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Shipping News

Caribbean tanker rate hits 11-month high
The rate to transport oil from the Caribbean on Aframax ships rose to an 11-month high as demand exceeded the supply of vessels in the region.
Asciano to spend A$529m expanding rail transport for coal
Asciano Ltd, Australia's largest port and rail operator, will spend A$529 million (S$674.5 million) expanding into coal transport in Queensland state as Asia's demand for the fuel surges.
Sinotrans sells stake
Sinotrans Air Transportation Development said yesterday that it has agreed to sell its entire 50 per cent stake in a freight forwarding unit to a Deutsche Post subsidiary for 61.05 million euros (S$129.1 million).

Strait Talk

Common sense prevails - at last
GENERALLY speaking, International Maritime Organization (IMO) conventions, regulations, guidelines and codes are the product of painstaking work by technically qualified experts based on their knowledge and understanding of the issues and the shipping industry. That is one of the key strengths of this United Nations agency.

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Shipping News

Caribbean tanker rate hits 11-month high
The rate to transport oil from the Caribbean on Aframax ships rose to an 11-month high as demand exceeded the supply of vessels in the region.
Asciano to spend A$529m expanding rail transport for coal
Asciano Ltd, Australia's largest port and rail operator, will spend A$529 million (S$674.5 million) expanding into coal transport in Queensland state as Asia's demand for the fuel surges.
Sinotrans sells stake
Sinotrans Air Transportation Development said yesterday that it has agreed to sell its entire 50 per cent stake in a freight forwarding unit to a Deutsche Post subsidiary for 61.05 million euros (S$129.1 million).

Strait Talk

Common sense prevails - at last
GENERALLY speaking, International Maritime Organization (IMO) conventions, regulations, guidelines and codes are the product of painstaking work by technically qualified experts based on their knowledge and understanding of the issues and the shipping industry. That is one of the key strengths of this United Nations agency.

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New World Alliance shipping lines to cut more capacity via Panama China road transport rate up 1.8 pc in November, says NDRC Shandong seaports volume to surpass 11 million TEU in 2007 Hainan starts work on new logistics centre Grand Alliance cuts UK direct calls as congestion mounts War risk insurer Hellenic to cut premium rates to 2002 levels GAC Group opens 13 shipping agency offices across Australia Continental applies to operate daily from Houston to Bogota California agricultural shippers look to passenger service changes Australia goes slow on 100pc air cargo screening for explosives

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Embassy group to focus on India Switzerland keen on FTA with India Govt to allocate Rs 750 cr. for 5 jetties at Diamond harbour DFBOT model for Bengal seaport mooted GTI's tidings of great joy! GMB entitled to charitable institution status, holds SC State govt putting Nagpur cargo hub initiative on fast track Freight corridor-II to start soon-Lalu Railways confident of achieving freight earning target 2-day meet on building warehousing competitiveness ICD-Loni emerging as important ex-im trade facilitator PM permits study for rail corridor from Mumbai to Kanyakumari Govt considering more export services for tax relief Govt earmarks Rs 167 bn for roads, bridges Foreign Trade Policy Analysis: Current Trends - By M. Sreedharan

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DECEMBER 11, 2007
TFG Transfracht names regional director for Switzerland Financing of container terminal in Damietta Alitalia bids are in Railion launches freight services on Betuwe line FFG Hillebrand changes name

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DECEMBER 11, 2007
Macao court suspends CotaiJet ferry service Sneak tax attack on U.S.-flag shipping Bisso Marine launches four tugs

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DECEMBER 11, 2007
Samsung urged to take lead in clean-up V.SHIPS puts pressure on barge owner to lead clean-up operations after speculation it may snub meeting called by South Korean government. Apollo buys Regent Seven Seas Cruises US investment group expands its portfolio of cruiseship companies IFM warns Brussels over class ruling FRANCE'S maritime body warns that efforts to force class societies mutual recognition of shipboard marine equipment classification represent a 'serious threat' safety.

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DECEMBER 11, 2007
Tanker market takes off After a year of sluggish performance, the tanker market is suddenly perking up Costa puts second ship into Asia CARNIVAL subsidiary Costa is to put the Costa Classica into Asia from 2009, doubling its presence there Iran sells out of Tidewater IRAN'S maritime administration, the Ports & Shipping Organisation, is to sell its entire holding in Tidewater Ports and Marine Services Co Nigerian pirates up the ante THE industry is being warned over two serious incidents off Lagos, Nigeria, in one of which pirates took hostages, shot at the master and threatened more attacks at his next port of call DVB nominates sector leaders GERMAN transport bank DVB is in the final stages of an organisational shake-up which will see the group's shipping division divided into sector specialist teams California adamant on cold ironing CALIFORNIA'S air pollution watchdog has approved tough cold ironing regulations for container, passenger and reefer ships calling at the state's six main ports from 2010 Cruise ship collides with barge Green dispute delays shortsea scheme Baltic gets its feet wet L&T finds partner for VLCC shipyard STX Pan Ocean targets $100M Russian maritime left headless Captain was advised to move tanker

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DECEMBER 11, 2007
Peak season falls flat at West Coast ports Oakland and Portland experienced moderate growth in October, while LA-Long Beach and Seattle-Tacoma suffered another month of declines. Italy truck strike spreads U.S., China in safety pacts Deutsche Post buys out Sinotrans in forwarder JV NYK starts Baltic feeder FreightDesk in Jordan pact Rise in trans-Atlantic air rates New problems for Chennai O-H Logistics expands in Atlanta States investigate New York Waterfront Commission Mumbai boxes decline

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DECEMBER 11, 2007
Regulatory delay hits CN purchase of Chicago railway NCC Black Sea ports surge by 40% Khor Fakkan welcomes CSAV vessels DVB's new organisation effective from January 1, 2008 Italian truck strike causes chaos for freight

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DECEMBER 11, 2007
Horizon Lines plunges Stock price at US containership owner shrinks by 10.3%, a day after downgrade from JPMorgan Securities. Regent deal confirmed New York private equity firm Apollo Management buys up Florida cruise line from Carlson. Macau ferry blocked Court blocks Sheldon Adelson's Cotai Strip Cotaijet less than two weeks into Hong Kong-Macau service. Magic pipes play on Two more bypasses found by US Coast Guard, while a UK-flag LNG carrier is among latest clutch of detainees. More time for crime Brazilian legislature is moving to up the penalties for attacks against shipping. Costa looks east Carnival's Costa Cruises moves a second ship, the Costa Classica, to Asia to serve Chinese passengers. Wilson grabs two more Oslo-listed bulker owner splashes $14m on third German-owned brace in as many months. Tallink secures Danske loan Estonian ferry operator bags EUR 144m, ten-year loan from Danske Bank to fund Aker newbuilding. ECJ: Viking was restricted European Court of Justice rules action against ferry company was a restriction of freedom of establishment. Tankers in short supply? Owners break out the bubbly as Citigroup predicts VLCC demand to outstrip supply as single-skins phased out. Baltic trials dollar tanker index London exchange to introduce assessment for VLCCs based on time-charter equivalents to aid transparency. Li dumps more Cosco stock Asia's richest man will bank $450m from latest share sale as he continues to shed China Cosco holding. Sea-Invest buys again Belgian stevedoring company adds French tanker player Petromarine to recent acquisition of Fouquet Sacop. 'Recovery could take years' Greens warn South Korea may need over a decade to recover following its worst ever oil spill. Top banks $69.5m Nasdaq-listed owner gets a boost at the end of its share offer but returns still fall short of expectations. JES prices high Chinese shipbuilder launches Singapore IPO at top end of analysts' estimates. TUI claims Babcock victory German parent of Hapag-Lloyd says district court has thrown out insolvency case brought by liquidators. Cosco to pay up over sinking Swedish coastguard wins SEK 29.5 for anti-pollution efforts following Fu Shan Hai loss off Denmark in 2003. Ramakrishnan gets wet feet Shreyas Shipping & Logistics looks for a $15m entry into the tanker market after inking an accord for a second hand unit. Baltnautic must sharpen up UK accident investigators urge Lithuanian manager to improve watchkeeping after fatal clash with fishing boat. WSF oldies to be scrapped Washington state ruling means end of the line for 80-year-old quartet pulled from service with corroded hulls. NCL ship in Uruguay collision Boxes and vehicles lost from barge outside Montevideo after collision with cruise ship with 1,700 passengers onboard. More gloom for IHI Under-pressure Japanese shipbuilder will restate 2006/7 earnings to reflect loss on engineering projects. Two more for Damen AMS of Australia adds tug duo to Dutch shipbuilder's swelling orderbook. Volumes jump at NOL Singapore liner operator says it carried 15% more containers in the past month compared to a year ago. NYK eyes St Petersburg Japanese shipowner to launch a new feeder service in the Baltic via a slot chartering agreement. Step up to the plate Hosco and V Ships call on Samsung Group to take the lead in Hebei Spirit clean-up operation.

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DECEMBER 11, 2007
New World Alliance, CMA CGM reducing Asia/U.S. East Coast capacity UNCTAD: World ocean trade increased 4.3% in 2006 Maersk moving two ships from container to bulk trade APL's average box revenue up 12% Danaos orders three 10,100-TEU boxships from Hyundai Samho British Airways World Cargo adds Dubai service WCO seeks 'constructive engagement' on 100% scanning Deutsche Bahn rebrands all units GAC Marine Logistics opening Rotterdam warehouse Port of Miami contemplates public-private ventures Spitzer orders investigation of N.Y. Waterfront Commission SoCal ports to consider low-sulfur fuel regs for cargo vessel CARB approves new port truck, vessel emission regulations Brinson: S.C.-Ga. port merger a "fresh idea" Panama port box volumes up 40% U.S. Coast Guard: COSCO Busan pilot "not physically competent" Portland port to sell headquarters building

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DECEMBER 11, 2007
Antares out of service The Norwegian ro/ro vessel Antares hit the seabed at Monday evening, shortly after it departed from Åbo. The vessel thereafter returned to the port for inspection, it will now be docked due to repair. Antares was on is way ... Record orderbooks but hardly any profits Despite a record orderbook of between NOK 60 and 70 billion Norwegian yards hardly has any profit to show for it. Orders from the offshore industry dominate the yards and, according to Møreforskning (Møre Research) both the offshore operators and ...

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DECEMBER 11, 2007
More fuel switching in the future predicted Industry poll seeing greater distillate fuel use, but uncertainty ahead of IMO revisions. High freight rates hit arbitrage North European fuel oil market sees few fuel oil export opportunities. Barge congestion in Black Sea port Four barges out of action in Novorossiysk, according to reports. Compensation agreed four years after bunker spill Cosco agrees to contribute over $9 million to clean-up costs. Rotterdam edges higher at midday Hyundai's bunker fuel supply to resume next week South Korean refiner's bunker supply affected by major spill last Friday. Indonesian refiner to introduce 380 cst Pertamina hopes to increase regional market share through offering 380 cst bunker grade from early next year. Korean tanker hull rule unchanged Maritime ministry has no intention to accelerate phase-out of single-hulled oil tankers after recent major oil spill.