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Persian Gulf tanker rates may halt 13-day slide
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may end a 13-day slump because returns from leasing vessels have fallen below levels where owners make a profit.
Brazil, India the top users of offshore oil rigs in July
Brazil and India were the biggest users of offshore oil rigs in July as Petroleo Brasileiro SA drilled the Americas' biggest discovery in three decades and Reliance Industries Ltd started developing a coastal field.
Port shots
D/S Torm A/S, the world's biggest operator of ocean-going petrol and diesel tankers, climbed the most in 20 months in Copenhagen trading after raising its full- year profit forecast to a record.

Shipping Times

TNT jumps on report UPS is in talks to buy Dutch firm
TNT NV, Europe's second-biggest express-delivery service, rose to a 51/2-month high in Amsterdam trading after a UK newspaper reported that United Parcel Service Inc (UPS) held initial talks to buy the company for 10 billion euros (S$21.12 billion).
US House hearings for UPS-DHL pact
United Parcel Service Inc's plan to take over Deutsche Post AG's US air shipments will be reviewed in hearings next month before two congressional committees.

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Shipping News

Persian Gulf tanker rates may halt 13-day slide
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may end a 13-day slump because returns from leasing vessels have fallen below levels where owners make a profit.
Brazil, India the top users of offshore oil rigs in July
Brazil and India were the biggest users of offshore oil rigs in July as Petroleo Brasileiro SA drilled the Americas' biggest discovery in three decades and Reliance Industries Ltd started developing a coastal field.
Port shots
D/S Torm A/S, the world's biggest operator of ocean-going petrol and diesel tankers, climbed the most in 20 months in Copenhagen trading after raising its full- year profit forecast to a record.

Shipping Times

TNT jumps on report UPS is in talks to buy Dutch firm
TNT NV, Europe's second-biggest express-delivery service, rose to a 51/2-month high in Amsterdam trading after a UK newspaper reported that United Parcel Service Inc (UPS) held initial talks to buy the company for 10 billion euros (S$21.12 billion).
US House hearings for UPS-DHL pact
United Parcel Service Inc's plan to take over Deutsche Post AG's US air shipments will be reviewed in hearings next month before two congressional committees.

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US retail ports expected to see cargo shrink 4pc in 2008 AADA levies peak season surcharge in China-Australia trade Hapag Lloyd books open to NOL in new stage of bidding TNT refuses to confirm or deny reported UPS merger talks UASC takes delivery of 6,919-TEU newbuilding APL Logistics's OceanGuaranteed adds Guangzhou as main port Chongqing builds massive road, rail, air, sea hub facilities India, SE Asia to grow, but China will dominate American imports: study Murmansk port sees July's cargo rise 3pc ICTSI's Black Sea terminal in Georgia adds two harbour cranes NY-NJ port launches forward-looking study on cargo volume Asia, Mideast airlines bright spot in global cargo standings WFS to handle cargo for Egyptair in Paris Irish pursue Lufthansa, Swiss for wrongful air rates in US, Canada

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Maersk Line gears up to augment capacity on Europe-West Africa routes MSC to use larger ships on Europe-South Africa service OOCL launches new Surabaya Feeder Service (SBY) CSCL cuts capacity from transpacific AAC loop Daewoo clinches 766-bn won deal Hutchison to develop Greek terminal DP World to invest A $ 250 m in Brisbane port Port of Hamburg acquires 2nd LHM 500 crane to handle heavy cargoes with ease & efficiency Cosco expedites service by cutting out canal at Balboa APL's boxes one bright spot in NOL's profit FEFC, CTSA, Matson announce BAF and CAF changes U-Freight upbeat on Intra-Asian trade report UACC appoints new CEO Seatrade Entries close on Aug. 15 India, Asean resolve differences over FTA Asean FTA will raise Indo-Thai trade to $ 10 bn a year-Official CWC to strengthen presence in rail logistics-Pattanaik MF assets fall by 6 pc Problems facing economy are short-term-Official CBDT fine-tuning procedure to identify tax evasion by corporates ECGC's marine insurance cover popular with exporters-CMD Pranab promises changes in law to boost engineering goods exports State-specific SEZ law soon WTO chief arrives today to revive failed talks

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AUGUST 11, 2008
Freight volume in port of Antwerp up Qatar Airways restarts Frankfurt-Doha freighter flights Etihad appoints Belarus GSA Logwin profits down in H1/2008 2008 Fiata World Congress, Vancouver (Canada), 23-26 September

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AUGUST 11, 2008
Poti set to reopen North of England claims 9% of market The Cook Islands join IMO NOL steps closer to Hapag-Lloyd take-over Better spot rates boost Nordic American STX set to clinch Aker take-over Fairplay and Multraship join forces Hutchison set to run Thessaloniki

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AUGUST 11, 2008
Perdido spar heads for deepwater U.S. Shipping Partners names new CEO Russia sinks Georgian missile boat Meyer Werft undocks Celebrity Solstice

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AUGUST 11, 2008
NOL remains in running to acquire Hapag-Lloyd box business "K" line to become partner in Quanzhou ship repair business Port of Tacoma magazine ready to view online Port Metro Vancouver releases mid-year numbers Horizon Lines celebrates 50 years in Puerto Rico

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AUGUST 11, 2008
Excel income leaps 534% in second quarter EXCEL Maritime Carriers' net income soars to $127m following Quintana takeover. Excel faces $1.4m bill for Angela Star grounding Updated: Georgia war hits Azeri oil exports SUPSA and Batumi reduced to partial operation while Poti has shutdown following Georgia-Russia conflict. Tui continues row with Fredriksen TUI threatens to sue John Fredriksen, should he ask for an injunction against the planned sale of Hapag.

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AUGUST 11, 2008
US domestic gas stifles LNG THE US market appears to be flush with domestic natural gas, raising more questions on LNG terminal plans and LNG cargos from Trinidad and other suppliers Ex-officer accuses Royal Caribbean A former officer has accused Royal Caribbean of exposing passengers and crew to life-threatening gas following an accident aboard the Monarch of the Seas Danes upbeat on bulk markets DENMARK's dry bulk and product tanker markets are maintaining a strong outlook despite continued uncertainty about the direction of the global economy

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AUGUST 11, 2008
BA, AA seek to forge trans-Atlantic giant For the third time in 10 years, the U.S. and British airlines will seek antitrust immunity for a cargo and passenger alliance. Containers outperform general cargo in Vancouver Asia-Australia lines plan to boost bunker fees Galveston-Texas pilots seek rate hike Lufthansa's cargo volume tumbles JDA Software to acquire i2 Export ABCs: Documentation control Agility to build Shanghai logistics hub for plastics firm UPS dismisses TNT takeover talk China's trade surplus swells Pacific Shipping Trust to raise funds for four boxships

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AUGUST 11, 2008
Box ship charter market slump continues Indian box traffic slowing US box volumes predicated to slump by 4% Bunker costs down 26% TDG H1 profits up 19% despite bid speculation

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AUGUST 11, 2008
Curacao lose out US judge rules against ship repairer in forced labour case brought by Cuban yard workers. Bulked-up profits Dry Bulk Cape Holding, owned by Peter Livanos-controlled DryLog and US-based ISC, tallies tenfold jump in quarterly profits. Pacific Sun doubts Accident investigators change tune over what might have caused cruiseship to roll heavily, injuring over 40 passengers. $200m shelved US-listed tanker owner DHT Maritime files papers to gradually issue stock and debt securities, potentially for fleet expansion. Grenade hits ship Somali pirates fended off by US Navy after planting grenade in bridge of UK-managed bulk-carrier. CEO steps aside Troubled US Shipping Partners picks finance man for chief executive job, although Paul Gridley remains company chairman. Ferry fatality Police and accident investigators asking why electrician on DFDS' Ark Forwarder was killed by watertight door. COO sells Carnival Corp chief operating officer offloads $2.61m worth of company stock. Quintana effect Profit and revenue take quantum leap at Stamatis Molaris-led Excel following $2.45bn takeover of rival last year. Ferry re-floated A ferry is re-floated off Maine after 96 passengers were evacuated in a late-night grounding. Master sues RCCL Cruise giant landed with law suit by Norwegian captain after incident in LA in 2005 which killed three. Buying more Ahead of merger meeting, Marathon Acquisition adds $39.7m to a share repurchase program. Bargain buyback Finnish owner ESL dodges high vessel prices to buy bareboat chartered vessel in $22m deal. Polemis poleaxed Greek shipowning family suffer another blow over fortune lost on high risk Russian bonds. Half time show Extraordinary bulker market and ship sales lift first half profit 150% at Torben Janholt-led Lauritzen. TUI to sue? John Fredriksen may face court action if he blocks Hapag-Lloyd sale, reports claim. Sealink sells trio Malaysian shipbuilder and shipowner offloads three units to "established" owners in Europe and Singapore. Torm's bull run Dane shows investors the red rag as bullish profit forecast leads to share stampede. STX books capes Korean bulker player returns to related yard group STX Shipbuilding for double order. Gold for dry-bulk Olympics holding back demand in the near term, STX Pan Ocean says, but China to lead resurgence later on. Wavefield hopeful Collapse of merger talks between Wavefield Inseis and TGS-Nopec not a death knoll for the deal, CEO Jacobsen says. Incredible bulk Surging dry-bulk rates and increased Chinese demand send revenues and profit through the roof at STX Pan Ocean. PST hunts cash Singaporean trust wants $92m to help cover the cost of new vessels. Poti on edge Reports say Georgian port may be subject to a blockade, but Russian officials deny it. Off and running Wartsila-Hyundai engine joint venture wins first orders with deal from Flex LNG.

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AUGUST 11, 2008
United Arab Chemical Carriers appoints Groenning CEO Fuel concerns force Cathay Pacific reshuffle CEIBA Cargo selects ECS as French agent Jaguar to open Paris office FMC requests comments on NCBFAA petition for tariff exemption Southern California truck plan injunction hearing set for Sept. 8

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AUGUST 11, 2008
Aker Yards in favour of STX bid The board of Aker Yards recommends shareholders to accept the bid from the South Korean shipyard group STX for all outstanding shares. The recommendation is made rather reluctantly as the board considers the bid to under-value the long-term ... EU extends deadline for Polish yards A further five potential bidders have shown interest in the Gdynia and Szczecin shipyards, and EU has extended its deadline for the privatisation with two weeks. The previous deadline was today, Monday. Today, there are one firm bidder for each ...

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AUGUST 11, 2008
Global bunker market report Cook Islands becomes IMO Member State Representatives have already been vocal during MARPOL discussions at MEPC. BIMCO guidelines highlight importance of sampling Charter contracts detailing sampling procedures in bid to reduce disputes. New recruit for Global Risk Management Fuel-crisis aid announced for Scottish fishermen Three-year plan to focus on helping fishing industry adapt to rising fuel prices. Rotterdam market softens Monday morning Trader leaves Curoil Asian cargo flows to remain slim in September Fuel oil supply crunch expected to last through the year. Turkey bunker firm moves Philippines to exempt salvage firm from tax Imported equipment used in salvage operations will also be exempted from duties.