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SMEs to gain $55m from MPA initiative
REPORTS A group of 70 small and medium-sized enterprises in Singapore's maritime industry expect to reap nearly $55 million in new business and cost savings as a result of a year-old initiative by the Maritime & Port Authority of Singapore.
Grant cuts Eagle Liner's staffing costs by 20%
FOR local maritime SME, Eagle Liner Shipping Agencies, a Merit grant helped reduce staffing costs by 20 per cent and increased the quality of management and financial information produced.
Court to assess US law's global reach
THE US Supreme Court was expected yesterday to test the power of US law to reach across borders, in a case that asks whether foreign-registered cruise ships must comply with the nation's stringent disability law, according to a report in the Financial Times.
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Strait Talk

Fulfilling Panama's untapped potential
SOMETHING truly remarkable happened last week. The International Transport Workers' Federation , the scourge of the open registers, praised a new initiative by the world's biggest open register, Panama.

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Shipping News

SMEs to gain $55m from MPA initiative
REPORTS A group of 70 small and medium-sized enterprises in Singapore's maritime industry expect to reap nearly $55 million in new business and cost savings as a result of a year-old initiative by the Maritime & Port Authority of Singapore.
Grant cuts Eagle Liner's staffing costs by 20%
FOR local maritime SME, Eagle Liner Shipping Agencies, a Merit grant helped reduce staffing costs by 20 per cent and increased the quality of management and financial information produced.
Court to assess US law's global reach
THE US Supreme Court was expected yesterday to test the power of US law to reach across borders, in a case that asks whether foreign-registered cruise ships must comply with the nation's stringent disability law, according to a report in the Financial Times.
Marine showcase

Strait Talk

Fulfilling Panama's untapped potential
SOMETHING truly remarkable happened last week. The International Transport Workers' Federation , the scourge of the open registers, praised a new initiative by the world's biggest open register, Panama.

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PSA completes purchase of HK port assets TMM Lines launch new link between Central America and Asia Tianjin trade value increases by 50pc in January Co-operation needed for world trade to flourish, says NOL boss Famous Pacific Shipping opens new Brisbane hub MOL conducts safety checks on fleet, cargo operations AA to launch new Sino-US air service K+N, KLM offer cold freight monitoring solution Continental reaches tentative agreements with staff Pulkovo appoints AirRep Cargo Europe as sales agent

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World Cargo Alliance to establish branch office in Mumbai National Maritime Day on April 5 AP hopes to export 1,000 t mangoes 'Wagon investment scheme' to ensure availability of rakes CONCOR's ICD-Pithampur may soon handle 1,200 export TEUs a month Railway Ministry to sound MoF on offloading 10 pc stake in CONCOR AIAI welcomes cut in LPG freight rates Apparel exporters' demand not addressed: CIAe Record onion output in offing Finance Minister maroons exporters in sea of challenges Fieo unhappy over Finance Minister's silence on amendment to Sec 28 CII spots innovative, growth-promoting features Customs duty reliefs will provide the cutting edge to meet competition'AIEMMA MAIT sees a problem addressed AIEC chief lists positive features IMC feels industry deserved better Budget disappoints leather exporters AIAI backs customs duty cut on capital goods PDEXCIL hopes Budget will strengthen textile industry More items to be taken off reserved list IMC hails rail Budget FM to address Ficci, CII EU Chamber to discuss Budget proposals today

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MARCH 1, 2005
Supplier streamlines business with MERIT Programme A year after launching the Maritime Enterprise IT Development (MERIT) Programme, the Maritime and Port Authority of Singapore has reported good response, and held up one of Singapore's top 20 bunker suppliers as an example of how businesses can benefit from the initiative. Suez receives surprise respite Following more than two months of no fuel oil avails, players remain worried that shipowners who have deserted Suez during its long drought will still shun the port. IBIA opens Asian regional office in Singapore Recently elected chairman highlights importance of presence in the world's largest bunkering hub, where the port authority has pioneered improving standards for the bunker industry. Uruguay: Limited avails continue ARA market little changed this morning Winds force suspension of operations in Gibraltar With bad weather persisting, delays in delivery schedules could see operations affected until the weekend. Hong Kong player set for further expansion and increased sales Following the acquisition of a new barge earlier this year, Hong Kong supplier reveals that another double-hull is expected towards the end of 2005. Crude oil little moved after touching four-month high Cold temperatures in the northeast region of US led to the crude oil prices touching a four-month high. Prices are expected to remain high for the rest of this year. IMO: Regulations on fuel tank location expected by 2007 New regulations aimed at minimising the risk of a serious environmental disaster in the event of a grounding or collision are expected to enter into force in 2007.

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MARCH 1, 2005
First seaport conference to be staged in Hamburg G-Log automates transport calls to tender USA: Fighting about Kentucky truck weight bill Brenntag opens new distribution centre in Lancaster, TX ICF: new shuttle trains via the Sopron hub KLM UK to change Schiphol handling agent Enhanced Safari service for Safmarine DPWN mourns loss of former board member

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MARCH 1, 2005
NOL: "Congestion to push up rates" TMM Lines launches new service Camillo Eitzen reports tenfold profits rise "Market consolidation" hint in Golar result Brittany Ferries pulls out of P&O Ferries deal

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MARCH 1, 2005
Maersk Line takes over USSM ships More Chinese orders for MAN B&W Rochester gets fast ferry Silver Bell for CMA

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Golar sees opportunities in weak LNG spot market GOLAR LNG expects the spot market for LNG carriers to stay weak for up to two years, creating opportunities for consolidation. Golar expressed this view in its fourth quarter results, which showed a rise in net income to $19.1m from $13.93m in the like period of 2003. Diana Shipping seeks to pocket $242m from New York listing AN INITIAL public offering that could raise $242m has been launched by Diana Shipping, the Greek dry bulk group, which is seeking a listing on the New York Stock Exchange. Cargill relocates to exploit Chinese market CARGILL Ocean Transportation is pulling out of Hong Kong and Tokyo and will set up a regional hub in Singapore and an office in Shanghai to be closer to the key Chinese market. Booming boxship cycle shows no sign of slowing LINER shipping may be entering a "super cycle" that is frozen at the high point, according to Drewry Shipping Consultants. Rebel chairman dismissed as Latvian Shipping split deepens A DRAMATIC boardroom civil war has escalated at the Latvian Shipping Company with the dismissal of chairman Imants Vikmanis after he stormed into the Riga headquarters with rebel directors and denied access to the existing board, writes Jerry Frank.

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MARCH 1, 2005
Maersk takes over MSP slots UNITED States Ship Management has raised the white flag in its years-long battle to retain slots in the US Maritime Security Program fleet Ukraine reconsiders pipeline flow Golar LNG: spot market tight Diana continues IPO parade Euro Coastguard angers EU members US trade estimates increased Volgotanker to move to Astrakhan Cosco drops Port Said for Naples Cracks in cranes halt LA cargo work Romania-Italy pipeline proposed Camillo forecasts good year

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MARCH 1, 2005
Asia containerized imports to slow Growth will moderate over the next two years due to increased costs of production in the Far East and sluggish consumer demand in the U.S., say experts. Expected growth demanding creative port solutions Maersk wins control of MSP ships DHL loss to hit $660M TMM expands Asia-C. America link CSXI to hike fuel surcharge Grant for Texas port rail expansion Turnaround buoys Lufthansa profit Diana Shipping files for IPO

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MARCH 1, 2005
China growth and globalisation may not mean 'extended' stability, warns NOL president Growth in China and the globalisation may not lead to an 'extended period of stability' warned NOL president and CEO David Lim yesterday, at the fifth annual Trans-Pacific Maritime Conference. Vancouver walkout threat over security checks 'a sleeping dog' Location for CT10 not fixed by Hong Kong Government Equipment shortage stifles PN's intermodal growth Drivers over 60 banned from renewing commercial driving licence in China Lunar New Year timing lifts HK January trade performance North-West Russia ports set out their investment stands in London RCL takes on new sub-panamax tonnage for Asia-Australia trade CP partners start new Central America-Asia service Leixoes with new equipment to handle increased volumes Dong Young to launch Korea/Japan service

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MARCH 1, 2005
Tropical leaps by 68% US-owned Tropical Shipping may find better things to do with $134m than pay taxes on it. Frontline dials down Fredriksen vehicle cuts Genmar stake to 5.3% from 7.9% over past week through sale of 900,000 shares. Vikmanis hits back Latvian Shipping chief states his case in battle of rival boards, both of whom claim to be running Riga-based owner. Stolt execs sell shares Niels and Jacob among those now free to dispose of stock, after insider restrictions lifted. Gearbulk deal in arbitration Westwood Shipping is fighting to hang onto two Borgestad open-hatchers. Borgestad rebuilds Norwegian owner posts more profits after 2003's annus horribilis. New man at HSY George Paterakis appointed head of Greece's Hellenic Shipyards of Skaramanga. Scrap sales get off to slow start Two-monthly sales totals down on last year's already slack levels as tonnage drought continues to haunt breakers. Diana heads for NYSE IPO debutante Simeon Palios is targeting $242m for Diana Shipping. USSM bows out United States Ship Management has handed over its fleet to rival Maersk. Another panamax for Golden Spinoff confirms another panamax charter for later in the year, as it posts first financials since incorporation. Eitzen in the money Norwegian owner Camillo Eitzen's expanded fleet of gas carriers, tankers and bulkers delivers the goods in 2004. The battle for Latvian Shipping Bizarre struggle for control of national fleet sees directors locked out of Riga head office after rival board "breaks in." PacBasin breaks $100m mark Profits and turnover rise fourfold for Hong Kong-based drybulk company. CSDC banks boom proceeds Hong Kong-listed tanker and bulker owner's 2004 profits grow in strong markets. Brittany scraps P&O deal French owner will not charter two UK ferries on Portsmouth-Le Havre route, putting 350 jobs at risk. Golar scrapes earnings rise But Korea Line is mainly to thank as company sees 'challenges' ahead. The France for the French? France is offering tax breaks in a last-minute bid to save a historic cruiseship from scrapping. Cargill China bound Shanghai and Singapore are the winners as Swiss grain trader changes transportation set up in Asia. Expansion boosts Samudera Singapore shipowner sees six-fold increase in annual profits on bigger fleet and hot box rates. Titan plans bond issue Parent company wants to raise $400m for ship acquisitions, China facilities and to repay debt.

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MARCH 1, 2005
NOL: Congestion will prolong upward pressure on rates TMM, Lykes to provide Asia/Central America link via Mexico hub Safmarine, Maersk Sealand finalize revised Asia/South Africa link Maersk Sealand adds online "control center" WITASS adjusts fuel surcharges, drops Jamaican congestion levy Horizon Lines restarts U.S./Puerto Rico shuttle FMC updates service fees Samskip takes delivery of new ship Deutsche Post posts 2004 profit DHL expands Moscow airport terminal Air New Zealand contracts with Atlas for freighter service UP bypasses Los Angeles ramps to cut road congestion S&P places Yellow Roadway on negative CreditWatch UP elects Young to board U.S., EU reach agreement on American rice exports U.S. soybean shippers set trade agenda for 2005 Acting USTR chief heads to Kenya for WTO meeting Senate sets Jackson hearing date Global Insight acquires Reebie Hong Kong still reviewing site of future CT10 port expansion Georgia ports see 20.5% rise in January container throughput Melbourne gets first post-Panamax crane L-3 sells mobile X-Ray scanners to Italy

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MARCH 1, 2005
Golar LNG sustain losses in spot market Golar LNG still suffers from too many LNG carriers in the spot market and the company ' controlled by John Fredriksen ... Names for the Gulf ferries from Scandlines The former Scandlines ferries "Rügen" and "Dronning Margrethe II" is presently being made ready for the delivery voyage to the ... Star Reefers ahead last year Star Reefers more than doubled pre-tax profits last year from USD 5.19 million to USD 12.46 million last year ...