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Natural gas discovery a double-edged sword

Natural gas discovery a double-edged sword

IN A world facing rising energy prices in the midst of the worst economic crisis since the Great Depression, any discovery of new oil and gas deposits is welcome as another

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Interpol hunts Vietnam shipping officials

Interpol hunts Vietnam shipping officials

Interpol has issued a global search warrant for two former officials of Vietnam's troubled state-owned shipbuilder, state media said Sunday.The wanted pair are Ho Ngoc Tung,

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SOMALIA: The hidden cost of piracy

SOMALIA: The hidden cost of piracy

The growth of piracy off the coast of Somalia from an occasional nuisance to shipping into a multi-million-dollar criminal enterprise has another, often deliberately overlooked cost:

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Bulk freight rates to increase

Bulk freight rates to increase

Rates for panamax dry bulk carriers on key Asian freight routes are expected to rise next week, supported by strong trans-Pacific grain shipments and intra-Asia coal trade.

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TTA adds size and efficiency to its fleet Takes delivery of brand new Supramax class vessel from Oshima

TTA adds size and efficiency to its fleet Takes delivery of brand new Supramax class vessel from Oshima

Thoresen Thai Agencies PCL ("TTA") took delivery of the M.V. Thor Fortune, a brand new Supramax class dry bulk vessel. The ship, which was built by Oshima Shipbuilding Co., Ltd.,

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Kazakh shipping firm plans $800 mln investment

Kazakh shipping firm plans $800 mln investment

Kazmortransflot, the shipping arm of Kazakh state oil and gas company KazMunaiGas, plans to spend around $800 million renewing its fleet over the next eight years and may

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Next generation BWT technology secures six ships

Next generation BWT technology secures six ships

Ciner Shipping Industry & Trading, a subsidiary within Ciner Group, one of Turkey’s fastest growing commerce, industry and service conglomerates, has secured

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Unifeeder sees fair volume growth, rates a worry

Unifeeder sees fair volume growth, rates a worry

Danish shipping company Unifeeder, a private equity-owned firm seen as a candidate for a bourse listing, expects growth in volumes this year, though weak freight rates

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Asian container-shipping sector faces headwinds amid weak pricing power, potential excess supply

Asian container-shipping sector faces headwinds amid weak pricing power, potential excess supply

As latest statistics released from the major economies suggest slowdown in global economy ahead, most research houses have sounded cautious note on Asian

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Members of House Subcommittee on Coast Guard and Maritime Transportation Express Strong Support for Jones Act

Members of House Subcommittee on Coast Guard and Maritime Transportation Express Strong Support for Jones Act

Members of the House Subcommittee on Coast Guard and Maritime Transportation said the Jones Act is critical to the national, economic, and homeland security

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More businesses diversifying as shipping industry suffers

More businesses diversifying as shipping industry suffers

A key measure of commodity shipping costs - the Baltic Dry Index - has barely recovered from its plunge during the 2008 crisis. That meant shipping lines that carry raw materials

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Kingdom’s oil output hike pushes up tanker demand

Kingdom’s oil output hike pushes up tanker demand

The number of crude oil tankers booked from the Middle East has surged 15 percent to a multi-year high this month due to an increase in Saudi Arabian exports, shipbrokers said.

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GL Exchange Forum 'Towards a Cleaner Maritime Industry'

GL Exchange Forum 'Towards a Cleaner Maritime Industry'

In a world increasingly dominated by the need to reduce environmental impacts, what role does shipping have to play? Technological solutions exist, but which will prove

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Lloyd’s Reviewing Assertion That Shipping Ransoms May Finance Terror Group

Lloyd’s Reviewing Assertion That Shipping Ransoms May Finance Terror Group

Underwriters at Lloyd’s of London, the world’s oldest insurance market, are reviewing the assertion of a U.S. lawmaker that ransoms paid to Somali pirates may

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Morgan Stanley Hires Cheapest Ship in 31 Months as Rents Plunge

Morgan Stanley Hires Cheapest Ship in 31 Months as Rents Plunge

Morgan Stanley, the U.S. bank with commodity assets of about $8 billion, booked a capesize ship at what may be the lowest rent in 31 months as a glut of vessels weighed on transportation costs for raw materials.The bank hired the Anangel Explorer on

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Total Sees Trend Emerging of Rising Global Costs on Oil Prices

Total Sees Trend Emerging of Rising Global Costs on Oil Prices

Total SA (FP), Europe’s third-biggest oil company, said the costs of developing energy projects are being dragged higher by oil prices.

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Barclays: Possibility of an increased crude oil supply gap in Q3

Barclays: Possibility of an increased crude oil supply gap in Q3

In the shorter term, oil fundamentals remain in tightening mode, with sharp reductions in the prospects for non-OPEC supply and resilient global demand indicating the likelihood of an increased supply gap in Q3 in a world with a declining inventory cover and spare capacity, said Barclays in a report.

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Arab spring likely to leave oil firms unscathed

Arab spring likely to leave oil firms unscathed

Western oil firms are unlikely to face widespread asset seizures or contract revisions as a result of Arab uprisings, thanks to deft diplomacy, legal protections and efforts to depict themselves as partners of the local citizenry

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USC and STX ink agreement to form new shipbuilding JV

USC and STX ink agreement to form new shipbuilding JV

Russian United Shipbuilding Corporation (USC) and South Korean STX Offshore & Shipbuilding yesterday signed an agreement to establish a joint venture “New Admiralty Shipyards”

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Croatia: Chinese Investors to Finance USD 90 Million in Rijeka’s 3.Maj Shipyard

Croatia: Chinese Investors to Finance USD 90 Million in Rijeka’s 3.Maj Shipyard

A delegation of Chinese investors have expressed interest in acquiring Rijeka’s 3.Maj shipyard, planning to invest some 63.8 million Euro. Although aware

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