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Shipping News

Panama Canal expansion on stream despite downturn
The economic downturn has stalled big construction projects across the globe, but in Panama, smoke-belching steam shovels and dredges work around the clock on what people here call simply la ampliacion or the expansion.
Pirates rob ship off Johor coast of engine parts
Pirates have struck again in the outside port limits (OPL) anchorage off Tanjung Ramunia and Tanjung Ayam on the south-east coast of Johor, with the Panama-registered bulk carrier Garnet being boarded by armed robbers early Monday morning who made off with some engine parts.
Keppel unveils safety training complex
Keppel Shipyard, a part of Keppel Offshore & Marine (O&M), will build a training complex to help its 14,000 workers stay safer on the job.
MPA uses 3 Ps to meet environmental needs
Newcastle port queues jump to 6-month high
Baltic Dry Index surges 5.4% for 21st increase
Financial crisis affecting shipping safety performance

Strait Talk

It's a double- edged sword
LAST week, I drew attention to a number of consequences of the current downturn.

web site

Shipping News

Panama Canal expansion on stream despite downturn
The economic downturn has stalled big construction projects across the globe, but in Panama, smoke-belching steam shovels and dredges work around the clock on what people here call simply la ampliacion or the expansion.
Pirates rob ship off Johor coast of engine parts
Pirates have struck again in the outside port limits (OPL) anchorage off Tanjung Ramunia and Tanjung Ayam on the south-east coast of Johor, with the Panama-registered bulk carrier Garnet being boarded by armed robbers early Monday morning who made off with some engine parts.
Keppel unveils safety training complex
Keppel Shipyard, a part of Keppel Offshore & Marine (O&M), will build a training complex to help its 14,000 workers stay safer on the job.
MPA uses 3 Ps to meet environmental needs
Newcastle port queues jump to 6-month high
Baltic Dry Index surges 5.4% for 21st increase
Financial crisis affecting shipping safety performance

Strait Talk

It's a double- edged sword
LAST week, I drew attention to a number of consequences of the current downturn.

	web site

NOL's billion dollar share sale to cut debt, fatten war chest Laid-up capacity falls below million TEU as peak season starts Maersk Line ships wait in Firth of Clyde for Scottish lay up Hanjin splits CAX service, cutting Japan from one loop CTSA raising bunker surcharge rises 24-27pc from July 1 Chinese equipment arrives at South Africa's new Ngqura CT EU seeks 10+2 delay to check compatibility to SAFE scheme MOL relocates North America headquarters Breakbulk expected to weather downturn better than containers Wuhan launches first international all-cargo route Northern Air Cargo uses satellites for cheaper navigation Aeroflot to offer Moscow-Dresden weekly service in July Riga Airport plans to surpass rival Tallinn in air cargo

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Logistics seen as capital area for PE investments to bring in value additions Underemployed ships become warehouses for empty boxes Time for fresh look at cabotage rules Dumping duty to be imposed on fluorescent lamps from China VPT chief inaugurates (small) Port Users' Association Aim: To seek more space, say in panels at E. Coast ports KPT's bentonite loading record bettered with super-performing cranes New Mangalore Port improves record in fertiliser discharge Allcargo partners Hind Terminals to manage &d operate Pithampur CFS Forex reserves swell by $ 6,432 million India Inc seeks New Deal from Pranab Exports sink for 7th consecutive month Single window clearance for perishable goods likely Textile Ministry favours inclusion of state-level taxes in drawback scheme

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JUNE 2, 2009
MISC boxship becomes anti-pirate naval auxiliary Economou backs $300m Green Recycling Initiative NOL seeks to raise US$1bn Albertijn to chair FMIUG

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JUNE 2, 2009
Bisso Marine adds a derrick barge Paris MOU demotes U.S. to its "Gray List" Dahlman Rose upgrades outlook for offshore drillers Strategic launches fast support vessel

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JUNE 2, 2009
Kuehne+Nagel predicts double-digit fall in global box volumes ESTIMATE pours more gloom on prospects for a liner shipping recovery. Capesize rates break $100,000 barrier Rates for the 855-strong fleet of capesize ships have more than doubled in the last two weeks, as Chinese port congestion ties up 10% of fleet. Fitzpatrick promises lighthouse review British government agrees to a full review of the provision of navigational aids after intense shipowner lobbying.

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JUNE 2, 2009
EC OKs Gdansk restructuring EC COMPETITION commissioner Neelie Kroes today accepted the restructuring plan for Poland's Gdansk shipyard Chinese mills seek ore cuts RIO TINTO'S South Korean and Chinese Taipei iron ore customers have accepted the same 2009 prices agreed last week with Japan's Nippon Steel, but Chinese mills want even greater reductions Oz port selloff plan attacked QUEENSLAND unions have vowed to fight the state government's plans to sell off port and rail infrastructure, saying they are "shocked and disappointed" with today's decision Iraqi Kurds pipe oil to tankers KURDISH provinces in Iraq have begun to export crude by pipeline to tankers at the Turkish port in Ceyhan, "scoring a political victory over the long-apprehensive Iraqi oil ministry and central government", IHS Global Insight said today Singapore yard combats deaths A SAFETY training centre to combat some of the worst practices of shipyards that cut corners during business upswings has been launched by Singapore's Keppel yard Seadrill hits loan jackpot OSLO-LISTED Seadrill today proved lenders are still open for business by securing a $1.5Bn loan Trafigura to boost oil storage COMMODITY trader Trafigura is reportedly investing $400M to double its global oil storage facilities in West Africa and Central America

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JUNE 2, 2009
Mexican Truckers Seek $6 billion from U.S. Risk Management: Combating Piracy Marad Faces $136 Million Loss on Ferries Aries Lays up Boxship after 3Q Loss Vietnam to Cut Import Tariffs Port of Long Beach to Hear from Neighbors on Pollution Menlo Expands Manufacturer's Supply Chain UPS Buys Agent in Central Europe Baltimore Inks Panama Agreement YRC Fires Four Top Execs Estes Opens Southwest Terminal Railroads Cut 697 Jobs in April Volga-Dnepr Aids Anti-Pirate Effort China Investigates Alleged Dumping Hamburg Süd Launches New Ship Freight Shipping Index Grows 4 Percent NOL to Raise Capital in Rights Issue Idled Box Fleet Shrinks ICC Endorses Rotterdam Rules GM Shutting Three Distribution Centers

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JUNE 2, 2009
Stocks and oil take a breather NOL to raise USD1 bn through rights issue Suez Canal transits down 13%; but carriers coming back Swiss join the recession club: US GDP shrinkage bad, but not that bad New for old in Maersk Line Ltd US fleet upgrade

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JUNE 2, 2009
Sell or scrap Aries Maritime Transport is mulling disposal possibilities for the containership Ocean Hope. Top Ships soars Mystery shrouds 53.7% jump in Top Ships shares just days before earnings release. Helix selling Helix Energy Solutions gives up majority stake as it unloads up to 23 million shares of dive-support and pipelay owner Cal Dive International. Captain lost A Scottish Subsea 7 captain is among those presumed dead as at least three commercial ships are diverted Gdansk go-ahead Polish shipbuilder Gdansk is rescued by European Commission rubber-stamping restructuring plan. Proxy reversal A proxy advisor has maintained its support for Christen Sveaas but now says two Trico nominees, including Joe Compofelice, should get seats. Pride eyes $500m Pride International reaches for $500m in senior notes for drillship newbuildings, as it reveals semi-submersible Pride Venezuela lost a contract because hull-corrosion. Crash casualties Two employees of ThyssenKrupp, including top executive, die in Air France crash off Brazil. Still out for Pride John Fredriksen's Seadrill signs forward agreement preserving potential 9.5% stake in driller Pride International. Fulford returns Former Clarkson chief Richard Fulford-Smith makes long-awaited comeback as he joins RS Platou. Bank takes cape Morgan Stanley hires Genco newbuilding on two year deal from July. Supramax sold Jinhui offloads bulker in $26.80m deal just four months after taking the vessel over. Aries cuts loss Greek tanker and boxship owner sees first quarter deficit reduced as derivatives losses decrease. Orey selling Portuguese broker and agent disposing of shipping businesses to focus on finance. Ports first Kenya's Gichiri Ndua becomes first African president of International Association of Ports and Harbours. I'm in charge! Judicial managers move into Armada's Singapore office as bid to save chartering group gets underway. Sammy digs deep Zim nets $50m loan from Israel Corp to battle economic downturn, with more money on the table if needed. 'Landmark loan' John Fredriksen-backed Seadrill secures $1.5bn facility to finance all of its obligations. Greek ship evades Crew of suezmax tanker use fire hoses to fend off pirates trying to scale hull in Gulf of Aden. Bulgarian blues Owner of Varna shipyard, IHB, sees first quarter profit slump more than two thirds. Star struck Russian charterer rips up long term agreements for five ships belonging to Oslo-listed Star Reefers. Bounty hunt US Navy investigating alleged disappearance of $30,000 from Maersk Alabama during failed pirate raid. Seismic shift Eidesvik Offshore delays two newbuildings for 18 months at charterer's request. Seize the day Sri Lanka's navy chief Wasantha Karannagoda believes the global slump is the time to rebuild its merchant fleet. Omega stronger Greek products tanker owner's first quarter profit more than doubles as financial costs fall. Gas gains UK LNG carrier systems maker Hamworthy ups annual profit, but cuts workforce by 6% in downturn. Tug tonic Netherlands shipyard group Damen wins deal to build up to 10 towage units for UAE's Lamnalco. Up for grabs Australia's Queensland state to sell off Brisbane and Abbot Point ports to fill revenue hole. NOL goes big Singapore government backs container line's $1bn share issue as it seeks to slash debt and prepare for investment. Trio in port pact STX Pan Ocean, Bunge and Itochu set up joint venture to build grain facility on US west coast.

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JUNE 2, 2009
Evergreen, China Shipping link up on services Maersk invests $400 million in U.S.-flag fleet NOL to offer rights issue to generate capital McHugh leaves DHL Asia Pacific in regional shake-up Gualtieri re-elected MCAA president WFS facility certified to screen air cargo Chassis report system aims to meet FMCSA rules Ex-DOT chief Peters lands board position NIT League endorses rail antitrust bill ICC weighs in on Rotterdam Rules ICC names new secretary general Thai FDA revises produce import inspection rules Phoenix International opens Paris branch Geodis: New pharma warehouse in Paris Longview export grain terminal property lease signed DHS issues guidance for port security grants ILA moves Atlantic Coast office

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JUNE 2, 2009
Finance drags down Stena result Despite a significant increase in operational revenues, Stena AB reports a SEK 246 million (USD 30 million) loss in the first quarter. The reason is losses on the financial side Star Reefers sitting with five re-delivered vessels Liquidity problems at St Petersburg based Sunway Group has forced Star Reefers to terminate charter deals for five vessels chartered-out to the Russian company. Three of the reefers have Released Stolt tanker attacked again Stolt-Nielsen's chartered in 33,200-DWT tanker Stolt Strength, built 2005, managed to sail not much more than a month after five months in the hands of Somali pirates, before Visionary Gotlandsbolaget reports record result At its AGM in Visby, the Swedish ferry operator/tanker owner Rederi AB Gotland presented not only a record high SEK 406 million pre-tax profit for 2008, but also Neglect behind two fatalities on Danish tanker The loss of two seafarers on the tanker Orasila off Greenland in January this year was caused by a number of unlucky circumstances, but the main reason for the loss

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JUNE 2, 2009
Bunker prices continue to surge Crude oil prices showing losses on the NYMEX. Fujairah bunker prices holding above Singapore's Reports of tight supplies in UAE bunker hub. UK shipping industry hits back at GHG criticism International shipping 'must not be shoe-horned into regional emissions regimes'. Hedge fund collapse hits shipping company results Stena has written-down a $10 million investment. Bunker prices at seven-month high Markets in Asia continue to firm, although demand seen thin. IBME expands with two new traders Chemoil 'fills gap' in Gulf of Mexico More than 850,000 mt of bunkers sold in less than two years. OPEC optimistic about demand recovery Secretary general sees demand picking up. Japan pledges $12 million to cut emissions Projects rolled out to reduce CO2 emissions from ships.