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Panama expansion paves way for bigger vessels
Panama's historic US$5.3 billion expansion of its 93-year-old canal, which will double its capacity, will redefine not only the current 'Panamax' container ship, but also container trade patterns, according to a new study.
ASF appoints Cosco exec as secretary general
The Asian Shipowners Forum (ASF) - representing nearly half the world's cargo carrying fleet - has appointed the first secretary general for its nearly established permanent secretariat here.
Overseas Shipping Q2 profit up 31%
Overseas Shipholding Group (OSG), the largest US-based oil-tanker owner, said second quarter profit rose 31 per cent on higher spot rates for its so-called Very Large Crude Carriers (VLCCs) and smaller Aframax and dry-bulk vessels.

Admiralty Casebook

ABS faulted for issuing certificate prematurely
THE failure to complete a full load endurance test on the accommodation platform Safe Concordia after it was built by Keppel Fels more than two years ago was one of the contributing factors for two electrical fires on a voyage later that year, according to an Australian investigation report last month.

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Shipping News

Panama expansion paves way for bigger vessels
Panama's historic US$5.3 billion expansion of its 93-year-old canal, which will double its capacity, will redefine not only the current 'Panamax' container ship, but also container trade patterns, according to a new study.
ASF appoints Cosco exec as secretary general
The Asian Shipowners Forum (ASF) - representing nearly half the world's cargo carrying fleet - has appointed the first secretary general for its nearly established permanent secretariat here.
Overseas Shipping Q2 profit up 31%
Overseas Shipholding Group (OSG), the largest US-based oil-tanker owner, said second quarter profit rose 31 per cent on higher spot rates for its so-called Very Large Crude Carriers (VLCCs) and smaller Aframax and dry-bulk vessels.

Admiralty Casebook

ABS faulted for issuing certificate prematurely
THE failure to complete a full load endurance test on the accommodation platform Safe Concordia after it was built by Keppel Fels more than two years ago was one of the contributing factors for two electrical fires on a voyage later that year, according to an Australian investigation report last month.

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LA, Long Beach braces for work stoppage as negotiations flounder Damco Sea & Air integrates with Maersk Logistics to form new Damco Northport calls for double tracking to boost capacity Vanguard Logistics launches e-commerce portal in Asia MOL's new training vessel takes to the seas UAL second quarter profit soars 130pc to US$274 million Swift's SAM service proves itself in Far East-Africa trade Spike in Zhengzhou conferences brings 37pc rise in air traffic

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CMA CGM to impose PSS on Vasco service linking JNP to S. America Dry bulk freight rates poised to scale new peaks Crude shipping rates sink Palm oil Customs duty cut to 45 pc Rising rupee drags down textile exports Deal struck to export 30,000 tonnes of soyameal Vizag Port posts MoP handling record 7 global consultants offer services for Bengal deepsea port Dedicated cargo airports catch private sector's fancy Road freight rates to South go climbing Use of old machinery in SEZ units may be allowed with tax sops Areas under irrigation in state not to be acquired for SEZs High corporate taxes may affect flow of FDI DEPB credit limit hike for exporters hinted at Strengthened rupee may swallow Rs 1 lakh cr., lead to massive retrenchment, finds Commerce Ministry's survey

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JULY 26, 2007
Eagle pays US$1bn for newbuilding fleet Cosco man to run Asian Shipowners Forum Kiwi ferry master fined Another US magic pipe conviction Strike club offers loss of earnings cover

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JULY 26, 2007
Final negotiations for U.S. Gulf FPSO COSCO christens Asia's first 10,000 TEU box ship Aker Yards to build PSV for Portosalvo

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JULY 26, 2007
Port of Tacoma planning new terminal for NYK Line NOL announces plans to build eight container ships NASSCO nets Navy contract for material for tenth T-AKE vessel Port of Anacortes project clears all regulatory hurdles Steel imports down for month of May

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JULY 26, 2007
Cosco gears up for acquisition CHINA Cosco Holdings set to issue new shares to fund $10.5bn purchase of its parent's dry bulk carrier unit. Cosco debut surges in Shanghai NYK to lease new terminal at Port of Tacoma NYK offshoot Yusen Terminal Tacoma is to lease new $300m box terminal at the US port. Petronas cool over failed Centrica deal MALAYSIAN group says collapse of $8.25bn LNG deal with Centrica will have no impact on it or MISC. Globetrotter Polemis talks communication THE chairman of the ICS and president of the ISF says it is vital to raise the profile of both organisations. Awake and alert THE proposal for the mandatory provision of watch alarms onboard ships does not address the problem of fatigue.

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JULY 26, 2007
Atlantic hurricane forecast reduced ONE storm prognosticator has cut the Atlantic hurricane forecast for the remainder of the season RCCL sees cruise fears easing ROYAL Caribbean Cruises Ltd lifted its net profit for the second quarter to $128.7M from $122.4M in 2Q06, as fears for the revenue environment eased MarAd, USCG programmes pass muster MARAD and the US Coast Guard received pass marks this week during assessments of their programmes by the Office of Management & Budget Baltic indices break records again THE Baltic indices headed for new records today: after faltering last week, the Baltic Exchange Dry Index rose to its highest level ever Two lost as lighter sinks LA, LB confusion over strike Strong first quarter for NYK Chemoil to invest $60M in Fujairah ASF Sec-Gen Wang to be Asia's voice Vinalines to acquire Japanese Handies Star Reefers posts strong 2Q Israeli strike ends

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JULY 26, 2007
NEW LABOR CONTRACT AVERTS STRIKE BY CLERKS AT PORT OF LA-LONG BEACH ILWU clerical workers, shipping lines agree to new three-year labor contract. Tacoma plans NYK box hub NYK, "K" Line raise forecasts MOL Logistics, Kintetsu in N. America airfreight pact CMA CGM adds Vasco Express peak surcharge Carriers link N. China, India Port of Charleston adds India sales representative Lufthansa cargo profit to gain ILA to put local under trustee Panalpina in U.S. fraud probe Northwest ups fuel charge

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JULY 26, 2007
Cheng Lie to enter China/India trade Impasse reached at LA and Long Beach clerical workers talks Panalpina shares fall in Nigerian bribery investigations Maersk revamps USEC/East Med/Middle-East services Israeli ports reopen after general strike ends

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JULY 26, 2007
Matson leads A&B Alexander & Baldwin credits Matson's China service with boosting the bottom line but predicts a weaker second half. Gas deal at Zeebrugge Nicolas Saverys-led Exmar admits a weak first half and signs up to build gas import infrastructure on Belgian home turf. RCCL revises forecasts Profits rise 5% in latest quarter but bunker prices rein in predictions for the full year. Sales boost Bocimar Benoit Timmermans-led Bocimar and partner JB Ugland have sold two bulkers under construction in China. DD World snaps up PUM Entire shareholding in Pan-United Marine set to be taken over by Dubai Drydocks after offer accepted. Escrow angst for Clarksons Shipbroker fights raid on pot by ex-employee Tim Huxley as battle for disputed commissions hots up. Offshore drives Keppel Singapore yard records 27% leap in second-quarter net income with orderbook at record high. Spot the difference at Star Oslo-listed reefer giant sees second-quarter net income jump 15% as bananas boost spot rates. Disposals lift Danaos Gains from the sale of ships, plus an expanded fleet, help lift profits at John Coustas outfit. K Line capitalizes Shipowner sees profits more than double on the back of favourable growth in the global economy. Aker bags PSV order UK-based subsidiary of Italy's Rimorchiatori Napoletani also holds option at Norwegian yard. Pride buys Ofer drillship Tanker Pacific to earn $108.5m "acquisition fee" after selling newbuilding to US drilling giant. NYK's profits jump Japanese owner sees financial performance improve on bigger fleet and increased cargo volumes.

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JULY 26, 2007
Japanese carriers ride profit wave Textainer deal part of hot container sector ISC to end Forest Line's LASH service Vessel sales boost Danaos' first half profit OSG reports higher profits American Commercial Lines sees profits dip as revenues rise Kirby posts record profit Wan Hai and partners starting another Far East/Chennai link OceanFreight reports first results IPBCC drops Rotterdam congestion surcharge Eagle more than doubles size of fleet COSCO's Wang named Asian Shipowners Forum's first secretary general CBP textile enforcement teams head to Hong Kong Wal-Mart Canada to score suppliers on "green shipping" Quantrill takes top job at BIFA Levi's sues Polo over pocket stitching Cocaine shipment seized in Charleston, S.C. KOM International hires McGinnis to work out of new Toronto office S. Calif. ports, area businesses await ILWU strike decision Long Beach port proposes record $644 million budget Tacoma to build terminal for NYK terminal operator subsidiary Alameda Corridor East loses out on federal funding Port of Rotterdam sees 13% rise in containers New York faces shortage of dry docks

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JULY 26, 2007
Maersk Line opens new transit terminal in Tangier APM Terminals in the A. P. Møller-Mærsk has opened a new deep-sea container terminal in Tangier, Morocco, close to the ... Indian citizen as captains on Danish tankers D/S Torm of Copenhagen has achieved the first permit to use non-European citizens as captains on Danish flagged vessels ...

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JULY 26, 2007
Cruise line fuel costs up 8% Royal Caribbean increasing hedging and predicting escalating future prices. China launches another oil exchange Dalian Petroleum Exchange opens for fuel oil spot transactions, but traders are skeptical. Service launched to plug Black Sea supply gaps New venture formed to offer bunkers offshore on Black Sea shipping routes. Japanese lines upbeat on profits Raise full-year profit forecast despite rising fuel cost after solid Q1 performance. Rotterdam market firm after crude jump Crude jumps on draw in key US stock Traders focus on stock draw in Cushing, Oklahoma, where benchmark US light crude is priced. Singapore residual fuel stocks up Stocks of middle distillates fall in the week to July 25. Indian bunker project still facing hurdles Cochin Port Trust had to revise draft documents after guidelines changed. Singapore demand climbs as prices soften Buyers fix forward deals 'on expectations prices will rise'