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Saturday, May 17th, 2008

Late breaking news

Gard to shell out surprise $9m bonus

SHIPOWNERS who have tonnage entered mutually in Gard P&I Club, one of the world?s top two such organisations, are to receive a total $9m ?give back?.

Security fears delay Hindustan Shipyard?s revamp again

THE financial restructuring of government-owned Hindustan Shipyard has been delayed further and referred to a group of ministers after suggestions that its expansion plans could cause national security concerns.

Charter rate surge helps Jinhui to double profits

JINHUI Shipping and Transportation, the Oslo-listed Hong Kong bulker operator, saw net profit surge 109% to $12.8m in the first quarter buoyed by soaring charter rates. Turnover climbed 49% to $54.3m.

DryShips celebrates best quarterly result to date

DRYSHIPS chief George Economou has hailed an ?exceptionally strong? first quarter for the Nasdaq-listed dry bulk company, writes Nigel Lowry in Athens.

Piraeus port raises income

IMPROVED results for the first quarter of 2007 have been unveiled by the Piraeus Port Authority, the corporation in charge of Greece?s largest port.

Langley to take new Lloyd?s role

SUE Langley, one of the most high profile personalities in the London market, is to join Lloyd?s to raise operational competitiveness and ensure a focus on North American business, which supplies 40% of revenue at Lloyd?s, writes James Brewer.

Russian tax breaks set up storage rush

DEMAND for tankers to act as floating storage units in the Black and Baltic seas is bound to pick up after the Russian government introduced tax breaks.

Business Briefing

NAMES at Lloyd?s are continuing to reap better rewards from the market than the dominant corporates, according to an analysis commissioned from ratings agency Moody?s by the Associa- tion of Lloyd?s Members.

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Friday, May 16th, 2008

Late breaking news

Oil pushes ever higher

Price of litre of petrol tops 1 for first time in UK as oil surges on a North Sea storm. By Graeme Wearden.

Dollar hits 26-year low against pound

The pound climbed to $2.10 for the first time since 1981 today, boosted by speculation that China was preparing to shift its foreign reserves out of dollars. By Graeme Wearden.

US gloom weighs on FTSE

Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.

Virgin Media hails growth ‘turnaround’

Virgin Media signals that era of upheaval marked by public rows with BSkyB is behind it as the cable TV company posts strongest customer growth in more than a year. By Katie Allen and Chris Tryhorn.

National Starch takeover to cost thousands of jobs

Henkel, the maker of Schwarzkopf hair products, plans to cut thousands of jobs when it completes its 2.7bn acquisition of ICI’s National Starch adhesives business early next year. By David Gow.

FirstGroup thanks oil price for rise in bus revenue

British bus and rail operator says soaring oil price forcing motorists out of their cars and on to public transport. By Dan Milmo.

Next sales ‘highly volatile’

Outlook at fashion chain Next ‘uncertain’ in run-up to Christmas, company warns. By Julia Finch.

Virgin Media upbeat after growth in customers

Cable group Virgin Media added 13,000 new customers in the third quarter of the year. By Chris Tryhorn.

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Friday, May 16th, 2008

Late breaking news

Shipping must shape up to meet fuel rules

THE shipping industry cannot afford to be complacent and must become more fuel efficient and reduce emissions to meet tougher regulations.

Diana Shipping tips ongoing rates boom

NEW York-listed Diana Shipping has forecast rampant demand for coal and iron ore and China?s rapidly-growing coastal trade will keep bulk carrier rates near their record highs in 2008.

Argentina trade paralysis threat

GRAIN and oilseed shipments from Argentina?s River Plate face further paralysis, writes Michelle Wiese Bockmann.

Supramax shortage keeps Atlantic prices at record high

CHARTERERS took a welcome breather in the Atlantic supramax market yesterday while they waited for the arrival next week of fresh tonnage, writes Jamie Dale.

Market briefs

Two loops on Far East route

Tanker Fixtures

CLEAN

Positive signs once again for transatlantic tanker market

THE April and May rate surge for product tanker owners serving the US looks back on track, following a slight falter last week, writes Jerry Frank.

Dry Cargo Fixtures

ORE

ICAP HANDYMAX INDEX? 6,394 (+70) 15 May 2008

THE April and May rate surge for product tanker owners serving the US looks back on track, following a slight falter last week, writes Jerry Frank.

ICAP HYDE SUPRAMAX INDEX 10,227 (+88) 15 May 2008

Index basis: 50-52,000 dwt bulk carrier, maximum 10 years old, 25t cranes with grabs, 14k on 30t ifo no diesel at sea

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Friday, May 16th, 2008

Solid spot market fuels rise in demand

Solid spot market fuels rise in demand
A SOLID increase in clean tanker spot fixing in 2007 is expected to be followed by a further rise in demand this year, according to a leading shipbroker, writes Tony Gray.

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Wednesday, May 14th, 2008

Late breaking news

MOL cements top slot in dry bulk league

MITSUI OSK Lines unveiled an updated iron ore carriers newbuilding programme on Monday that will further enforce its global leadership in the sector.

Taranto trio arrested in Italian dredging probe

THE long-running controversy over dredging regulation at Italy?s ports took a dramatic turn yesterday with the arrest of two leading figures at the port of Taranto in connection with an investigation into the alleged illegal disposal of dredged spoils.

Bullish NOL strides ahead

NEPTUNE Orient Lines shrugged off a contraction in container volumes into the US west coast, and soaring fuel costs, with a 183% surge in first quarter profits.

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Wednesday, May 14th, 2008

FirstGroup thanks oil price for rise in bus revenue

FirstGroup thanks oil price for rise in bus revenue
British bus and rail operator says soaring oil price forcing motorists out of their cars and on to public transport. By Dan Milmo.

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Tuesday, May 13th, 2008

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Tuesday, May 13th, 2008

Late breaking news

?Breathtaking? dry bulk rate climb on the cards

FREIGHT rates could be set for a further ?breathtaking? climb towards the end of this year, as increased iron ore cargoes exceed the number of capesize vessels available for hire.

Derivatives rise on tanker rates jump

THE unseasonal and ?astonishing? surge in tanker earnings has strongly boosted derivatives trading, as the values of near-term and deferred contracts continue to rise rapidly.

Panic over as Atlantic panamaxes settle down

THE Atlantic panamax market has started to cool off after last week?s record high levels, as ?panicking? charterers take a step back to calmly assess the market, writes Jamie Dale.

Bulker delivery to surge as 447 ships join the trade

DRY bulk supply this year has seen a ?gentle? start, with just 89 vessels, or 5.6m dwt, delivered in the first quarter, while scrapping remained in ?virtual suspension?, writes Jamie Dale.

Market Briefs

Bunker levels hold up

Aframaxes continue to seesaw due to strike fears

OWNERS of aframaxes operating in the Mediterranean can expect a third week of choppy movements in charter rates amid continued uncertainty over further industrial action by French port workers, writes Paul Tugwell.

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Monday, May 12th, 2008

The beauty of this is that while all of this ordering is

going on, and these important customer service
emails are being sent, you can be off doing
something else! The more automation you can
integrate into your online business, the better off
you will be
The beauty of this is that while all of this ordering is
going on, and these important customer service
emails are being sent, you can be off doing
something else! The more automation you can
integrate into your online business, the better off
you will be.

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Monday, May 12th, 2008

Use both side of the card - if you have a photo, benefit

statements and all your business details then you ” ll need
both sides of the card
Use both side of the card - if you have a photo, benefit
statements and all your business details then you ” ll need
both sides of the card. Business details can go on one side
and benefit statements on the other

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