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Babcock & Brown eyes Europe airports, sea ports
BABCOCK & Brown Ltd, Australia's second-largest investment bank, may buy European airports and sea ports as it seeks more profitable deals beyond its home market.
Crude oil shipping rates may fall for 2nd week
THE cost of shipping crude oil from the Middle East to Asia on two million-barrel tankers may fall for a second consecutive week as oil companies and traders finish booking vessels for July.
Ezra Hldgs to double its fleet by Dec 2007
EZRA Holdings Ltd, which operates anchor handling vessels that support the offshore oil industry, will double the size of its fleet by December 2007, its managing director said.
No plan to sell preferred stock, says Hyundai Merchant
Lake Maracaibo reopens after tanker grounding

Admiralty Casebook

Insurers not liable for shipowners' loss when there is breach of warranty
THE Singapore High Court recently upheld a marine insurer's claim for reimbursement of salvage expenses, ruling that the policy holder had breached a warranty that restricted the departure of the insured vessels from the harbour based on weather forecasts.

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Shipping News

Babcock & Brown eyes Europe airports, sea ports
BABCOCK & Brown Ltd, Australia's second-largest investment bank, may buy European airports and sea ports as it seeks more profitable deals beyond its home market.
Crude oil shipping rates may fall for 2nd week
THE cost of shipping crude oil from the Middle East to Asia on two million-barrel tankers may fall for a second consecutive week as oil companies and traders finish booking vessels for July.
Ezra Hldgs to double its fleet by Dec 2007
EZRA Holdings Ltd, which operates anchor handling vessels that support the offshore oil industry, will double the size of its fleet by December 2007, its managing director said.
No plan to sell preferred stock, says Hyundai Merchant
Lake Maracaibo reopens after tanker grounding

Admiralty Casebook

Insurers not liable for shipowners' loss when there is breach of warranty
THE Singapore High Court recently upheld a marine insurer's claim for reimbursement of salvage expenses, ruling that the policy holder had breached a warranty that restricted the departure of the insured vessels from the harbour based on weather forecasts.

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A P Moeller warns of lower profits Cosco terminals throughput up 26.4pc in May Dalian foreign trade value up 20pc during Jan-May period OOCL transports The Phantom back to HK USL appoints senior management team members Third 777-300ER delivered to EVA Panalpina appoints new CEO Alaskan introduces first 737-400 freighter to fleet

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JUNE 29, 2006
Rüdiger Deutsch and Johann Raab retire from bayernhafen group Kalmar builds 40,000th terminal tractor in Ottawa KS Chinese cargo ice thawing Gotthard (Switzerland) route to reopen on 30 June Geodis supports FedEx Express in France

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JUNE 29, 2006
Singapore offers "lifetime" tax exemption North of England claims low losses Grimaldi ups Finnlines stake to 30% Multraship expands OSG sells three EC acts over port state control "failures" EC acts over waste facilities

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JUNE 29, 2006
New initiative on container security standards U.S. Shipping Partners reserves shipbuilding slots Conrad Industries adds to orderbook GAO reports on Fast Response Cutter program Bollinger to build LCS

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JUNE 29, 2006
Port of Vancouver Commissioners eye Great Western Malting ethanol project Japanese manufacturing firm announces upgrade of Oregon plant Port of Bellingham hosting first BayFest celebration Coast Guard looking into ship accident at Tacoma terminal International Trade Administration invites businesses to call on India

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Cargo boom prompts box capacity crisis CONTAINER lines could find themselves short of tonnage later this year as they struggle to handle an unprecedented volume of cargo being shipped from Asia to Europe. Staying one step ahead with 'clever' box security WORRIED about the continuing threat of a container-borne terrorist attack, shippers and IT companies have launched a Brussels-based body to introduce new standards for box security. Hyundai Fortune feeds insurance claims frenzy MORE than 50 underwriters have instructed law firm Clyde & Co to represent their interests in the cargo which was stowed on the Hyundai Fortune, the huge containership that was severely damaged by explosion and fire off Aden in March.

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JUNE 29, 2006
Grounded boxship refloat latest BAD weather delayed the arrival in East London, South Africa, of the salvage tug Smit Amandla and the first attempt to pull the grounded container ship Safmarine Agulhas will now take place on this afternoon's high tide at 1800 local time Grimaldi Naples ups Finnlines stake GRIMALDI Naples, the Italian ro-ro operator that has gradually built up its holding in Finnlines, has doubled its stake to 30.5% of the shares and votes Leaking tanker too unsafe to move KEPPEL Batangas Shipyard has claimed it has no responsibility for any environmental damage that might be caused by the sinking of the non-propelled barge Billy Star Paraguay questions Mercosur status PARAGUAY has followed Uruguay in threatening to leave the Mercosur trade bloc Bangla confirms two casualties BANGLADESH authorities have recovered the bodies of two seafarers missing from the burnt 14,541-dwt tanker Banglar Shourabh GE Shipping demerger goes ahead INDIAN government-owned oil explorer ONGC has finally approved the proposed de-merger of Great Eastern Shipping Co, and the process is now able to go ahead Weather delays prompt liner dilemma LA/LB invest to clear the air Canada makes ballast rules mandatory Algeria studies mega-port project

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JUNE 29, 2006
LA-Long Beach unveils clean-air plan U.S. container gateway will use tariffs, leases and financial incentives to cut diesel ship and truck emissions in half by 2010. Charter owner Costamare orders post-panamax ships New group to set box anti-terror standards Congress sends Coast Guard bill to White House Waterways Council 'pleased' with Corps funding Background checks planned for Canadian port workers JoC schedules 4th Short Sea Shipping Conference U.S. aids master plan for Mexico intermodal Hanjin Shipping forms joint venture in Colombo New president for Schneider National intermodal

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JUNE 29, 2006
Maersk reshuffle aimed at finding Søderberg's successor AP Moller - Maersk has announced an expansion of its senior management team just a day after issuing a profit warning that the company's net income will be 40% below 2005 levels. Nansha to start building phase III next year China's Nansha port will start building the six berths in its Phase III project right after the completion of phase II in September 2007. CONCOR deals with JNP delays CMA CGM's big day cannot mask industry's rate concerns Breakdown forces Sofrana shuffle CSG President Li Shaode named Chairman of CSCL Carriers changing Australian agency arrangements Hanjin Shipping to establish Colombo joint venture

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JUNE 29, 2006
US Shipping confirms deposits Jones Act tanker company admits it has reserved slots for tanker newbuildings, but doesn't use the word 'Nassco.' American Club in $20m loss New York based P&I mutual sticks to its policy of always looking on the bright side of life. Ferry case flags Panama Committee investigating sinking of Egyptian ferry in February looks at role of flag state in incident. Vroon offloads bulkers Dutch shipowner confirms the sale of two handymax units in China and orders in Japan for two panamaxes. Belships' tax axed Oslo-listed bulker owner to pocket $1.82m after Singapore subsidiary found to be paying erroneous taxes. EUR300m boost for Wartsila Power plant orders for LNG carriers and drillships boost Finnish engine builder's order intake. OSG shuffles the pack Tanker owner sells two aframaxes and a VLCC for $168m and charters in two aframaxes. COSCON targets Vietnam Cosco Container Lines to start weekly service between Hong Kong and Haiphong from July.

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JUNE 29, 2006
British shippers wary of ELAA proposals Hanjin to start Sri Lankan joint venture Panama off Paris MoU flag "black list" OOCL's new 5,888-TEU ship for MAX service "K" Line deploys new coal carrier UPS increases U.S. mail transport business Swissport to manage cargo handling for Lufthansa Cargo at Hanover Arves resigns as head of Schneider truckload A. Duie Pyle to grow truckload business U.S. Chamber urges Congress to pass Peru trade promotion pact EC green-lights Kuehne + Nagel's U.K. drinks distribution joint venture Sony outsources management of repair parts center to New Breed Bush names R&D head for DHS MHF completes management buyout Spencer to head Mallory Alexander logistics site in North Dakota Blue Sky, Optricity to partner Ozburn-Hessey secures deal with Tennessee machinery manufacturer Long Beach, L.A. ports issue details of air pollution reduction plan New PierPass trucker survey finds favorable reaction to off-peak gates

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JUNE 29, 2006
WW threatens to pull out of Norway Norwegian owner/operator Wilh. Wilhelmsen (WW) is now threatening to pull the remainder of the fleet and the land-based ... Grimaldi increases its ownership in Finnlines Companies within Grimaldi Group now own 30.5 per cent of Finnlines Plc. Last February Grimaldi increased its ownership to 15 ... Crime lab to investigate "Estonia" film coverage The Swedish government has ordered the Swedish National Laboratory of Forensic Science, SKL, to examine all photo and film material ...

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JUNE 29, 2006
Lake Charles remains closed Coast Guard not putting a date on reopening as clean up continues. LA, Long Beach: 0.2% distillate fuel mandatory by end of 2006 Implementation to proceed rapidly but will depend on new leases and marine gasoil availability. Rosneft acquires Russian Far East oil port Russian state oil company finalises deal to acquire the largest specialist commercial seaport on Russia's Pacific coast, including bunkering station. St. Petersburg port to close for G8 summit The port will be closed to sea traffic for five days. Russian oil export duties to rise from August Higher crude oil prices to push Russian oil and oil product export duties to fresh record highs. Singapore residual stocks lower, sharp build in distillates Rotterdam barge trade offers rise above Antwerp Hong Kong bunker players set July term barrel premiums Bunker players set premiums of $16-19 pmt over MOPS 380 cst assessments for July term bunker barrels. Singapore: Active bunkering market lifts oil imports Active oil trading market and marine bunkering lifted oil imports by 11% last year. Malaysia's anti-piracy agency commences operations Launched in November 2005, the Malaysian Maritime Enforcement Agency started operations last week. Singapore market firms along with crude Demand picks up ahead of the weekend, berth congestion persists at oil terminals.