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Shipping News

Inmarsat counts on well-priced services
SATELLITE communications provider Inmarsat is hoping its recent launch of new products will help it ride through the downturn by offering more reasonably priced services for cash-strapped companies.
Backbone of the maritime industry
YOU may be sitting in Singapore enjoying a German beer, driving a Japanese car or browsing through a store selling Chinese goods. In all these cases you have benefited from the services of a professional seafarer.
Baltic Dry Index posts longest drop on slowing demand
The Baltic Dry Index, a measure of shipping costs for commodities, fell for an 11th consecutive decline, the longest drop since April, as demand for iron ore from Chinese steel mills slowed.
Evergreen, Cosco to raise rates on US-Asia routes
Daewoo wins US$650m tanker deal
Crew repairs drifting freighter's engines
Croatia delays sale of shipyards
Supertanker supply for Mid-East routes rises
Long-range clean tanker rates steady

Strait Talk

Where does COP15 leave shipping?
SO, AFTER all the hype, all the build-up, the United Nations Climate Change Conference (COP15) at Copenhagen turned out to be a near total fiasco.

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Shipping News

Inmarsat counts on well-priced services
SATELLITE communications provider Inmarsat is hoping its recent launch of new products will help it ride through the downturn by offering more reasonably priced services for cash-strapped companies.
Backbone of the maritime industry
YOU may be sitting in Singapore enjoying a German beer, driving a Japanese car or browsing through a store selling Chinese goods. In all these cases you have benefited from the services of a professional seafarer.
Baltic Dry Index posts longest drop on slowing demand
The Baltic Dry Index, a measure of shipping costs for commodities, fell for an 11th consecutive decline, the longest drop since April, as demand for iron ore from Chinese steel mills slowed.
Evergreen, Cosco to raise rates on US-Asia routes
Daewoo wins US$650m tanker deal
Crew repairs drifting freighter's engines
Croatia delays sale of shipyards
Supertanker supply for Mid-East routes rises
Long-range clean tanker rates steady

Strait Talk

Where does COP15 leave shipping?
SO, AFTER all the hype, all the build-up, the United Nations Climate Change Conference (COP15) at Copenhagen turned out to be a near total fiasco.

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Pacific carriers want US$100/FEU more westbound from February 15 Long Beach, LA and Oakland ports enjoy export surge Shandong 11-month port box volumes near last year's level OOCL names 12th 4,500-TEU newbuilding in series of 16 built by Samsung HI Fesco, Chinese and Busan port Authorities to build 400,000-TEU terminal Sinotrans founds JV logistics facility in Dongguan Indian container train charges to rise in the New Year EPA green rules fuel 50pc decline in US truck sales Kaliningrad cargo volume down 21pc January to November FedEx profit down 30pc, but reintroduces wage incentive Changi, Chongqing airport groups sign MoU to collaborate Canadian airports declare EU open skies deal a big trade boost Web release of TSA inspection procedures was gift to evil-doers

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Box volumes on eastbound trade booming Baltic Dry Index on longest losing streak since Sept. OOCL's 12th Panamax vessel named after Charleston port SCI to apply 'piracy risk surcharge' on ISE service 20 anti-dumping probes ordered so far this fiscal Dumping duty on phosphoric acid from Korea Italy offers special status & routes for shipping VCT ideally positioned to serve Central India ex-im trade, stresses Capt. Ravi Chander System88 imparts new dimension to transport of pipes IATA sees skies clearing OWS becomes 1st company to commence operations at Freezone Sohar Forex reserves dropped by $1,632 million Steel prices set to go up in 2010 Decision on Hazira SEZ deferred; Posco told to submit fresh plan LS passes Trade Marks (A) Bill RBI may hike rates earlier than expected Investor fund not being fully utilised-Khurshid Call to make sustainability new mantra for survival

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DECEMBER 22, 2009
IMO chief's "mixed feelings" Shipowners "regret lack of direction" Dearsley takes on ICSW projects Lloyd's Register to acquire Scandpower "K" Line's capsize charters Canaveral port boss on AAPA exec

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DECEMBER 22, 2009
Obama picks Papp to be next USCG Commandant EPA finalizes emissions rules for large marine engines Chouest affiliate orders PSV's at STX Europe MAN Diesel adds high speed engines

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DECEMBER 22, 2009
Euroseas lays ground for ship buys Company preparing for acquisitions via a potential $175m war chest. North American ports volumes set to pick up Strong recovery predicted in opening months of 2010 but future growth still uncertain. Maritime mutuals hail EU Solvency win Maritime mutual insurance granted special status under EU Solvency II rules. Almi 10-tanker order 'a leap of faith' $650m suezmax order at Daewoo could be too high prices are forecast to fall further in 2010.

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DECEMBER 22, 2009
EPA revamps emission rule TODAY'S much-anticipated final rule on the US 'Emission Control Area' features two major concessions to shipping: on exhaust scrubbers and the Great Lakes Cargo ship sought over death A SEARCH is under way for a cargo ship suspected of being involved in a fatal collision in the Channel on Sunday, Britain's Maritime & Coastguard agency has told Fairplay EC warns on handling charges THE EC has said its repeal of the block exemption on terminal handling charges has sparked a sharp rise in the fees in virtually all European ports Repaired bulker heads to safety BULKER APJ Suryavir is today steaming toward Portland, Oregon, after its crew rescinded an earlier call for US Coast Guard aid Euroseas teams with funds EUROSEAS today announced a joint venture with New York investment funds Eton Park and Rhone Capital to pursue shipping acquisitions Paris warned on shortsea FRANCE'S Short Sea Promotions Centre has warned that government spending neglect could hinder development of sea motorways Spanish fine Rock company ALGECIRAS has heavily fined a Gibraltar bunkering company after its tankers ran aground this morning in a storm

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DECEMBER 22, 2009
FMCSA Delays Part of Roadability Rule President Names Papp to Head Coast Guard Railcar Maker Replaces CEO Retailers Forecast Strong Import Growth Saia Selling Stock to Pay Debt Michigan Takes Fish Dispute to Supreme Court Navistar Reverses Fourth-Quarter Loss French Dockworkers Plan January Strikes Private Equity Firm Buys Transplace YRC Worldwide Wins Key Debt-Swap Approvals Container Carrier Losses Reach $11 Billion U.S. GDP Growth Revised Downward Former Marad Chief Named Virginia Transport Secretary Port of Seattle Buys BNSF Line

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DECEMBER 22, 2009
Shipowners rue COP15 'lack of direction' WTSA to raise rates in February RSGT opened CSAV's refinancing on track OTAL improves Europe/Guinea service

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DECEMBER 22, 2009
Ceara in lead Sergio Machado-led Transpetro confirms that greenfield shipyard Promar Ceara is in the pole position for an eight-ship order. 'Clear' turnaround Three months of gains expected in US container ports after two and a half years of decline. $150m for trio Spanish owner Elcano is reportedly paying $48m to $50m to its own yard to build each of three LPG carriers for Petrobras. SCF eyes mergers Sovcomflot planning to invest more than $5.5bn over next six years as it boosts its shipping and offshore footprint. Box buys ahead? Euroseas' $175m joint venture eyeing up openings in the depressed containership market, CFO says. Transocean fixes US-listed driller's deepwater semi-submersible bags $350m contract off Angola. FMM acts After Brazil promises $8.5bn in new ship and yard financing, fund authorises funding for 155 vessels and a slate of shipyard construction projects. Birth at sea Assistant officer on Leonhardt and Blumberg containership gives birth to daughter off Brazil. Pittas power Euroseas ups spending power after teaming up with two hedge funds in $175m joint venture. CSAV raises cash CSAV shareholders auctions off $21.8m in shares as $360m capital raising drive continues. Back for more Island Offshore places $140m newbuilding order at STX Europe as boss Havard Ulstein suggests the large PSV sector will be the first to turn. Liner losers Leading boxship operators rack up an aggregate loss of $11bn in opening three quarters of 2009, says Alphaliner. Double deal Oceanteam sells slice of two ships to McDermott International, with the US construction outfit hiring the pair for five years. French connection CMA CGM returns four laid-up vessels to the market as slow steaming helps cut the number idle box ships. Change at Trico US offshore owner appoints Rishi Varma as COO after he played a key role in its battle with Christen Sveaas earlier this year. Greek pens 10 Almi Tankers picks Daewoo Shipbuilding for $650m suezmax haul. Triple sale Hurtigruten sells two ships to Torghatten and a third to a Greek owner as it begins fast ferry clear out. SK settles South Korean shipowner gets cash payment and two new charters to settle score with Aussie miner. Power house Lloyds Register swoops to take 100% stake in Norwegian risk management company. Noble hat-trick Keppel Corp makes it three in a row for US drilling contractor with upgrade job on third drillship. Japan inches up Newbuilding export orders move into double digits in November, the first time in three months. NYK in Rio fix Australian mining giant awards a second Japanese shipowner long-term ore shipment contracts. Creeping up Container volumes passing through Singapore continue to grow surpassing those of November 2008.

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DECEMBER 22, 2009
Higher rates for U.S. boxes to Asia Saade: CMA CGM has resumed profitability Alphaliner: Slow steaming soaks up some capacity Swiss WorldCargo adds flights to San Francisco Kansas intermodal facility gets nod from Corps Agility in dispute with U.S. defense contractor WTO rejects China's restriction on copyrighted products Port of Seattle buys rail corridor DOJ: Panama maritime officials bribed

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DECEMBER 22, 2009
Container carriers losses reach USD 11 billion Based on nine-month reports from 16 of 22 top liner companies, Paris-based Alphaliner has calculated their combined operating loss at USD 9 billion. The operating result for the STX to build two new offshore vessels STX Europe has signed an agreement with Island Offshore to build two platform supply vessels. The total value of the contract is NOK 800 million. The vessels will be built Wilson to leave NSA The dry-bulk shipping company Wilson leaves the Norwegian Shipowners' Association as the company thinks the association does not do enough for coastal vessel owners. The company also claims that Hurtigruten winds up fast ferry activities The Norwegian Coastal Express, the Hurtigruten, will sell three fast ferries and charter out two to end its fast ferry involvement by the end of the year. Two ferries, the Gothenburg included in Finnlines' traffic to Spain In January 2010, Finnlines will open a new weekly ro-ro service ' Kotka'Helsinki'Gothenburg'Bilbao'Antwerpen'Helsinki. The Swedish-flagged ro-ro vessels Finnmill and Finnpulp will be employed

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DECEMBER 22, 2009
Bunker prices weaken in Rotterdam Gibraltar congested after bad weather closure. Fujairah price continue to fall Not much bunker demand in Middle Eastern bunkering hub. Exclusive: Disappointment at IMO as COP15 bunker deal slips away 'Nearly agreed text' on bunkers at COP15 would have allowed IMO to 'do its job' says official. Petersburg Oil Terminal mulls expansion Fuel oil transshipment hub also expecting possible record throughout in 2010. Lukoil in deal to develop bunkering infrastructure State-private partnership to cooperate on port and bunkering vessel development. Singapore demand mixed on upcoming holidays Meanwhile Busan traders take different views on supplies for January. Indian refiner to sell January fuel cargoes Fuel oil market flooded with supplies for the past three months. The end of global warming Science to 'bury global warming in an icy grave where it belongs'. Is short delivery of bunkers common? Global ports 'urged' to publish bunker sales figures Singapore and Rotterdam lead by example with official statistics; industry welcomes more information, poll shows.