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Shipping News

Container market stirring as lines adjust capacity
THE container market is starting to stir again after months of quiet consolidation, with lines shuffling capacity around and shippers starting to complain about rising rates.
Lower profits for Hutchison, Cosco
Hutchison Whampoa Ltd's port unit, the world's largest container terminal operator, and Cosco Pacific Ltd posted lower second-half profits as a global recession dampened world trade.
Women on the board: the reality and the myth
MANY businesses worldwide are still failing to make the most of female talent, according to a report issued on International Women's Day by the World Economic Forum.

Strait Talk

Balanced on a knife-edge
ANYBODY sitting through the keynote conference session at last week's Asia Pacific Maritime trade show will have come away with a much better idea of the current state of shipping markets, especially of the liner trades.Â' I know I certainly did, and I spend most of my time writing about those topics.

web site

Shipping News

Container market stirring as lines adjust capacity
THE container market is starting to stir again after months of quiet consolidation, with lines shuffling capacity around and shippers starting to complain about rising rates.
Lower profits for Hutchison, Cosco
Hutchison Whampoa Ltd's port unit, the world's largest container terminal operator, and Cosco Pacific Ltd posted lower second-half profits as a global recession dampened world trade.
Women on the board: the reality and the myth
MANY businesses worldwide are still failing to make the most of female talent, according to a report issued on International Women's Day by the World Economic Forum.

Strait Talk

Balanced on a knife-edge
ANYBODY sitting through the keynote conference session at last week's Asia Pacific Maritime trade show will have come away with a much better idea of the current state of shipping markets, especially of the liner trades.Â' I know I certainly did, and I spend most of my time writing about those topics.

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Hutchison Whampoa profit 12pc up, but HPH 7pc down in downturn Cosco Pacific 2009 profit down 37pc, but revenue up 3.4pc Hong Kong's HPH sacks Amsterdam Ceres management team Ship shortage causes US-bound container pile-up in Asia China Shipping Development Company profits plunge 80.2pc Yangtze mouth's deepwater channel opens for trial operations Hamburg Sud Euro-Med service extends Aegean calls to Aliaga Alphaliner: Rising container capacity threatens rate recovery Oops! Pirates take on warship - but navy lets them go Wan Hai, Simatech, Evergreen launch Sri Lanka-East Africa service New APL terminal in Pakistan poised to be regional hub Bristol wins approval for 1.5 million TEU box terminal DP World orders Cargotec gear for Peruvian terminal Indian commerce minister credits Asia for global recovery GAC Marine Logistics opens new office in Chennai Air China, Cathay to exploit Shanghai cargo market China air cargo boom fuelled by garment backlogs Air India considers leaving cargo business in place

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Safmarine reintroduces upgraded ME 3 service Asian shipowners grapple with ways to tackle piracy Essar Shipping Ports & Logistics ties up funds for expansion SCI & SAIL form 50:50 JV company Malaysia hopes to ink free trade pact with India this year Tech, aerospace partnerships with Belgian firms Toyota to export cars initially through Ennore Port Upsized 6,000-TEU Wan Hai vessel docks at AMCT Rlys to continue busy season surcharge in 2010-11 RITES to run Saudi railway line India, Bangla to allow free movement of cargo trucks Core sector grows by 4.5 pc in February'10 Govt threatens to move WTO against US, EU proposal for carbon tax on exports Nath invites Canadian cos to invest in highway projects Strengthening rupee whips icing off exporters' cake ...urges govt to review duty drawback recovery order WTO members abandon deadline for new trade deal Arun Nanda & Praveen Toshniwal at helm of CII (WR)

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MARCH 29, 2010
Momentum Logistics opens third new office in Abu Dhabi A little under 18 months after it first opened its doors in October 2008, Sharjah-based Momentum Logistics, a subsidiary of international port management company, Gulftainer, has c... UTi with higher revenue and operating profit in Q4/2010 The forwarding and logistics company UTi Worldwide Inc, headquartered in Long Beach CA (USA), has reported its financial results for its fiscal Q4/2010. Revenues were USD 991.5 mil... DB Schenker Logistics with less revenue and operating profit in 2009 DB Schenker Logistics, the logistics division of the state-owned German rail and logistics operator Deutsche Bahn (DB), has released its 2009 results. Revenue fell by 23.4% to... Indian ports see growth With economic activity picking up in Europe and across many other countries, Indian ports have registered growth in February for the seventh consecutive month. India's major ports ... WWL expanding North America-Middle East service Wallenius Wilhelmsen Logistics (WWL), a global leader in factory-to-dealer logistics, has announced significant enhancements to its ocean service from North America to the Middle E... Grimaldi Naples serving Libya with new direct link from Spain The Naples (Italy)-based shipping giant Grimaldi has strengthened its Mediterranean network by a direct ro-ro line connecting Barcelona and Valencia (both Spain) to the Libyan port... New ferry call in Le Havre The "Norman Arros", afast ferry chartered by LD Lines, made its first call at the Terminal de Grand-Bretagne at the port of Le Havre (France) on 29 March. The vessel is t... Emirates and Etihad inaugurate service to Tokyo With the start of the new 2010 summer schedules, the UAE-based airlines Emirates and Etihad launched their new nonstop services to the Japanese capital Tokyo. Etihad's Tokyo servic... European reactions on outcome of EU-US negotiations ACI Europe, the European region of Airports Council International (ACI), the worldwide professional association of airport operators, has welcomed the outcome of latest round of EU... JAL reduces its international cargo fuel surcharge Japan Airlines (JAL) is reducing its international cargo fuel surcharge for flights departing from Japan only on 1 April. In April 2009, JAL began to adjust its cargo fuel sur...

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MARCH 30, 2010
$13.2 million more for Enterprise EDSRA Genoa Design wins Iraqi OSV design contract Stena prototype tests air cushion concept Catamaran caters for beach lovers

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MARCH 30, 2010
UK eyes cash injection for seafarer training Owners and unions welcome government shift on schemes to boost new intake Danaos in moves to fend off cash crunch Containership owner in talks over future funding for ongoing fleet expansion UN climate change group to debate levy on shipping London meeting to be co-chaired by British Prime Minister Gordon Brown and his Ethiopian counterpart Meles Zenawi Excel Maritime names two new senior executives Chief financial officer Lefteris Papatrifon to be replaced with two appointments made from outside the shipping industry

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MARCH 30, 2010
West/East VLCC trades soar US ANALYST McQuilling has reported new data confirming that West-to-East VLCC trades are playing a far more pivotal role than in the past Erika spill verdict is upheld A FRENCH appeals court today upheld a ruling that oil major Total and related parties were criminally responsible for environmental damage from the Erika oil spill Aker-Petrobras deal signed BRAZIL'S Petrobras today signed a three-year deal with Aker Solutions to provide offshore services, Aker announced Ship towed off Florida Keys A DISABLED box ship was under US Coast Guard tow today 56km southwest of Marathon in the ecologically sensitive Florida Keys Seafarers sought in sinking SALVORS are searching today for two seafarers from the reefer ship Kea, which sank about 160 miles off northwestern Spain Results mixed at Polish ports POLAND'S Gdynia, Szczecin and Swinoujscie have recorded a joint 14% drop in cargo handling from 2008 figures Artis raises TBS stake ARTIS Capital Management, the San Francisco hedge fund, is rapidly amassing ownership in TBS International and now holds 17.6% of outstanding shares

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MARCH 30, 2010
Improved Auto Demand Lifts Rail Shipments Maersk to Test No-Show Fees Asian Ocean Carriers Slashed Fleets Pacer Replaces Commercial, Finance Chiefs DOT Taps Freight Groups for Stats Help NAFTA Trade Soared in January Steel Imports Declined in February USPS Seeks One-Day Delivery Reduction Foster Buys Bridge Operation FedEx Express to Test Electric Trucks in LA Transmile Adds Singapore Freighter Service Hutchison Whampoa to Buy Terminals APM Terminals to Standardize Equipment Global Air Cargo Surges 26.5 Percent Danaos Lost $16 Million in Fourth Quarter Teamsters Praise NLRB Appointments Tampa Adds 15 Acres to Container Terminal Ports Group Elects Chairman

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MARCH 30, 2010
Evergreen, Wan Hai and Simatech team up for East Africa Sydney stevedore crushed K+N set to grow in Thailand

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MARCH 30, 2010
'Ghost fleet ' tied to Saipan scrap bid Salvage outfit tipped to win lucrative scrapping contract for Marad's mothballed Suisun Bay Reserve fleet. Pricing prospects for Scorpio IPO Wall Street appears anxious for Lolli-Ghetti family tanker outfit to reveal the pricing scheme for its initial public offering. Iron ore pricing boosts bulkers? Drybulk stocks may see major gains following new iron ore pricing schemes, says an analyst at Deutsche Bank. Kirby tug in 'big river' crash Barge sinks following collision between two tugs in the Mississippi River. CMB proposes payout slash Euronext-listed parent of drybulk outfit Bocimar may chop end of year dividend as much as 24%. Weather sparks piracy threat Marad issues urgent three-month warning for US-flag ships transiting pirate-infested waters. Total fails in Erika appeal Oil major's protest it was not responsible for the 1999 disaster falls on deaf ears at French appeal court. Asian carriers in fleet cull Hanjin and NYK lead the pack as Asian carriers shed tonnage via scrapping and second hand sales, Alphaliner says. Genco profit forecast sliced A looming end to several charter contracts leads analyst to cut full-year view on Peter Georgiopoulos-led shipowner. Wet woes are brushed aside Six out of 10 tanker charterers predict rate rise this year up from only 20% in January, survey shows. Greek buys $105m VLCCs Almi Tankers pens apparently expensive newbuilding pair at Daewoo Shipbuilding. Collision master bailed Filipino captain of Japanese bulker which hit and sank Indian Coastguard boat last week freed on bail. Juicy bonus for Jinhui pair Founders Ng Siu Fai and Ng Kam Wah Thomas earn $21,443 per day each in 2009 thanks to huge payout. Genting cuts cruise losses Malaysia's former Star Cruises fared better in 2009 as it focused more on 'gaming-centric' routes. Cosco Pacific profit drops Hong Kong-listed port player reveals worse than feared decline in its full-year bottom line. Danaos sinks into the red John Coustas-led containership company slumps to fourth quarter loss; reveals financing shortfall. Two new faces at Excel Gabriel Panayotides-led Greek bulker owner fills two management seats as CFO heads to board. Banga sells Noble stock Noble veteran Harindarpal "Harry" Banga has cut his stake in Hong Kong commodities group. Maersk adds Vietnam stop Danish liner giant to add direct call at Vung Tau to US west coast service with post-panamax tonnage. Socatra books MRs at Mipo Societe d'Armement et de Transport (Socatra) has ordered four 37,000-dwt tankers at Hyundai yard. NOL secures $150m loan Pair of boxship newbuilding giants to be part-financed by fresh funds from Japanese bank. NOL volumes jump 37% Liner firm sees second month of huge rise in container volumes as it ties up loan for newbuildings. Long Beach bonds rated 'AA' Ratings agency gives thumbs up to US west coast port's planned bond issues Trio face ferry charges Shipping boss, master and first mate will stand trial over sinking of Princess Ashika off Tonga last year.

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MARCH 30, 2010
Hyundai 2009 loss $499 million Maersk seeks $500 million cost reduction Bank: Early container recovery 'unlikely' Chinese airlines consider St. Louis market O'Leary named Alaska Railroad's interim CEO Miss. DOT chief rips Obama's transport policies Bersin may not need Senate confirmation U.S. indicts Hong Kong man on export violations Reliability also has downside Hutchison Whampoa profit up despite downturn COSCO Pacific profit drops Long Beach port receives strong bond rating

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MARCH 30, 2010
Curoil confirms product availability All grades available despite refinery strike. Stena Bulk to test air cushion ship in Sweden Reducing frictional resistance is expected to see energy savings of 20 to 30 percent. Prices firming across Europe Double-digit gains in South Europe. Prices lack direction in Fujairah Durban prices also mixed. NYK's first 'bubble' ship ready Company says it will be the first vessel engaged in overseas transport to make use of a permanently installed air-lubrication system. Bunker surcharges under attack Asian shippers call the charges 'unreasonable and discriminatory'. Total loses appeal over Erika spill French appeals court confirms that oil major was negligent. Quadrise Fuels 'pleased' with marine sector progress Hopes its emulsion fuel will make headway in marine market through cooperation with Maersk, reports narrowing losses. RN Bunker joins Russian bunker association Members of RosMorRechBunker cover 70% of the Russian bunker market. Lukoil not yet active in Constanza Bunker prices strengthening Hong Kong prices, however, are generally stable. Brightoil spends $7.7 million on cargo pumps Takes order from New York-listed firm, which will supply 180 pumps through 2011. Singapore floating storage construction tender in progress Government agency completes phase two project studies and targets to call for tender in Q2. Hong Kong releases 2009 bunker fuel sales data Official statistics similar to industry estimates of 5-6 million mt.