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Shipping News

Dry bulk ship buyer looks for bargains
After years of sky-high order books, a surfeit of dry bulk ships in the current recession means that companies like Ultrapetrol Bahamas Ltd should be able to buy vessels at bargain prices, the company's top executive said on Monday.
Singapore is prepared to ride out the storm: MPA
IN 2008, the Singapore port was again the world's top port in terms of shipping tonnage, container throughput and bunker sales, despite the economic downturn. Yet it is among the safest and most efficient ports in the world.
Malacca pirates can be struck down within 5 years: KL
Pirate gangs in the Strait of Malacca can be 'struck down' within the next five years if the current aggressive pace of enforcement is maintained, a senior Malaysian maritime security official told Reuters.

Strait Talk

How should we fend off pirate attacks?
AN incident that took place in the Gulf of Aden on Sunday should give food for thought. The Dubai Princess, a 115,485 dwt crude oil tanker, was travelling through the danger zone when a speedboat carrying half-a-dozen pirates armed with guns and a rocket propelled grenade (RPG) launcher was observed chasing the Emarat Maritime-managed vessel.

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Shipping News

Dry bulk ship buyer looks for bargains
After years of sky-high order books, a surfeit of dry bulk ships in the current recession means that companies like Ultrapetrol Bahamas Ltd should be able to buy vessels at bargain prices, the company's top executive said on Monday.
Singapore is prepared to ride out the storm: MPA
IN 2008, the Singapore port was again the world's top port in terms of shipping tonnage, container throughput and bunker sales, despite the economic downturn. Yet it is among the safest and most efficient ports in the world.
Malacca pirates can be struck down within 5 years: KL
Pirate gangs in the Strait of Malacca can be 'struck down' within the next five years if the current aggressive pace of enforcement is maintained, a senior Malaysian maritime security official told Reuters.

Strait Talk

How should we fend off pirate attacks?
AN incident that took place in the Gulf of Aden on Sunday should give food for thought. The Dubai Princess, a 115,485 dwt crude oil tanker, was travelling through the danger zone when a speedboat carrying half-a-dozen pirates armed with guns and a rocket propelled grenade (RPG) launcher was observed chasing the Emarat Maritime-managed vessel.

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United States Australasia Discussion Agreement hikes rates Grand Alliance: MISC's departure will not hurt service Port suspects angry locals driving golf balls to attack CT FESCO withdraws credit ratings from Moody's Kwun Tong Public Cargo Working Area's new boundary DHL launches LCL service in Shenzhen Ningbo-Chengdu sea-rail intermodal to be launched this year UASC chief Soerensen departs as four-year contract ends OOCL eco-initiatives included in emissions reduction guide Accent put on green at cargo-partner's Singapore opening Houston port lauds Texas Congressional Delegation for US$98 million stimulus victory Vladivostok's April box volume down 16pc to 15,500 TEU Hainan Airlines to offer Beijing-Dubai-Luanda service Senai Airport attracts first cargo airline Dallas Chamber economist urges city build two air cargo hubs

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Ahlers celebrates global centenary & 5 years of Indian subsidiary Soerensen bowing out of UASC Falling rental incomes may prompt scrapping of supertankers Belarus envoy seeks to enhance trade ties with India Indian IT industry will dominate global space-Deloitte A critical look at port bureaucracy With assurance of no job losses, Cochin port workers call off strike MbPT commissions 1 of 2 new tugs Pankaj Shah & Sunder Balan elected to helm of ACHAA Fieo President hopes new govt will be reforms-friendly India Inc expects new govt to take quick & decisive actions now S. K. Jakhar re-elected IFFCO Chairman Resignations pave way for reconstitution of Plan panel

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MAY 18, 2009
Joël Moebel leaving Schenker France Joël Moebel, who has worked for Schenker SA in France for 22 years, and who has been the company's long-serving director and regional director Europe West at DB Schenker AG, has su... Sorensen quits UASC The United Arab Shipping Company (UASC) has announced that Ken Sorensen, its chairman and CEO, is stepping down after a four-year term of office. UASC's board said that the company... MISC withdraws from Far East trade The shipping line MISC Berhad, based in Kuala Lumpur (Malaysia), has informed its partners in the Grand Alliance that it will withdraw from the trade between Europe (including the ... FedEx Express and Cologne Bonn airport hold topping out ceremony FedEx Express, a subsidiary of US-based FedEx Corp and Cologne Bonn airport (Germany; recently held a topping out ceremony for the express service provider's new Central ... Australian Logistics Council (ALC) is on the move The Australian Logistics Council (ALC) board has been working to make sure that ALC, as Australia's national umbrella body for transport and logistics (T&L), continues to focus on ... Royal Mail doubles earnings The Royal Mail Group, a British mail service provider, almost doubled its profit last year, despite the on-going recession. The group's operating profit increased to GBP 321 millio... Wim Bosman Group awarded ISO certification again The Wim Bosman Group has again been awarded ISO 9001 certification (quality) at its companies in the Netherlands, Belgium and France, after an intensive audit week, from 30 Ma... Rhenus becomes preferred Lufthansa Cargo partner Rhenus Freight Logistics GmbH & Co KG signed a cooperation agreement with Lufthansa Cargo AG at the beginning of May. As a result, Rhenus has become one of the preferred partners o... AA revamps B757s for short international flights The US carrier American Airlines (AA) is to revamp its smaller, single-aisle B757s and put them on the shorter international routes. Fort Worth-based AA began flying the first... Prague Airport host Routes Europe 2009 conference Prague Airport is hosting the biggest event for air service development professionals in the European region from 16 to 19 May. Over 650 delegates, representing 75 airlines and up ... Port of Antwerp strengthens ties with South Korean port city of Incheon The port of Antwerp (Belgium) renewed its 1996 friendship agreement with the South Korean port city of Incheon on 14 May. The ceremony took place as part of the royal trade mi... Scandlines generates positive pre-tax results in 2008 The German-Danish Baltic Sea ferry shipping line Scandlines, based in Rostock (Germany), ended the 2008 business year with a positive pretax result, but nevertheless laun... Iberia announces severe cost cutting measures The Spanish national carrier Iberia has announced severe cost cutting measures after suffering a EUR 92.6 million loss in the first quarter of 2009. Earnings declined by 15.6% as d... HHLA keeps downturn within bounds Against a backdrop of a worldwide collapse of industrial production and volumes transported, the German terminal operator Hamburger Hafen und Logistik AG (HHLA) has reported distin...

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MAY 19, 2009
ESPO calls on EU Parliament resist protectionism ABS guidance on thick steel plates for boxships Shippers "should challenge bill of lading terms" Ship valuers under pressure

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MAY 19, 2009
Mabus sworn in as Secretary of the Navy Bender gets $2.5 million RRF ships job Dry bulk shares trade higher Austal launches fast patrol craft

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MAY 19, 2009
Frangou urges more mature risk approach INDUSTRY needs to restore a proper approach to risk, Navios Maritime chief executive Angeliki Frangou has said. Dry derivatives vehicle grinds to virtual standstill FFA alternative fails as market crash changes trading landscape.

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MAY 19, 2009
APM's financial chief quits FINANCIAL chief S'ren Thorup S'rensen today resigned from AP M'ller-Maersk, in a time of continuing organisational upheaval and financial loss for the Danish group Moody's reacts to FESCO move SOURCES at Moody's, the international rating agency, have revealed that FESCO is the only global shipping company to withdraw from the rating system since shipping revenues and vessel values dropped last year Mwangura cleared of all charges MOMBASA'S high court has dropped charges against Kenyan seafarer activist Andrew Mwangura, who told Fairplay today that the case had been Kenya's attempt to "muzzle" him China to raise refining capacity CHINA'S State Council has decided to increase oil refining capacity this year nearly 18.5% over the figure for 2008 Indian shipping shares react INDIA'S stocks are forecast to soar 20% in the next few weeks after the election victory of the Congress-led Alliance coalition Trade financing seen improving TRADE financing will continue to improve in the next 6-12 months and restrictions will ease, IHS chief economist Nariman Behravesh told a conference in Nice today Yard unions again accuse Warsaw POLISH unions today continued to accuse the government of lying about the amount of government aid received at Gdansk shipyards since 2004

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MAY 19, 2009
Long Beach to Cut Budget Nearly 14 Percent Rail Bill Nears Senate Vote Lawmakers Propose "Last Mile" Funding Study: Rails Overcharge Consumers by $3 Billion MSC Consolidates Asia-Med Service U.S.-Flag Ships Make Anti-Piracy Progress Hamburg Volume Falls 21.7 Percent Portland Box Executive Retires Hanjin Launches New Ship COSCO Vessels Begin Calling Port of Savannah Farm Leaders Fear Trade Restrictions A.P. Moller-Maersk CFO Resigns Davidson: ABF Ready for Freight Shipper Group Adds Web-based Transportation Management Zollars: YRC On Road to Profit Maersk Delays Rate Hike Hanjin Shipping to Increase Rates Porcari, Babbitt Face Senate Panel ICTSI Profit Drops 44 Percent Anti-Piracy Group Seeks 'Joint' Response Panel Opposes Galveston Pilots Rate Hike White House to Raise CAFE Standards

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MAY 19, 2009
Maersk cfo resigns Oil hits six-month high Fitzpatrick light dues 'assurance' as consultation period ends Mark-It concludes reefer monitoring deal with APL Piracy 'not an inside job'

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MAY 19, 2009
Paragon net rises US-listed bulker owner posts best profits in company history and beats Wall Street expectations. Town says yes Voters in Argentine community of Magdalena overwhelmingly approve $9.5m settlement with Shell over 1999 spill. Dry stocks jump Dry-bulk shares head upward after Dahlman Rose upgrade, but Omega Navigation shifts to reverse. Glencore in US-listed Omega brings in giant charterer to buy 50% of its first Hyundai Mipo products tanker newbuilding. Conrad net grows Gulf Coast shipyard reports 26.7% boost in fist-quarter profits as $24m barge order lifts order backlog. Crash shuts Miss Mississippi River closed at for 72 kilometres near Memphis after a crash between tugs sends 26 barges adrift. 'Big jolt' foreseen Dahlman Rose analyst upgrades seven bulker owners as steel price improvement could lead to potential "frenzy" for bulker tonnage. Patriot released After nearly a month in pirate hands, German handymax bulker is freed off Somalia. GSL waiver sought Global Ship Lease reports improved profits and said talks with banks continue to avoid loan covenant default. Fall guy on the up Crewman airlifted to Bermuda hospital after fall on Greek tanker could be back to work next week. Chilly warning Green Reefers may lay-up or scrap ships and warns of weak year but cost cuts reap first-quarter profit. Murmansk mauled Russian tanker and bulker owner turns from profit to loss in first quarter as rates fall. Another let-off George Economou's DryShips gets a waiver from DnB NOR on a loan used to buy two bulkers. BLT bonus Indonesian tanker owner to pocket nearly $50m from sale of conventional and Islamic bonds. DHT does better US tanker owner boosted by hedging in first quarter, but daily rates down for VLCCs and aframaxes. Novoship rises Revenues and profit grow at Russian tanker owner in first quarter, after weaker 2008. BWO better Helmut Sohmen-backed FPSO owner posts improved first quarter numbers despite being scarred by interest in rivals. Torm saved Compensation payments prevent red ink at Danish owner's dry-cargo operation but first quarter profit still hurt by falling rates. Prison please! Pirate suspects don't mind 'doing porridge' in the Netherlands as they lap up life of television, football and fancy toilets. Arcade's game up Blank-cheque outfit Arcade Acquisition Corp, which saw planned 10-ship purchase fail, winds up. Sorensen quits AP Moller-Maersk's finance chief Soren Thorup Sorensen to leave over ill health. Solstad sombre Norwegian offshore owner dodges downturn in first quarter, but it is nervous about the market during the next couple of years. Hanjin hikes South Korean owner bumps up rates on Asia Europe routes claiming move is "inevitable" in the present climate. Crew missing One body recovered and 11 other seafarers feared dead after sand carrier capsizes off China. Gdansk safe? Polish PM Donald Tusk says EU approval of yard restructuring plan could be given "within days." Fatal detour Four boaters died in ferry collision after changing course to look at actor Russell Crowe's house in Sydney. 'No Somali spies' Reports pirates laid hands on sensitive military document to target ships not reliable or serious, MSCHOA says. Newbuild grounds Vessel under tow from Ukraine ran aground off Turkey after tug ropes broke. Patchara sold Thailand's Precious Shipping continues clear out of elderly tonnage with handysize disposal. TK edges up Japanese tug player Tokyo Kisen posts slightly better annual profit, but expects drop-off in current year. Pumping begins Fuel removal has started from the wreck of Louis Cruise Lines' Sea Diamond off Greece. Mermaid battered Thai-owned offshore contractor sees second quarter profits evaporate on lower revenue and higher costs. DPW in Oz tie-up Dubai terminal operator DP World has taken a 30 year concession at Port Adelaide in South Australia. Long Beach lower US west coast port continues to suffer the consequences of the global economic slowdown.

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MAY 19, 2009
Hamburg Süd, COSCO Pacific see biggest '08 volume gains Hanjin seeking Asia/Europe rate hike IMO executive: Arming crews no answer to piracy Rep. Israel offers air cargo security bills Delta expands network in June CryoPort, FedEx launch product for life sciences Exel to operate General Mills Southeast DC Homebase renews K + N contract CEVA wins Powerwave contract ATA seeks widespread injunction on L.A. truck plan Tanger Med grows facilities, Virginia trade Cold ironing comes to Antwerp

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MAY 19, 2009
Termination of icebreaker service Danske Havne, the association of Danish ports, has recommended that the state-owned icebreaker service be terminated as soon as possible. 'It is an old-fashioned service, which has become

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MAY 19, 2009
Aegean upbeat on Q2 prospects Sees increase in sales; welcomes opportunities for more growth. Prices soar in Northern Europe Rotterdam 380 cst bunker product gains $16 per metric tonne. Russia fuel oil exports climb Weak domestic demand sees more product heading abroad. New 'sail' could be tested on tanker Developer says its fuel-saving technology could be suitable for all ships. Cutting bunker consumption remains a priority Slow steaming will last beyond the end of the recession, says Maersk. Bunker prices jump in key Asia ports Demand generally reported to be slow. Istanbul bunker conference opens next week Turkish Bunker Association event will look at regional market and boarder industry issues. Sri Lanka's bunker market 'to grow' as conflict ends End of war will bring security and stability to the country, benefiting port and bunker market growth. India's Global Fuels & Lubricants moves Supplier makes first delivery at Gwadar Starts with MGO sales, may be followed by IFO sales later this year.