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Shipping News

Royal Caribbean upbeat on outlook after Q2 profits jump
NORWEGIAN-American cruise line Royal Caribbean Cruises posted a sharper gain than expected in second-quarter profits, helped by higher prices, and hiked its 2004 earnings guidance.
Mitsui OSK seeks to reduce costs further
SINCE 1998, when an extensive cost cutting drive started, Mitsui OSK Lines saved almost US$400 million in its container operations.
Mitsui OSK sets up new NZ subsidiary
MITSUI OSK Lines president Akimitsu Ashida has announced the setting up of a new subsidiary Mitsui OSK Lines Ltd, from Aug 1.
Tanker catches fire in Indian Ocean
A Singapore-registered petroleum tanker, Setia Jaya, caught fire in the Indian Ocean earlier this month, killing five crew members and leaving one missing, the Maritime and Port Authority of Singapore said late yesterday.
TANKER RATES
FREIGHT rates for very large gas carriers, the biggest ships that carry liquefied petroleum gas, rose last week as near-record Opec oil output boosted exports of gases made from refining crude.

Air and Land Transport

Airline traffic may grow more than expected in 2004
AIRLINE passenger traffic on international routes may grow by more than 10 per cent in 2004, more than forecast earlier, helped by economic growth, an airline trade group said.
Ghana Airways service to and from US stopped
India's Kingfisher to buy 12 A320 jets
Valuair to add 2 planes to meet rising demand
Thai Airways to buy 14 planes by 2010 in route expansion plan
US Airways profit soars but deep cuts still needed

web site

Shipping News

Royal Caribbean upbeat on outlook after Q2 profits jump
NORWEGIAN-American cruise line Royal Caribbean Cruises posted a sharper gain than expected in second-quarter profits, helped by higher prices, and hiked its 2004 earnings guidance.
Mitsui OSK seeks to reduce costs further
SINCE 1998, when an extensive cost cutting drive started, Mitsui OSK Lines saved almost US$400 million in its container operations.
Mitsui OSK sets up new NZ subsidiary
MITSUI OSK Lines president Akimitsu Ashida has announced the setting up of a new subsidiary Mitsui OSK Lines Ltd, from Aug 1.
Tanker catches fire in Indian Ocean
A Singapore-registered petroleum tanker, Setia Jaya, caught fire in the Indian Ocean earlier this month, killing five crew members and leaving one missing, the Maritime and Port Authority of Singapore said late yesterday.
TANKER RATES
FREIGHT rates for very large gas carriers, the biggest ships that carry liquefied petroleum gas, rose last week as near-record Opec oil output boosted exports of gases made from refining crude.

Air and Land Transport

Airline traffic may grow more than expected in 2004
AIRLINE passenger traffic on international routes may grow by more than 10 per cent in 2004, more than forecast earlier, helped by economic growth, an airline trade group said.
Ghana Airways service to and from US stopped
India's Kingfisher to buy 12 A320 jets
Valuair to add 2 planes to meet rising demand
Thai Airways to buy 14 planes by 2010 in route expansion plan
US Airways profit soars but deep cuts still needed

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Tianjin aims to handle 200m tons of freight this year Famous Pacific Shipping relocates Xiamen office CSX posts US$119 million Q2 net earnings Canada Border Services to install cargo inspection systems 'Jakarta New Port' to be completed by 2010 SITC to launch new service to Korea Soaring demand in H1 for newbuilds takes Hyundai by surprise GAC appoints new regional logistics manager for Middle East Cargo traffic rises 13pc in H1: IATA DHL opens new logistics centre in Japan China Southern launches Zhengzhou-Seoul service Shenyang airport sees influx of imports from Germany

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Jaisu Shipping to begin dredging in Iraq port soon Global cashew prices on the upswing Adani group plans to acquire 74 pc stake in Petronet's Dahej dry cargo port project CONCOR's ICD-Raipur commissioned, declared open to ex-im trade CONCOR signs deal with Apeda to transport perishable produce in reefer containers CONCOR's ICD-Ankleshwar likely to be operational by August 15 3-pronged approach to revive technical textile sector mooted Internal reforms vital to benefit from FTAs, says Ficci Govt to set up free trade warehouses for exports DGFT: DEPB sops for steel exports suspended only from July 12

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JULY 29, 2004
Oil prices ease as Yukos oil sales continue No immediate threat to Yukos oil sales, but core production unit is not safe from bailiffs. Valero more than doubles Aruba bunker sales US refining giant's refinery changes in Aruba propel bunker sales following El Paso acquisition amid record company profits. Saudi production hike swelling fuel oil supplies Surge in Saudi production since June has softened prices for Arab heavy crude against higher-quality light crude. End-of-month trade brings firmer prices in Tokyo Genoa still bearing the brunt of Italian demand Singapore IFO180 avails tightening, terminals congested Rising MGO prices scaring off independent suppliers looking for blending stocks, leaving IFO180 avails tight. Hong Kong sales 'down 20%' as OPL ban reaches 2 months No word from authorities on alternative OPL plans as suppliers reflect on long-term prospect of significant drop in sales. Rotterdam a bit firmer amid continued congestion Suppliers accuse buyers of 'unreasonable' debunkering Suppliers claim some owners are exploiting the system in making unreasonable debunkering claims. Argentina: Force majeure on barge deliveries Local barge operator declares force majeure on deliveries due to strike. Thai oil bridge 'more costly' than Straits shipping Report shows that the proposed Thai oil land bridge would make oil transhipment more costly than the existing shipping route through the Malacca Straits.

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JULY 29, 2004
Spain to host aviation industry's routes conference Dnata launches new IT ground handling system USA and Indonesia sign open skies agreement Kuehne + Nagel reports increased turnover and profitability SFM-Railion Italia blows whistle for first train Cathay Pacific and Lufthansa offer new freighter service Kadmar extends services to Syria Claudio Meier to head new Ziegler branch

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JULY 29, 2004
Explosion on Singapore-flag tanker kills six Equasis goes from strength to strength Tidewater revenue and profit dip

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JULY 29, 2004
OSG earnings soar Kvichak delivers first yacht hull Kirby reports record earnings, plans newbuilds Tidewater reports profitable quarter

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JULY 29, 2004
Port of Vancouver, BC posts gains for half year Corps holding public meeting to discuss Columbia jetty repairs Boeing sees improvement in second quarter earnings Neptune Orient Lines delivers strong quarter Port of Piraeus, Greece newest member of CSI

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Lloyd's axes war risk ratings as EU toughens competition law LLOYD'S and the London market have ended one of their historic services ' providing guidance on cargo rates in areas deemed to be subject to war risk ' as a result of concerns over the increasingly tough insurance regulatory environment. Shell hit with $150m fines but markets see positives ROYAL Dutch/Shell has been hit by fines of more than $150m levied by US and British regulators, following investigations into its overstatement of reserves earlier this year. Deal turns GNV from prey to predator PRIVATE equity firm Permira is to buy Aldo Grimaldi's Grandi Navi Veloci in a '522m ($621m) deal that looks set to spur further consolidation in the European cruise-ferry market. Intertanko updates vetting questionnaire INTERTANKO has launched a revised edition of its all-embracing ship vetting questionnaire which it developed in co-operation with Fritz Heidenreich's Q88.com. Docker Daggett arrested by FBI A senior longshoremen's union official was arrested by the Federal Bureau of Investigation this week on charges that he is linked to organised crime, writes John McLaughlin in New York.

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JULY 29, 2004
Grandi Navi Veloci sale completed GRIMALDI Holdings has completed the sale of ferry operator Grandi Navi Veloci to Vento SpA, a special-purpose vehicle in which London-based private equity investor Permira holds an 80% stake Chiquita leaves LB for Hueneme CHIQUITA Brands International will relocate its US West Coast port operations from Long Beach to the Port of Hueneme, 80km north of Los Angeles Top dockers arrested in Mafia link THE FBI yesterday arrested one of the International Longshoremen's Association's top officials on charges of ties with organised crime and alleged corruption Costa fixes Ancona COSTA Crociere has chosen Ancona as its main transit and boarding port on the mid-Adriatic coastline for the 2005 season cruises Maher to run Rupert box terminal PRINCE Rupert Port Authority has chosen Maher Terminals of New York to operate the Canadian port's first container terminal Poole to deepen entrance channel THE UK south coast port of Poole is looking to invest '8M ($15M) over the next three years to deepen its entrance channel and provide new facilities Royal Caribbean results sharply up Lianyungang berth investment Politics may prevent Sunrise Indian firm to dredge Umm Qasr New stakes on meat service GenMar positioned to soar Bolivian gas not through Chile Adani chosen to operate cargo port Dirty hold led to food poisoning Severstal eyes new Busan facility

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JULY 29, 2004
Breakthrough in WTO ag subsidies Industrial nations agree to cuts in farm aid, improving outlook for global trade agreement. Congress to consider 9-11 panel's cargo recommendations Report shares representatives' concerns about weaknesses in cargo security. Intermodal boosts Pacer profit CP Rail earnings soar Turnaround for Kansas City Southern Ex-Im Bank's Foley to keynote JoC Breakbulk Conference Mega-port plans for Fujian S&P cuts Northwest Airlines' debt ratings Karachi throughput up 13 percent Monsoon flooding slows Bangladesh boxes Panel checks China's WTO compliance Eller appoints president and CEO

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JULY 29, 2004
HHLA denies ground movement is causing CTA automation failures Management at Hamburg's state of the art facility, Container Terminal Altenwerder (CTA), are denying reports that the terminal has severe operational problems caused by the settlement of reclaimed land. DAL withdraws from troublesome West Africa trade The Hamburg-headquartered niche carrier Deutsche Afrika-Linien (DAL) has announced that it is withdrawing from the northern Europe-West Africa trade, with immediate effect. Soaring crude oil price puts pressure on rates HNN hope scaled down WCT will tip vote in its favour CSG to build five berths at Lianyungang Four line up for Newcastle terminal More new vessels are coming in place MOL establishes own New Zealand agency Domestic bliss for Italian intermodal operator Correction: No Beilun Phase IV bid by HPH

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JULY 29, 2004
O -- MI !!! Shares of Connecticut's OMI Corp have been running amok in Manhattan. Top tops IPO price Shares break $11 for first time since last week's initial public offering. Fast ferry design attacked High speed craft that grounded at 38 knots during sea trials had poorly planned bridge warns MAIB. Ship sales hits Exmar Charterback deal takes a big bite out of gas carrier owners' profit. Better by half OSG is latest tanker company to earn more in first six months of 2004 than in any prior full year. Bomb captain loses civil plea Federal judge rules master of Cenk Kaptanoglu will face criminal charges. Permira finally buys Grandi Navi Veloci Aldo Grimaldi quits shipowning with $628m sale of cruise ferry line to venture capital fund. Good times at Keppel Further earnings growth expected as rig and ship-building division beats contract record. Box rates bolster Samudera Singapore-listed line increased profit in first half as container freight levels jumped. Russia to sell ports Four top gateways earmarked for sale in new privatisation round. Fortum sells and charters Finnish owner offloads tanker in Norway, but will charter it back for a year. Arkas plans port Turkish boxship player is lining up cash to build terminal near Izmir. CSAV serves up profit Chilean container line boosts bottom line by 77% in first half of 2004. SKL inks more coal contracts Singapore's Sembawang Kimtrans extends Indonesian coal hauling contracts with Banpu deal. MOL creates agency in NZ New Auckland office will replace longstanding contract with Seatrans. Profits up 16% at Kirby Strong petrochemical and black oil products volumes help lift major US inland barge operator. Tanker explodes off Sri Lanka Six crewmen reportedly killed in incident aboard Singapore-flagged handysize chemical carrier. Tidewater makes poor start First quarter net profits slip almost 30% at world's largest offshore support vessel company. TMM dips into the red Mexican owner hammered by financial expenses in first half, despite operating improvement.

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JULY 29, 2004
Trailer Bridge proposes to buy K. Corp. for $32 million U.S. prepares for mandatory ballast water management Columbia Coastal names Castro as group CFO NOL reports boost in 2nd-quarter earnings CSX second-quarter net earnings down $8 million FMC reviews five OTI applications, revokes 12 licenses Maritime groups partner on Mississippi River ship reporting USTR plans hearing for China WTO compliance Clinton questions Bush homeland security priorities Tibbett & Britten Americas names Jaime White Mexican unit president Schenker tightens global coordination of project cargo moves Customs agencies add x-ray screening systems at ports Yusen Terminals names Hall senior VP of Los Angeles terminal