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NOL steams ahead with 13% jump in Q3 profit
SURGING transpacific cargo volumes, tight capacity and healthy freight rates have combined to lift Neptune Orient Lines third-quarter net profit to US$234 million, a 13 per cent rise over the same period last year.
Box inspection target would worsen US congestion: APL
PROPOSALS by US lawmakers for inspections of 10 per cent of the nine million inbound containers at US ports would be costly and further worsen delays already plaguing West Coast ports, according to a senior APL security executive.
Star shares soar as cruising picks up
SHARES of Hong Kong-listed Star Cruises have seen some heightened activity lately signalling partly the reviving fortunes of the cruise business in Asia which was hit badly by the Sars outbreaks.
Fuel surcharge imposed
Maersk plan to shift HQ angers US union
World's largest crane for UAE

Admiralty Casebook

HK court rules barge a ship
CAN a barge used to transport cargo be considered a ship and be arrested in an admiralty action? Yes, said the Hong Kong High Court last month, as long as the barge displays the key characteristics of a ship and is used for navigation.

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Shipping News

NOL steams ahead with 13% jump in Q3 profit
SURGING transpacific cargo volumes, tight capacity and healthy freight rates have combined to lift Neptune Orient Lines third-quarter net profit to US$234 million, a 13 per cent rise over the same period last year.
Box inspection target would worsen US congestion: APL
PROPOSALS by US lawmakers for inspections of 10 per cent of the nine million inbound containers at US ports would be costly and further worsen delays already plaguing West Coast ports, according to a senior APL security executive.
Star shares soar as cruising picks up
SHARES of Hong Kong-listed Star Cruises have seen some heightened activity lately signalling partly the reviving fortunes of the cruise business in Asia which was hit badly by the Sars outbreaks.
Fuel surcharge imposed
Maersk plan to shift HQ angers US union
World's largest crane for UAE

Admiralty Casebook

HK court rules barge a ship
CAN a barge used to transport cargo be considered a ship and be arrested in an admiralty action? Yes, said the Hong Kong High Court last month, as long as the barge displays the key characteristics of a ship and is used for navigation.

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Container manufacturer reports tripled earnings in Q3 MCL granted Class A Licence APL security expert against inspecting more containers Tianjin imports more orange juice New AADA bunker surcharge to be levied Exel record strong 3Q growth Hapag-Lloyd's EEX service to link UK to Turkey PONL CEO credits people as key to company's success Dragonair adds flights to Shanghai DHL confirms Brussels operations to be halted China Southern Q3 net profit falls 45.49pc IATA reports increase in traffic but more efficiency needed

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Baalu to open workshop on 'Policy for Maritime Sector' today Dragon Shipping wins accolades at Senator Lines' global agents meet India should develop arbitration mechanism: ICC chief Crude imports rise by 12.5 pc in Sept. Rise in export of dairy products projected Project report on Gangavaram port to be ready soon Kandla Port sets new single day cargo handling record on Oct. 26 Core sector registers 5.7 pc growth in April-Sept. D. T. Joseph may be Chief Secy, Govt of Maharashtra Latest on-board weather system to be launched at Seatrade Dr Rakesh Mohan appointed finance secretary CII to hold logistics, export meet in Hyderabad on Nov. 5-6

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OCTOBER 28, 2004
Royal Dutch/Shell proposes unification After nearly a century as separate holding companies, the oil major proposes to end 40:60 and unify boards. Fall in Singapore's onshore residual stocks 'misleading' Regional cargo moves push Italian gas oil sharply lower Singapore fuel oil values fall from record highs Traders hope lower prices will spur bunker demand. High numbers depress Tokyo enquiry levels Slow price movements have left fuel oil unattractive to buyers, while distillates prices are competitive. Rotterdam barge market a tad firmer at noon Canada proposes ultra-low sulphur limits on marine diesel Europe - US arb closes on high freight and blending costs Surging freight rates and high blending costs close the Europe to US arb despite a wide price differential between European and US markets. Crude oil prices continue to plunge US light crude on the New York Mercantile Exchange (Nymex) continues losses in after-hours trading after yesterday's huge price plunge.

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OCTOBER 28, 2004
Alcatel to modernize Romanian railways For sale: Slovakia's freight railway Kuehne + Nagel: sale of stake in SembCorp Logistics Conliner service to Hupac Unitpool appoints Airbase for ULD repairs EEX service links Great Britain and Turkey Northwest Airlines elects president as CEO

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OCTOBER 28, 2004
Baltic to keep Singapore assessment Exmar and Golar set up JV Tallink orders cruise ferry at Aker Maersk move plans anger US union Fred Olsen companies' revenue up Fairmount and Semco form towage pool Shiprepairers to talk insurance Is the UK a flag of convenience?

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OCTOBER 28, 2004
International Shipholding sees tax savings ahead Star Cruises adds fuel surcharge Cruise ferry order for Aker Finnyards Exmar and Golar in LNG joint venture New Orleans to get more cruise ship capacity Ex-Im Bank and MARAD sign MOU

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China interest rate shock Nippon Steel Corp managing director and chief financial officer Nobuyoshi Fujiwara revealed yesterday that Japan's biggest steelmaker has raised its full-year profit forecast 12% as huge demand from China helps the company boost prices to vehicle makers and other customers. Golar and Exmar tilt at short-term LNG market A long-awaited tie-up between Exmar and Golar LNG has arrived with a joint venture to combine part of their open liquefied natural gas shipping capacity. Aegon poised to withdraw from container leasing business Dutch financial services giant Aegon is negotiating the sale of one of the world's largest maritime container leasing businesses, with assets of more than $1bn, writes Tony Gray . Ship agents launch global alliance SIX leading regional ship agency firms are setting up a new company able to handle the global accounts of tanker, bulker, container, cruise and naval fleets. Lines seek rate rise on depressed Atlantic A LEADING group of transatlantic container lines will try to restore freight rates on the very depressed eastbound leg with four price rises planned for next year, writes Janet Porter.

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OCTOBER 28, 2004
Star Cruises slaps fuel surcharge ASIAN cruise operator Star Cruises has introduced a fuel surcharge for cruises in the Asia-Pacific following the rise in global oil prices Agencies to challenge top three SEVEN regional shipping agencies have formed a new venture, S5 Agency World, in a move aimed at staving off the growing domination by the three existing global agencies ZIM shows interest in Black Sea ISRAEL-based operator ZIM says it is interested in starting new container routes in the Black Sea and considers Constantza the most adequate regional port for box transport Japan pulls Philippines funding JAPAN is to withdraw a considerable amount of money it had intended to finance a Philippines domestic fleet renewal programme Weather disrupts Irish Sea ferries A NUMBER of Irish Sea and English Channel ferry services were cancelled or delayed and a Stena ferry suffered damage yesterday in severe weather conditions Danes target UK-Belgium link Suezmaxes drive GenMar profits Minerals good fortune for Rupert Finnlines ups the ferry ante Scrap boxes held up in India Personal accidents up says P&I club Australian LNG to the US Spain lifts cruise ban FMC grants NVOCC contract bid EU sets tariff in banana drama

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OCTOBER 28, 2004
Industry facing capacity challenges Capacity limitations both at sea and shoreside are one of the biggest problems facing breakbulk shippers and carriers. UPS boosts rates, cuts fuel charge NOL nearly doubles profits Trans-Atlantic lines plan 2005 rate hikes Lines shipping empty boxes to meet China demand Canada tweaking border shipping program Hanjin calls avoid LA-Long Beach Maersk Sealand: Teamsters' allegations 'wrong' Panama Canal sees more tonnage, ships Kansas City Southern 3Q profit rises Poultry exports to China dive

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OCTOBER 28, 2004
Koper looks at local growth rather than regional domination Slovenian port operator Luka Koper has vowed to put its ill-fated Italian venture aside and concentrate on building container traffic through the Port of Koper. Soaring fuel costs trigger Russian rate rises Fesco announced that an increase of US$172 to US$206/TEU will be imposed as a southbound emergency fuel adjustment factor for the North American to Australia/New Zealand routes, from December 15. Higher demand and new capacity sees NOL profits spiral Canadian railways report strong Q3 intermodal growth New agency JV says it will offer local knowledge globally Northport hauliers continue electronic data input duty Rail Cargo Austria looks for Euro partners Congestion buster: Canada's Prince Rupert ready to serve Midwest Volume growth sees Odessa plan for the future

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OCTOBER 28, 2004
Neptune Orient profit soars Singapore liner operator is upbeat about prospects of continued cargo growth. Atlantic lines to hike rates The TACA conference aims to combat rising costs by increasing freight rates for a 20ft box by $640. Kruse takes the reins at HAL 30-year veteran Kirk Lanterman relinquishes his last executive title. Navibulgar sell-off on Bulgarian government approves privatisation plan for national fleet, which has announced big profits. Olsen plans $15.7m bonus Booming shipping market set to lead to double dividend for Bonheur and Ganger Rolf shareholders. Class action hits Stolt Offshore Another company in the beleaguered Stolt-Nielsen group is under legal fire on a new front. US ruling favours APL Majority state control of APL will not interfere with the liner company's pricing. Coscol continues to climb Surge in third quarter revenues drives profit growth at expanding heavy-lift and ro-ro Cosco unit. Sun shines for Samudera Company makes more money in third quarter than entire first six months. Exmar excels Company posts 80% rise in profits though LNG ship Excalibur remains a worry. ABS goes to Doha US class society eyes more LNG business as it sets up regional headquarters in Qatar. Exmar and Golar team up on LNG Firms hope new venture's offer of contracts of affreightment will attract more work. Tallink seals ferry order Estonian group finally decides to go ahead with optional $210m ship at Aker Finnyards. Huarun Dadong expanding fast Chinese shiprepairer boosts vessel turnover by 22% in first three quarters, as it adds capacity. Genmar piles on the profits Peter Georgiopoulos' listed-tanker arm sees a near eight-fold increase in third quarter profits. Kirby sets record US barge giant posts best nine-month profit despite ravages of Hurricane Ivan. Kilstraum in sub collision No injuries reported as small chemical tanker has a close encounter of the submarine kind. APL slams inspection rate Increased physical inspection of containers will increase costs and delays without boosting security, says liner firm. Double Indonesian attack Asia's piracy black spot back in the headlines as boxship and bulker are subjected to separate ordeals. Thor R raised Dutch salvors finally lift holed trailer suction dredger from entrance to Danish port of Esbjerg.

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OCTOBER 28, 2004
Pacific carriers to announce eastbound rate increases Teamsters to picket Maersk Inc. headquarters APL warns against large-scale U.S. physical container inspections FMC votes to propose rule allowing NVOs to offer service 'arrangements' Baltimore wins long-term commitment for Mercedes imports

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OCTOBER 28, 2004
Tallink orders third cruise ferry Tallink Grupp has ordered a 48,300-GT cruise ferry from Aker Finnyards. The vessel will be delivered during spring 2006 ... Swedish submarine on time charter to the US Navy The Swedish Government has approved a time charter arrangement for a Swedish "Gotland"-class submarine to the US Navy. The ... Chemcarrier hits submarine The Norwegian chemical oil carrier "Kilstraum" of 4,700 DWT was hit by a the Norwegian submarine "Utstein" west of Scotland ...