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Shipping News

China demand to boost product tanker rates
Asian hiring rates for oil product tankers may rise this week on expectations demand will increase, led by China.
Commodities shipping rates may rise
Shipping rates for commodities may gain for a third week on a lower supply of ships because of port bottlenecks and transport demand for iron ore and grains.
Daewoo sees lower LNG ship demand
Daewoo Shipbuilding and Marine Engineering Co, the world's third largest shipyard, expects demand for ships that carry liquefied natural gas (LNG) to slow this year because of delays in LNG projects.

Strait Talk

Anniversaries that give food for thought
LAST week, there was a poignant coincidence of anniversaries. March 6 marked the 60th anniversary of the adoption of the international convention that established what is now known as the International Maritime Organization (IMO).

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Shipping News

China demand to boost product tanker rates
Asian hiring rates for oil product tankers may rise this week on expectations demand will increase, led by China.
Commodities shipping rates may rise
Shipping rates for commodities may gain for a third week on a lower supply of ships because of port bottlenecks and transport demand for iron ore and grains.
Daewoo sees lower LNG ship demand
Daewoo Shipbuilding and Marine Engineering Co, the world's third largest shipyard, expects demand for ships that carry liquefied natural gas (LNG) to slow this year because of delays in LNG projects.

Strait Talk

Anniversaries that give food for thought
LAST week, there was a poignant coincidence of anniversaries. March 6 marked the 60th anniversary of the adoption of the international convention that established what is now known as the International Maritime Organization (IMO).

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Asia-West Africa Trade Agreement raises rates April 15 Russia's NCC volume rises 24pc to 270,849 TEU - Ukraine CT 50pc up Zhanjiang port builds terminal with 800,000 TEU annual capacity Tianjin port to be expanded to 100 square kilometres by 2010 Japanese companies expand network in China Vladivostok container volume up 47pc in January and February Caribbean trade slumps with low dollar and high oil Geodis opens French distribution centre for toy maker Meccano New Orleans to spend US$1 billion until 2020 on port upgrade Lufthansa Cargo to serve Nanjing, Shenyang, Malabo, Seattle, Calgary Boeing delivers 700th 777 aircraft to ILFC/Cathay Pacific Singapore Changi's Terminal 3 attracts four more airlines Russian airline-airport money dispute threatens alliance

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Double honour for JBS Group at Gujarat Logistics Awards 2007 Asia-Europe container trade growth to stay on track-Report Dimensions Logistics in strategic tie-up with Ipsen Logistics Group Curbs placed on rice exports Major Ports poised to launch projects for operational efficiency Major Ports in a whole new ball game from today! AEL imports highest quantity of pulses thru' Mundra Port Textile workers getting relief, says Minister Japan to extend Rs 7,074 cr. in soft loans for 7 projects Finance Ministry may enforce sunset clause on tax breaks for STPIs & EOUs 10 more integrated textile parks to come up in XI Plan GST may be 14 pc, indicates FM

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MARCH 11, 2008
Panalpina appoints Marco Gadola as new group CFO Newbuilding for Maersk Promising outlook for MASkargo Interstream Barging to integrate Vopak Barging Europe Another record result for K+N SITL starts in Paris today, come and visit the ITJ at stand L-100

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MARCH 11, 2008
EU tonnage tax rules warning Pirates swarm round bulker MOL's new Asia services Good year for Norden Cargo ship ashore in N Europe storms Statoil set to charter Farstad PSV from Aker

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MARCH 11, 2008
VT Halter Marine in Raytheon-led FRC-B team Two cruise lines to refund fuel surcharges FLEX LNG ups ship size Aker Yards books order for LNG powered PSV

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MARCH 11, 2008
Scrap rates surge to new high DEMOLITION rates have rocketed to all-time levels as shipowners refuse to scrap their ageing 'cash cows'. Breakers offer top dollar as records fall BIMCO's Melchiors 'relieved of duties' SURPRISE move sees secretary-general Carsten Melchiors replaced by industry veteran Torben C Skaanild. LA traffic at risk over dirty trucks row CONTAINERS could be diverted to adjacent Long Beach unless split between ports is resolved soon. Still cruisin' but dark clouds may be looming REGULATION, taxation and the environment will be high on the agenda at the Seatrade Cruise Convention. Rule change threat to cruise ports AMERICAN ports tightened their links with the cruise industry following September 11, 2001, as the fear-of-flying factor took hold.

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MARCH 11, 2008
Gas price to soar as CNG takes over Compressed Natural Gas (CNG) will take over from LNG within the next 15 years as the main way to transport gas in the Mediterranean and elsewhere Prodigal Greeks return to home flag GREEK owners have notched up record tonnage increases and newbuilding orders over the past year, and are also returning to the Greek flag, a new annual report shows GAC breaks into Lanka bunker market GAC Ships has been selected by the Ceylon Petroleum Corp as a joint venture partner to sell bunkers in Colombo port in a move that is expected to bring down prices, now among the highest in the region Shanghai set for No.1 box crown THERE is a good chance that the port of Shanghai may move ahead of Singapore in the race to handle the most containers in 2008 California ignores Fed court ruling CALIFORNIA is continuing to enforce the use of low-sulphur fuel in auxiliary engines within 24n-m of the coast, despite a federal court ruling that the regulation is invalid MOL lines up trio of new services MOL has announced the introduction of three new Asia-Middle East services, all starting in April 2008 Subic Freeport ups bunker capacity Russia joins billionaires club Maro splits into three off Spain Brazil faces piracy surge Chevron to meet Thai LNG needs Chemoil to increase Fujairah capacity Minister facing gambling rap

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MARCH 11, 2008
Maersk upgrades U.S.-Middle East Maersk Line adds vessel, changes rotation on MECL2 service between Mideast, Mediterranean, and U.S. East Coast. Report says global warming threatens transportation Trade deficit edges up MOL consolidates Asia-Mideast liner services NAFTA trade off in '07 Demand drives Danaos net New government relations manager for Houston port A.P. Moller names new 7,000-TEU container ship Washington state apple export prices increase BIMCO replaces Melchiors Americas traffic powers Lufthansa cargo increase

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MARCH 11, 2008
K+N still growing strongly MOL sets sail with three new Asia ' Middle East services Maersk adds vessel, upgrades Middle East ' US East Coast route Australia's ABB follows the boxes German rail strike called off but public sector dispute continues

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MARCH 11, 2008
Royal backs down Royal Caribbean Cruises will revise a controversial fuel supplement for some passengers. Dry-bulk soars US-listed bulker owners see their shares climb steeply as Wall Street reacts to the Fed with a bullish day of trading. Horizon tackles fuel costs US containership operator unveils plan to boost fuel efficiency and recover costs as bunker prices rise. Cautious Coustas Danaos head taking a careful stance on any future moves in the sale-and- purchase market for containerships. Danaos fixtures impress Dahlman Rose analyst says US-listed boxship owner's results show a strong market, but he slashes the company's target price. Melchiors shown the door After clashing with president Philip Embiricos on policy issues BIMCO secretary general steps down with immediate effect. Deficient dozen Australian port state inspectors round up 12 ships that failed safety checks in February. US dockers plan war walkout West coast ports face shutdown on May Day in union protest at Iraq war. German ship in drugs bust Master of boxship given $1m bail in Trinidad after second drugs find on same vessel in five months. Quintana schedules vote US-listed bulker owner's shareholders will have their say in April on the bid by Excel Maritime Carriers. Better all round for DFDS Each of Danish ro-ro player's five divisions returned more profit in strong 2007. Life lead Lloyd's Register and UK Club get together to tackle lifesaving issues. Fredriksen sells VLCC Ship Finance International cashes in on single-skin but sees the sale of another tanker collapse. Weather delays Artemis re-float "Highest tide in a while" on Tuesday now deemed best time to lift stranded Dutch ship off French beach. Norden tackles 'conservative' tag Danish owner defends 2008 forecast as share price slips in 'most volatile market we have ever seen.' Farstad close to five-year fix Karl-Johan Bakken-led offshore owner close to securing long-term deal for newbuilding. Yantai Marine up for grabs Cosco and Hainan Airlines vying for stake in Chinese boxship owner ahead of listing. Wanted: mechanical engineers Philippines urged to convert land-based engineers into pool of maritime talent to solve crew crisis. Hallin on a high John Giddens-led offshore player posts record figures as long-term charter ploy pays off. DOF goes green at Aker Oslo-listed offshore owner inks LNG-powered unit at Norwegian yard and immediately fixes it for five years. Acergy finds new chief Oslo-listed offshore owner names ex-Transocean man Jean Cahuzac as chief executive. SCI wants red tape cut away Indian owner desperate for rule change to allow it to order vessels at newly-built yards. USCG calls off search Search for Florida woman who jumped from Costa cruise ship will only resume 'if new information comes to light.' Daewoo adds eight European owner orders 4,000-teu octet at Korean yard for delivery by 2011. MOL doubles up Japanese liner company is bolstering its links between Asia and the Middle East to six strings. Horn denies wrongdoing Head of Ukraine's Chernomorsky rejects claim of illegal privatisation of 61 Communards yard. Japan takes a breather Export orders at major shipbuilders slow to 1.3mgt, but bulkers still dominate order intake. Seadrill eats more SapuraCrest For the second time in less than a week Fredriksen firm snaps up more stock in Malaysian firm. Esvagt makes acquisition AP Moller-Maersk unit buys ex-Falklands fishery patrol craft for conversion to crew change ship.

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MARCH 11, 2008
Battle over Hapag-Lloyd heats up TORM completes 50% FR8 acquisition Matson ups fuel surcharge to new record TACA maintains BAF, CAF Maersk yard delivers 7,000-TEU ship Customs at Port of Spain find drugs attached to ship hull American Airlines Cargo raising fuel surcharge Cargolux increasing fuel surcharge Mexico prepares to pressure U.S. on cross-border trucking ITC investigates U.S.-Chile FTA origin rules, ag tariff changes CBP sets 2008 canned tuna quota CEVA subsidiary SCG names new CFO, operations VP Panalpina appoints Gadola as new CFO Davies Turner increases garment trailer fleet for U.K./Morocco trade Port of New Orleans unveils new master plan Ports of Busan, Dafeng sign MOU ILWU plans May Day stoppage Moynihan to retire from Port of Richmond Lytle in line for Long Beach port's No. 2 position Baxter takes Peel Ports reins Chambers named Port of Houston government relations manager

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MARCH 11, 2008
Norden posts gigantic profit growth D/S Norden continues to amaze with its performance in 2007. In 2007, the profit was so high that the company's board and management has decided that every Norden employee will be awarded three months' extra pay on average as ... More ports ' then Russian fleet can grow The Russian government program for the modernisation of the country's transport systems has been extended until 2015. The program for the development of sea transport includes an increase in port capacity so that it is 17 per cent larger than ... Port of Tallinn extends tender period AS Tallinna Sadam (Port of Tallinn) has extended the period for the state procurement process involving the construction of a terminal until 15 April. The port company has received six offers. The objective is to build a new container terminal ...

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MARCH 11, 2008
First double-hull barge for Durban Smit Amandla Marine's double-hull vessel signals new era for South African delivery fleet. Japan turns to emissions trading Environment minister says industries that invest in green technology should be rewarded. California to enforce struck-down fuel rules Agency citing federal rules to keep auxiliary engine regulations in play despite court ruling. Bunker market report from Praxis No IFO bunkers at Paranagua Supplies tight in two Brazilian ports but Santos is back to normal. Rotterdam market remains firm Fishermen threaten port blockade over fuel costs Regional government minister rules out fuel subsidiaries and points to 'fuel efficiencies' as best way forward. Cosmo to reduce bunker output The Japanese refiner will cut bunker fuel output by 10,000-15,000 mt per month. New double-hulled tanker for Aegean Company says it will be taking delivery of seven other new-builds in the course of the year. Oil storage project for Jebel Ali Port's bunker market set to grow on planned expansion at the port.