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Shipping News

Marine Electronic Highway project set to take off
THE long awaited Marine Electronic Highway project looks set to finally move into first gear following the signing of a US$6.86 million grant agreement between the Global Environment Facility /World Bank and the International Maritime Organisation .
Chemical spill threatens Keppel Batangas yard
KEPPEL Batangas Shipyard is facing a potentially toxic chemical mishap after a barge loaded with 1,250 tonnes of highly toxic sulphuric acid sank while docked at its pier last Saturday.
China Cosco to buy 8 ships
CHINA Cosco Holdings Co, owner of China's second-largest container shipping line, placed a US$516.8 million order for eight new cargo ships, as rising trade boosts demand for sea freight.
MISC orders 4 tankers from STX
Pirates shoot at master

Strait Talk

Boxship blues
THE current slide towards significant overcapacity in the container shipping sector is of course a headache for liner shipping executives who may have been lulled into false optimism by the comparatively strong market over the past couple of years.

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Shipping News

Marine Electronic Highway project set to take off
THE long awaited Marine Electronic Highway project looks set to finally move into first gear following the signing of a US$6.86 million grant agreement between the Global Environment Facility /World Bank and the International Maritime Organisation .
Chemical spill threatens Keppel Batangas yard
KEPPEL Batangas Shipyard is facing a potentially toxic chemical mishap after a barge loaded with 1,250 tonnes of highly toxic sulphuric acid sank while docked at its pier last Saturday.
China Cosco to buy 8 ships
CHINA Cosco Holdings Co, owner of China's second-largest container shipping line, placed a US$516.8 million order for eight new cargo ships, as rising trade boosts demand for sea freight.
MISC orders 4 tankers from STX
Pirates shoot at master

Strait Talk

Boxship blues
THE current slide towards significant overcapacity in the container shipping sector is of course a headache for liner shipping executives who may have been lulled into false optimism by the comparatively strong market over the past couple of years.

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Coscon signs up for 8 newbuilds KCRC reverses track and wants to carry freight again Ecu-Line shares deal completed Port Klang signs MoU with Ecuador port Georgia Ports to spend US$82m on upgrades China Airlines seeks clearance for mainland cargo flights Volo de Brasil comes to Varig's rescue DHL forms alliance with Transmile to boost intra-Asia air services

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SVCL invests Rs 10 cr. in Direct Logistics ELAA submits alternative liner conference rules to EC Demand for Suezmax tankers projected to rise Essar Shipping posts lower net OOCL named Container Line of Year Apparel exports can be doubled in 5 years, feels AEPC AB Ports meeting on July 18 to consider Goldman's takeover bid TPT's inner harbour project gets 'green' signal ECR unable to meet PPT's demand of BOBR rakes for coal transport Finance Ministry prefers PPP route to fund dedicated rail freight corridor Punjab clears Reliance's mega agricultural project After Golden Quadrilateral will come new 8-year highway project to link state capitals, metros-PM ... to launch development initiatives in South CII to conduct workshops on new quality training standard

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JUNE 27, 2006
New Birkart Globistics general manager Messina buys con-ro units China Southern increases trans-Pacific frequency New EWS London railfreight terminal up and running Sinotrans starts logistics services contract with Beifa Group Czech A-road truck toll postponed to July 2007 DTC dispatchers and drivers always on-line SITL South China 2006 trade fair opening soon

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JUNE 27, 2006
Pirates shoot at master off Oman coast Sunken tanker disclassed Stolt tanker in collision Farstad in Saipem deal

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JUNE 27, 2006
Bush picks Sean Connaughton for Marad job Noble to build third F&G jackup Farstad orders construction vessel

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Maersk shares slump on profits warning DANISH shipping giant AP Moller-Maersk shocked investors yesterday with a profit warning after admitting that its container business was under-performing. Japan may go it alone with oil pollution fund JAPAN is considering establishing its own marine oil pollution fund in a move which could have serious implications for the existing international regime, writes Tony Gray. Bumper Wallem valuation reflects 'price of goodwill' THE two investors that purchased Wallem earlier this year may have paid over US$85m for the Hong Kong shipmanager, it has now emerged. American Club spells out extent of deficit LEADERS of the American P&I Club have spelt out the scale of the deficit that led to a ratings downgrade earlier in the year, while insisting that the finances of the mutual are robust thanks to strong cash flow.

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JUNE 27, 2006
Hit-and-run charge denied CHINA Navigation has denied that one of its ships fled the scene after a collision with the People's Liberation Army patrol boat in the waters off Zhuhai last week Aus to re-start wheat exports to India AWB has resolved quarantine issues on wheat exports to India, and will re-start shipments Four stowaways, two dead, in Miami-bound box FOUR stowaways ' two alive and two dead ' were found in a container yesterday (26 June) aboard the Panamanian flagged Seaboard Trader, which was en route to Miami Baltic yard says book not as bad as it looks ST Petersburg shipyard Baltic Plant claims it has a newbuild orderbook loaded until 2009 and that financials not as bad as they look, despite a steep drop in 2005 revenues International Shipholding leaves New Orleans INTERNATIONAL Shipholding, founded in New Orleans and based there for 50 years, is moving to Mobile, Alabama, because of constraints remaining after Hurricane Katrina Icelandic owner heads for tropics ICELANDIC shipping group Samskip has opened two offices in Brazil, its first in South America, aimed at the refrigerated fruit and vegetable trade Mercosur losing charm for Uruguay Safmarine vessel beached at East London Fesco blames fuel costs for profit collapse California port shut on terrorist threat ANZDL reincarnated as ANZL

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JUNE 27, 2006
Maersk cuts profit outlook for 2006 Parent of world's largest container line says profit will fall by 40 percent from $3.5 billion in 2005, revising earlier forecast of 10-15 percent drop. Cosco buying 8 boxships EU won't make new farm offer Panama Canal expansion plan goes to Assembly U.S. Lines names Australasia executives Stowaways die aboard Miami-bound ship CSXI eases July fuel fee Denver firm to develop North Carolina port Safmarine ship aground UPS Air Cargo hikes fuel charge

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JUNE 27, 2006
China shippers urge Macau to scrap surcharge Shippers in the Greater China region agreed at the first Cross-Strait Shippers' Associations Meeting that the Macau Operation Charge is unfair in its nature and must be abolished. Jurong to make first investment in China Jurong Port, Singapore's second-largest container port operator, will soon be making its first major investment in China, according to a government official. Unions up the ante in Santos COSCON orders eight boxships Chennai feeder operators impose surcharge Houston in the market for electricity but cautious on shore power 'Smoke' rises over Petersburg bridge weight limits, but fire not yet visible Marseilles-Fos 2% ahead, after growth slows Politicians to stop shipping at St Petersburg

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JUNE 27, 2006
Connaughton nominated The White House intends to nominate Sean Connaughton to head the US Maritime Administration (MarAd). Oman takes two with MOL Ahmed bin Abdulnabi Macki-led Oman Shipping Co (OSC) is expanding with its first VLGC and an aframax products tanker. Reaching for Top shelf Evangelos Pistiolis-led Top Tankers has put its shelf registration in play and sold $19.5m worth of fresh shares. AP Moller admits failure Integration of P&O Nedlloyd combined with lower rates pummels Danish giant's 2006 targets. Search for Moller heir begins Musical chairs as group ushers in flatter management structure and initiates beauty parade of potential successors. Nepline eyes aframax Malaysian owner Nepline Berhad sets aside $50m for acquisition of double-hulled tanker later in the year. Sales dent Essar profit India's Essar Shipping sees income drop as suezmax sales in the year decrease revenues. Bomb threat closes port Californian reefer terminal disrupted after message to president found on NYK ship. ISH decamps to Alabama Controversial issue of Mississippi River Gulf outlet, blamed for Katrina damage, forces owner out of New Orleans birthplace. Stowaways dead off US Crew onboard Miami-bound vessel find two dead and two survivors in container from Dominican Republic. Stolt tanker sinks tug Concern for diesel fuel onboard tug which sank in Mississippi River after collision with Stolt-Nielsen chemical tanker. Safmarine ship grounds Power loss and strong winds push Safmarine Agulhas onto sandbank off East London in South Africa. A score! Farstad Shipping places its twentieth newbuild contract with the Aker Group. COSCON opts for Jiangnan Cosco Container Lines orders eight 5,100-teu containerships at domestic yard in $516m deal. PacBasin lands bulker Pacific Basin forks out $32m for 52,000-dwt bulker from Magsaysay Lines of the Philippines. Bangladesh minister Hossain dies "Massive cardiac arrest" claims life of Akbar Hossain (65), Bangladesh's shipping minister.

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JUNE 27, 2006
U.S.-Mexico rail ferry will relocate to Mobile Asian antipiracy program given September start date Korean Air keeps international air freight top spot Denver chassis pool expands Con-way Freight-Central promotes Mathias Niche logistics providers still play important role, shippers say FedEx promotes U.S./France trade New USTR chief announces staff appointments TT Club switches regional management Southern California ports to release clean air plan Terrorist threat note shuts down Port of Hueneme Georgia Ports Authority outlines growth plans

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JUNE 27, 2006
Coastal Express "Fram" on Greenland cruises The new cruise vessel being built by Fincantieri in Trieste for the Norwegian Coastal Express (Hurtigruten Group) and named "Fram ... Imperial sole owner of SOL Navalmar Transportes Maritimos sells its share of Svenska Orient Linien to Imperial Shipping, which becomes the sole owner of SOL ...

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JUNE 27, 2006
New California port emissions plan signals historic cooperation Los Angeles and Long Beach announcing 'hundreds of millions of dollars' to reduce pollution in a new joint effort. 'Unsatisfactory' Maersk result blames bunkers Fuel costs fingered for contributing to revised profit forecast for shipping giant. Houston Port confirms emissions plans Port authority studying new technologies and cleaner fuels, but on-road emissions will be first target. Association claims progress for Russian bunker market Russian bunker association approves major principles for a code of ethics and establishment of supplier register. UAE: Oil boom requirement coming into force Oil booms will be mandatory for bunkering and oil cargo operations in ports under the Sharjah Port Authority. Football fever interrupts play at Petrobras again Brazilian bunker supplier's office takes a break during World Cup game. Rotterdam tracking higher crude Hong Kong to face tight supplies in July Bunker supplies expected to be tight during the first half of July due to a drop in fuel oil cargo arrivals. Singapore bunker suppliers report tight avails Congestion noted at the terminals while bunker demand subsides on firmer prices.