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<title>SHIPPING - Transportweekly.Com</title> 
<link>http://www.transportweekly.com</link> 
<description>SHIPPING</description> 
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        <title><![CDATA[ Termination of equity hedge ]]></title>
        <pubDate>05.09</pubDate>
        <description><![CDATA[ Today, Concordia Maritime has terminated the equity hedge that has been in place since 2005 and which currently amounts to USD 135 million, equivalent to approx. 50% of equity.&nbsp;The decision will not have any impact on the income statement.&nbsp;&nbsp;Concordia Maritime's functional currency is USD, i.e. the major part of its revenues, costs and the balance sheet are denominated in USD. This means that changes in the SEK/USD exchange rate affect both the result and equity. A stronger USD increases equity while a weaker USD reduces equity. An equity hedge reduces the effect of this type of change in exchange rates. There will now be no hedge against exchange rate fluctuations. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/54111/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/54111/</guid> 
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        <title><![CDATA[ Wartsila expands further in Norway ]]></title>
        <pubDate>05.09</pubDate>
        <description><![CDATA[ Wartsila is gearing up for strong growth in the Sunnhordland region and aims to strengthen its position as a leading provider of total solutions to marine customers, both in Norway and globally.&nbsp;Wartsila Corporation today announced the opening of two major expansions at the company's service workshop and gear plant in Rubbestadneset. The investment of 3.4 million euros is a further step in Wartsila's ongoing development plan, aimed at strengthening its position as a leading provider of power solutions to marine customers, both in Norway and globally. It is also an indication of Wartsila's commitment to the Sunnhordland region and to Norway in general.&nbsp;&nbsp;The extensions will raise the production capacity in the Rubbestadneset gear factory and service workshop to a level that corresponds to future market requirements and the needs for flexibility.&nbsp;"To boost our competitiveness within the maritime industry in Norway and globally, we have to develop and improve our manufacturing processes. These extensions give the company a higher level of capacity, both within gear production and in the delivery of service solutions, to our customers. It also allows for more flexibility and broadens our service offerings," says Mr Arne Birkeland, Managing Director, Wartsila in Norway.&nbsp;Wartsila has recently made strategic acquisitions, is actively investing in its infrastructure in Norway, and is focusing on expansion into new business areas. These moves reflect the excellent business potential that the company sees in Norway, a country with a strong position in the global maritime industry.&nbsp;&nbsp;The President & CEO of Wartsila Corporation, Mr Ole Johansson commented: "Norway offers great opportunities for Wartsila, especially in the offshore and oil & gas segments, and is one of the most important future key markets for us. Norway has long traditions in shipping, excellent know-how, as well as a large shipyard industry that is actively planning investments in new ships and installations. Norway also offers very valuable expertise and highly trained and skilled personnel in many areas, including ship design. This creates great opportunities for us to improve our technological know-how and to boost our competitiveness".&nbsp;The new gear production facility will house gear assembly, welding and product testing.&nbsp; The company's new extension of the services facilities will house equipment for component overhaul, ship service and spare parts production. The gear factory extension is approximately 800 square meters, and the new service workshop about 650 square meters in size. In addition to these latest expansions, Wartsila has other building projects in the works in Norway, including a new 16,000 square-meter automation factory in Stord. The investments in expanding these facilities demonstrate Wartsila's strategic direction in the Norwegian market, aiming to be a total service provider to its customers, providing the whole package from the initial design work through the operative stages and throughout the service cycle.&nbsp;Wartsila has more than 1100 employees in Norway. Recently, Wartsila opened offices in Stavanger, Bergen and Oslo, and plans to establish a presence in other parts of the country as well. Wartsila has also been active in strategic acquisitions, most recently with the purchase of the leading ship design company, Vik-Sandvik. Earlier this year Wartsila also acquired the ship service company Maritime Service in Alesund, and in 2006 Wartsila bought the Stord based company AKPAS.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/54097/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/54097/</guid> 
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        <title><![CDATA[ Höegh re-enters market ]]></title>
        <pubDate>05.09</pubDate>
        <description><![CDATA[ The Norwegian vehicle carrier operator, Höegh Autoliners, has made a foray into India’s vehicle export trade recently, when its Pure Car Truck Carrier (PCTC), Höegh Chennai, loaded 2,450 Hyundai cars for North Europe and 40 Ashok Leyland buses for the Middle East. The loading operations took place at Chennai Port on August 2 and 3.According to Exim News Service, Höegh has been associated with India since 1937 and its first vessel, Höegh Silverlight, called at the then Calcutta Port on March 11, 1937. Höegh Lines had been operational in India from 1937 to 2000.The company apparently enjoyed a strong market position and earned a good reputation throughout the 63 years of its presence in the country.Höegh has now made a comeback with the establishment of an Höegh Autoliners’ representative office in Chennai from June this year.The focus of interest now is India’s rapidly-growing auto exports and Höegh aims to play a pivotal role in this regard in the years to come. "The inaugural call of Höegh Chennai in Chennai this month is a sign of Höegh Autoliners’ wish to become a preferred service provider for the Indian automotive industry", said the company’s Vice-President, Commercial, Mr Börre Mathisen, who recently visited the state.Höegh Autoliners is the leading global provider of ro-ro vehicle transportation services. The company operates approximately 70 PCTCs. In 2007, Höegh Autoliners carried about two million Car Equivalent Units (CEUs) annually, making 3,000 port calls.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/54080/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/54080/</guid> 
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        <title><![CDATA[ DCT Gdansk handles its largest ship ]]></title>
        <pubDate>04.09</pubDate>
        <description><![CDATA[ The arrival of the 2732TEU Racha Bhum at DCT Gdansk’s terminal in Poland on 1 September was noteworthy on three counts. Firstly, she was the first vessel to call at the deepwater terminal on her maiden voyage; secondly, she is the biggest ship so far handled by DCT Gdansk; and, thirdly, she is the first vessel to load containers at this Polish terminal for direct carriage to Asia.Racha Bhum was delivered to the Singaporean carrier Regional Container Lines (RCL) by the Polish shipyard Stocznia Gdynia at the end of August and chartered by Hapag-Lloyd for her delivery voyage to Asia. She loaded 1002 empty containers, equivalent to over 1500TEU.&nbsp;DCT Gdansk handled the ship very efficiently. Using three ship-to-shore cranes, the loading rate averaged 88.1 moves per hour.&nbsp;According to DCT Gdansk’s Chief Executive Officer, Boris Wenzel, the successful loading of this vessel in just 12 hours is further proof that DCT Gdansk is ready to handle deepsea vessels when carriers decide that the time is right for direct services into the Baltic.&nbsp;Mark Wottke, Managing Director of Hapag-Lloyd Poland, praised the excellent cooperation between all of the parties involved, including those from DCT Gdansk and the vessel owner. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/54031/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/54031/</guid> 
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        <title><![CDATA[ Wartsila acquires Navelec ]]></title>
        <pubDate>04.09</pubDate>
        <description><![CDATA[ Wartsila has acquired Navelec SAS, a French company specializing in marine navigation and communication systems, electrical marine services, and control and automation services. Navelec's main office is located in Le Havre, in France, with branch offices in St. Nazaire and Brest.Navelec enjoys a valuable reputation among its key customers and has a broad knowledge of various vessel types, including fly boats, ferries, carriers, tugs and cruise ships. Navelec also has promising growth opportunities within the yacht segment.&nbsp;&nbsp;"Through this acquisition, Wartsila is able to broaden its service offering and technological knowledge in the areas of navigation and communication. It also strengthens Wartsila's position as the leading service provider within electrical marine and automation services. Furthermore, the acquisition gives us a strong foothold in one of France's largest ports, Le Havre, and the nearby region. Together, Wartsila and Navelec can look forward to attractive growth opportunities as a total service provider for the marine segment," says Tage Blomberg, Group Vice President, Wartsila Services.&nbsp;Navelec's annual net sales were 7 million euros in 2007. The company employs 45 people, of which 26 are field service personnel. Navelec's businesses will be integrated into Wartsila Services' business in France. All employees will continue as Wartsila employees. Wartsila acquired Navelec from Societe financiere pour l'industrie et l'agriculture (Sofia). The value of the deal is not published.&nbsp;During the past months Wartsila Corporation has, through acquisitions, strengthened its existing services offering and expanded geographically. The company has also been able to enter new service categories. In addition to Navelec, Wartsila has this year acquired Maritime Service and Vik-Sandvik of Norway, International Combustion Engineering of Denmark, and Claus D. Christophel Mess- und Regeltechnik GmbH of Germany. These acquisitions support the strategy of Wartsila to strengthen its position as a total solutions provider and to be the most valued partner for its customers.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/54012/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/54012/</guid> 
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        <title><![CDATA[ Hamworthy to supply ethylene reliquefaction systems ]]></title>
        <pubDate>03.09</pubDate>
        <description><![CDATA[ Hamworthy has won orders to supply ethylene reliquefaction systems (LEG-RS) for two liquefied ethylene gas carriers (LEGCs) to be built in Japan for Japanese owners: a 6,500m3 vessel ordered by Daiichi Tanker Co from Shitanoe Shipbuilding Co, and a 4,300m3 vessel ordered by Kobe Marine Co from Higaki Shipbuilding.The two shipsets of LEG-RS equipment were ordered by Izumi Steel Works Ltd, a major supplier of cargo handling systems in Japan. Izumi has been nominated as the supplier of the complete cargo handling systems including cargo tanks. The LEG-RS equipment is due for delivery during the first six months of 2010.“Historically we have received orders on larger LPG carriers but over the last two years we have seen more contracting for smaller LEGCs and semi pressurised LPG carriers,” said Stein Thoresen, director of the company’s LPG activities. “These latest two orders represent a valuable addition to Hamworthy Gas Systems’ present portfolio of contracts which now total 20 LPG and LEG ships.”Hamworthy reliquefaction plants are well proven systems ready to be installed on board. The plants are delivered complete including all main equipment and control devices. Ethylene vapour is reliquefied in cascade with a separate refrigeration system integrated with the direct cargo cycle. Hamworthy uses environment-friendly refrigerant in the refrigeration cycle. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53988/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53988/</guid> 
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        <title><![CDATA[ GA to improve its cargo hub services  ]]></title>
        <pubDate>03.09</pubDate>
        <description><![CDATA[ The Grand Alliance (GA) will further improve its cargo hub services in the Mediterranean. The GA’s transshipment hub will be changed from Gioia Tauro to Cagliari International Container Terminal (CICT), in southern Sardinia, Italy, from mid September 2008.Customers using the EU2 and AEX services will benefit from this change, due to a lack of congestion at Cagliari. As a result, schedule reliability will be enhanced, helping us to better meet customers’ needs.The Grand Alliance, formed in 1998, is the leading integrated consortium in global container shipping.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53987/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53987/</guid> 
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        <title><![CDATA[ WTSA overhauls bunker fuel surcharge formula]]></title>
        <pubDate>03.09</pubDate>
        <description><![CDATA[ After a comprehensive internal review that included feedback from customers, The Westbound Transpacific Stabilization Agreement (WTSA) has revisited, and made changes in how it calculates, guideline bunker fuel surcharges in the U.S.-Asia freight market.WTSA member shipping lines have adopted a simpler, more transparent formula for dry cargo which eliminates a number of variables that made the formula more complex; distinguishes between bunker fuel-related costs for West Coast port-to-port and East Coast all-water services; and narrows the formula tiers – the threshold fuel prices that trigger surcharge increases and the amount of those increases – to ease the impacts of monthly adjustments.WTSA member shipping lines intend to implement the new formula effective October 1, 2008 in their tariffs and in service contracts going forward, for dry cargo moving from all U.S. origin locations to all Asian destinations. A separate guideline covering refrigerated cargo will be finalized and announced shortly, to take effect on November 1, 2008.“The new formula is a significant departure from how WTSA has calculated its bunker surcharge guideline in the past,” said WTSA executive administrator Brian M. Conrad. “Container lines face an urgent need to recover fuel costs that have more than doubled in 18 months. In turn, customers are being asked to absorb a sizable increase in their freight costs, and carriers recognize that this will require an easily justifiable, transparent process.”WTSA began the process of modifying its surcharge formula by eliminating unwieldy steps that were part of an effort to arrive at a complete “average of averages” that reflects the cost impacts of rising fuel prices on multiple, different container services. Specifically, the new bunker surcharge formula:•&nbsp;Tracks a single marine fuel, IFO 380, which accounts for 98% of fuel-related costs.•&nbsp;Eliminates the weighted average of weekly prices at 11 load ports.•&nbsp;Uses a straight average of Hong Kong and Los Angeles prices for the West Coast; and Hong Kong and New York prices for the East Coast surcharge.•&nbsp;Uses fuel price data for the three ports from a publicly available web site, www.bunkerindex.comA second set of changes involves straightforward components for constructing fuel cost impacts from changes in fuel prices. These include: •&nbsp;Vessel effective capacity •&nbsp;Westbound allocation of deadweight capacity after eastbound empty repositions•&nbsp;Maximum capacity for loaded containers before reaching a ship’s weight limit •&nbsp;Daily fuel consumption •&nbsp;One-way steaming time (excluding time in port) Averages for the above components vary for West Coast and East Coast services, but are constant for each. A simple calculation adjusts effective capacity to allow for the deadweight impact of empty returns; multiplies the fuel price (per ton) by consumption (tons per day), then by transit time (steaming days); and finally dividing by the maximum number of loaded containers by weight for the ship’s effective capacity, to produce an average fuel cost per sailing per 40-foot container (FEU).Under the new formula, for example, the weighted average fuel price of $689.60 per metric ton developed under the current formula for the month of August 2008, translates into a bunker fuel surcharge of&nbsp; $767 per 40-foot container (FEU) from the West Coast, and $1,515 per FEU from the East Coast. Going forward the monthly-adjusted totals will be fine-tuned further, developing distinct weekly average price information for each coast. With separate calculations for West Coast and East Coast services – an approach favored by many shippers in discussions with WTSA – Conrad said it is inevitable that many customers will see differences in their surcharges under the new formula versus the old one. “The carriers’ focus was to make the formula as simple and transparent as possible, and to reflect as accurately as possible the fuel costs passed through depending on routing,” he explained. “We believe that, under the new formula, those objectives have been met.”WTSA is in the process of preparing a fact sheet that it will post on its web site shortly, detailing the new bunker surcharge formula, with a matrix that translates current average fuel prices to per container surcharge levels.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53980/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53980/</guid> 
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        <title><![CDATA[ Lindø puts Loksa Shipyard up for sale]]></title>
        <pubDate>01.09</pubDate>
        <description><![CDATA[ Loksa Shipyard Ltd. became part of the Odense Steel Shipyard Group in 1994 and is now one of the world’s leading manufacturers of hatch covers. In addition, Loksa Shipyard produces steel structures and components.The ownership of Loksa Shipyard Ltd. will not be necessary for the expected future production at Lindø and a sale will give Lindø the opportunity to focus fully on shipbuilding and enhancing productivity.“It is no secret that we are in a difficult situation. Therefore, we continue to work hard on strengthening the Yard’s productivity and competitiveness. Selling Loksa Shipyard will give us the opportunity to concentrate on shipbuilding at Lindø and develop our subsidiary shipyard Baltija Shipbuilding Yard in Lithuania that builds superstructures and steel blocks for Lindø,” says Finn Buus Nielsen, Managing Director, Odense Steel Shipyard Ltd. A/S. A sale of Loksa Shipyard Ltd. will not have any consequences for the building programme at Lindø, neither for existing nor future orders. Danske Markets acts as Lindø’s financial advisor in the sales process. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53908/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53908/</guid> 
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        <title><![CDATA[ M/V Aniara named at ceremony ]]></title>
        <pubDate>01.09</pubDate>
        <description><![CDATA[ The world's largest and most environmentally adapted car and truck carrying ship, M/V Aniara was named in Bremerhaven, Germany. The Lady Sponsor is Mrs. Josiane Marie-Noëlle Liebherr, wife of Dr. Willi Liebherr, CEO and president of Liebherr GmbH, a leading international supplier of cranes, excavators, and mining equipment, and a key customer for Wallenius Wilhelmsen Logistics.Built at the Daewoo Shipbuilding and Marine Engineering yard in Korea, the 71,673 grt M/V Aniara is the 4th Large Car and Truck Carrier ship in a series of 11 LCTC vessels to be built for owner Wallenius Lines for worldwide service in Wallenius Wilhelmsen Logistics' 60-strong fleet.M/V Aniara is able to carry up to 8,000 cars or a combination of 3,486 cars and 466 trucks/buses. Key customer benefits of the new vessel are reinforced and moveable vehicle decks and an extra wide (9.5 metres) and strong 320 tonne capacity stern ramp. Maximum deck height is also raised to 6.5 meters. Thesefeatures make M/V Aniara one of the most versatile and flexible RoRo vessels afloat.Investment for improved serviceThe new ship will replace an older and smaller vessel in the WWL Round the World service, offering great dependability of service with increased capacity for high and heavy RoRo cargoes such as agricultural, mining and construction machinery and non-containerised and static cargoes such as power generation andmining equipment.Arild B Iversen, President and CEO of Wallenius Wilhelmsen Logistics, said: "The introduction of M/V Aniara demonstrates our commitment to addressing a global demand for RoRo tonnage and gives our customers added flexibility in the types of cargoes they ship with us, while reducing our impact on the environment.""Our newbuilding programme represents a considerable investment in new ships that will help us deliver more versatile factory to dealer logistics service for our customers."State of the art environmental technologyCare for the environment is also a key feature of this new LCTC vessel. The M/V Aniara is a state of the art vessel, utilizing world class environmental design elements. This will reduce CO2 emissions by 15 % per transported unit, as well as reducing emissions of SOx and Particulate Matters. She also has a very lowNOx emission engine that is able to use bunkers with as low as 1% of sulphur content - one of the lowest in the industry. This dramatically improves her performance, reducing NOx emissions 35 % below current internationalregulations.In addition, the new vessel has a number of built-in measures that will help Wallenius Wilhelmsen Logistics meet its ambitious environmental targets for 2008 and beyond. They include a state-of-the-art ballast water treatment system, called PureBallast, the use of tin-free anti-foulant bottom paints; using CFCand HCFC free cooling agents in refrigeration plants; using biodegradable oil in all hydraulic systems; electronically controlled cylinder oil lubricators that reduce the use of cylinder oil to a minimum and using an effective Marinfloc Bilge Water Flocculant Plant system which exceeds current international regulations. M/V Aniara has been awarded a Green Passport.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53898/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53898/</guid> 
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        <title><![CDATA[ Kiel Canal bridges thwart passage of tall Baltic ships]]></title>
        <pubDate>01.09</pubDate>
        <description><![CDATA[ Physical limitations of the Kiel Canal are again coming under the spotlight, following the recent deployment of French shipping group CMA CGM's 1,730-TEU ship on a new Baltic feeder loop, according to the Shipping Gazette.&nbsp;The CMA CGM Volga, one of three Polish-built ice strengthened ships, first built for Fesco, is too tall to fit under the Canal's 10 bridges - this despite the German transport ministry's May announcement to spend EUR280 million (US$411.34 million) fixing the problem. The extension will increase the maximum vessel size in the canal to 280 metres in length and 33 metres in beam, opposed to the current 235 metres by 32.5 metres. But a report by AXS-Alphaliner News noted that the new maximum is a "theoretical figure" since, it claims, almost all ships of such dimensions will exceed the of 40 metre air draft limit imposed by the bridges. It said fully laden ships draw deeper than the canal's 9.5 metres; also permissible draft decreases as vessel beams widen. Few feeder vessels going to or from the Baltic use the canal and go around Denmark on the more costly Belts (Skaw). One of the largest containerships to transit the canal fully loaded is the Katharina, an unusual twin-engined one-off design of 1,712 TEU with low draft, and thus a low deadweight. The other big containership to transit the Kiel Canal is Wappen Reederei's 1,600-TEU, open-top Meyerwerft-built with a comparatively low draft. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53892/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53892/</guid> 
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        <title><![CDATA[ Список кандидатов может пополниться]]></title>
        <pubDate>29.08</pubDate>
                <link>http://www.transportweekly.com/pages/en/news/articles/53883/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53883/</guid> 
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        <title><![CDATA[ AET orders three product tankers in Russia]]></title>
        <pubDate>29.08</pubDate>
        <description><![CDATA[ Tanker owner-operator AET has ordered three 6,600DWT oil/chemical tankers from Russia’s Okskaya Shipyard using BIMCO’s NEWBUILDCON standard newbuilding contract. The contract for the new tankers was signed on 28 August, with the vessels due for delivery between July and December 2009.&nbsp;The order for the new tankers is aimed at expanding AET’s fleet capacity and extending the geographical coverage of its operations. Long-term employment for the vessels has already been secured.&nbsp;Commenting on the decision to use NEWBUILDCON in this latest order, Zurina Raja Abu Bakar, AET’s Legal Counsel responsible for orchestrating the deal, said:&nbsp;“NEWBUILDCON provides a solid contractual platform that facilitates the placement of newbuilding contracts for both shipowners and yards. It represents an excellent standard form suitable for global use.&nbsp;“In line with AET’s commitment to innovation, we are proud to join the very select group of pioneering owners to have used NEWBUILDCON to date. We are also grateful to Okskaya Shipyard for their willingness to embark on this journey with us, setting a precedent for other yards to follow.&nbsp;“Our first experience with the standard contract form has been a positive one, leaving us in no doubt that we will adopt it in future orders. It is our hope that other owners will follow our lead and establish NEWBUILDCON as the accepted international standard for new vessel orders.”&nbsp;]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53877/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53877/</guid> 
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        <title><![CDATA[ NYK Line upgrades IndAmEx service ]]></title>
        <pubDate>29.08</pubDate>
        <description><![CDATA[ NYK Line has announced the deployment of its own vessel in the Indian Subcontinent East Coast Express (IEX) service, also known as IndAmEx service, from this month.The first vessel sailed from Jawaharlal Nehru Port (JNP) earlier this week.Since July 2007, NYK has participated in this service through a slot-charter arrangement with Hapag-Lloyd. The addition of the NYK vessel will allow the company to better meet the customers’ strong demand for space in the fast-growing market, Exim News Service reported citing a NYK release.The upgraded service will offer a fixed-day, weekly schedule using seven vessels of 4,000-TEU, one of which will be provided by NYK.The port rotation is as follows: Port Muhammad Bin Qasim (Thu/Fri), JNP (Sun/Mon), Mundra (Tue/Wed), Damietta (Tue/Wed), New York (Sat/Mon), Norfolk (Tue/Wed), Charleston (Thu/Fri), Port Said (Wed/Thu), Jeddah (Sat/Sat), Port Muhammad Bin Qasim.NYK Line will continue its endeavour to infuse all its services with the highest quality possible, the release emphasises.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53854/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53854/</guid> 
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        <title><![CDATA[ The Grand Alliance enhances Mediterranean Service ]]></title>
        <pubDate>28.08</pubDate>
        <description><![CDATA[ Grand Alliance (GA) is enhancing its service between Mediterranean and Asia (EUM) to proactively cater for our customers needs. Valencia will be added as a port of call in the current EUM service, and the enhanced service will begin in the second full week of August 2008 (Week 33). Port rotation for the enhanced Mediterranean service is: Busan, Shanghai, Ningbo, Shekou, Hong Kong, Singapore, Port Klang, Jeddah, Damietta, Genoa, Fos, Barcelona, Valencia, Damietta, Singapore, Hong Kong, Busan. Eight vessels with the capacity of approximately 6,000TEU will be deployed on the service. The Grand Alliance, formed in 1998, is the leading integrated consortium in global container shipping. Its members include Hapag-Lloyd (Germany), MISC Berhad (Malaysia), NYK (Japan), and OOCL (Hong Kong). &nbsp;]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53851/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53851/</guid> 
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        <title><![CDATA[ STX considers bid for Daewoo]]></title>
        <pubDate>28.08</pubDate>
        <description><![CDATA[ STX may join candidates in bidding for Daewoo Shipbuilding and Marine Engineering, reports said. Hyundai Heavy Industries has expressed its intention to participate in the bid, with plans to submit a letter of intent regarding the takeover of Daewoo Shipbuilding and Marine Engineering by the August 27 deadline, Bloomberg reported.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53847/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53847/</guid> 
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        <title><![CDATA[ Navibulgar to sell old ships]]></title>
        <pubDate>28.08</pubDate>
        <description><![CDATA[ Former state shipping firm Navibulgar, which was put in private hands earlier in August, plans to sack 400 of its employees and sell some of its older ships as part of the re-organisation that will begin in November 2008, company officials told a news conference in Varna on August 27.The chairperson of the company’s board of directors Kiril Domouschiev, as quoted by Varna-based daily Narodno Delo, said that the payroll cuts, which will make around 10 per cent of its staff redundant, would be mainly in the administration of the company and non-core activities, but would not include any sailors.Navibulgar had too many side activities, including auto transport, transport repairs and agents’ activities, which shifted the focus from its main activity, Domouschiev said, as quoted by Focus news agency.International consultants were hired to draft a list of restructuring measures, which the company would implement in November-December, aimed at boosting competitiveness and raising profit margins, Domouschiev said.Navibulgar would sell 20-25 of the 71 vessels it owns, which were all built more than 30 years ago, Varna-based news website moreto.net quoted Domouschiev as saying. To replace them, the company would order 19 or 20 ships, ranging from 21 000 to 34 000 tons, over the next five to six years, he added.On August 8 2008, German-led consortium KG Maritime Shipping and Bulgaria's Privatisation Agency signed the deal for the sale of 70 per cent of Navibulgar. The Government decided to sell 7.6 million of Navibulgare shares for a total of 440.1 million leva. The state will own the remaining 30 per cent of the company's shares for the next several years, according to the Government's privatisation strategy, SofiaEcho reported.]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53831/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53831/</guid> 
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        <title><![CDATA[ “K” Line launches new feeder service ]]></title>
        <pubDate>28.08</pubDate>
        <description><![CDATA[ Kawasaki Kisen Kaisha, Ltd. (“K” Line) will launch new feeder service between East Coast of the United States and Amazon region in Brazil from October 2008. The service will be jointly operated with their partner Bringer Lines (located in Miami, Florida, USA) by deployment of 2 x 500TEU type vessels on bi-weekly basis.This new feeder service will have growing import market of Amazon in Brazil connected with “K” Line’s quality global network, particularly from Asia through “K” Line’s Asia/East Coast of United States services.&nbsp; The first sailing and calling ports of the new service will be as follows:-&nbsp;M/V "BAGHIRA"&nbsp; ETA Savannah 17th October-&nbsp;Savannah (Fri-Sat) / Port Everglades (Sun-Sun) / Manaus (Thu-Sat) / Vila do Conde (Tue-Wed) / Savannah (Fri-)]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53828/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53828/</guid> 
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        <title><![CDATA[ Maersk offer to the shareholders in Broström AB]]></title>
        <pubDate>27.08</pubDate>
        <description><![CDATA[ The combination of the two companies will form the world’s leading product tanker company with a combined owned and long term chartered fleet of more than 130 vessels. The cash offer values the share capital of Broström at SEK 3.62 billion. The demand for energy transportation is expected to continue to grow which together with the International Maritime Organisation’s (IMO) phase out regulation of single hull tanker vessels by 2010, underlines the positive business environment for the tanker market. It is in this light that A.P. Moller - Maersk has previously stated its intention to invest in Maersk Tankers as one of the growth areas within the Group. “The scale of the combined operation will enable us to offer a superior world wide service through a large, modern and homogeneous fleet. We need scale to ensure our organisation is cost effective and for customers to have easy access to chartering offices globally. Combining Maersk Tankers and Broström’s scale with skilled and dedicated employees will further enhance our competitive position and create the world’s leading product tanker company”, says Søren Skou, CEO of Maersk Tankers and member of the A.P. Moller - Maersk Group Executive Board. The holders of all shares of class A in Broström, together holding shares of class A and B representing 29.3% of the capital and 55.9% of the votes (based on 63,543,184 class A and B shares outstanding, i.e. excluding 2,254,000 treasury shares), have irrevocably undertaken to accept the Offer. The Offer is formally made through Maersk Product Tankers AB, a wholly owned subsidiary of A.P. Møller - Mærsk A/S. “From a business point of view there is a good match between our two companies”, says Lennart Simonsson, CEO of Broström. “In our evaluation of various partners to team up with in the consolidation process it is our view that Maersk Tankers is one of the best partners. Both companies have a long and strong heritage in the tanker market and our combined resources give us a platform to further develop from”. Following the completion of the Offer, it will be evaluated how all partnerships and commercial agreements can be integrated into the future structure of the business. “It will be business as usual until we have full control and have received approval from relevant competition authorities”, says Søren Skou. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53789/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53789/</guid> 
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        <title><![CDATA[ Box volumes up 14pc]]></title>
        <pubDate>27.08</pubDate>
        <description><![CDATA[ During the four weeks ending July 25 the Singapore-based parent Neptune Orient Lines (NOL) reported throughput of 209,800 FEU in the same period last year, a 14 per cent jump. An improvement of revenue per FEU showed a nine per cent increase of US$3,074 from $2,821 which the company attributed to bunker surcharges on major trade lanes and greater intra-Asia movement and transpacific backhaul, reported the American Shipper. So far this year the company is reporting 13 per cent more volume to 1.48 million FEU, averaging $2,986 revenue per box, a 14 per cent increase. ]]></description>        <link>http://www.transportweekly.com/pages/en/news/articles/53788/</link>        <guid isPermaLink="true">http://www.transportweekly.com/pages/en/news/articles/53788/</guid> 
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