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Panama delegation invites investment by S'pore businesses
SEMBCORP Marine, the Singapore Cruise Centre and PSA International are among the local companies tipped to tap business opportunities in Panama as a visiting trade delegation highlighted six key investment areas to the Singapore business community.
Judge decides not to intervene in Dubai ports transaction
A US judge said on Wednesday that it was premature to order the Bush administration to disclose parts of a security probe into an Arab port operator, but said he may change his mind if a new 45-day review gives the firm the green light to manage terminals at key US ports.
KepFels wins US$177m deal to upgrade drilling rig
KEPPEL Fels Ltd, the world's leading rig builder, has won a US$177 million contract to upgrade and extend the life of a semi-submersible drilling rig for Blackford Dolphin Pte Ltd, which is wholly owned by Norway's Fred.Olsen Energy ASA.
Shanghai Int'l Port's container volume rises 12% in Feb
Toll to revamp hostile bid for Patrick

Admiralty Casebook

Claim against S'pore-flag ship ordered to be heard in India
THE Supreme Court of India recently ordered an admiralty claim made against a Singapore-flag vessel almost six years ago, to be heard in the Calcutta High Court although the relevant bills of lading contained an exclusive jurisdiction clause in favour of Singapore courts.

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Shipping News

Panama delegation invites investment by S'pore businesses
SEMBCORP Marine, the Singapore Cruise Centre and PSA International are among the local companies tipped to tap business opportunities in Panama as a visiting trade delegation highlighted six key investment areas to the Singapore business community.
Judge decides not to intervene in Dubai ports transaction
A US judge said on Wednesday that it was premature to order the Bush administration to disclose parts of a security probe into an Arab port operator, but said he may change his mind if a new 45-day review gives the firm the green light to manage terminals at key US ports.
KepFels wins US$177m deal to upgrade drilling rig
KEPPEL Fels Ltd, the world's leading rig builder, has won a US$177 million contract to upgrade and extend the life of a semi-submersible drilling rig for Blackford Dolphin Pte Ltd, which is wholly owned by Norway's Fred.Olsen Energy ASA.
Shanghai Int'l Port's container volume rises 12% in Feb
Toll to revamp hostile bid for Patrick

Admiralty Casebook

Claim against S'pore-flag ship ordered to be heard in India
THE Supreme Court of India recently ordered an admiralty claim made against a Singapore-flag vessel almost six years ago, to be heard in the Calcutta High Court although the relevant bills of lading contained an exclusive jurisdiction clause in favour of Singapore courts.

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`K' Line, MOL to offer Asia-Mexico/W Coast S America service Cargo train services in S Korea disrupted by rail strike Australian PM backs DP World takeover of P&O MISC Q3 results weaker than year-to-date performance ESC fears EC proposal to secure freight transport may be too costly MSC signs 10-year commitment with Virginia Port Authority Overnite to be rebranded as UPS Freight SAS Cargo profits reach new high United reaches preliminary deal with engineers after lengthy talks Dulles to receive US$200m for 4th runway

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Move to set up maritime academy welcomed WCA President honoured in China ahead of regional conference IGLN gains in strength at first annual conference SCI seeks permission to acquire 28 new vessels Plethora of taxes sinks benefits of tonnage tax regime for shipping cos Exporters poised to get refund on input service tax RBI to ease norms for gold imports by banks Vegetable oil base import tariff hiked Vizag Port races past 2004-05 record handling figure Centre keen on deep draught port in Bengal KPT Chairman inaugurates new godowns to augment storage capacity GTI to hold presentation for CFS operators on Sat. AIAI hails freight corridor plan in Rail Budget LIVE, Dept of Commerce and Indev Group organise inter-collegiate symposium AMTOI's 2nd annual day celebrations today An interesting legal case study Andhra Pradesh govt plans SEZs in strategic areas Welcome Mr Bush, says AIAI India-CIS pharma meet on March 3-5

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MARCH 2, 2006
Phillip C. Allen named Port Everglades director DHL takes market lead in Startday and Midday Express services Germany: Kombiverkehr increases capacities Frans Maas reaches agreement with DFDS Transport/DSV

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MARCH 2, 2006
Horizon Lines boss says DP World poses "no unusual risk" Master remanded in custody APL strengthens Vietnam service Imarex and NOS sign up new members FEFC pushes ahead with rate increases Indonesian fraud hits buyers

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MARCH 2, 2006
Corps schedules closure of Columbia River locks Mitsui teams with "K" Line for new Asia-Mexico/SAmerica run Portland Shipping Club Pizza Night March 23 NOL sees good result in full year 2005 numbers NCL posts gains for 2005 net income

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Hurdles remain after two judges back P&O takeover JUDGES in Britain and the US yesterday effectively cleared the way for the £3.9bn ($7.4bn) takeover of P&O by Dubai Ports World. Boycott furore hits DP World THE Dubai Ports World bid for P&O has caused further political controversy in the US after an Israeli newspaper reported that the company supports an Arab boycott against Israel, writes David Osler . Clues sought on Morse exit SIMON Morse's sudden departure from Inchcape Shipping Services, exactly one month after a change of ownership, followed a fundamental disagreement over the future direction of the marine services company. TEN jumps to ice class No 1 with $530m fleet deal TSAKOS Energy Navigation has clinched a deal with Western Petroleum Group to acquire the Bahamas oil trader's brand new fleet of nine product tankers. He calls for China shipyard support BOARD chairman of China's Bohai Shipbuilding Heavy Industry Co, He Rongguan, has hit out at the country's lack of shipbuilding support facilities, writes Mike Grinter in Hong Kong.

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MARCH 2, 2006
Judge approves P&O takeover DUBAI Ports World's takeover of P&O has been approved by a High Court judge in London No bunker crisis, stresses MPA SINGAPORE'S Maritime and Port Authority has countered media reports suggesting that the Republic's bunkering industry is going through a crisis 'Dubai hysteria' hits Washington AN avalanche of legislation fell on the US Congress yesterday in response to what some Washington insiders are calling "Dubai Hysteria" Birka sees brighter future ahead TOUGH trading conditions will continue in the short cruise market in Sweden but the worst should be over, says the board of Finnish operator Birka Line Imarex reveals growing value THE Oslo-based shipping derivatives exchange Imarex has announced a boost in the value of contracts traded US gasoline importers gambling TEN confirms en-bloc buy Bulker rams jetty at Maputo Carnival ships leave New Orleans TUI scales back CP Ships' IT team Tariff boost for Italian ferry lines DFDS strengthens Lithuania service London court upholds Chase ruling Hamburg Süd swallows Ybarra Bourbon funds massive expansion

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MARCH 2, 2006
Bill would block DP World's buy of P&O, require 100% screening of cargo No fewer than 11 U.S. bills and resolutions have been introduced in the wake of DP World's takeover of P&O's operations at U.S. ports. Zim chairman backs ports deal Singapore plans to double port capacity UK judge OKs DP World deal DP World "no unusual risk": Raymond DP World volume up 19% No need to make C-TPAT mandatory: Spero APL adds first Savannah call One dead in Mobile crane mishap

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MARCH 2, 2006
Update2:High Court rules for DPW, while conflict of opinion continues in US DP World's bid for P&O was approved this afternoon in a much-delayed High Court hearing, though US-based Eller & Co, which had asked the court to block the deal, has indicated it will try to appeal. Toll eyes expansion, with 'an Asian logistics group' in sight Toll Holdings MD Paul Little expects to announce an acquisition of 'an Asian logistics group' before the end of March, in a transaction believed to be worth over A$1bn (US$0.74bn). Hong Kong truckers challenge OnePort's 100% e-receipt plan Hong Kong truckers have once again rejected a bid to 'switch off' paper terminal receipts, which Hong Kong's sole electronic logistic platform operator OnePort had hoped to do in April. Port of Virginia binds in shipping deals to secure its bonds Dongnama and SYMS confirm three new intra-Asia services HMM and Heung-A to co-operate on China-India service Indian railway to send team to study US box-rail technology

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MARCH 2, 2006
Bugbee's big buy OMI president Robert Bugbee opens his checkbook for $4m buy of his company's shares. Death shadows Zim Mexico One dead in freak crane accident that seriously damages a Mobile, Alabama terminal and a boxship involved in death of five seafarers one year ago. Polembros plight explained Greek owner claims bank fraud deprived it of funds to modernise elderly fleet. UK Court backs DPW London High Court judge is not persuaded by job-loss claims from Miami terminal operator in P&O takeover deal. TEN buys nine Swiss oil trader Western Petroleum makes huge profit as it sells entire ice class tanker fleet to Tsakos for $530m. SCI shopping list revealed India's shipping minister provides costed breakdown of 28-ship acquisition programme. Third record year for TEN Tsakos' quoted tanker venture posts higher profit despite softer freight market. Orey in cash dash Portuguese broker and agent to sell shares and issue debt to pay for yet more expansion. DFDS eyes Iberia Danish ro-ro owner starts joint service with Vapores Suardiaz Norte to build Spanish and Portuguese business. Spliethoff in OWS hit Dutch firm latest in long line of owners to be caught in crackdown on oily-water separators. Suez signs with Brass Energy trader wraps up its new West Africa purchase with greenfield project and may use regasification vessels to lift cargoes. FEFC gambles on rate rise Asia-Europe conference decides over-tonnaged market can now bear price increases. Dohle fixes to Emirates Line Ex-Norasia chief's venture will take two ships from the German owner for new India-US line. Canada holds lone failure Just one vessel failed port state safety checks during January. Players up, business down Freight trading portal Imarex sees membership rise but this is not matched by trades. Target infidel's tankers! Al Qaeda ideologue advocates terrorist attacks on shipping and pipelines but preserving oil wells. DFDS adds capacity in Baltic Denmark owner's Lisco Baltic unit snaps up Stena ro-pax to boost Lithuania to Germany route. Chiquita chops Great White job Us-listed banana giant cuts costs by spreading responsibilities for reefer fleet. New breed of entrepreneur Banker says Chinese owners may have evolved away from traditional style of speculation and asset play. APL beefs up Vietnam links NOL container line starts route between Haiphong and Kong Kong/China next week. Daewoo inks drillship South Korean shipbuilder seals $470m newbuilding deal on back of five-year charter to Chevron. Owners left empty-handed India's budget disappoints shipping companies as ship management brought into tax net. CSAV rues fuel costs Chilean boxship company's annual profit chopped by lower freight rates and more expensive bunkers.

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MARCH 2, 2006
FMC chairman highlights improved shipping conditions in China APL joins transatlantic leg of Maersk, CP Ships pendulum loop China Shipping to charter at least four 2,500-TEU ships from Seaspan Record year for SAS Cargo Continental Airlines' cargo down 2.1% in February St. Lawrence Seaway budget would include new tolls Interest groups note caution about EC's supply chain security proposal Bush administration presents annual trade report RedPrairie buys MARC Global Eller & Co. makes Buy-American play for P&O Baltimore awards contracts for Dundalk repairs

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MARCH 2, 2006
2005 a good year for Cityvarvet The ship repair yard Götaverken Cityvarvet in Göteborg had a good 2005. Turnover rose from SEK 160 million in 2004 ... Larvik ready for new Color Line vessel Port of Larvik is on schedule to meet the challenge of Color Line Superspeed, the new fast ropax service between ... Wärtsilä expanding in the Baltic states Wärtsilä will expand its co-operation with the BLRT Grupp of Estonia by setting up a second joint venture to ...

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MARCH 2, 2006
Ferry operator pares third quarter losses Despite the introduction of fuel surcharges, deferred fuel costs increase. Third quarter losses meanwhile are significantly reduced over last year. Lower dockage rates for green-friendly ships Long Beach approves $2.2 million reduction in fees for compliant vessels. Brazilian avails tighten Major supplier reporting product shortages in key ports, although main port of Santos improving. Denmark: O.W. Bunker announces new sales manager Chilean suppliers plan expansion, cautiously Bunker firms in Chile looking to shake off supply woes and reap benefit from expanding trade. Owners fear limited options to comply with SECA requirements O.W. Bunker MARPOL seminar reveals that owners have major concerns about LSFO availability, with many considering other ways to comply with sulphur limits. Singapore: Fall in stocks of residual fuels and distillates Singapore: Strong buying interest by BP lifts bunker prices Premium for physical cargoes of 180 cst bunker fuel doubled on Wednesday. Saudi Aramco targets higher refinery and crude output Planned increase in refining production by 2011 would require heavy investment. Cargoes destined for Singapore or Middle East bunker market Traders say Jordanian fuel oil cargoes could find their way to Singapore or Middle East bunker markets following tender.