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Shipping News

Yusen's Q1 profit surges 27%
NIPPON Yusen KK, Japan's largest shipping line, said first-quarter profit rose 27.3 per cent as expanding trade between Asia, Europe and the US increased demand for sea freight and bolstered its shipment rates.
Ishikawajima's Q1 loss doubles on charge
ISHIKAWAJIMA-Harima Heavy Industries Co, Japan's third-largest shipbuilder, said its first-quarter loss more than doubled because of a one-time charge to write down the value of its assets to comply with new accounting rules.
Ship master jailed for excess alcohol
THE Ukrainian master of the UK-flag general cargo ship Hoo Tern has been sentenced to four months' jail for having excess alcohol in his breath.
Viet ship builder to raise US$500 million

Port Shots

Port Shots
A consortium of five companies is to study the standardisation of the interface between a secure container and data readers at ports and borders under a European Union-funded programme on security-related research projects.

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Shipping News

Yusen's Q1 profit surges 27%
NIPPON Yusen KK, Japan's largest shipping line, said first-quarter profit rose 27.3 per cent as expanding trade between Asia, Europe and the US increased demand for sea freight and bolstered its shipment rates.
Ishikawajima's Q1 loss doubles on charge
ISHIKAWAJIMA-Harima Heavy Industries Co, Japan's third-largest shipbuilder, said its first-quarter loss more than doubled because of a one-time charge to write down the value of its assets to comply with new accounting rules.
Ship master jailed for excess alcohol
THE Ukrainian master of the UK-flag general cargo ship Hoo Tern has been sentenced to four months' jail for having excess alcohol in his breath.
Viet ship builder to raise US$500 million

Port Shots

Port Shots
A consortium of five companies is to study the standardisation of the interface between a secure container and data readers at ports and borders under a European Union-funded programme on security-related research projects.

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OOIL net profit jumps to US$309 million in H1 Trucks begin moving boxes from Vancouver again Yangpu invests CNY400m on expansion Dredger pulls disappearing act at Melbourne's Phillip Bay Bond offering to help Port of Tacoma to save $19.2m US plans to curb Chinese clothing imports Integration of Ningbo and Zhoushan ports enters final planning stage EGL's net profit slips to $12.70m in Q2 Bax Global more than doubles capacity at Los Angeles Malaysia Airlines invests in human resources technology

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Far Shipping's service to Jebel Ali a major boon for exporters from S. India Ahoy! ECU-Line offers services from Sri Lanka GE Shipping takes delivery of newly-built PSV Mercator Lines raises Rs 3 bn for fleet expansion V. Ships Commercial ties up with Parekh Group in India Still-swamped Sahar ACC to cause staggering losses for ex-im community

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AUGUST 8, 2005
British Airways World Cargo: new management team in Europe Cosco Container Lines resumes direct calls at Le Havre Martinair to resume Colombo-Amsterdam flights Hupac post double-digit growth rate Pacer reports second quarter 2005 results

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AUGUST 8, 2005
Kleven adds to orderbook Kerr-McGee makes $3.5 billion North Sea exit

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AUGUST 8, 2005
Port of Tacoma saves millions with new revenue bond offering Customs' security measures now cover 70 percent of containers Coast Guard selects three for Celebrate Freedom honor Study finds Port of Olympia generating jobs, tax revenues Union Pacific names Portland Service Unit boss

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AP Møller-Maersk spends $3bn on Kerr-McGee North Sea assets Danish shipping and energy giant AP Møller-Maersk has brought spending on acquisitions in the last few months to almost $6bn with the purchase of most of Kerr-McGee's UK oil and gas operations for $2.95bn. Sea Containers to refocus ferry fleet SEA Containers plans to move up to half its fast car-ferry fleet away from North Europe and announce other changes by early October that could see disposal of part of its Silja fleet in the Baltic, writes Hugh O'Mahony. Wall Street awaits Seaspan IPO price THE longevity and strength of the recent wave of shipping company flotations in New York was expected to come into clearer focus yesterday, with New York Stock Exchange aspirant Seaspan due to price its initial public offering. Terrorist alert diverts more Israeli cruiseships away from Turkey TWO cruiseships carrying more than 1,600 Israeli passengers towards Turkey diverted to Cyprus yesterday because of security concerns, the second such incident in four days, Reuters reports.

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AUGUST 8, 2005
Australia agrees to APM/PONL merger AUSTRALIA'S competition watchdog says it will not oppose AP M&slash;ller-Maersk's acquisition of P&O Nedlloyd, following similar statements from the EU and US authorities Operators delaying boxship charters THE summer respite in the boxship charter market continues with liner operators holding back from commitments to further chartered tonnage New Australian LNG project WOODSIDE Energy is planning a new LNG project, with potential for annual production of up to 7M tonnes a year, in Western Australia Sea Containers to rethink ferries SEA CONTAINERS will make 'major changes' to its ferry division after being hit by heavy losses during the first half of 2005 Have your say! HUTCHISON Ports (UK) MD Richard Pearson blasted plans by Teesport to build a deep sea container port in the north. Is he right? Have your say! Ceres Amsterdam working at last CERES Paragon Terminal in Amsterdam handled its first vessel at the weekend after three years standing idle Connecticut ferry funds awarded Kuwaiti unveils refinery project Miami river blockage IOM Steam Packet interest revealed Iranian owners set up union Israel warns of Turkish port threat Algoma benefits from high demand Star wins India cruise approval Casitas refloated then scuttled No maritime damage as Matsa strikes

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AUGUST 8, 2005
Intermodal highlights rail gains Led by container and trailer traffic, U.S. railroads in July post second straight monthly traffic gains compared to the same 2004 month. TGA adds Asia-Europe loop New truckers' hours coming Miami bridge halts traffic Charleston hits TEU record Borrowing for Cosco, CSCL Asiana strike could hurt exports Revenue up at Trinity ICTSI revenues rise Landstar forms global unit

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AUGUST 8, 2005
Deteriorating fiscal conditions will shrink China's H2 surplus China's trade surplus is likely to drop about 24% from US$39.6bn to US$30bn in the second half of this year, said a report from the country's State Information Center (SIC). ACCC gives nod to Maersk's PONL buyout The Australian Competition and Consumer Commission (ACCC) has cleared the way for Royal P&O Nedlloyd (RPONL) to withdraw from a number of conferences, consortia and discussion agreements on Australian trades. MSC and Patrick in terminals joint venture Stark proposes major transport reforms FMC proposes amendments to NVOCC rules Experts recommend India-Bangladesh rail-link CSCL bolsters rates ahead of peak season volume increases Container terminal JV established at Ilyichevsk Won appreciation sees Hanjin lose profits CSI covers two-thirds of US-bound containers Boston H1 throughput grows 11% Macandrews open agency in Sri Lanka

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AUGUST 8, 2005
Seaspan success Liner owner gets it done at $21 per share, will net $562m from mammoth IPO and begin trading Tuesday morning in New York. Seaspan price talk at $21 Largest shipping IPO in US history looks poised to price in middle of target range, as Vancouver boxship line looks to break streak of discounted issues. Oil deal boosts Maersk Share price of Danish shipping giant soars into stratosphere as it squeezes in another takeover deal. Novoship prospers Cull of older single-hulled tankers produced profit boost for Russian owner. ENVC narrows losses Portuguese shipbuilder heading in right direction after cutting costs and staff numbers. MCA lashes Storm Greek controlled products carrier detained over catalogue of deficiencies. Heung-A hikes earnings Korean boxship and tanker owner adds 70% to bottom line in first six months. Shake-up for Sea Containers Changes planned for ferry group after ships rack up first-half operating losses of $48m. Pirates to release WFP ship Somali hijackers agree to release general cargo ship Semlow and ten crew held for seven weeks. Expansion boosts NYK Fleet growth and good freight markets more than compensate for soaring bunker costs New rules hit IHI First quarter loss for Japanese shipbuilder after costly accounting change. STX Pan Ocean rallies Upbeat broker report leads to share price resurgence for Singapore-listed Korean bulker player. MHI reports shipbuilding loss Mitsubishi Heavy Industries' shipbuilding arm has reported a first quarter operating loss of JPY700m. Kyoei profits slump Poor start for Japanese VLCC operator and NYK affiliate as first quarter results drop nearly 70%.

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AUGUST 8, 2005
Report: Maersk's takeover of P&O Nedlloyd will soften market downturn Far East/Middle East carriers add peak season surcharge MacAndrews opens agency in Sri Lanka UPS adds Overnite to transportation portfolio Forwarders cut off from ITAR license process Philippines to allow imports of U.S. beef Scientists link Asian beetle to import cargo wood packaging USDA to receive fiscal 2006 trade help requests starting Aug. 15 Mexico to allow wheat imports from U.S. regions free from Karnal bunt Los Angeles, Long Beach harbors still not seeing vessel crunch Baltimore mayor lays out vision to protect American cities Port of Tacoma bond to save $19.2 million over 30 years Pusan terminal takes delivery of three ship-to-shore cranes Dominion Cove Point LNG terminal wants second berth open

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AUGUST 8, 2005
Biggest tanker fleet ever The world's tanker fleet is now the biggest ever, according to revised statstics from Clarksons in London. The previous peak ... Tallink orders from Fincantieri The Tallink Group has closed a deal with Fincantieri on the building of a new ferry, with the option for ...

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AUGUST 8, 2005
USEC, USGC open week firm, USWC demand soars Crude prices push bunker numbers higher on the USEC and Gulf, but window of opportunity allows West Coast suppliers to capitalise. Moscow: Refinery upgrade will see fuel oil production slashed Moscow mayor orders $600 million Moscow Refinery upgrade project with fuel oil output to be slashed by around 70%. Ruling expected on vessel with outstanding bunker bill Australian court will hear bunker claim against vessel under arrest in Adelaide. Crude oil prices power to new record highs Oil prices have powered to new highs today amid ongoing concerns over the security of Saudi Arabian oil supply to the world market. Oil price gains spur fuel surcharge for cruise passengers Passengers on yet another cruise line asked to pay as bunkering costs surge. Singapore: Sempra out of the box and back on trading screen Sempra Energy has been given permission to resume trading on the Page 190 electronic trading platform. Japan: July bunker contract prices end bearish run Retroactive bunker prices up for the first time since April. Aegean secures extended US Defense contract The US Defense Energy Support Center has renewed a contract with Greece-based bunker supplier for the supply of bunkers. Rotterdam market firm at Midday