10 May 2006 issue

Headlines

Purchase of 20% of capital of HPH by PSA

The Singaporean PSA INTERNATIONAL, manager of Rotterdam has purchased 20% of Hong Kong HUTCHISON PORT HOLDINGS, Antwerp’s port operator.

Source : Antenne, 5 May 2006

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Port of call le Havre

Just out of Ulsan’s Hyundai shipyard in South Korea, the container ship “Maersk Gosforth” made its first le Havre call. The ship is 292 meters long and 32 meters wide with a capacity of 4800 teus. The “Maersk Gosforth” was assigned to the “AE10” service of the Danish shipowner Maersk Sealand which links Northern Europe with the Middle East. The service will also call at Algesiras, Singapore, Busan, Shanghai, Hong Kong, Shenzhen, and Tanjung Pelepas. Eight ships of 4000 and 5000 teus have been deployed on this weekly service which calls at le Havre every Friday.

Source : Antenne 2 May

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A container ship of 8749 teu on China - North Europe route

Hapag-Lloyd has recently received delivery of a container ship of 8749 teu. Named Chicago express it has a capacity of 8749 teu. The ship has a top speed of 25 knots and can connect China with Northern Europe in only 56 days (calls en route included). The Chicago express is the third of a series of 14 ships ordered from the Korean shipyards Hyundai Heavy Industries.

Source : Antenne, 5 May

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Hapag-Lloyd’s integration of CP Ship

Hapag-Lloyd’s integration of the CP Ships business, creating the world’s fith-largest container line; will cost Euro 100m this year. The two carriers’ services will combine on the north Atlantic, CP’s core market, this month, with services on other routes merging from July.

Source : IFW, 1 May 2006

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Canadian carriers cleared for US-UK

Canadian carriers will get the chance to fly direct from the US to the UK later this year, with the completion of open-skies agreements between Canada and both countries. Canada already has fifth freedom rights with Germany and Belgium and limited fifth freedoms with the UK, but the new UK and US agreements allow seventh freedoms as well as unlimited fifths.

Source : IFW 1 May 2006

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A French delegation on visit in Algeria

A delegation of 70 French businessmen under the leadership of Medef’s president was in Algeria on the 2nd and 3rd of May. Members of the delegation met with the authorities in charge of economy and finance and Algerian executives. These meetings should allow business relations to develop with private and public Algerian decision makers. French executives want to reinforce all aspects of cooperation, establishing businesses and investing in Algeria. In January Algeria’s Minister for participation and promotion of investments spoke in favor of developing economic relations with France at a time when his country is speeding up the process of privatising a thousand companies.

Source : Antenne, 2 May

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A Tunisian delegation on visit in France

A Tunisian delegation consisting of three ministers (Industry, Development and Cooperation, and Research), the state secretary for foreign affairs in charge of European affairs and fifteen company Chief Executives and Tunisian businessmen came on a visit to France. Focusing on economic relations and cooperation, this visit aimed at developing bilateral trade. France is Tunisia’s leading commercial partner ( with 24% of market shares and 33% of Tunisian exports). Furthermore France supplies 43% of Tunisia's official development assistance. Both countries want to strengthen joint cooperation concerning international competition, especially in textile and new technologies sectors.

Source : Antenne 3 May 2006

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Argentinian , Venezuelian, Brazilian and Bolivian summit

Argentina, Venezuela, Bolivia, Brazil’s presidents met on 4th May to discuss the consequences of nationalisation of Bolivian oil. Talks were also held on the subject of the natural gas pipeline which Argentina, Brazil and Venezuela plan on building. The meeting was organised by Messrs. Lula and Kirchner.

Source : Antenne 4 May 2006

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Agreement between Bahrain and Greece

An agreement to facilitate transport and sea commerce between Bahrain and Greece was signed Wednesday by the Ministers concerned. The agreement aims at " abolishing all commercial hindrances in sea transport between both countries ", and "facilitating access of ports to ships of both countries" and to "mutual assistance in case of sea accidents near both countries coastlines". This agreement was signed at Manama between the Greek minister, Manolis Kefaloyannis, of the merchant navy and the Bahrain minister of economy, cheikh Ahmed Bin Mohammed al-Khalifa.

Source : Antenne 5 May 2006

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Byrd amendment

On Sunday the European union announced an increase in customs retaliation measures concerning the USA for 2006 due to an increase in financial compensation to American companies as part of the Byrd amendment, an antidumping system which was condemned by the WTO (World Trade Organisation).

Source : Antenne, 2 May 2006

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