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Shipping News

Economic cost of piracy 'being felt globally'
Continuing piracy in hot spots and the threat it poses to the freedom of navigation has global ramifications, said Deputy Prime Minister, Coordinating Minister for National Security and Minister for Home Affairs, Teo Chee Hean, yesterday.
EU raids Asian shipping firms' Europe offices in antitrust probe
European Union officials have raided the European offices of a number of Asian shipping firms as part of a probe into suspected price fixing in the sector, the firms said yesterday.

Strait Talk

Debate over freight derivatives
CONTAINER derivatives appear to be the hot topic of the moment. Last week Singapore-based Cleartrade Exchange and London-based shipping analyst Drewry unveiled their WorldContainer Index, which is assessed by Drewry.

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Shipping News

Economic cost of piracy 'being felt globally'
Continuing piracy in hot spots and the threat it poses to the freedom of navigation has global ramifications, said Deputy Prime Minister, Coordinating Minister for National Security and Minister for Home Affairs, Teo Chee Hean, yesterday.
EU raids Asian shipping firms' Europe offices in antitrust probe
European Union officials have raided the European offices of a number of Asian shipping firms as part of a probe into suspected price fixing in the sector, the firms said yesterday.

Strait Talk

Debate over freight derivatives
CONTAINER derivatives appear to be the hot topic of the moment. Last week Singapore-based Cleartrade Exchange and London-based shipping analyst Drewry unveiled their WorldContainer Index, which is assessed by Drewry.

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Hapag-Lloyd borrows US$925 million to build ten 13,000-TEU ships EU trust busters raid major carriers looking for rigged markets Grand China Shipping adds calls to Australia Mississippi River reopens on one-ship-at-a-time basis near Natchez WB: China, Brazil, India, Indonesia, Korea, Russia to provide 50pc of world growth MCC adds Vladivostok to intra-Asia IA-8 northern service Fesco back in black with US$456 million profit after sale of NCC stake Alashankou's first quarter trade grows in both volume and value Guangxi Autonomous Region exempts perishable truckers from tolls Savannah April container volume up 8pc, second highest level ever Chittagong port restores CMA CGM's 48-hour Wednesday window berthing Agility's quarterly net profit falls to US$27.88 million OW Bunker urges shipping industry to outsource fuel procurement DHL to expand presence in Africa's oil and energy sector CEVA expands Fiat contract to add Chrysler brands to portfolio United Continental to launch HK-Tokyo service in October Qantas launches new Sydney to Dallas-Fort Worth service Turkish ground handler Celebi expands in Indian aviation

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EC raids leading lines for suspected breach of monopoly abuse rules Jiro Asakura assumes charge as "K" Line President & CEO Higher output triggers 12.5 pc plunge in veg oil imports in April Row over ayurvedic exports likely to be resolved soon Sharma to pitch for interest relief to exporters After demerger, Essar Ports seeks to double handling capacity Maritime park to come up in Bharuch Port Pipavav team showcases strengths to Udaipur trade Govt may levy service tax on rail freight Despite rice, wheat stocks mounting, export ban may not be lifted Forex reserves drop $ 3.98 bn to $ 309.5 bn Pharma exporters call for mandatory bar coding to be withdrawn A good manager is one with an open mind EEPC India opens Ahmedabad office IFFCO to manufacture new grade urea ammonium phosphate at Kandla

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MAY 18, 2011
Panalpina launches second direct weekly Hong Kong-Huntsville flight The Basel (Switzerland)-based global forwarding and logistics group Panalpina has strengthened its own controlled air freight network with the addition of an exclusive direct cargo... Saleg shoulders project management for Mittelelbe GmbH Saxony-Anhalt's regional development company (Saleg) is taking on responsibility for managing a project to develop more land at the Mittelelbe GmbH's industrial and business park. ... Logistic Services Danubius renamed DB Schenker Rail Romania Logistic Services Danubius SRL was recently renamed DB Schenker Rail Romania SRL in Bucharest. The objectives of DB Schenker Rail Romania include shifting more freight transport fr... Lorry-Rail: freight from Spain to Scandinavia in two days Lorry-Rail just launched its new rail service between the Spanish border and southern Sweden, via Krefeld (Germany), and via Hanover from this autumn. The service provider is there... American Railcar Industries to design und develop railcars for Indian Railways American Railcar Industries (ARI) has announced that it has landed a USD 9.6 million contract from Indian Railways. Under this agreement, ARI will work with Indian Railways to asse... ZDK supports the rescue card The German Federation for Motor Vehicle Trades and Repairs (ZDK) has launched an information campaign to support the spread of rescue cards via commercial vehicle companies. Z... Ackermann wants to build 60 light CFRP trailers The German materials specialists TTT The Team Composite AG and the vehicle manufacturer Ackermann have joined forces to further develop the use of carbon fibre reinforced plastic t... System Alliance introducing new time options The general cargo collaboration System Alliance is introducing new premium services to give customers more flexibility. With effect from 1 July, the cooperation will offer more tim... SIA Cargo adds Kansai to its network Singapore Airlines Cargo (SIA Cargo) is operating twice weekly B747-400 freighter services to Kansai airport (Japan) via Hong Kong with effect from 13 May till 29 October... Germany: airfreight transport rises by over 80% between 2001 and 2010 Information from Germany's Federal Statistical Office (Destatis) shows that the amount of airfreight at the country's airports has risen by 80.7% since 2001. The volume of conveyed... Intense lobbying could delay construction of Mombasa terminal Intense lobbying over the award of tenders at the port of Mombasa (Kenya) is threatening to delay construction of the second container terminal which is funded by the Japanese gove... K Line announces change of top management The Japanese shipping company Kawasaki Kisen Kaisha Ltd ("K" Line) has announced that its president and CEO, Kenichi Kuroya, resigned with effect from 13 May. At a subseq... Harwich makes space for largest jack-up vessel Harwich International Port, one of the UK's leading multi-purpose freight ports, has welcomed the maiden call of the "MPI Adventure" in readiness for its participation in... Port of Antwerp: "MSC Savona" sets new container handling record The port of Antwerp (Belgium) has set yet another new record for the third time in just a few months. On 14 May, the "MSC Savona", with a record draught of no less than 15.5 m, ent... Ceva Logistics expands agreement with Fiat The logistics and SCM specialist Ceva has augmented its agreement with the Italian Fiat Group with a contract extension that includes the supply chain management for all Chrys... Agility reports marked collapse in Q1/2011 earnings Agility, a global logistics corporation based in Kuwait, reported that its profit in the first quarter of business year 2011 plunged to KWD 7.7 million (EUR 19.69 million) from KWD... Kuehne + Nagel opens new office in Esbjerg Switzerland-based logistics corporation Kuehne + Nagel has opened a new facility in Esbjerg (Denmark), thus strengthening its presence in the Danish market and particularly in the ... Hapag-Lloyd confirms inspections by EU commission The EU Commission is currently carrying out investigations with European shipping lines to see whether there have been violations of EU competition law since the abolition of the l... Loxxess reinforces senior management Loxxess, a German logistics group that specialises in complex outsourcing logistics projects for industry and trade, engaged Frank Marquard as a new member of its senior management...

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MAY 18, 2011
ECO expands its newbuilding plans Bollinger inks deal for Bouchard tank barge Ukrainian president seeks shipbuilding revival Austal delivers its largest catamaran yet

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MAY 18, 2011
Pair of small city projects net Port of Olympia funding NYK announces resignation of current President & CEO Bellevue cadet earns honor as distinguised Coast Guard graduate Carrier reports investigation by UK Fair Trading Office UK P&I Club review finds assets greatly exceeding liabilities

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MAY 18, 2011
Rio Tinto's China iron ore exports breaks 1bn tonne mark Strong demand keeps miners busy but capesize bulker market still swamped with tonnage Chinese charterers fix two VLCCs at $32,000 per day Chinese charterers have booked two very large crude carriers owned by Malaysia's MISC for three years at $32,000 per day each, as rates for VLCC charter contracts of this length continue to edge down Lines braced for further losses in second quarter Carriers look to long term period charters A dozen European and Asian lines caught up in cartel raids Smaller global players escape scrutiny ' for now Container freight indices fill transparency gap Carriers find movements accurately reflect ups and downs of market rates Asian shippers must make their case country by country Joint Global Shippers' Forum steps up the antitrust pressure, but governments show little appetite for change Shipping faces further scrutiny by Brussels Liner antitrust probe unlikely to be last as Competition Directorate targets industry Price-fixing precedent seen in air cargo Shippers could experience same sort of charges as airfreight carriers, say lawyers Long wait for an unknown outcome The International Group of P&I clubs is undergoing its third EU investigation with no decision expected until at least the end of the year Marshall Islands refuses to flag anti-piracy fleet Government supports forceful action but cannot accept privately-armed or military vessels on to register Box line probe: what happens next? After the dawn raids, documents will be examined and an internal audit carried out India weighs changing law to permit liner conferences Shipping Corporation of India says it has persuaded ministry to agree to re-think How to take the industry's pulse Ocean carriers and their customers recognise the need for an index that could benchmark freight rates in longer-term contracts The three new container freight indices How rivals compare VLCC owners endure difficult times With falling rates, an oversupply of tonnage and fluctuating crude oil prices, the sector has been struggling in recent months Commodity prices' volatility could shake dry bulk and tanker markets The next few weeks will indicate whether we are seeing a fundamental adjustment in prices that will help boost economic activity Italian shipowners stick with domestic lenders More than 80% of outstanding loans are with supportive national banks Steel demand recovering faster than expected, says OECD But pre-crisis industrial peak in advanced economies unlikely to be passed until second half of next year Odfjell to sell stake in terminals US financial company will acquire 49% interest in Rotterdam and Houston Baltic Exchange dry FFA trading screen to launch June 8 Freight indices provider hopes BaltEx system will become 'first port of call' for FFA market Coming clean on greenwash Can shipping really have a sustainable future ' or is this vision just another green illusion? Ship Finance sells oil bulk ore carrier for $11m Avoids paying costly survey for 20-year-old Front Breaker An inspector calls Whatever the rationale behind Brussels competition officials' co-ordinated visits to offices, box lines will be acutely aware of what could lie ahead Hamburg box throughput rises 18.2% year on year Port's own outlook takes more cautious line than that of biggest operator HHLA Rising fuel costs hit Irish Continental Group sees €1.2m pre-tax loss in first quarter German yards fight to survive A declining orderbook has forced shipbuilders to renew call for state support The 100 years' war on price fixing How the time line unfolds US still seeks further reform While liner conferences are already outlawed, attempts to end limited immunity continue European ruling still causes debate Three years after liner conference decision, impact on container market remains unclear RCL losses deepen Bunker prices and currency movements blamed as first-quarter shortfall rises to more than double the loss in year-earlier period

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MAY 18, 2011
Shippers: don't blame us EC RAIDS on box liners are an attempt to ensure compliance with EU law, rather than a reaction to complaints, the ESC told Fairplay today EC adds MSC raid EC RAIDERS this morning added MSC to the roster of giant box groups with inspectors rifling through records US adds dredging funds CHANNEL deepening at US East Coast container ports has moved forward with the release of the US Army Corps of Engineers work plan for 2011 Project cargo rebound seen MULTIPURPOSE ship operators can hope for a strong rebound in project cargo flows, but they'll have to compete harder for business, an Antwerp conference heard today Billionaire wins Windstar A COMPANY controlled by US billionaire Philip Anschutz has placed the top bid for the cruise assets of bankrupt Ambassadors International, court filings revealed Wilson, Sons unveils growth plan BRAZILIAN powerhouse Wilson, Sons has outlined a $1.8Bn expansion plan for its offshore, towage, yard and port ventures River stretch reopened US AUTHORITIES have reopened a stretch of the flood-swollen Mississippi to barges, which had been held up since the river section was closed on 15 May Drybulk weakening seen MORE weakening was predicted today for the drybulk sector Second OBO charter axed TANKER operator Frontline has terminated its long-term charter party for a second 169,000dwt OBO carrier from a series of eight such vessels France focuses on yard innovations FRANCE today revealed a €100M ($132.34M) scheme to help French shipbuilders develop innovative ship designs Crew from sunken tug rescued BOLUDA today described a dramatic rescue of 11 crew members from a sinking tug off Portugal Aboitiz losses widen PHILIPPINES inter-island shipping operator Aboitiz Transport System has reported a 63% year-on-year increase in losses to 231.06M pesos ($5.34M) for the first quarter

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MAY 18, 2011
Heavy Truck Orders Up 31 Percent in April Net orders for heavy trucks surged 31 percent in April from March, but the pace of those orders is creating... CSX Directs $160 Million to National Gateway CSX Transportation said it will invest an additional $160 million over the next several years to complete the National Gateway... EU Antitrust Probe Includes Asian Carriers European Union antitrust officials raided the European offices of a number of Asian carriers on Tuesday in addition to European... Coast Guard Reopens Key Miss. River Grain Route A 15-mile section of the Mississippi River at Natchez, Miss., has reopened to limited barge traffic, restoring traffic on the... Global Economic Climate Brightens The global economic climate is in better shape than at any time since 2007 but could be hurt by public... Rotterdam Says Access Road Funding Vital Rotterdam risks losing its lead as Europe's biggest container port over Antwerp and Hamburg without a multi-billion dollar investment to... International Cargo Volume Rises 10 Percent at ANA International cargo volume jumped 10 percent to 43,975 tons in March at All Nippon Airways. But although it was the 19th... USPS Says Cash Shortfall Would Hit Operations The U.S. Postal Service is putting new urgency on its bid for financial relief from Congress, saying its operations will...

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MAY 18, 2011
Liners hit by EC antitrust inspections Moody's sees stable 2011 Beirut posts mixed results in Q1 11 MSC's Lion roars into Felixstowe DFDS: a promising start to the year

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MAY 18, 2011
Launch date for Baltex Baltic Exchange reveals early June roll-out for freight derivatives central trading screen Bounceback caught EU eye A $36bn swing to profit in the container line business may have aroused suspicions of price fixing, says Maersk veteran. TTA sets Oslo course Asia Offshore Drilling hopes to complete a listing on the Oslo Axess by mid June. Tamai on the up MOL-linked Japanese bulker owner pushes up annual earnings, with better to come this year. Globus back for more George Karageorgiou-led company returns to the Steet with follow on offering to fund vessel purchases. Odfjell: private equity first Lindsay Goldberg takes a 49% holding in three Odfjell terminals as Oslo-listed company gets more than it bargained for. Italy launches ferry probe Shipowners face another price-fixing investigation - this time involving GNV, Snav, Moby and Sardinia Ferries. EU deepens probe Brussels targets more container lines in massive price fixing investigation. Car carrier speeds off Tugs give chase after MOL vessel breaks moorings in strong winds in North Shields, UK. Quay collapses Cargoship escapes damage after gravel and pier plunge into sea at Karmoy. Master-stroke saves ship Quick-thinking captain puts pirates in choppy waters to prevent hijack of Mitsui OSK Lines car carrier. Karlsen on the rocks Canada-based owner placed in receivership after being unable to pay repair bill for cruiseship that grounded in Antarctica. Cargoship refloats Checks take place after Ukrainian-owned Vectis Isle went aground off Greece. OBO blow for Frontline John Fredriksen-controlled tanker titan will shoulder an $8m hit in the second quarter following scrapping of Front Breaker. Philippines calls for fine Environment secretary Ramon Paje wants penalty imposed on Japanese bulker that hit reef.

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MAY 18, 2011
EC checking for antitrust violations The European Commission said its officials have conducted unannounced inspections at the offices of container liner shipping companies Tuesday, saying it "has reason to believe that the companies concerned may have violated the antitrust rules tha... Army Corps funds Charleston Harbor Study The U.S. Army Corps of Engineers on Tuesday released its work plan for the $5 billion Army Civil Works program through the end of fiscal year 2011. The plan includes $150,000 to begin a feasibility study for deepening Charleston Harbor beyond its ... FMC reviews 19 OTI license applications The U.S. Federal Maritime Commission has received 19 license applications and changes for review. The FMC received non-vessel-operating common carrier license applications from Dunblare Import-Export, Medley, Fla. (Mark D. Minors, vice president);... $346 million supports USDA food aid programs The U.S. Department of Agriculture will award more than $346 million in international assistance grants, which includes transportation and freight costs, under the Food for Progress and McGovern-Dole International Food for Education and Child Nutr... GT Nexus spars with INTTRA over patents Shipping portal GT Nexus filed a complaint in U.S. District Court in San Jose, Calif., on May 2, claiming rival INTTRA is attempting to pressure GT Nexus, its customers and partners by asserting GT Nexus requires a license to INTTRA patents. GT Ne... CN improves Toronto-area terminal Canadian National Railway Co. said Tuesday it has increased capacity at its Brampton Intermodal Terminal (BIT) due to growing container volumes and to ensure a high level of service for intermodal customers across its system. Through the end of Ap... Volga-Dnepr handles own cargo in Russian airports The Federal Air Transport Agency of Russia's Ministry of Transport has awarded a certificate to Volga-Dnepr Airlines to perform its own cargo handling at Russian airports. The certificate eliminates the need for Volga-Dnepr Airlines to use external... Blank Rome's Warde relocates to Hong Kong Blank Rome's Warde relocates to Hong Kong Blank Rome's Warde relocates to Hong KongConor Warde has relocated from the Washington, D.C., office of Blank Rome to its affiliate Blank Rome Solicitors in Hong Kong. Warde is a maritime and corporate att... Maersk Alabama chases away pirates TheMaersk Alabama,escaped another pirate attack last weekend in the Gulf of Aden. The famous victim of a 2009 attack, in which its captain was held hostage for three days on a lifeboat... Unannounced inspections

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MAY 18, 2011
Fujairah market firm Suppliers compete in the Middle Eastern hub. IFO prices generally down HS products were tight for prompt delivery in Hamburg. Pressure grows to cut shipping's carbon emissions EU ministers want IMO to agree policy 'without delay'. Bunker fuel 'no longer a by-product' Describing the main fuel used by ships as a 'by-product' is inaccurate, according to industry representatives. 'Foreign-flagged' ships selling bunker fuel to black market India police seize barge and make arrests. Firms join forces to build LNG bunkering business Partnership to develop 'world's first LNG bunker vessel operation', new design offers flexible cargo configuration. Mid-week bunker prices on downtrend Demand largely average across key Asian bunker ports on Wednesday. Dutch firm starts construction of storage facility Facility to provide storage for refined products such as diesel and marine fuel. Manufacturer updates marine engines to IMO Tier II & III compliance Upgrade will ensure engines can continue to operate in ECAs. Singapore bank downgrades NOL stock to 'hold' Due to uncertain global economic climate and rising costs of bunkers. Momentum 'moving against' shipping firms Signs of improvements in freight rates before July have 'evaporated,' says Alphaliner. Winland posts Q1 losses on bunker costs, market downturn Results indicate 'shipping market volatility', says Winland president. Container rates to climb amid brisk demand and firming bunker prices China, South Korea and Japan 'contributed to a large portion of global shipping volume,' says UASAC head.