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Shipping News

Focus shifts away from newbuilds
THE focus of the offshore and marine industry seems to be turning towards the service and support side of the business now that the credit crunch's effect on newbuildings is finally taking its toll.
Where is Asia's ship finance market heading?
REACHING year end, one is tempted to look back as well as forward. The global financial crisis is taking its toll on the world economy, impacting heavily on shipping. How will financing patterns in shipping change in response to the crisis?
Order restored in Baltic indices' values, sectors
An important point in the Baltic indices was reached on Monday as order was restored in the comparative values of the different sectors. For the first time since Sept 26, the capesize TC average was the most valued followed by consecutively decreasing rates for each vessel size in the correct order. This was mainly due to a fall in supramax rates and an increase in the panamax TC average. Though panamax and supramax are still only separated by a mere US$48, the fact that the sizes are all in value and size order, does offer some relief that the fundamentals of the dry bulk sector are recovering.
China may build aircraft carrier to protect territory
DryShips may cancel pact to buy nine ships: Lloyd's List
Crisis-hit US states halt road projects
Toyota vows to stay in F1 but will cut costs
Non-US carmakers also downshifting

Strait Talk

The untapped economic potential of Africa
SEEING pictures of the Chinese crew of the cargo Zhenhua 4 successfully fighting off pirates, who were armed with automatic weapons and RPGs, with empty beer bottle aroused mixed emotions for me.

web site

Shipping News

Focus shifts away from newbuilds
THE focus of the offshore and marine industry seems to be turning towards the service and support side of the business now that the credit crunch's effect on newbuildings is finally taking its toll.
Where is Asia's ship finance market heading?
REACHING year end, one is tempted to look back as well as forward. The global financial crisis is taking its toll on the world economy, impacting heavily on shipping. How will financing patterns in shipping change in response to the crisis?
Order restored in Baltic indices' values, sectors
An important point in the Baltic indices was reached on Monday as order was restored in the comparative values of the different sectors. For the first time since Sept 26, the capesize TC average was the most valued followed by consecutively decreasing rates for each vessel size in the correct order. This was mainly due to a fall in supramax rates and an increase in the panamax TC average. Though panamax and supramax are still only separated by a mere US$48, the fact that the sizes are all in value and size order, does offer some relief that the fundamentals of the dry bulk sector are recovering.
China may build aircraft carrier to protect territory
DryShips may cancel pact to buy nine ships: Lloyd's List
Crisis-hit US states halt road projects
Toyota vows to stay in F1 but will cut costs
Non-US carmakers also downshifting

Strait Talk

The untapped economic potential of Africa
SEEING pictures of the Chinese crew of the cargo Zhenhua 4 successfully fighting off pirates, who were armed with automatic weapons and RPGs, with empty beer bottle aroused mixed emotions for me.

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MSC's and CMA CGM's mega ships to call at Busan Maersk quits Charleston after ILA refusal to give up jurisdiction Moody's cuts CMA CGM debt rating in face of heavy commitments Ahlers appointed as agent for Nirint Shipping Panama Canal awards third of four dry excavation contracts Proposed Charleston intermodal transfer yard sparks row Australian competition bureau sues SIA Cargo for price fixing Registrations 60pc up for aviation expo despite slump: organisers Qantas cuts fuel surcharges on foreign, domestic flights

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GE Shipping delivers Jag Rishi to buyers US Exim Bank keen on financing core projects in India CoPT team wins Major Ports badminton championship Stakeholders pledge all-out efforts to increase traffic at Mulund-West CFS Several global cos submit RFPs for developing new cargo facility at Delhi airport Gateway Rail opens Punjab's first private rail-linked logistics park CMIE projects GDP growth in 2008-09 at a respectable 7.5 pc ...while mid-term review puts it at 7 pc Rs 2,600-cr. package sought for handloom cooperatives Indian economy will recover faster from slump-Deloitte Cement export ban goes

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DECEMBER 23, 2008
Chinese warships get ready for Gulf of Aden "Riga bunker samples off-spec": Lintec HPH takes control of Amsterdam's Ceres Terminals Hamburg Süd, Aliança change Americas service

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DECEMBER 23, 2008
Vale makes payment on giant shipbuilding order USCG awards AIS data exchange contract

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DECEMBER 23, 2008
Brussels 'postpones' start of 24-hour container regulations PLAN to launch US-style rules delayed to ensure uniformity across European Union member states. EU cargo security rules may miss 2009 deadline Skuld latest marine mutual victim of credit crisis OSLO club reveals a $90m investment loss over the first nine months. SHI seeks to cap Hebei spill liability SAMSUNG Heavy Industries applies to court to limit its liability for oil spill at $38m.

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DECEMBER 23, 2008
Thailand exports contract 18.6% THAILAND'S port sector is contracting, in line with shipping declines across Asia, a senior aide at the Thai Shipowners' Association confirmed today to Fairplay Cyclone Billy blows back OFFSHORE rigs were evacuated and oilfields shut as Cyclone Billy again raged today along the Western Australian coast Faina kin attack US group FAMILIES of the ro-ro Faina's crew have urged the US government to prevent Michele Lynn Ballarin, who runs the Virginia company Select Armor, from talking with pirates holding the seafarers Star triggers 'termination' clause STAR CRUISES has enacted the 'NCL America wind-up' clause of its 2007 deal to split Norwegian Cruise Line with private equity firm Apollo Russia, Serbia close pipeline deal BELGRADE has pushed Russian oil and gas giant Gazprom into improving its terms for taking over of Serbian government-run oil concern NIS, with a contract due to be signed by the presidents of both countries in Moscow on Wednesday Vale's $1.6Bn deal is $80M real BRAZILIAN mining and transport giant Vale is sending its first instalment of $80M to the Chinese yard Jiangu Rongsheng HI for a dozen bulk carriers, two JR executives told Bloomberg today It's a 'no' for Port Alma QUEENSLAND'S Port Alma was deemed unsuitable today as an LNG site

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DECEMBER 23, 2008
Charleston seeks to keep Maersk Line State officials, Maersk, ILWU meet to work out a way to keep biggest box customer from leaving Port of Charleston. China sending warships to fight Somali pirates Mexico to cut tariffs on industrial products U.S. rail freight down NAM forms Customs and Border Coalition CSX expands Fla. intermodal MOL opens India office Fog halts Houston ships Bird caused Kalitta crash ProLogis in China sale Japan exports plunge

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DECEMBER 23, 2008
'Tuan Tuan' and 'Yuan Yuan': a Christmas gift from China to Taiwan Maersk to offer Florida/Far East citrus link Oil sinks below USD40, despite output cuts Felixstowe piles ahead

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DECEMBER 23, 2008
Tioman spree Four vessels attacked near Malaysian island, with a tug and barge hijacked. FreeSeas CFO out Dimitris Papadopoulos leaves FreeSeas' top financial job as his No 2 takes over for now. Nations respond Three countries now are sending their warships to the Gulf of Aden to face pirates. Skuld survives Cash call ruled out as Norwegian P&I club takes a $1m a day investment loss. Exxon charged US federal prosecutors file criminal charges against ExxonMobil for Boston Harbour diesel spill. Heavyweight deal Arne Blystad linked companies consolidate to form Offshore Heavy Transport. SeaBird scores SeaBird Exploration picks up contracts in South America, the Middle East and the Far East for two seismic. Vale commits Brazilian mining giant secures immediate future of dozen VLOC newbuildings with $240m payment. MSC mystery Brazilian police are investigating the death of a passenger aboard an MSC Cruises vessel. Defying gravity Norwegian owner Gulfmark Rederi sells PSV at double its market value as offshore ship prices show no signs of slippage. Going Forth UK port group on track to meet market forecast this year, but will scale back spending due to challenging conditions in 2009. CSCL moves in China Shipping unit swoops to take majority stake in Korean liner and ferry firm Shanghai Inchon. Free transfer D'Amico and Glencore sell newbuildings to JV company for the same sum they paid for the vessels this summer. Marathon runs on Energy group keeps Havila Fortress for another year at unchanged rate. Korean bailout Forced restructuring in prospect as Seoul task force reviews future of 26 shipbuilders. Aden surcharge France's CMA CGM to start charging extra for containers passing through piracy trouble spot. STX bags brace European owner books two chemical tankers in $102.89m deal at South Korean shipyard. Deep port facility Indian engineering firm Navayuga Engineering set to build port on India's expanding east coast.

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DECEMBER 23, 2008
Kaupthing: Early 2009 to be "disastrous" for Maersk Hamburg Süd will serve La Guarira, Venezuela with feeder Maybe they should call it the Piracy Adjustment Factor? TSA air cargo screening program lifts off Lufthansa switches capacity in January CSX Intermodal expanding services in Florida Dallas-Fort Worth warehouse market hits rocky road GENCO secures warehouse management contracts with U.S. military Old Dominion cuts earnings projections U.S. files WTO case over China brands ITC: Chinese steel line pipe imports hurt U.S. makers Canadian commodity prices continue 'boom to bust' shift in Nov. ATA appeals case against SoCal truck program in hands of judges Talks in Canadian West Coast ports labor dispute move slowly He named Cosco Pacific executive British Columbia port names new top exec

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DECEMBER 23, 2008
Bunker prices remain volatile European markets expect little activity in days ahead. Drive to become regional oil hub continues South Korea completes world's biggest oil storage facility. Bunkers fall as crude softens Product avails remain tight at most ports. Singapore residual fuel at 12-week low But stocks of middle distillates increase. Subic Bay approves bunkering investment Bunkering investment among 34 new projects to develop Subic Bay Free Port. Supplier makes first delivery to South Island The Australia-owned company is the only independent supplier in New Zealand. S Korea grapples with tight supplies Marine fuel product shortages could extend into first quarter of 2009. IOC sells January parcels Middle East firm buys the two parcels for loading at Chennai port