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Shipping News

Global shipping rates set to fall as capacity rises: S Korea
GLOBAL rates to move cargo by containers may decline for a second year in 2007 as capacity growth from vessels under construction will outstrip demand, South Korea's Ministry of Maritime Affairs and Fisheries said.
Asian shippers hail changes in maritime rules
ASIAN cargo owners are looking at recent regulatory victories as the turning of the tide, as they continue to press for what they say is a more equal footing with container shipping lines.
Typhoon Durian heads for Vietnam, thousands evacuate
THOUSANDS evacuated their homes and ships were called in to shore as Typhoon Durian approached Vietnam's coast yesterday, but forecasters predicted it would make landfall as a tropical storm.
Virus sickens 400 on cruise ship

Port Shots

Port Shots
JOHOR Port Authority will play a major role in ensuring that ports in Johor are able and equipped to compete with increasing competition internationally, chairman Abdul Halim Suleiman said.

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Shipping News

Global shipping rates set to fall as capacity rises: S Korea
GLOBAL rates to move cargo by containers may decline for a second year in 2007 as capacity growth from vessels under construction will outstrip demand, South Korea's Ministry of Maritime Affairs and Fisheries said.
Asian shippers hail changes in maritime rules
ASIAN cargo owners are looking at recent regulatory victories as the turning of the tide, as they continue to press for what they say is a more equal footing with container shipping lines.
Typhoon Durian heads for Vietnam, thousands evacuate
THOUSANDS evacuated their homes and ships were called in to shore as Typhoon Durian approached Vietnam's coast yesterday, but forecasters predicted it would make landfall as a tropical storm.
Virus sickens 400 on cruise ship

Port Shots

Port Shots
JOHOR Port Authority will play a major role in ensuring that ports in Johor are able and equipped to compete with increasing competition internationally, chairman Abdul Halim Suleiman said.

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Maersk Line expects loss in 2006 Lianyungang starts regular sea-rail intermodal service to Alashankou CN to increase 2007 capital spending by 4pc to C$1.6 billion Higher terminal charges at Colombo port in January VPA introduces truck licensing system in a bid to stop future disputes Box throughput in St Petersburg up 22.8pc Russia relinquishes Siberian overflight payments for EU Boeing, Air India mark milestone with 737-800 delivery Budget airline Viva Macau signs Lufthansa cargo deal Qantas forecasts 25-30pc higher earnings in FY2006/07

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16 shipping lines raise cargo rates on Westbound trades MISC investing to increase fleet Maersk Line to raise rates & cut services Danaos takes delivery of 9,580-TEU containership GAC to build warehousing & distribution facility in Thailand NYK to fund expansion with loans, reserves i-model sales rocket as European roro operators opt for Kalmar intelligence Samsung Heavy & Hanjin report profit 11,000-TEU newbuild christened Eleonora Maersk at Odense Steel Shipyard BAX Global wins Cisco Systems supplier award Egypt to spend $ 5 bn on Suez expansion Essar Shipping Board okays delisting L&T has designs of shipyard at Kakinada Shipowners seek better information on regional piracy Garware Offshore Services drops FCCBs route to expand fleet IGT gives berth to scheduled main line vessel Lowered retirement age upsets port workers Cargo scanning at ports made more thorough Ratna Kishore given addl charge of DCI as Capt. Gupta's term ends Bihar CM seeks dedicated ports for land-locked states Top class facilities at Mundra Port & SEZ facilitates new 1-day wheat handling records Lufthansa launches Kolkata-Frankfurt non-stop thrice-a-week flight Exports up by 35 pc this year Maharashtra urged to cut sales tax on diesel by 20 pc Customs duty on palm oils to stay at 70 pc TUFS may be extended till 2010-Vaghela

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BA World Cargo appoints vice-president commercial Ecu-Line upgrades services to Sydney and Melbourne Finnair's India services off to flying start Wim Bosman to Siberia and Kazakhstan City Link wants to buy Target Express in UK

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DECEMBER 4, 2006
ConocoPhillips in cover-up claim Eddington study calls for UK box port boost Stolt-Nielsen US$200m buy-back complete

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DECEMBER 4, 2006
Daewoo books orders worth $600 million Teekay unit files IPO registration

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DECEMBER 4, 2006
Port of Tacoma saves millions on re-financing of revenue bonds Truck tonnage index down for month of October Mitsui making contribution to United Nations refugee program Horizon Lines takes delivery of new ship, HORIZON HUNTER Coast Guard puts clamps on operation of converted cutters

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Torm shares surge after mystery offer COPENHAGEN shipping group Torm's stock surged more than 16% yesterday on a reappraisal of the value of its business to almost DKr15bn ($2.7bn) as main investor Gabriel Panayotides considers a mystery offer for his holding. DVB Bank puts the brakes on transport infrastructure Germany's DVB Bank is withdrawing from transport infrastructure financing in the face of "constantly growing transaction sizes." Lloyd's Register makes offer to buy minority stake in GL Lloyd's Register has offered to buy a minority stake in Germanischer Lloyd, the German classification society currently targeted in a hostile takeover bid by Bureau Veritas.

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DECEMBER 4, 2006
German owners under pressure HAMBURG 04 December ' Government and trade union representatives in Germany have threatened to walk away from the country's national maritime pact unless German ship owners reverse the recent trend to leave the domestic register Wärtsilä opens Mumbai training academy WARTSILA Corp, the Finland-based ship propulsion specialist, opened a new Land and Sea Academy in Mumbai, India's financial capital, today Polar discoverer sues for damages A WHISTLEBLOWER who reported a high seas oil spill aboard a ConocoPhillips-owned tanker is demanding a broad range of payments in a lawsuit filed in a US district court Delhi to reimburse pension fund INDIA'S government is to reimburse the Seamen Provident Fund with the Rs928M ($20M) that was lost in a securities scam in 2002 Chavez wins re-election in Venezuela HUGO Chavez has won the mandate to remain as president of Venezuela for a further six years RN to boost anti-smuggling work THE UK's Royal Navy is reinstating, from next year, a year-round Caribbean patrol, which will comprise a frigate or destroyer and support vessel Reorganisation for Brittany Ferries Madrid's U-turn on Prestige leak InterManager to measure performance Typhoon batters Philippines Giant Step master faces charges

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DECEMBER 4, 2006
Oceania VSA upgrades Australia services Trio of carriers plan to streamline their vessel schedule this month in the West Coast North America to Australia/New Zealand trade. Maersk, Teekay pool tankers Seoul: Rates likely to fall Oberstar sees box fee to fund port security Trade hits China export rule Horizon Lines and Maersk extend agreements Trailer Bridge opens on Nasdaq Global Market Raymond: Industry should work together on box security India port strike planned Piraeus seeks bidders Nehru volume swells

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DECEMBER 4, 2006
Gun battle and blockades close down Bangladesh's transport system again Three people have been killed and 50 wounded during an hour long gun battle fought by political rivals as violence erupted following the fourth transport blockade in as many weeks, writes Reuters. Apres Moi, Le Deluge Karl Marx believed that "history always repeated itself, the first time as tragedy the second time as farce". Container shipping must not allow this nineteenth century truism to be reapplied to today's business. In the first ever ciblog carrier's representative Chris Bourne reproduces a part of the speech he made today to the International Chamber of Commerce telling industry that sensible people won't allow the farce to happen. Seoul takes measures to free cargo flow as truckers' maintain industrial action Taiwan's Taipei Port opening postponed due to highway construction delays Minister warns of economic consequences of failure to fund essential port dredging Busan to scrap container tax Vancouver puts tough new container trucker licence regulations in place New legal framework fails to lift Indonesian carriers' market share in both domestic and international trades South Korean think-tank forecasts 4.2% supply-demand gap CN Board extends Hunter Harrison's contract

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DECEMBER 4, 2006
A Swift partnership Tanker giants Maersk and Teekay join forces on pool for smaller ice-class products tonnage. Torm is top gainer Takeover talk drives Danish tanker share up 17% in a day. Extended Horizon US-flag liner company forges three-year renewals of commercial agreements with Maersk. Namura in share issue Japanese shipbuilder to raise funds for modernisation of its Imari yard. Komrowski pulls Daehan capes order Inability to secure right charter rate and low vessel specs behind quashing of four-plus-two order at Korean yard. Each LNG STS needs risk check Sigtto says every ship-to-ship transfer operations for LNG cargoes will need separate risk assessment. Eight ship order for Daehan Intrigue surrounds order for capesizes from European owner at small South Korean yard. Essar seeks delisting Board of directors of Indian giant to ask for shareholder approval to quit Mumbai Exchange in New Year. LR makes GL move Lloyd's Register latest to enter race for Germanischer Lloyd stake with mooted minority shareholding bid. DVB quits port projects German bank to sell transport infrastructure portfolio but remains committed to shipping. Torm shares rocket Danish tanker owner's stock soars 11% as takeover speculation intensifies. Ship sinks off Shanghai Finger pointed at open door on converted dredger which went under in Huangpu River at the weekend. TMT inks VLCC double Daewoo to build 310,000-dwt twins for Taiwan Maritime Transport with a further option in $265m deal. Freedom struck down Over 380 struck by norovirus during voyage on world's largest cruise liner ' Freedom of the Seas. Klitzing exits Petrojarl Chief executive is effectively forced out after Teekay gain majority share in FPSO operator. Tanker in trouble Isle of Man-flagged coastal tanker adrift off Scotland after main engine cuts out in heavy seas.

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DECEMBER 4, 2006
Maersk to cut transatlantic capacity too FEFC announces January BAF, CAF rates Oceania VSA carriers alter service rotations Evergreen Group to drop Hatsu, ITS brands Other class societies approach Germanischer Lloyd Horizon Lines receives first 2,824-TEU ship from Hyundai Mipo Intermarine expands project cargo service in Asia NASSCO to launch third U.S. Navy T-AKE cargo ship Maersk Contractors wins Gulf of Mexico drilling contract Hyundai starts Taiwan/Vietnam shuttle service Thanks for the chips. Where's the salsa? Continental's November cargo up 3.8% Lufthansa Cargo launch customer for TRAXON's cargo management program Rock stops Alaska Railroad freight train Industry groups call for BIS's China rule to be withdrawn Industry asks Congress to keep eye on unfinished trade business FTA tells British government to accept Eddington's study USDA proposes to allow South Korean Unushu oranges in Alaska C.H. Robinson buys Indian 3PL Triune CORRECTION: 3PL would manage $750 million in Defense spending Trucker strike hits Korean ports New trucking regulations for Vancouver and Fraser River ports Tacoma refinances $111 million in bond debt at lower rates Port of Vancouver USA sets $83.2 million budget for 2007 North Carolina ports poised for growth

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DECEMBER 4, 2006
New Wärtsilä training centre in India Wärtsilä has opened its fourth Wärtsilä Land & Sea Academy (WLSA) training centre for global coverage of training and competence management ... Aker Yards could take Navantia to court Aker Yards could take Spanish yard Navantia to court to seek NOK 55 million compensation for cancellation of a contract ... Blystad orders capesize bulkers Arne Blystad has ordered three 180,000 DWT capesize bulk carriers at the South Korean yard SungDong Heavy Industries, for delivery ...

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DECEMBER 4, 2006
Boost for marine fuel cell development Wärtsilä-led research consortium receives EU grant to develop renewable fuels technology for ships. Bunker supplier turns to 'Singapore model' Caribbean supplier looking at CP60 as it moves to update its procedures. Statoil signs $1.6 billion supply contract Statoil will supply low-sulphur MGO to subsidiary for all vessels and installations working on the Norwegian continental shelf. Aegean poised for IPO and management changes Aegean's revived New York IPO hopes to raise close to $150 million, President and CEO to step down upon completion. Double move for Bominflot New premises for Greek and Scandinavian offices. Quiet start to the week in Rotterdam barge market US ship manager lowers bunker surcharge Lower bunker fuel surcharge was 'due to a substantial decrease of oil'. OPEC members split on decision to cut output Some members concerned over high inventories, others say oil price remains strong. Hong Kong Shipowners Association wants 'clean fuel' HKSOA maintains supports for switch to distillates and challenges two other Asian shipowners associations for disagreeing.