ice.
Flash insurers to pay out US$350,000 per family
Myanmar's 2nd international carrier delays first flights
Indian Airlines, other domestic carriers cut fares
Cathay to expand freighter fleet, services
Manchester City board in plane fire drama

Dockyard

Busy year to look forward to
IT is not often that the shipping industry enters a new year in a generally optimistic mood, with most indicators - and especially freight rates - painting a picture of relatively high earnings and prompting expectations of continuing strong markets for the next 12 months at least.

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Penavico and Wallem sign JV for Shanghai ship agency China sets new shipbuilding record BIMCO vessel CD-rom 2004 now available Port Klang facing tough times over fee hike Regulations and regulatory bodies in the spotlight Sembcorp divests full stake in Searching Maritime Cathay Pacific announces major expansion of freighter fleet Hainan opens skies to foreign flights FedEx expands South Korea flights

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LS Cargo and Rickmers-Linie ship massive tunnel boring machine to Malaysia Singapore set to stay top global cargo port with record 2003 showing APL in slot deal with MOL, Wan Hai NYK maps out fleet expansion plan New corporate structure to position PSA Group for global growth, expansion Salalah's box traffic surges by 59 pc in 2003 MOL clinches charter Greybox to manage box fleet of USL Jaitley to lead trade team to Israel Gulf crude exporters upset by India's tanker age norms Bumper kharif crop pushes up oilmeal exports by 42 pc 25 inland waterways projects under Sagar Mala identified CIWTC to begin Patna-Haldia cargo barge service from Jan. 14 Disinvestment panel puts off Ennore Port privatisation plan Mumbai Port handles 22 m tonnes in April-Dec. 2003, logs 5.61 pc growth Paradip Port starts handling import containers too Tuticorin Port achieves impressive 4.83 pc growth in cargo handling in Dec. 2003 US to screen air cargo too Jaswant doles out more sops in Round-II India can become a manufacturing hub, says Pant Locating proposed transhipment terminal project at Puthuvypeen can cut cost: CoPT officers Dahej terminal ready to receive lng tankers No duty payable on movement of semi-finished goods to processing premises & back Foreign Trade Analysis: Current Policy & Procedures SCI to hold 3-day 'Global Agents Meet' from today Y. K. Modi assumes charge as new Ficci President Fieo to hold meeting with commercial reps posted in W. Europe Fieo workshop on trade with S. Africa tomorrow

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JANUARY 9, 2004
OPEC admits to overproduction OPEC officials have owned up to overproduction, part of a mild OPEC effort to reassure the oil market that supply is ample and allow prices to ease back into the top end of OPEC's $22-$28 target price range. Oil hits new highs as US supply falls to 28-year low Despite the fact that data from the US Department of Energy (DOE) this week showed that stock of distillates, including heating oil, surged last week to stand above year-ago levels, the energy market has been more preoccupied with the record-low stocks of crude oil and forecasts for a deep-freeze to hit the US Northeast. Falmouth: Firm fuel oil offers available from early next week Tramp Oil and Marine Ltd confirmed to Bunkerworld today that they should begin supply in the port of Falmouth from next week. New year, new team expansion at O.W.Bunker Germany Gains across frosty Baltic keep new year rises on the boil The Baltic has started the new year in a firm frame of mind, with ports across the region showing continual gains over the last week, especially on distillate grades. Rotterdam firm with crude &a barges Singapore: PSA announces record throughput and expansion plans PSA Corporation (PSA) handled a record 18.1 million TEUs of containers at its terminals in Singapore in 2003. The company also announced plans for a 20% increase in its container handling capacity in the next few years. US West Coast firm with muted demand (& tight avails?) Ports on the US West Coast have been firming for a week now based on tight avails and Monday's crude rally. Suppliers we spoke to today though all seemed to believe that they were the only one in the market while others were left without product.

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Innovative technology reduces truck traffic and road congestion Customs agents concerned for EU enlargement Gefco integrates its German companies Hangartner launches new train between Karlsruhe and Domodossola Corsair wins traffic rights for flights to Cuba OOCL wins Top Maritime Asia Award Roelf de Boer new Deltalinqs chairman

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JANUARY 9, 2004
Stolt close to sale of tank container business French court wants to arrest the head of Malta's Maritime Administration Faulty freight rates after Worldscale error Trouble for BornholmsTrafikken

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JANUARY 9, 2004
K-Sea starts trading on NYSE IPO of 3,625,000 units at $23.50 a unit WMU names Seasecure President as Visiting Professor Will assist with security curriculum development Chilean frigate program opens up offset opportunities Lockheed Marytin/IZAR team issues Broad Industry Invitation VT Halter Marine makes first 2004 delivery 220 ft DPS-1 OSV for Seacor

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JANUARY 9, 2004
Marine Terminals Corp. crosses six million TEU mark Crowley Liner Services transports educational cargo U-Haul offers free storage to victims of Seattle storms US/Canadian railroads set new intermodal recprds Port of Seattle website offers easy access to information

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Singapore joins battle for spoils in Asia container boom SINGAPORE terminal operator PSA Corp has revealed plans to build five new berths, increasing annual container handling capacity by 20% to 24m teu. Shell reduces its estimate of proved oil and gas reserves by nearly 20% ROYAL Dutch/Shell has cut its estimate of proved oil and gas reserves by almost 4bn barrels, and failed to replace produced volumes for a third year in a row. Cold spell pushes crude to nine-month high OIL prices have hit nine-month highs on fears that harsh weather in North America will push crude stocks, already at their lowest since 1975, even lower, writes Martyn Wingrove . Hutchison port security charge angers UK freight forwarders PLANS by Felixstowe and Thamesport to impose a security levy on shippers have run into immediate criticism from cargo interests, writes Janet Porter.

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JANUARY 9, 2004
Dry market at record levels THE Baltic Dry Index closed above the 5,000 mark for the first time ever today after the greatest weekly gain since the bull market took off in September/October last year Have your say! IT'S almost official: the authorities in France and the US have gone mad. But which is the more crazy? Have your say! Indian breakers face scrapheap THE head of India's shipbreakers' association has warned that the world's largest demolition yard, Alang, faces a bleak future Revived Seagull boosts Latin rates THE revival of the Seagull liner service between the Mediterranean and east coast South America is part of a bid to restore rate levels on the depressed run UK seeks scrapping strategy THE UK government is to seek a strategy for ship breaking following the 'ghost ship' fiasco Crew home after being abandoned THE National Union of Seafarers of India has helped to repatriate 20 Indian seafarers from an Indian-flagged vessel that was abandoned off Lagos a year ago Pakistan punishes over PNSC deal CCL buys Grimaldi Genoa companies Spectacular naming of Queen Mary 2 Smit team in place for Tasman S Antwerp chases huge box growth Halter boosts ST Marine figures Chinese seafarers suspect over SARS Saarikangas back in the news Singapore plans more box berths Stolt in tank container sale rumour

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JANUARY 9, 2004
So. Cal. agency eyes more projects Agency that built $1.4 billion intermodal rail corridor wants to leverage its expertise to help move goods in the region. Cosco eyes more U.S. service, hubs China's leading shipping line expands capacity, wants to buy more American terminals. Hamburg Süd revises U.S.-Asia route Carrier expanding capacity and port coverage on service linking West Coast and Asia. Port of Portland resumes box handling after winter storm Rotterdam to check for 'dirty bombs' Canada maritime asks for gov't. security aid India to speed up cargo clearance Continental adds fuel surcharge Jones new chairman of NCSC New firm focuses on trade security TPG to add five jets to Europe network FMCSA won't rule in chassis case In surprise move, Hong Kong to add terminals

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JANUARY 9, 2004
Volume surge expected as PSA chases further customer JV's PSA Corporation expects to sign more joint ventures with its customers and is expanding its handling capacity over the next few years to meet that demand. APL, PIL and Zim in talks to launch Asia/Australia joint service APL, Zim and Pacific International Lines are considering the launch of a joint Australasia/Taiwan and China service, an APL spokesman confirmed today. Second contract for Bechtel in Umm Qasr rebuilding Hupac seeks rail terminal to integrate the Betuwe Line Up to three JNPT bidding consortia face disqualification Hamburg Süd revises West Coast Americas service Hangartner offers Domodossola/Karlsruhe intermodal service Automation benefits stacking up at ECT East-west box traffic boosts Marseilles to increased year-end Weather delays pesticide-container salvage efforts

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JANUARY 9, 2004
Jail looms for Odfjell duo Execs Sjaastad, Nilsen to trade Norway winter for Florida prison camp as early as Monday. US lowers alert status Threats diminish but Ridge is "still concerned." Oops! Worldscale Association admits goof on some 2004 tanker deals. CSDC plots huge newbuilding spree Chinese owner to focus on expanding tanker and bulker fleets in next seven years. Petronet LNG to list in February Indian LNG importer and ship charterer to launch IPO. Investors back Thoresen and Precious Thai bulker owners see shares increase in value in booming market. Jinhui orders handymax Hong Kong owner grows fleet with bulker newbuilding in bid to raise income. SK Shipping probe alleges tax evasion Korean prosecutors claim Son Kil-sung's company failed to pay up after accounting irregularities. Philippine yard in a hurry over ferry Babcock Marine hires more workers to finish off newbuilding for Dutch owner. Daewoo Securities upbeat on Hyundai Mipo Finance house finds South Korean mid-sized yard "most attractive" from a valuation perspective. Queen Elizabeth names QM2 British head of state names only second Cunard transatlantic liner in 37 years amid tight security. Halter dampens ST Marine results Modest profit increase but underlying performance dogged by continued problems with US acquisitions. Ferry nice for A&P Seasonal maintenance work and conversion project keep UK ship repair group's yards busy.

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JANUARY 9, 2004
China Shipping Container Lines to become limited-liability company CKYH alliance cancels transpacific sailings after Chinese New Year Maersk Sealand considers Pacific capacity cuts after Chinese New Year MarAd approves scrapping of U.S.-flag containership U.S.-flag Great Lakes carriers implement ship security program FedEx adds S. Korea flights, extends drop-off times Pacer International files equity issue statement Vexure promotes Liantonio to senior vice president Exel opens office in Argentina Trade associations issue 'Big Bang' white paper on textile quotas U.S. soybean shippers worry about rust outbreaks from trade U.S. commission to determine harm from imports to domestic shrimpers U.S. Department of Agriculture rejects California olive growers' trade assistance request U.S. imposes dumping, subsidy duties on concrete steel wire imports Singapore throughput rises 8% to 18.1 million TEUs Marseilles-Fos reports 3% box traffic gain