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Shipping News

Virgin Blue posts 55% fall in 2008 profit
Virgin Blue Holdings Ltd, Australia's second-biggest airline, reported a 55 per cent fall in 2008 profit on high fuel prices yesterday, cut its dividend and painted a gloomy outlook, sending its shares tumbling 15 per cent.
Texas offshore pipeline to open in 2010
An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 per cent of the United States' daily imported oil.
Navy shipbuilder pays US$4m to end fraud suit
General Dynamics Corp, the second-largest shipbuilder for the US Navy, agreed to pay US$4 million to settle a lawsuit claiming a unit, now closed, fraudulently billed the government for aircraft parts that were defective.

Strait Talk

War risk pay issue in the spotlight
THE recent conflict between Russia and Georgia was over very quickly and, thankfully, it looks as though the fragile ceasefire in place may hold. The major Georgian port of Poti was badly damaged and, it is reported, 10 dockers were killed in bombing raids.

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Shipping News

Virgin Blue posts 55% fall in 2008 profit
Virgin Blue Holdings Ltd, Australia's second-biggest airline, reported a 55 per cent fall in 2008 profit on high fuel prices yesterday, cut its dividend and painted a gloomy outlook, sending its shares tumbling 15 per cent.
Texas offshore pipeline to open in 2010
An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 per cent of the United States' daily imported oil.
Navy shipbuilder pays US$4m to end fraud suit
General Dynamics Corp, the second-largest shipbuilder for the US Navy, agreed to pay US$4 million to settle a lawsuit claiming a unit, now closed, fraudulently billed the government for aircraft parts that were defective.

Strait Talk

War risk pay issue in the spotlight
THE recent conflict between Russia and Georgia was over very quickly and, thankfully, it looks as though the fragile ceasefire in place may hold. The major Georgian port of Poti was badly damaged and, it is reported, 10 dockers were killed in bombing raids.

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UASC orders nine 13,000-TEU ships to meet expected demand Cosco invests US$1.4 billion on new shipyard in Dalian SITC offers new S Korea-China-Vietnam service Guangxi to invest US$43.7 billion on transport infrastructure Tianjin to host 4th China International Container Forum Pakistan arranging 100pc box scanning at Karachi CEVA Group sees merged revenue soar by 74pc in Q1 Marseilles port invites logistics zone proposals Panama Canal HR people win ISO 9001-2000 certification Cai Lan Port receives licence for three new wharves Grand Xinhua reopens Tianjin, Yinchuan, Lanzhou Jiayuguang flights Cargo 2000 reaches millionth milestone Gemini Air Cargo liquidates after talks fail with potential buyers Cargojet profit dips but revenues robust in second quarter

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Maersk Line adds Hamburg port call to AE8 service Cosco launches Tianjin-Yantai-Shanghai feeder container line Hanjin Shipping to start Korea-Japan feeder service Kalmar invests in its South American sales & service network ...takes delivery of new 4,300-TEU ship NY-NJ port launches forward-looking study on cargo volume AADA announces rate increase of $ 350 per TEU from Sept. 1 MidEast shipping industry primed for robust growth APL Logistics' OceanGuaranteed adds Guangzhou as main port China-wide box throughput up by 17 pc in H1 St Petersburg's FCT to get 10 RTGs A.P. Moller-Maersk appoints new head of group finance Sinotrans' small box business rises by 46 pc MOL restructures North American operation with new team DCI to charter dredger on KoPT's behalf to deepen the Hooghly TUI AG asks shareholder not to hinder Hapag-Lloyd sale Event organisers concede requests to extend deadline for nominations CSL may be listed on stock exchange! Sugar exports touch 43 lakh tonnes US court freeze on shrimp order New guidelines on port-based SEZs soon Dr G. S. Rao highlights KPT's dynamism at I-Day fete VPT chief unfurls Tricolour & development plans on I-Day Dhamra port taking concrete shape Bhaskarachar holds addl charge as KPT Deputy Chief Industrial growth slumps in Q1 this fiscal Lamy terms India one of 3 'big brothers' of WTO Quitting WTO no solution, stresses Farm Minister India Inc invests more in times of slowdown! CMIE calculates growth rate to exceed 9 pc Double-digit inflation to continue till Feb.-S&P Fieo named India agent at Canton fair

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AUGUST 19, 2008
Gefco Deutschland appoints new executives Scandlines continues to be the major ferry operator in the Baltic TAM flying from Sao Paulo to Bariloche Danser offers calls at Euromax Imperial Logistics takes over the Hansmann group AAAE/IAAE conference in Greece

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AUGUST 19, 2008
New Somali hijacking Shipping clashes with aviation Panama-flag fleet still growing Cosco Busan pilot calls for trial to be moved

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AUGUST 19, 2008
SYMS pullout drives up China-Japan rates LINE temporarily halts its container services, sparking a rate hike on the China-Japan trade. SYMS' and Grand China's lips are sealed on share deal Warning of legal pitfalls as liner upheaval looms LAWYER says lines may have been better off without EC guidelines when conference system comes to an end. Norway claimants win extra payout VICTIMS of boiler explosion on cruiseship have won an additional $7.4m in restitution from Norwegian Cruise Line.

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AUGUST 19, 2008
Georgia fighting confuses markets CONFLICTING reports about the Russia-Georgia conflict highlight the uncertainty hanging over the Black Sea/Mediterranean tanker market Parcel tanker seized by pirates The Bunga Melati Dua, a 22,254 dwt parcel chemical tanker owned by MISC, is being hijacked in the Gulf of Aden by Somali pirates Lines scrap bunker surcharge THREE shipping lines have removed the emergency bunker surcharge that drew heated Asia-Pacific criticism Canada keeps an Arctic ear out CANADA has a new electronic ear on the Northwest Passage NCL to pay more for fatal blast A US JUDGE has ruled that NCL must pay nearly $8M more in restitution for the May 2003 boiler blast on Norway that killed eight crew and seriously injured 10 Navigazione board accepts buyout NAVIGAZIONE Montanari's board has accepted an offer from majority shareholder G&A Montanari to buy out the other stockholders

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AUGUST 19, 2008
ATA presses FMC on clean-trucks plan The trucking association urged the commission to use its authority to review the legality of the LA-Long Beach program. NYK to take over South America service GAO report criticizes Customs' security program Florida, Georgia ports brace for Fay Russian presence halts Georgian oil exports Transcom, Numerex launch cargo-tracking project DHL, METRO to launch RFID initiative in France YRC seals China deal UPS Freight workers ratify contract Maersk to upgrade Israeli feeder service Volume climbs at Indian ports

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AUGUST 19, 2008
JAXPORT 'business as usual' after storm damage: but Fay on the way BAF fuels APL's rates MISC expects box trade to weaken further Fay flags as oil continues slide GAC opens up in Algeria

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AUGUST 19, 2008
Navios net triples Profits swell at US-listed bulker owner as revenue increases by 161% and a Belgian tax write-off lifts bottom line. Stocks pull back As US stock markets drops, shipping stocks join in on a Tuesday plunge. 'Norway' bill rises The cost to NCL of the boiler blast that killed eight and seriously injured 10 others has passed $20m. New Brazil yard Espiritu Santo state government signs letter of intent with Jurong Shipyard to build a platform construction and ship repair yard. Managers face axe Harry Vafias is to take more of his fleet management in-house to cut costs and improve control. Costs hurt SBM Dutch offshore player posts a 39% drop in first-half profits as cost overruns hit FPSO projects. Cota cries foul Lawyers of ship pilot charged over Cosco Busan casualty ask for trial to be moved citing potential press bias. BW Gas a 'buy' Shares surge in Norwegian gas ship owner as compatriot finance house issues 'buy' recommendation. In the money StealthGas CEO Harry Vafias hails "highly creditable" result as second quarter profit picks up 65%. Rotterdam rise "Sharp rise in revenues" pushes operating results at the Rotterdam port authority to increase by 18%. Poti woes persist Russian troops briefly enter Georgian port, closing it Tuesday, days after video footage show looting by soldiers. Easy for ESL Hot bulker market and effective cost control send annual profit soaring at Ethiopian Shipping Lines. Jaya jumps Singaporean group sees full-year profit pick up by a quarter thanks to improved offshore showing. Share rise quizzed Sinotrans Shipping "not aware of any reasons" for 36% hike in stock price which soon disappeared. 'Delay won't hurt' Eidesvik Offshore MD Jan Fredrik Meling shrugs off fears over four-month delay to deliver of PSV newbuilding. SeaBird flies high Norwegian owner's stock at the top of the tree after second quarter profit swoops back into the black. Novoship surges Sales and EBITDA ahead in first half at Russian owner which has merged with Sovcomflot. Tax bites Eidesvik Jan Fredrik Meling-led owner sees 13-fold rise in its tax bill take the gloss off record second quarter operating figures.

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AUGUST 19, 2008
Higher costs dampen MISC's 1st quarter profit APL volumes, rates up CN wants STB to rule on EJ&E purchase Con-way promotes Miller to policy chief Kansas City Southern promotes Jensen U.S. apparel importers pressure Uzbekistan on child labor ATA requests FMC block SoCal ports truck plan agreement Study: Cargo diversions contributing to SoCal ports volume declines Nansha terminals drives Guangzhou Port growth in July Rotterdam's 1st-half throughput up 7.7% Long Beach port concludes comment period on terminal project Strike closes Port of Buenaventura in Colombia Ports America appoints Telman general counsel

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AUGUST 19, 2008
USA slams down on Russian blockade in Georgia "It's just bizarre that naval forces are blockading a sovereign independent country", says the American envoy Matthew Bryza to Reuters, and demands that the Georgian infrastructure is opened up. Russia denies any blockade but says that they have peace-keeping ... Sovcomflot becomes SCF Group Sovcomflot will change the group's structure to separate the port businesses from other business areas. In October the new structure will take form, when every subsidiary in SCF Group will add SCF to their company names. Thus the group's shipping ... Farstad Shipping signs charter agreements Farstad Shipping has signed a three year contract with Marathon Norway for the supply vessel Far Service. The contract starts in August as a continuation of the existing contract. For the supply vessel Far Splendour has Peterson SBS Den Helder ...

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AUGUST 19, 2008
High sulphur bunker fuel under fire again New research says shipping is a major source of harmful 'primary sulphate' particles in coastal areas. European fuel oil firm despite weak crude Possible re-opening of arbitrage window to Asia lending support. Rotterdam barge market firm Mixed movements for Asian prices Bunker prices down in Singapore but up in Hong Kong on Tuesday. European ban on price-fixing sparks Asian woes Shippers fear liners may increase charges in Asia following conference ban in Europe. IBME gets new bunker trader Hanjin, Hyundai to slow steam Sailing at reduced speeds for bunker savings. Bunker surcharges boost NOL revenue Average revenue per FEU in July up 9% year-on-year. LMS gets deadline extension Supplier has three more weeks to vacate bunkering facilities.