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Shipping News

Oil tanker rates seen falling as much as 25%
OIL tanker rates could fall by as much as 25 per cent this year as the global tanker fleet grows faster than oil shipments, the head of Clarkson Research said yesterday.
S'pore to join Bunker Convention
SINGAPORE intends to accede to the international Bunker Convention by next month.
US Congress deals with DPW fallout
THE US Congress is looking at new legislative proposals responding to the political firestorm sparked by a Dubai-owned company's bid to take over operations at some major US ports.
Grounded-ship master jailed
Clarkson's H2 profit up 5.6% to £7.5m

Admiralty Casebook

Who is liable for improper stowage of cargo?
JUST because the captain of a chartered vessel had supervised the loading and stowage of cargo, that did not mean that responsibility for the stowage, which was contractually the charterers', had shifted to the vessel owners, an English court ruled earlier this month.

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Shipping News

Oil tanker rates seen falling as much as 25%
OIL tanker rates could fall by as much as 25 per cent this year as the global tanker fleet grows faster than oil shipments, the head of Clarkson Research said yesterday.
S'pore to join Bunker Convention
SINGAPORE intends to accede to the international Bunker Convention by next month.
US Congress deals with DPW fallout
THE US Congress is looking at new legislative proposals responding to the political firestorm sparked by a Dubai-owned company's bid to take over operations at some major US ports.
Grounded-ship master jailed
Clarkson's H2 profit up 5.6% to £7.5m

Admiralty Casebook

Who is liable for improper stowage of cargo?
JUST because the captain of a chartered vessel had supervised the loading and stowage of cargo, that did not mean that responsibility for the stowage, which was contractually the charterers', had shifted to the vessel owners, an English court ruled earlier this month.

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AP Moller-Maersk 2005 container shipping profits down despite increased volume Hanjin orders 4 newbuilds Sinotrans upbeat about 2006 prospects Rival port derails Hutchison bid to buy 50pc of Lyttelton Port MICT opens export gate Singapore joins US' Mega Ports Initiative Qantas to raise US$400 million through bond sale PIA takes delivery of second 777-200LR Kitty Hawk sees red in 2005, but expects improvements in 2006 TNT Airways signs EUR15 million maintenance contract with KLM unit

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Fast transit times, ample space are main advantages of CIX service-HMM official GAIL (India) gets excellent response to bid for transporting CNG from Myanmar India, Pak Secretaries get down to business India, Pak to jointly file for basmati patent Auto parts makers seek virtual SEZ status India trade centre to come up in UAE Garment exporters tap niche segments to keep competitors at bay GSPC, GMB may jointly develop LNG terminal GRSE plans new shipyards SC judgment on truck overloading Puyvast Maritime of Bangalore effects 1st rake movement of granite blocks from Lalitpur, Jhansi, to Kandla Port Stiff hike in rail container transport rates from tomorrow Interactive meeting at IMC today

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MARCH 30, 2006
TransCare AG extends field of competence Cosco names biggest boxship TAP Cargo teams up with new service partner in Frankfurt Russkaya Troyka traffic booming Fiege acquires TTS Holding and Rewico

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MARCH 30, 2006
ILO/IMO launches abandonment database MOL restructures shipmanagement AP Moller profits down GEO orders ROV vessel from Aker

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MARCH 30, 2006
Crowley christens 185,000 bbl ATB Nakilat to order world's largest LNG ships

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MARCH 30, 2006
National airports association names Sea-Tac lounge best in US Hanjin orders four more 4,300 TEU container ships Annual boating/chowder event set for May 13th in Olympia Coast Guard Cutter POLAR STAR returns to homeport in Seattle Crowley launching new Articulated Tug-Barge

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Integration key to new NYK strategy JAPAN'S Nippon Yusen Kaisha will formally unveil a new corporate strategy tomorrow designed to make it stand out from its global competitors. Greek flag declines as nation's tonnage soars STATISTICS just released show that Greek-controlled shipping has continued to expand during the past 12 months but the country's shipowners have seized on a stark contrast in the fortunes of the national registry. Drama as Tosca takes Port 2000 detour The 8,500 teu CMA CGM Tosca inaugurated the port of Le Havre's new €1.09bn ($1.3bn) container facility, Port 2000, yesterday, making a detour to call at the French port before continuing on its journey eastbound to Asia via Malta. Dry freight derivatives screen in May debut THE first multi-broker dry cargo freight derivatives trading screen, CIF, will go live at the end of May. ABP scorns 'inadequate' £2.2bn takeover bid Associated British Ports has rejected in no uncertain terms a £2.2bn ($3.85bn) takeover bid from a powerful consortium of investment groups.

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MARCH 30, 2006
NSCSA management changes MANAGEMENT changes have been announced at Riyadh-based National Shipping Company of Saudi Arabia SUV targeting causes little concern TIGHTENING of fuel economy rules for sports utility vehicles in the US is not stringent enough to cause significant concern for tanker trades Strong financials from TT Club TT Club, the niche logistics insurer, announced strong financial results this week, with chief executive Paul Neagle declaring a $23M surplus for its 2005 financial year Port of Spain turned over to Portia OVERSIGHT of Trinidad's Port of Spain has been officially turned over to UK-based Portia Management Services after a lengthy bidding process Dover in fast ferry talks DOVER Harbour Board is negotiating with two possible operators of fast ferry services Odense yard struggles but survives ODENSE Steel Shipyard plays an important role for AP Moller-Maersk and will survive in the short term despite poor performance, Fairplay has been advised Egypt offered ferries by Arab states Pemex head pleads for investment Celtic Link look to expand operations AP Møller warning send shares sliding AB Ports rejects Goldman Sachs bid Singapore accedes to bunker convention Liner rates expected to hold firm Berlian Laju to list in Singapore

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MARCH 30, 2006
Box scanner wins favorable reviews But Homeland Security officials tell Senate panel that ICIS radiation detection system not ready for full-scale deployment at global ports. Private sector to aid transport ID card roll-out Koch: Don't limit foreign investment in U.S. ports UPS: Transport network threatens economic growth ABP rejects U.S.-led bid Senate confirms Allen as head of Coast Guard EU, U.S. jointly protest China auto parts tariffs MSC opens Philadelphia call

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MARCH 30, 2006
Patrick files new court action against Toll Patrick Corporation has issued another strident rejection of Toll Holdings' takeover offer by launching a new court action over joint venture Pacific National. Newly-registered TransContainer to focus ambitions on transit Russia's TransContainer is stepping up its ambitions, with a decision to form a joint venture with Finland's VR Cargo, focusing on the Trans-Siberian transit-traffic which has contracted so sharply since 2004. Tianjin Port sees strong results on throughput surge Engine room holds key to Fortune fire ABP reject 'wholly inadequate' offer Brazil's Salvador to gain US$45m terminal Hanjin orders four more panamaxes from Samsung FESCO maps out new orientations TransContainer chairman appointed

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MARCH 30, 2006
Navios mulls NY move Drybulk owner may be leaving Connecticut after more than 20 years, lets go two operations staff as jobs transfered to Greece. Ultrapetrol seeks $175m IPO South American owner of ships, barges, supply boats and cruiseships seeks listing on New York's Nasdaq exchange. US ports "safer" under DP World Dubai deal would have meant better security at American terminals, Homeland Security boss admits. Exmar declares options Belgian shipowner invests another $500m to extend its LNG regasification vessel order book. Scandlines ups profit German-Danish ferry company Scandlines logs a profits in 2005 as it awaits a suitable buyer to appear. Stolt pockets $352m Chemical tanker giant expects to record $80m gain from sale of its share in Marine Harvest NV to John Fredriksen. ETA-Ascon orders again Japan secures another two super panamax bulkers as part of Dubai owner's big fleet expansion plan. Yang Ming logs Yangtze stake Taiwanese boxship owner Yang Ming increases its logistics portfolio in China with purchase of shares in Yangtze River Logistics. Zim starts African run Israeli container line cooperates with Cosco between Italy, Spain and West Africa. Piraeus Port posts profit Profit up at the Piraeus Port Authority but continued good results contingent on keeping workforce from striking. QGTC confirms QMax order Qatar Gas Transport Co takes on its biggest challenge yet. Magsaysay wants more Malaysian shipping group intends to build stake in feedership operator Lorenzo Shipping. Guess who's back? Goldenport of Greece returns to the UK with a renewed attempt to list on the London Stock Exchange. Can Goldenport finish this time? Greek owner Goldenport is once again looking to list in London but has anything really changed since its first failed attempt? Shake-up at NSCSA Finance chief Humoud Al-Ajlan takes over presidency from Khalil Al-Gannas. Israel Corp on the rise Sammy Ofer-controlled company builds earnings and revenues from Zim's boxships in 2005. Ports prepare for Glenda Western Australian iron ore ports batten down the hatches in preparation for tropical cyclone. CSDC confirms tanker orders Hong Kong arm of China Shipping splashing out $560m on VLCCs and handymax tankers. Aker in control Norwegian yard group to build another ROV support ship for domestic owner GEO. Dag replaces Einar Rasmussen junior takes over the reins as managing director at family-owned Norwegian shipping concern. ABP rejects offer UK ports group gives thumbs down to '2.2bn bid from Goldman Sachs-led consortium. Olsson takes-up Ow stake Former Wallenius president exercises option for 10% stake in car carrier owning company.

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MARCH 30, 2006
Senate OKs Allen for Coast Guard job Yang Ming joining U.S. East Coast/East Coast South America market Europe/Caribbean/South America carriers to raise bunker surcharges Overseas Shipholding orders four Aframax tankers OOCL receives 5,888-TEU ship MOL to restructure tanker management Cargo vessels being added to US-VISIT program Lufthansa Cargo's operating profit soars 222% in 2005 Cargo analyst warns airports to get competitive GECAS places $4 billion order with Boeing for up to 60 737s Cathay to start first direct Hong Kong/India cargo flights AMR appoints Horton CFO as part of management reshuffle Bush administration cites "steady progress" on Russia's WTO accession GAO says new DOT programs may improve detection of undeclared hazmat Greenpeace calls out Chinese companies for importing illegal timber ITC investigates possible changes to NAFTA origin rules USDA provides trade help to Washington juice grape growers Chertoff: Small shippers have limited ability to avoid inspections UTi profits up 20% FMC receives 7 OTI applications, revokes 20 licenses ABP rejects tentative offer from consortium California air regulators put price tag on cold-ironing Port of Tyne invests $17 million to expand bulk capacity MSC vessel sets record in New Orleans

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MARCH 30, 2006
Intense aquisition year for A.P. Møller-Mærsk Group A. P. Møller-Mærsk A/S had an intense year in 2005. Although lower than 2004, the group reports a ... Maersk lost stock value A. P. Møller-Mærsk lost approximately DKK 30 billion in value on the Copenhagen Stock Exchange yesterday. The annual report ... The Gdansk Shipyard turmoil continues Polish Energa had not filed a bid for Gdansk Shipyard when the bidding round deadline was passed. That means that ...

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MARCH 30, 2006
Storage operator fined for bunker spill Terminal company IMTT paying US EPA for three oil spills between 2002 and 2004. Colombian market welcomes new terminal Competition heating up as new C.I. International barge terminal commences operation. ARA: Barge operator negotiating 3rd generation newbuild Operator negotiating with several shipyards to construct 6,000 m' capacity bunker tanker with Y-shaped hull. Bunker supplier expands to new Russian port The young Baltic port of Ust-Luga has attracted the services of a bunker supplier. Singapore: Fuel oil inventories hit 11-week low Rotterdam market still climbing at midday Maritime security workshop precedes Tanker Event Shipowners at an event in Singapore continue to display concerns over piracy cases in the Malacca Strait. Singapore accedes to Bunker Convention The Convention will ensure adequate compensation for persons who suffer damage caused by bunker oil pollution.