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DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056 PSi-Daily Shipping News Page 1 4/2/2006 Number 056*** COLLECTION OF MARITIME PRESS CLIPPINGS ***Monday 03-04-2006 News reports received from readers and Internet News articles taken from various news sites. THIS NEWSLETTER IS BROUGHT TO YOU BY : VLIERODAM WIRE ROPES Ltd. wire ropes, chains, hooks, shackles, webbing slings, lifting beams, crane blocks, turnbuckles etc. Binnenbaan 36 3161VB RHOON The Netherlands Telephone: (+31)105018000 (+31) 105015440 (a.o.h.) Fax : (+31)105013843 Internet & E-mail www.vlierodam.nl [email protected] The Hoek van Holland lifeboat Jeanine Parqui visited the port of Harwich April 1 st Photo : David Berg ©

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DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056

PSi-Daily Shipping News Page 1 4/2/2006

Number 056*** COLLECTION OF MARITIME PRESS CLIPPINGS ***Monday 03-04-2006 News reports received from readers and Internet News articles taken from various news sites.

THIS NEWSLETTER IS BROUGHT TO YOU BY :

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lifting beams, crane blocks, turnbuckles etc. Binnenbaan 36 3161VB RHOON The Netherlands

Telephone: (+31)105018000 (+31) 105015440 (a.o.h.)

Fax : (+31)105013843 Internet & E-mail www.vlierodam.nl

[email protected]

The Hoek van Holland lifeboat Jeanine Parqui visited the port of Harwich April 1st Photo : David Berg ©

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056

PSi-Daily Shipping News Page 2 4/2/2006

SMITWIJS TOWAGE B.V.

Westplein 5b 3016 BM Rotterdam

The Netherlands Telephone: +31 10 412 6969

Telefax:+31 10 436 9587 E-mail: [email protected]

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EVENTS, INCIDENTS & OPERATIONS

The LITSA seen working on the “THE WORLD” project in the offshore Dubai (Persian Gulf)

Capsized cruise boat overloaded, officials say The cruise boat that sank hundreds of yards off the coast of Bahrain, was crowded with partygoers and made a sudden left turn before capsizing in the calm Gulf waters, officials said. At least 57 people drowned. The boat, an Arab dhow with high sides, was overloaded when it left port and capsized when most of its 126 passengers moved to one side. Sixty-seven people were rescued and two remained missing.

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Cruise captain held after deaths The Bahraini authorities have arrested the captain of a boat that capsized in the Gulf on Thursday, killing at least 57

people. Officials said the latest count showed that only two of the 126 passengers on board were still missing. Bahrain television showed pictures of rescue workers using pickaxes to try to break through the bottom of the upturned vessel, which was still floating off the coast of Bahrain. Nawaf Hamza, a Bahraini prosecutor, said: "The captain was only a sailor and not

qualified to operate the ship. The prosecutor's office has detained him and his assistant. "Initially charges against him are linked to his responsibility [for the accident]." Hamza said the ship was heavily overloaded with passengers when it set off on a corporate dinner cruise in the Gulf. Rescuers pulled 67 survivors from the water, helped by the US Navy's 5th Fleet, which is based in Bahrain. The boat's owner, quoted earlier by Al Arabiya television, said the top-heavy vessel capsized when passengers gathered on one side. Witness Aqeel Mirza said he was about 100 metres away on another vessel when he saw the boat capsize. "The sea was calm, there were no heavy winds or waves," he told Arabiya. "Suddenly, in that instant that we were watching it, the boat overturned very quickly. It just overturned on one side in seconds, and two seconds later the lights went out and then we started hearing the screaming." Mirza said it took more than 25 minutes for rescue boats to arrive at the scene. "Most of who died were inside the enclosed restaurant," he said. "Those who were on the top deck found it easier to survive because they jumped off the boat and waited for rescue." The boat trip was for employees of companies involved in a construction project in Bahrain and their families.

Somali pirates hijack oil tanker Somali pirates seized an oil tanker soon after it had offloaded its cargo of fuel at a southern Somalia port, an official and witness said on Friday. The pirates so far have made no demands since hijacking the United Arab Emirates-registered MT Lombigo on Tuesday near Adale, about 150km north of the capital, Mogadishu, said Ali Beere Adow, an official of El Ade port. The MT Lombigo, which carries a Panamanian flag and had a crew of 32 Filipinos, had offloaded its cargo at El Ade port, Adow said. "About 20 armed pirates on two speedboats attacked the tanker and then scaled it. After 10 minutes I could see the tanker commandeered to the high seas," said Jimale Kaahin, a fisherman who said he witnessed the hijacking. He spoke to The Associated Press on a two-way radio, a common means of communication in Somalia. Somalia has had no coast guard or navy since 1991, when warlords ousted the dictator and then turned on each other.

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Piracy on Somali waters steeply increased last year, with the number of incidents rising to 35, compared with only two in 2004, according to the International Maritime Bureau. The increase in piracy included first-time attacks on vessels carrying food aid for Somalis, hindering United Nations efforts to provide relief to drought victims. Pirates also have attacked a cruise ship. On March 15, the UN Security Council encouraged naval forces operating off Somalia to take action against suspected piracy. In the past two months, US naval ships have confronted two groups of pirates, killing one person and injuring five others. One group of pirates the US navy confronted is now facing trial in neighbouring Kenya

MSC ahead of the game Mediterranean Shipping Co (MSC) is poised to win the race to fix the only pair of panamax containerships to become available for hire in the first half of this year with a juicy charter deal and purchase offer. MSC is said to be offering $26,500 per day to charter the 4,170-teu sisters Northern Decency and Northern Delicacy (both built 2003) for eight years including a purchase option. The ships end three year hires to K Line at $23,100 per day soon after May and although the Japanese carrier was said to be interested in extending the charters, MSC has emerged as the frontrunner for the pair. MSC boss Gianluigi Aponte has a reputation of sniffing out low points in the market and doing most of his fixing when rates are unlikely to go lower. This means the strength of the deal for the Northern Decency and Northern Delicacy , alongside other chartering activity by the carrier, is exciting many brokers. However, some sources dispute the rate, saying it will be lower, depending on the purchase option. But others point out that MSC may have to accept paying higher levels than it would normally because of the lack of large boxships available. MSC very often links purchase options to long-term charters, thereby sweetening the rates. However, it is unlikely that a sale could happen before at least three years and possibly not before the end of the charter because of the terms offered to shareholders who invested in the vessels, which cost $43m to build. Market sources say the ships are not the most modern panamax types, with relatively low 23-knot speeds and intake of loaded containers but they have an attractively high level of 600 reefer slots. But no other panamax containerships are definitely expected to end charters with their current users this year. However, brokers indicate that there are still some vessels for which it is expected but not known whether extensions will be taken up. Three ships mentioned as possible candidates are the 4,000-teu sisterships Mare Phoenicium and Mare Lycium (both built 1999), which are currently on charter to CSAV and Maersk Line, respectively, until the summer, and the 3,900-teu Buxstar (built 1997), which ends a fixture to CMA CGM towards the end of the year. Maersk Line is also said to be looking at subletting one or two panamax ships for which it may have no immediate use but that it may want to deploy next year. The 4,600-teu newbuilding Viktoria Wulff , due out of the Gdynia shipyard in Poland between September and November, may fall into this category. Confirmation of its eight-year charter at $28,000 per day with Maersk Line was postponed by shipyard delays until this February. The vessel was originally fixed by Royal P&O Nedlloyd in 2004 before the Anglo-Dutch line was acquired by the Danish group.

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PSi-Daily Shipping News Page 5 4/2/2006

The URS AHT BANCKERT seen enroute the port of Antwerp – Photo : Niels Heijboer ©

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IAF to complement Indian Navy in exercise with French force

For the first time, Indian Air Force (IAF) would complement the Navy in its exercises during the ongoing Indo-French joint naval exercise off Goa coast. "IAF will mount a strike against our forces in the sea which will be like any other enemy strike from land which will give experience of defending ourselves during the exercises," Rear Admiral Anup Singh, Flag Officer Commanding Western Fleet told mediapersons on board INS Viraat.

Both the navies would mix together and make two different forces during the exercises -- eighth in the Varuna series -- which began on March 27 and culminate on April 7. "This is also for the first time that aircraft carriers of both the navies -- INS Viraat (Indian Navy) and nuclear powered carrier Charles De Gaulle (French Navy) -- are participating in such exercises," Singh informed.

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Last year, during Indo-French naval exercises off-Djibouti coast, Indian Army's contingent was taken along with the Indian Navy, Singh said. The ongoing exercises has Indian side represented by aircraft carrier INS Viraat with her wings sea harrier fighters, Sea King and Chetak helicopters, the guided missile destroyer INS Mumbai, the guided missile frigates INS Gomati and INS Betwa, the fleet replenishment tanker INS Aditya and stealth SSK submarine INS Shankul with maritime aircraft Dornier and TU 14 operating from ashore, officials informed.

US Navy calls off rescue operation US Navy support to Bahrain's rescue efforts ended at about 4am yesterday, after local authorities informed the US Fifth Fleet that its help was no longer required. US Naval Central Command and US Fifth Fleet public relations officer Commander Jeff Breslau told the GDN that naval divers, boats - including the 110-ft US Coastguard ship Wrangell, and two helicopters, responded at approximately 10.15pm on Thursday, after learning that a vessel capsized about 2km east of the command's headquarters in Juffair. The US Navy and Coastguard vessels got underway from Mina Salman to support Bahrain's rescue efforts. A US Navy helicopter was also sent out to assist in the efforts, while a second helicopter stood by. In addition, 16 Navy divers were also there ready to assist, said Commander Breslau. All US assets involved are forward deployed to the US Fifth Fleet to support maritime security operations and will assist the Bahraini authorities as necessary, he said.

Navy will turn over Wisconsin sooner than expected Navy officials will hand the battleship Wisconsin over to the city sooner than expected, according to federal documents. The Navy received authorization to donate the vessel in December, but officials weren't expected to get word about the gift until later this year. But according to a notice in The Federal Register, city officials will now have to submit a letter of intent by May 27 as well as a completed business plan for operating the vessel by Sept. 30. It could be a tight squeeze, said Richard Conti, executive director of Nauticus. The Wisconsin is berthed next to that vessel. The National Maritime Center Board oversees both ships. "Can we meet their deadline? I don't know," he said. "I believe it's possible. But it's going to take a lot of work." About 500,000 visitors a year have come to the Wisconsin since its deck opened to the public in April 2001. Under city control, compartments below the deck would be open at a cost of up to $10 million by some estimates. Officials also would add an admission charge.

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DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056

PSi-Daily Shipping News Page 7 4/2/2006

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SembCorp in Solitaire payout Singapore’s SembCorp Industries has agreed to pay Swiss group Allseas EUR350m ($425m) to settle the decade-long dispute over the Solitaire conversion. “The settlement agreement provides for a full and final settlement and release by each party of the other of all claims, counterclaims and liabilities,” SembCorp said. The Singapore state-controlled conglomerate said it would pay the sum within 14 days after the agreement reached in arbitration in London. SembCorp added that it will take an exceptional charge of SGD65m ($40m) in the first quarter of 2006 arising from the settlement. The massive dispute arose from a 1993 contract for the conversion of a 127,432-dwt bulk carrier Solitaire (built 1972) into the world’s largest pipe-laying vessel. Delays and alleged defects in converting the ship led to the contract being terminated in 1995 when the ship was only 60% complete, with a whole series of arbitrations and legal battles ensuing.

Werf Barkmeijer zit ruim in orders Scheepswerf Barkmeijer in Stroobos heeft nog tot eind 2008 werk. Er liggen orders voor zeven vrachtschepen op de plank. Op 15 maart ging voor de Ierse rederij Arklow, een vaste klant van Barkmeijer, een 4500 tons kustvaarder te water. De werf werkt aan een ontwerp voor een nieuw type coaster, iets groter dan de huidige serie.

Torm and Roxana book eight products tankers

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PSi-Daily Shipping News Page 8 4/2/2006

Guangzhou Shipyard International (GSI) has bagged a total of eight products-tanker newbuildings from Torm of Denmark and Roxana Shipping of Greece. Market sources say Torm has contracted six 52,000-dwt ice-class 1A tankers at the Chinese shipbuilder for delivery in 2008 and 2009. The products tankers are said to be costing $46.5m each. News of Torm's plans to place an order for the six newbuildings was first reported in TradeWinds in January. At that time, Torm managing director Klaus Kjaerulff declined to comment on the report. With the confirmation of its six 52,000-dwt ice-class 1A newbuildings, Torm has a total of eight ships on order at GSI. The company's earlier two vessels, which are also scheduled for 2008 delivery, were ordered last July. Meanwhile, a company executive at Roxana confirms that two more 38,500-dwt tankers have been booked at GSI. The ships are slated for delivery in 2008 one early in the year and one toward the end. The executive declines to reveal the price of the new ships or whether they have been booked against employment. Roxana ordered a pair of similar tankers from GSI in September last year at around $40m each. This pair is also due for delivery in 2008 and has already been fixed for six years at a charter rate of between $15,000 per day and $16,000 per day, with a profit-sharing agreement.

ROUTE, PORTS & SERVICES

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PSi-Daily Shipping News Page 9 4/2/2006

The SMIT LLOYD 90 seen in Richards Bay – Photo : Ronny Meyer ©

Hopes high for Sakhalin LNG despite delays Despite delays and mushrooming costs, investors are confident that the Sakhalin II energy project in the Russian Far East will succeed because of a global shift to liquefied natural gas from crude oil. The costs are now estimated at $20 billion (about 2.3 trillion yen), almost double the initial projection, due mainly to surging prices of construction materials and environment protection measures. In February, some 6,000 people from about 20 countries were working on construction of a natural gas liquefaction plant, one of the largest in the world, on a 520-hectare site in Prigorodnoye on the southern coast of Sakhalin island. Natural gas taken from two fields off the northeastern shore of the island will be transported through an 800-kilometer pipeline to Prigorodnoye, where it will be liquefied and shipped to Japan, South Korea and the United States. Shipment will start sometime between November 2007 and summer of 2008. Crude oil production began in 1999. The port of Prigorodnoye is not completely frozen during winter, enabling use of tankers with reinforced hulls. However, the temperature sometimes drops to minus 30 degrees, and ice floes halt work on offshore piers and other facilities. An official of project operator Sakhalin Energy Investment Co. said that because of Sakhalin's harsh environment the project will take 51 months to complete, compared with 36 months for a similar-size plant under normal conditions. More than 60 percent of the project has been completed, according to Sakhalin Energy. Completion rates for the LNG plant and the pipeline are 66 percent and 53 percent, respectively. In an environmental protection effort, a major cause of delays, Sakhalin Energy decided to reroute the pipeline to bypass the habitat of endangered western gray whales. Environmentalists are also watching the project for possible impact on Steller's sea eagles and other creatures. Winter's cold isn't the only weather obstacle. The pipeline sometimes runs under riverbeds, but installation has to be suspended between May and November to protect salmon and trout, which go upstream for spawning.

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A source close to the project said the operator had been too optimistic about the problems with Sakhalin's natural environment. Three shareholders in Sakhalin Energy--Royal Dutch/Shell Group, Mitsui & Co. and Mitsubishi Corp.--will be hit with huge cost overruns. Shell, which holds the largest 55-percent stake, plans to transfer some of the shares to Russian natural gas supplier Gazprom by swapping them for part of the latter's share in a gas field in western Siberia. The two Japanese trading houses expect participation by the Russian state-owned company to accelerate the project, although they will also have to relinquish part of their stakes. There have been suggestions in Russia of an alliance with the Sakhalin I gas and oil project led by Exxon Mobil Corp. of the United States, Itochu Corp., Marubeni Corp., Japan Petroleum Exploration Co. and others. Under the project, natural gas will be delivered to Japan and China through undersea pipelines. However, the project has stalled because of compensation to the fishery industry and other problems. If the alliance is formed, natural gas from the Sakhalin I project will be liquefied at the Sakhalin II plant for delivery by tankers. However, many observers say the possibility is remote. "As two majors, pride will not allow Exxon and Shell to tie up," a source said. Despite adversities, Sakhalin Energy is considering expansion. The plant under construction in Prigorodnoye, which consists of two production units, will have an annual capacity of 9.6 million tons of LNG. Retrofitting is expected to increase the capacity by more than 20 percent. Sakhalin Energy President Ian Craig has a more ambitious vision. He said the company is considering adding another unit in 2013, saying that the required land has been purchased. Behind his confidence is the geographical advantage of Sakhalin. It takes only two to three days by ship from Sakhalin to Japan, compared with about two weeks from the Middle East. A large number of expensive LNG tankers will be needed for delivery from distant producers. A ton of LNG from Sakhalin is expected to be $10 cheaper than that from the Middle East. The island, which has estimated natural gas reserves of about 500 billion cubic meters, might serve as a stable energy supplier to Japan as the North Sea is to Britain. Almost all annual gas output from the Sakhalin II project has found purchasers, including Japanese electric power and gas companies and a South Korean public gas company.

Firm price for Astron vessel Astron Maritime of Greece appears to have won a firm price for the 47,000-dwt bulker Axios (built 1997). Brokers say the vessel has been sold to an undisclosed buyer for $22.5m. However, an Astron executive says no deal has yet been concluded. Comparatively, in February, the two-year younger, 46,000-dwt Denise C and Thomas C (both built 1999) were sold to fellow Greek operator Brave Maritime for $45.5m en bloc.

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Astron bought the Axios as the Flaxen Halo . Before that, the ship was purchased, together with the 45,000-dwt Coral Halo (built 1995), in 1999 by Gleamray Maritime for some $34m en bloc. Gleamray then sold on the Flaxen Halo to Astron for an undisclosed price. At the time, Astron was actively building up its fleet but has since been relatively uninvolved in the sale-and-purchase market. In January 2005, when the market was at its peak, it sold the 38,000-dwt bulker Aliacomon River (built 1994) for $23.5m to a Ukrainian company.

OMI extending two Two OMI Corp products tankers rumoured to be on the sales block over the past few weeks are not only staying within the fleet, but seeing their charters extended by Total for a further two years.

The OMI tanker MAX JACOB seen in Cape Town – Photo : Ian Shiffman ©

Market sources say OMI's 35,700-dwt Charente (built 2001) and 35,000-dwt Isere (built 1999) will be extended to the oil major at a base rate higher than the original, plus profit sharing. The two had been among the smaller OMI units incorrectly identified as sales candidates in market rumours, including one suggestion that had OMI tankers going to new initial public offering company Omega Navigation. TradeWinds reported in today's print issue that OMI is mulling the sale of the 160,000-dwt Somjin (built 2001), which recently has been inspected by unidentified parties, but that no decision has been taken. OMI officials could not immediately be reached today.

Hubline to buy more container vessels Hubline Bhd, which sees a double-digit growth in container cargo volume for the shipping industry this year, plans to acquire two more vessels. Group managing director Dennis Ling Li Kuang said the company was scouting for vessels with a capacity of 1,000 twenty-foot equivalent unit (TEU) each. The Sarawak-based company owns a fleet of 21 container vessels that serve 50 ports in Asia. “There is much demand for small range vessels as the bigger ones with capacity of between 8,000 TEUs and 10,000 TEUs can only serve the big ports,” he said after the company AGM here yesterday.

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Ling said container cargo volume was still growing at a healthy rate as China and India were achieving good economic growth. However, he said, freight charges had fallen between 8% and 10% due to the increased capacity and with the entry of more big vessels serving the larger ports. “Although the freight rates have come down, these are still good compared with those in 2003.” Ling said Hubline had formed alliances with other shipping companies, and that it was buying space from them to ship cargo, for example, to India. He said the recent hike in fuel prices would not affect the company’s bottom line as the increase in operational costs had been cushioned by the imposition of a bunker surcharge. Hubline recorded a net profit of about RM46mil for the financial year ended Sept 30, 2005, which was an increase of RM27mil, or 70%, from 2004, while group revenue rose 8% to RM414mil from RM383mil before. Ling said RM8.8mil of the net profit last year came from extraordinary gains from the sale of four container vessels. He attributed the higher profits to increased cargo transported, higher freight rates and a more efficient utilisation of space in the vessels. Ling said the company was confident of sustaining its profit margin this year, as prospects for the container shipping industry looked buoyant. Chairman Richard Wee Liang Chiat said the company was focused on providing efficient services to niche markets in the intra-Asian regions. “We will strengthen and expand our services to niche markets and maintain efficient vessel deployment to more profitable routes,” he added.

PIL inks in two boxships at China's Dalian Singapore-based Pacific International Lines (PIL) is said to be ordering more boxships at Dalian Shipbuilding Industry. Market sources suggest the company has signed up for two more 1,800-teu newbuildings at the Chinese yard, bringing the total of such units it has on order there to six. "This pair of newbuildings are options that PIL held when it placed [orders] for four ships last year," said a source close to the company. Officials at PIL decline to comment on the deal. Market sources say PIL is paying between $32.54m and $33m each for its two newbuildings based on a heavy tail payments. This works out to about $6m less per ship than PIL paid for its earlier four vessels contracted 11 months ago. The order price at the time was said to be $39m per ship. Newbuilding brokers say boxship prices have fallen by more than 15% since last summer as the outlook for the sector appears gloomy. Some brokers say the price for the latest two newbuildings at Dalian is not the lowest. German owner Bernhard Schulte is said to have landed a better deal when it ordered a 1,700-teu newbuilding at the Guangzhou Wenchong shipyard in December for less than $31m based on an 80% top payment. A state-owned yard that falls under the China Shipbuilding Industrial Corp banner, Dalian is slated to deliver the six 1,800-teu newbuildings to PIL between late 2008 and 2009. Dalian is also building eight 4,250-teu vessels for the Singaporean owner. These panamaxes will become PIL's biggest ships. Two are set for delivery this year, two in 2007, two in 2008 and one in 2009. PIL intends to deploy them in the Europe trades. Meanwhile, PIL also has four 600-teu boxships on order at Penglai Zhongyi Shipyard, a small facility in Shangdong. The vessels are slated for delivery in 2007. The owner is also set to take delivery of a pair of 3,000-teu vessels from Shin Kurushima's Toyohashi shipyard in Japan this year and has a further three 938-teu units under construction at Shin Kochi Dockyard for delivery in 2006 through 2008. Over the past few years, PIL has been quietly shedding its image as an intra-Asian player by expanding across the globe. Its ships today call as far afield as Canada, Europe, the Middle East, Africa and South America.

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PSi-Daily Shipping News Page 13 4/2/2006

Evergreen, Samudera and Yangming (UK) Upgrade CSI Service

Evergreen Marine Corporation, Samudera Shipping Line (SSL) and Yangming (UK) (YM (UK)), strengthened their links between China and India with the upgrading of their China – Straits – India (CSI) service. By replacing the existing ships on this service, each with an effective capacity of approximately 1,000 TEU, with larger ships of around 1,200 TEU, the three lines are providing more choice for customers between China and India. Also, YM (UK) is stepping in to replace Hyundai Merchant Marine (HMM), which previously partnered Evergreen and SSL in operating this service. SSL provides three of the five ships for the CSI service with Evergreen and YM(UK) each contributing one ship. Other changes to the service include dropping Bangkok and adding Ningbo and Colombo, where feeder connections are available to a number of smaller Indian ports. The revised service will commence with the sailing of MV Uni-Patriot from Shanghai on 4 April. The port rotation is as follows: Shanghai – Ningbo - Hong Kong – Singapore – Colombo – Mumbai (Nhava Sheva) – Singapore – Johore – Laem Chabang – Hong Kong – Shanghai.

Karachi Port operations Four vessels carrying containers are expected to arrive at the outer anchorage on Sunday, according to KPT sources. Berthing activity at the wharves was relatively slow where four ships, Calvia P. Titus, Maersk Alabama and Thor Captain, to unload and load containers, and Hyun Kwang, to offload 20,000 tons of raw sugar, took berth. Five ships — Orient Independence, MOL Kauri, Calvin P. Titus, An Yue and Jiang and Energy Falcon — departed on Saturday, while Iron Butterfly, Nefeli-1, Yasmaina and Thor Captain were due to sail out on Sunday. Cargo handling activity at the wharves was active where a total tonnage of 93,560 tons comprising 19,827 tons of export cargo and 73,733 tons of import tonnage was handled. The following ships arrived on Sunday: Jade Trader, H.S. Discoverer, Pu He and Sagamor, to unload and load containers. The following are due on Monday: Queen Trader, to load ethanol, Hanjin Busan and Kota Teraju, to unload and load containers.

MISC in for five handies at STX An Asian tanker operator has signed up for five handysize units in South Korea.

State shipping company Malaysia International Shipping Corp (MISC) is renewing and growing its fleet with orders for handysize products tankers. Industry sources say the owner has ordered five 38,000-dwt chemical/products tankers at STX Shipbuilding. They are of a conventional design and are slated for delivery in 2009. "It has been known in the market that MISC has been trying to secure handysize products tankers for some time," said one tanker-market source. No prices have been disclosed but brokers say they will cost between $44m and 45m each. STX officials decline to comment on the deal and MISC did not return TradeWinds' calls before it went to press. MISC controls five products tankers of less than 30,000 dwt and one long-range-two (LR2) vessel. AET, the tanker arm of MISC, is said to have negotiated the orders on behalf of its parent. AET operates a modern fleet of eight VLCCs and 44 aframaxes and is a leading lightering operator in the Atlantic basin, particularly in the US Gulf. Initially, brokers put the order on AET's account but TradeWinds has now been told the newbuildings will be controlled by MISC.

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PSi-Daily Shipping News Page 14 4/2/2006

AET is engaged in a tender to acquire one VLCC, one suezmax and one aframax for Algerian oil-and-gas company Sonatrach shipping arm Hyproc. The two parties put out a tender inviting offers from both yards and owners earlier this year and indicated that they may also be open to offers on resales for the business. AET has three operating offices its Houston base manages North and South America, its Singapore shop is its "fresh start in a new arena" following a move to shift commercial operations from Kuala Lumpur to the garden city and its London office, incorporated last August, serves both offices.

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Another beautiful picture of the STENA ARCTICA arriving in Rotterdam-Europoort Photo : Piet van der Hoeven ©

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PSi-Daily Shipping News Page 15 4/2/2006

The latest carcarrier for the Maersk fleet the MAERSK WILLOW seen here arriving in Zeebrugge, The 21500 dwt MAERSK WILLOW is having a length of 199 mtr and is flying the Singapore flag.

Photo : Henk Claeys ©

The BRITISH ENVIRONMENT seen arriving at Port of Larne in Ireland at the jetty that serves the Ballylumford power station, the Belfast based tug WILLOWGARTH is seen pushing the tanker towards the jetty.

Photo : Tommy Bryceland – Scotland ©

OLDIE – FROM THE SHOEBOX

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056

PSi-Daily Shipping News Page 16 4/2/2006

Left to right: Tug CHINOOK and JAMES W, Sternwheel steam tug PORTLAND and tanker R. G. FOLLIS Another sternwheel steam tug whose name I cannot make out, alongside the ship, Small tug ECHO appears to be

corralling the remnants of a log raft, which may be the culprit that caused this mess in the first place. Text : Dan Owen © - Photo : Lawrence Barber News Photos – Portland ©

MARINE WEATHER THIS SECTION IS BROUGHT TO YOU BY :

Internet: www.spos.nl Tel : +31 317 399800 E-mail : [email protected]

Today’s wind (+6Bft) and wave (+3m) chart. Created with SPOS, the onboard weather information & voyage optimisation system, used on over 500 vessels today.

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2006 – 056

PSi-Daily Shipping News Page 17 4/2/2006

…. PHOTO OF THE DAY …..

Spotted in the Beagle Channel (Chile) March 5th 2006 the 1911 built Dutch 3-mast bark EUROPA Photo : Willem van Roon ©

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