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?.

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.

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

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.

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.

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Nano car factory cases dismissed
An Indian court dismisses claims that land was acquired illegally for making the world’s cheapest car, the Nano.

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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?.

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.

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

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.

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.

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ITV plc shares hit all-time low
ITV’s share price fell to an all-time low after it emerged the company wants BSkyB to sell its 17.9% stake. By <strong> Chris Tryhorn</strong> and <strong>Katie Allen</strong>.

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FREEFALLING charter rates appear to have taken some of the biggest names in shipping by surprise, with the George Economou-controlled Classic Maritime now paying up to three times the market rate on some of its recent period charters.

BRAZIL?s Vale plans to meet with Chinese steel mills next week to follow up on its demands for a second price increase this fiscal year.

CLEAN

AS THE northern hemisphere gets ready for its winter upsurge in demand for clean products, long range tanker owners have entered the fourth quarter with strong spot rates, writes Jerry Frank.

ORE

RISING demand for repair work in the Gulf of Mexico to fix damage caused by hurricanes Ike and Gustav will tighten the global market for subsea construction and inspection vessels for the next six months, writes Martyn Wingrove.

Crunch to hit dry bulk fleet

CHARTERERS emerged from the woodwork yesterday to profit from the latest drop in dry bulk freight rates; but brokers gained some confidence from a couple of confirmed period fixtures, writes Jamie Dale.

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Oil falls on US slowdown worries
Oil prices continue to slide amid fears that a US recession will weaken global demand for crude.

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AXSMARINE CAPESIZE IRON ORE INDEX 25 Jan 2008
Rate calculations based on a 172,000 dwt capesize built 1999/daily hire $62,852.Daily Hire provided by: Arrow Chartering, Barry Rogliano Salles, Fearnleys, Socomet Chartering and Sobelnord.

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BALTIC DRY BULK INDICES 22 Jan 2008
For more information on routes or calculations please visit www.balticexchange.com

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BALTIC TANKER INDICES ? 28 Jan 2008
For more information on routes or calculations, visit www.balticexchange.com

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Barrot sets date for ending SNCM investigation
THE European Commission will decide the fate of French Mediterranean ferry operator SNCM within the next two months, EU transport commissioner Jacques Barrot said, writes Justin Stares in Brussels.

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