DAILY COLLECTION OF MARITIME PRESS CLIPPINGS

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1 Number 254** COLLECTION OF MARITIME PRESS CLIPPINGS ***Friday 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 VB RHOON The Netherlands Telephone: (+31) (+31) (a.o.h.) Fax : (+31) Internet & info@vlierodam.nl One of the latest pictures of the Mighty Servant 3, seen during the offloading of the Aleutian Key off Angola just before the incident occured Photo : crew Pride Angola PSi-Daily Shipping News Page 1 12/7/2006

2 SMITWIJS TOWAGE B.V. Westplein 5b 3016 BM Rotterdam The Netherlands Telephone: Telefax: DO YOU HAVE PICTURES OR OTHER SHIPPING RELATED INFORMATION FOR THE NEWS CLIPPINGS?? PLEASE SEND THIS TO : newsclippings@gmail.com EVENTS, INCIDENTS & OPERATIONS MIGHTY SERVANT 3 ACCIDENT photos PSi-Daily Shipping News Page 2 12/7/2006

3 The editor of the news clippings received from several sources pictures of the last moments of the MIGHTY SERVANT 3 offshore Angola, Herewith a small impression of this sad moment. PSi-Daily Shipping News Page 3 12/7/2006

4 Containerhaven heeft toekomst door Jeffrey Kutterink Rotterdam ziet het helemaal zitten. Vlissingen kan uitgroeien tot een van de grootste containerhavens in het noordwesten van Europa. Tien miljoen containers per jaar kunnen er worden overgeslagen. Maar daarvoor heeft Zeeland Rotterdam hard nodig, schrijft het Havenbedrijf. Nog geen elf A4-tjes dun is de analyse over de toekomst van de Zeeuwse havens. Het Havenbedrijf Rotterdam doet zijn best om Zeeland nog eens uit te leggen waarom samenwerken zo noodzakelijk is. Zeeland wil wel hand in hand met Rotterdam, maar wil die samenwerking beperken tot de activiteiten met de Westerschelde Container Terminal. Dat ziet het Havenbedrijf niet zitten, want de Rotterdammers willen álle containeractiviteiten in Zeeland samendoen met het havenschap Zeeland Seaports. De WCT alleen maakt geen kans, denkt Rotterdam. Bovendien worden Zeeland en Rotterdam dan elkaars concurrenten. Hoewel dat niet is omschreven, wordt geen van de twee daar iets wijzer van, denkt het Havenbedrijf. Zeeland schrijft met de WCT nog rodere cijfers dan al is voorzien en op de Rotterdamse balans staan meer grijze dan zwarte resultaten. Daarom zet Rotterdam zijn visie nog eens uiteen. In de analyse Vlissingen Containerhaven beredeneert het Havenbedrijf de kansen en bedreigingen voor Zeeland. Alleen als de Zeeuwse havens op grote schaal overschakelen van industrie- naar containerhaven, is overslag van stalen dozen in Zeeland rendabel. Dan wordt het mogelijk om lading goed te verspreiden, retourvracht te krijgen, veel bestemmingen in het achterland te bedienen en een frequente dienstverlening te bieden. In de notitie schetst het Havenbedrijf de geografische mogelijkheden. Het houdt in de plannen rekening met het mogelijke vertrek van aluminiumsmelterij Pechiney. Industrieën die op termijn uit Europese havens vertrekken, volgens Rotterdam. Vlissingen verandert in die visie van industrie- naar containerhaven. Als alle plannen werkelijkheid worden rijden er per week tussen de 200 en 250 containertreinen over de spoorlijn (voor de WCT wordt rekening gehouden met 60 tot 90 treinen per week). Volgens het Havenbedrijf is dat geen probleem, mits er geluidsschermen en stille treinen komen. Nader onderzoek naar (on)mogelijkheden van het spoor is wel gewenst, vindt de Rotterdamse haven. Het aantal vrachtwagens zal zichtbaar toenemen, ook al is het streven om die groei beperkt te houden. Overleg met het Rijk is nodig. Saillant detail is dat de haven niet 24 uur in bedrijf kan zijn. Afspraken tussen provincie en gemeenten over de hoeveelheid geluid maakt de ontwikkeling van Vlissingen tot containerhaven met een Rotterdamse bedrijfsvoering onmogelijk. Daarom moet op een rij worden gezet wat de geluidsmogelijkheden zijn. Liverpool snag for Adsteam takeover Disposal of either the Adsteam or SvitzerWijsmuller towage operations in Liverpool appears all that is needed for the takeover deal involving the two companies to go ahead. The preliminary findings of the UK s Competition Commission found the takeover would be expected to result in a substantial lessening of competition within the market of harbour and terminal towage services in Liverpool. However sale of either operation would in principle address the adverse effects it has identified, the Commission said. This is despite the fact that if the deal is concluded next year as now seems likely, the combined group would control over two-thirds of all harbour towage in the UK. Liverpool is the only port in the UK where both companies operate. The Commission will invite views on the proposals from interested parties which have to be in by 15 December In the meantime SvitzerWijsmuller CEO Jesper Lok welcomed the Commission s provisional findings. "We will address the findings both in respect of Liverpool and the possible remedies in relation to the port with the Competition Commission during the review process, he commented. SvitzerWijsmuller intends to extend the offer to take account of this process. The Commission's findings will now go out to consultation, with the full findings issued in February. PSi-Daily Shipping News Page 4 12/7/2006

5 The SALVALIANT & SALVIGOUR moored in Willemstad (Curacao) Photo : Kees Bustraan Bergers voorkomen zinken schip Door Wout Bareman Bergers van Multraship en de Unie van Reddings- en Sleepdienst (URS) konden gisteravond door snel ingrijpen voorkomen dat het Belgische binnenvaartschip Ru-San zonk. Foto : Adri van de Wege Het schip, geladen met gerst, kwam om vijf over zeven door een verkeerde manoeuvre op de steenstort tussen de Oude Veerhaven en de Oostbuitenhaven terecht. Nadat de sleepboot Multratug 16 van Multraship nauwelijks een half uur later kans zag het schip vlot te trekken, meldde de schipper dat zijn schip water maakte. Ook twee andere toegesnelde slepers, de Multratug 15 en de Zeeland (URS) maakten daarop vast. De Ru-San werd afgemeerd aan het remmingwerk voor de binnenvaartsluis en er werd direct begonnen met het leegpompen. In de loop van de avond werd vervolgens begonnen met het lossen van de lading. PSi-Daily Shipping News Page 5 12/7/2006

6 De bergingswerkzaamheden aan de RU-SAN waren donderdagmorgen nog steeds in volle gang. Gedurende de nacht is men verder gegaan met het overslaan van de lading in en d.m.v de CARLA en is er toch doorgegaan met pompen omdat het schip toch lek bleek te zijn. Ook de sleepboot BRAVO van Polderman uit Hansweert is er bijgekomen om te helpen met pompen. Duikers waren ook nog steeds bezig met het dichtmaken van lekkages. Foto: Jonathan Smedeman Donderdag rond het middaguur was men klaar met de overslag en hebben ze de RU-SAN opgeschut d.m.v. de MULTRASALVOR, BRAVO en MULTRATUG 15 naar Scheepswerf de Schroef gebracht in Sluiskil. De CARLA is ook achteraan gevaren met de lading van de RU- SAN. Guilty seafarers await sentencing Two engineers from the South Korean-flagged bulker Sun New pleaded guilty yesterday to oil dumping related charges and now face federal prison terms and heavy fines in consequence. The guilty pleas to environmental crimes and obstruction of justice by chief engineer Chang-Sig O and second engineer Mun Sig Wang come weeks after the vessel s owner Sun Ace Shipping pleaded guilty to violating the Act to Prevent Pollution from Ships and agreed to pay a $500,000 fine. Now, Chang-Sig O faces up to five years in prison and a $250,000 fine and the maximum sentence for Mun Sig Wang is six years in prison and a $250,000 fine for their roles in falsifying oil log books and lying to the USCG, the US Justice Department says in a statement. The incident stems from a 3 January Coast Guard inspection of the 31,253- dwt ship when a boarding party discovered evidence that a magic pipe had been used to dump oily water overboard and a log book that recorded none of it. "The defendants admitted that they used bypass hoses to circumvent required pollution control equipment and then lied and falsified records to conceal their illegal dumping," said David Uhlmann, chief of the Environmental Crimes Section of the Justice Department's Environment and Natural Resources Division. CASUALTY REPORTING Tug sinks yacht, no injuries reported A 46-foot sport fishing yacht sank around 1:45 a.m. Wednesday after a tug knocked a piling into the port bow, according to a United States Coast Guard report. The Snoopy II yacht was docked near Quantico Wharf, about five miles west of Salisbury along the Wicomico River. The master of the diesel barge Tug Merrimac reported to the Coast Guard that his barge had struck a piling. All but the flying bridge of the yacht ins under water. About two gallons of yacht s fuel has leaked out, but an abosrbent boom has been placed in the area. No injuries were reported. ABU RDEES AAN DE GROND OP WESTERSCHELDE PSi-Daily Shipping News Page 6 12/7/2006

7 Woensdagavond rond uur is het Egyptische vrachtschip ABU RDEES na machineschade aan de grond gelopen in het Oostgat ter hoogte van de OG 19. Tijdens het vastmaken heeft de SCHOUWENBANK haar sleepmateriaal gebroken. De MULTRASALVOR heeft vastgemaakt en zijn de MULTRASHIP RESPONDER, MULTRATUG 12 en de WALCHEREN zijn onderweg gegaan naar het 133 mtr. lange schip. Laatstgenoemde heeft ook vastgemaakt. Om uur zat het schip nog steeds aan de grond. Het eerste komende Laagwater was om uur en er werd een verhoging van de waterstand verwacht van 3-6 dm. De bergers konden omstreeks middernacht een nieuwe poging doen en slaagden er omstreeks uur in het schip met vijf sleepboten vlot te trekken en naar de rede van Vlissingen te slepen. Het schip is daar ten anker gegaan voor nadere inspectie. Wanneer het schip de reis kan vervolgen is nog niet bekend. De bergers blijven vooralsnog stand-by. Bij deze calamiteit en de bovenstaande Ru-San waren in totaal 10 sleepboten en bergingsvaartuigen betrokken, alsmede een 18-koppig bergingsteam. Een team van Rijkswaterstaat Directie Zeeland hield toezicht. De bergers van Multraship en URS hebben met hun snelle en succesvolle actie wederom het belang van dag en nacht gestationeerde bergingssleepboten en de onmiddellijke beschikbaarheid van deskundig personeel op de Westerschelde aangetoond. 105m barge on the loose Two lifeboat men had to be airlifted to safety after trying to stop a 105m barge from straying into busy shipping lanes. Second Mechanic Simon Tugwell and Deputy Coxswain Steve Smith scrambled aboard the barge, which had broken away from a tug boat off the coast of Shoreham. They set up a tug line and managed to drop one of the barge's two 12ft anchors before being forced to abandon ship. They were rescued by Solent Coastguard's helicopter India Juliet. Mr Tugwell, 40, a married father-of-one said: "We pulled the lifeboat up next to the barge and Smithy and I scrambled up the ladder to get on board." Severe weather conditions made the mission even more difficult - 13ft waves and gale force winds forced the rest of the Shoreham Lifeboat station team back, leaving their crew mates on board the barge. The crew managed to slow the multi-million pound barge from six knots to just over three before they were forced to abandon the mission. NAVY NEWS THIS SECTION IS BROUGHT TO YOU BY : PSi-Daily Shipping News Page 7 12/7/2006

8 ANGLO DUTCH SHIPBROKERS bvba Waterstraat SCHILDE BELGIUM Tel : Fax : anglodutch@pandora.be SHIPYARD NEWS THIS SECTION IS BROUGHT TO YOU BY : RENERGI COMBUSTION IMPROVER >> RENERGI added to the fuel, changes the structure of the hydrocarbons within the fuel. >> RENERGI will increase the efficiency of the combustion process. Before using RENERGI After using RENERGI WESTMARK bv RENERGI will effectively lead to: > Reduced fuel consumption. Postbox 1082 > Cleaner turbochargers exhaust gas boilers and engines EB Woudenberg > Extended maintenance intervals and reduced consumption The Netherlands of spare parts. Tel + 31 (0) > Lower emissions and substantially cleaner exhaust gasses. Fax + 31 (0) > Easy and simple dosing system. info@westmark.nl Boluda eyes Marseilles' dock 10 PSi-Daily Shipping News Page 8 12/7/2006

9 Spanish shipping and ship repair group Boluda, which took over Marseilles-based ship repair yard Compagnie Marseille Réparation (CMR) is showing interest in the port of Marseilles s dock 10. A new lease of life will be given to the facility, which has been out of service for more than a decade, with the port putting out a tender next month. As part of CMR (now renamed Union Naval Marseilles), Boluda has taken over docks 8 and 9 and is keen to purchase dock 10 to repair very large vessels such as large LNG and cruise ships. In the past the local ship repair industry was unable to attract large vessels to the dock. This, combined with a broken dock door with an estimated repair cost of euro12-15m ($16-20M), has kept it out of action. However, the venture stands a greater chance of success after Buloda signed an agreement with Aker Yards to repair and maintain cruise vessels trading in the Mediterranean. Dock 10 was built in the 1970s to accommodate ULCCs, and measures 465m in length and 85m in width. The Vane Bros New AT/B tug BRANDYWINE The BRANDYWINE seen at Marinette Marine a few weeks ago. She'll be leaving the Lakes next week with her new barge. Thought you folks might want to see her, she is a sister to the CAPT. HAGEN we designed a few years back. Photo : Bob Hill EC approves state aid for Maersk's German yard The European Commission has approved regional investment aid of Euros 4.2 million to German shipyard Volkswerft Stralsund, which belongs to A.P. Moller-Maersk and is a unit of its Odense Steel Shipyard Group. After an in-depth investigation initiated in February 2006, the Commission has concluded that the investment is limited to a modernization of the yard that will improve its productivity. It will not result in a disproportionate capacity increase. Competition Commissioner Neelie Kroes commented: "The aid encourages greater efficiency and competitiveness of an EU yard. This is in line with the objective of the State Aid Action Plan of less and better targeted state aid. I am satisfied that the aid is only used to modernize the yard and not to create additional capacity." PSi-Daily Shipping News Page 9 12/7/2006

10 In August 2005 Germany notifiedthe Commission of its intention to grant regional investment aid to the yard, which located in Stralsund, Mecklenburg-Vorpommern, a region where the standard of living is below the EU average and there is serious unemployment. The proposed investment aid would enable the yard to build larger, panamax-sized vessels at competitive costs, thereby increasing the productivity of the yard. Total modernization costs amount to Euros18.7 million. Germany intends to provide Euros 4.2 million, which corresponds to an aid percentage of 22.5%, the maximum allowed under European Commission rules on state aid to shipbuilding. The shipyard rules are more restrictive than the general rules on regional investment aid as they only permit investments in upgrading and modernization of existing yards to improve the productivity of existing installations. The objective is to ensure there is no state aid for the creation of new shipbuilding capacity. The Commission decided in February 2006 to open an in-depth investigation of the Volkswerft case as it was concerned that the investment might lead to a significant capacity increase at the yard. However, Germany has demonstrated that, while steel processing capacities will increase slightly. the output of the yard as a whole will remain unchanged following the implementation of the investment project. ROUTE, PORTS & SERVICES THIS SECTION IS BROUGHT TO YOU BY : TOTAL VESSEL MANAGEMENT K.P. van der Mandelelaan MB Rotterdam (Brainpark) - The Netherlands Telephone : (31) Fax : (31) mail@workships.nl Website : Cocaïne in container ananas onderschept De douane heeft in de Antwerpse haven vijfhonderd kilogram cocaïne gevonden. De drugs zaten verstopt tussen dozen ananas in een container. De lading was op weg naar Nederland. De Nederlandse politie heeft zes verdachten opgepakt, drie Nederlanders, een Colombiaan en twee Venezolanen. De haven van Antwerpen wordt meer en meer gebruikt als doorvoerhaven voor cocaïne. Teekay to Buy Four LPG carriers Teekay LNG Partners LP, a Bahamas maritime firm, will pay $106m to buy four liquefied petroleum gas carriers. Upon their delivery to Teekay LNG, all of the vessels will run on long-term, fixed-rate time-charters, Teekay said Wednesday. The company expects that each ship will generate about $11.6m per year in revenues. Three of the LPG carriers are under construction and will be purchased from IM Skaugen ASA upon their delivery from the shipyard between early 2008 and mid PSi-Daily Shipping News Page 10 12/7/2006

11 PORTAL KRIJGT KWALITEITSIMPULS Onlangs is de vernieuwde en uitgebreide HME-website gelanceerd. De site vormt hiermee een portal voor de leden én voor het maritieme publiek. Er is uitgebreide en toegankelijke informatie te vinden over de leden, de events die HME organiseert en de (inter)nationale maritieme sector. is volledig nieuwsgerelateerd geworden. In een enkele oogopslag is te zien welke toeleverancier een nieuw product gelanceerd heeft of wie aan een grote nieuwbouworder geleverd heeft. Ook is op de homepage direct duidelijk wat de komende activiteiten van HME zijn. Op welke beurzen wordt het Nederlands Paviljoen opgebouwd? Wat zijn de komende workshops, seminars en trainingen? Het online inschrijven voor de HME-activiteiten biedt extra gemak. Nieuw op site is de uitgebreide wereldwijde scheepsbouwinformatie. Door middel van eenvoudige zoekmogelijkheden is voor leden een schat aan informatie te vinden. Welke orders zijn er onlangs in Vietnam geplaatst? Hoeveel containerschepen zijn er vorig jaar in India gebouwd? In de uitgebreide database van HME s Shipbuilding Intelligence Service is het antwoord op dergelijke vragen onbeperkt beschikbaar. Tevens worden hier alle HME-Clippers (wekelijkse uitgave met wereldwijd scheepsbouwnieuws) gearchiveerd. is beschikbaar in het Engels en Nederlands. Verder zijn er directe linken naar de Vietnamese en Chinese websites, waar HME in participeert. Internet is een wereldwijd gemeengoed aan het worden. Hiermee veranderen ook de eisen van een toegankelijke website. HME ziet haar website als een belangrijk communicatiemiddel voor haar leden, maar ook voor hun (potentiële) klanten. Voor meer informatie en suggesties kunt u contact opnemen met Linda te Veldhuis, public relations manager (T: (010) of E: lv@hme.nl). ******* ******** Ormen Lange exhibition in Stavanger Minister of Petroleum and Energy Odd Roger Enoksen opened a new exhibition on Wednesday featuring the thrilling Ormen Lange gas development. The exhibition is being held in the Norwegian Petroleum Museum in Stavanger. At the opening of the exhibition Ormen Lange project director, Hydro's Tom Røtjer, briefed partipants about the major gas development project on the Ormen Lange field coming on stream next year. "It's especially pleasing to be responsible for a project that is being rewarded with its own exhibition even before it's been completed! First and foremost, I would like to congratulate the museum. Once again it has demonstrated its ability to portray the scale of, and the challenges faced by Norway's oil industry in a very convincing way," he said. The Ormen Lange exhibition is being unveiled almost a year before the field comes on stream. It provides a good example of how museums do not need to look back in time, but can also reflect contemporary technological solutions and illustrate what the future has in store. The exhibition features a large-scale model of the development concept and a virtual reality simulator. The prizewinning film on Ormen Lange "The Traveller", presented by Ian Wright of TV's Lonely Planet series, is being shown in a state-of- the-art movie theater. The public can also play the arcade game "Crazy Engineering" with its Ormen Lange theme. PSi-Daily Shipping News Page 11 12/7/2006

12 "Ormen Lange is primarily an impressive joint project involving the partners, the supplier industry, the local community, academia and the authorities," Røtjer said. The Ormen Lange development was adopted by the Storting in 2004 and is the biggest-ever single investment in Norway. "All the project milestones reached so far have been exactly as planned. We are now well positioned to deliver gas to the UK next year, in line with the time and budget limits set," added Røtjer. This was Odd Roger Enoksen's first visit to the petroleum museum in Stavanger. In his address, he praised the museum for enabling Norway's oil history to be communicated so well. He also emphasized how important the Ormen Lange development is for the country. The exhibition was developed by the Norwegian Petroleum Museum in collaboration with Hydro, Norske Shell, Det Norske Veritas and Oceaneering. Bermuda Marine Police Unit has a new Guardian A 16 m Austal patrol boat is now in service with the Bermuda Marine Police. Named Guardian, it is a sister ship to six recently delivered six New South Wales Water Police boats and entered service on December 4. The delivery trip from the West Australian shipyard included shipping the vessel to Savannah, Ga., before it travelled under its own power on a 900 nautical mile final voyage to Bermuda via Morehead City in South Carolina. general assistance to police units and governmental agencies. After arriving at the island in late September, sea trials and familiarization exercises were held in local waters for the Police Marine Unit. The vessel will be based in Hamilton for general patrol, search and rescue, dive operations and Guardian is an all aluminum mono-hull design that features all the design upgrades included in the current New South Wales Police Boat fleet that replaced seven 16 m police boats delivery by Austal in The vessel has a cruising speed of 20 knots with a 400 nautical mile range. Designed to operate up to 200 nautical miles offshore. it is outfitted with an array of communication and navigation equipment to compliment the role and capabilities. From May 19-26, 2006 the Bermuda Police Service held a competition to name its new Police boat, which was open to all elementary, middle school and high school students across the island. 98 entries were received and the name Guardian was submitted by Bermuda High School student Freya Lawrence and ultimately chosen as the name of the new Police vessel. PRINCIPAL PARTICULARS: Length overall: 16.0 m Beam: 4.87 m Draft: 1.25 m Main engines: 2 x Caterpillar C12, 492 kw each Gearboxes 2 x Twin Disc Quickshift MGX 5114A Maximum speed: 28 knots Cruise speed 20 knots PSi-Daily Shipping News Page 12 12/7/2006

13 FISHER BUYS FT EVERARD FOR US$102M UK-based shipping and marine services group James Fisher is to buy family coaster firm FT Everard for 23.7m (US$46.7m) cash and the assumption of 28.0m of debt. Everards, once the owner one of the biggest British coastwise and shortsea dry cargo fleets, now operates 11 coastal products tankers, 9 of which it owns, with four further tankers due to enter service in It also owns and operates Cattedown Wharves terminal at Plymouth Fisher says the debt that it takes over will be financed through existing and new bank facilities. In a statement Fishers lists a number of benefits and opportunities arising from buying Everards including: a predominantly modern double hulled fleet; anticipated increased cash flow allowing Fishers to expand its other activities; the ability to re-finance FT Everard's owned ships to reduce post acquisition financial gearing; and the ability to bring FT Everard's fleet into the tonnage tax regime. The combined tanker operations will operate under the name James Fisher Everard. Once the deal is finalized Everards directors Michael and William Everard will join the Fishers board. Fishers chairman Tim Harris said: We are buying a business we know with an excellent operational reputation and which provides us with the opportunity to grow and enhance the business significantly.' He added: 'We intend to repeat the successful tankships formula by using the strong cash flow benefits from an enlarged and integrated tankship fleet to pursue further expansion in the Company's other divisions. The key focus for growth in the enlarged James Fisher group will remain marine support services, comprising the offshore oil, specialist technical and defence divisions. This contributed 67% of group profits in the first half of 2006 Everards chairman Michael Everard said: 'My family started FT Everard in the late 1800's and through four generations we have been the owners of the company. In James Fisher we see a like minded and successful company with a refreshing and modern attitude to the operation of tankships and marine services. We are confident that we have found the right strategic home for our company and our employees. My brother and I are delighted to join the Board of James Fisher following completion of the Acquisition and to remain involved with the business. QUINTANA PAYS CMB US$92.5M FOR CAPESIZE NEWBUILDING NASDAQ-listed, Marshall Islands-registered bulk carrier owner Quintana Maritime has bought a newbuilding capesize bulk carrier under construction at Shanghai Waigaoqiao Shipbuilding Co from Belgian-based CMB for US$92.5m. The 177,000 dwt, to be named Iron Miner, is due for delivery in March next year and has been fixed on a five-year time charter to major capesize market player Transfield, at a net daily rate of US$40,000 with, A statement says: Quintana Maritime has advanced the sellers a cash deposit of US$9.25m, or 10% of the aggregate purchase price of the vessel, and intends to fund the balance of the purchase price, upon delivery of the ship in March 2007, with borrowings under its existing credit facility, cash on hand, and the proceeds from the exercise of warrants. It adds: Quintana expects to partially finance the acquisition with the proceeds from the exercise of approximately 3.2 million warrants, including 1.1 million warrants that have already been exercised, 0.4 million warrants in the process of being exercised, and 1.7 million warrants held by sponsors of the Company. These sponsors, which include affiliates of Corbin J. Robertson, Jr., First Reserve Corporation, and AMCI International, Inc., have expressed their intention to exercise their warrants prior to the delivery of Iron Miner. Certain factors, including a decline in the price of Quintana s common stock below the exercise price of the warrants prior to the delivery of the vessel, could cause the sponsors not to exercise their warrants. If the sponsors do not exercise the warrants, the company will be required to find an alternative source of financing to pay the balance of the purchase price of the vessel upon delivery. PSi-Daily Shipping News Page 13 12/7/2006

14 Furthermore, a major operator in the Capesize market that operates in excess of 40 Capes. Including the charter on Iron Miner, the Company has secured approximately 90% of 2007 net operating days under time charter contracts, representing approximately $191.0 million in net revenues. Quintana Maritime s CEO and president Stamatis Molaris said: "This latest acquisition is consistent with our articulated strategy to expand our presence in the capesize sector, while at the same time securing profitable long term employment opportunities. We believe this acquisition will be an accretive use of the proceeds received or expected to be received from the exercise of approximately 3.2 million warrants out of the total of 8.2 million warrants issued. We remain committed to grow Quintana, within our selected segments, while at the same time we enhance the stability and predictability of our cash flow and earnings." DFDS Sells Oldest Ro-Ro LISCO Baltic in the DFDS Group has sold the ro-ro vessel "Tor Neringa" to a Latvian company for immediate takeover. Top : The TOR NERINGA Photo : David Hazell The ship will continue on a timecharter to DFDS Tor Line for the coming three years. Presently the vessel is serving the Kristiansand-Immingham run. By selling "Tor Neringa" the DFDS Group has reduced the average age of the fleet dramatically, as "Tor Neringa" is the oldest ship in the fleet. It was built in 1975 by Ankerl\kken Verft and delivered to Fred Olsen under the name of Balduin. Tor Neringa came to the DFDS fleet in the beginning of 1999, when most of LISCO was purchased, reports SSG. MOVEMENTS THIS SECTION IS BROUGHT TO YOU BY : MULTRASHIP Towage & Salvage Scheldekade EH Terneuzen The Netherlands Tel : Fax : Internet commercial@multraship.com PSi-Daily Shipping News Page 14 12/7/2006

15 The MULTRATUG 15 seen towing the RU-SAN through the Terneuzen locks Photo : Adri van de Wege The STENA CONTENDER seen approaching Rotterdam-Europoort Photo : Harry van den Berg PSi-Daily Shipping News Page 15 12/7/2006

16 Capt Dirk Rotgans seen driving the SMIT ARUBA whilst assisting the YM ORCHID in Rotterdam Europoort Photo : Harry van den Berg AIRCRAFT / AIRPORT NEWS Luchthaven Deurne verwacht duidelijkheid over certificaat De luchthaven van Deurne verwacht nog dit jaar meer duidelijkheid over de uitreiking van het luchthavencertificaat door het Directoraat-generaal Luchtvaart. Dat zegt luchthavencommandant Eddy Cleirbaut. "Volgende week is er nog een audit gepland. Daarna verwachten we snel meer duidelijkheid over de toekenning van het luchthavencertificaat", aldus Cleirbaut. Het behoud van het certificaat van de luchthaven van Deurne was afgelopen zomer voorpaginanieuws toen er bomen aan het Fort van Borsbeek moesten sneuvelen omdat die een gevaar betekenden voor de luchtvaartactiviteiten van Deurne. Verdwenen de bomen niet, dan zou een verlenging van het certificaat wel eens erg moeilijk kunnen worden. Toch zijn alle problemen voor de luchthaven van Deurne nog niet van de baan. Het ontbreken van een door ICAO, de Internationale Burgerluchtvaartorganisatie, verplichte veiligheidsstrook van 150 meter aan de kant van de Krijgsbaan, is namelijk een tweede veiligheidsvoorwaarde waaraan Deurne tegen 2009 nog moet voldoen. PSi-Daily Shipping News Page 16 12/7/2006

17 KLM start proef met draadloze berichtenservice KLM houdt op Schiphol een proef met het versturen van draadloze berichten aan passagiers. De proef, op basis van bluetooth-technologie, is erop gericht de passagiersstromen op de luchthaven in goede banen te leiden. Dat heeft het bedrijf donderdag bekendgemaakt. Tijdens de zogeheten BlueCasting-proef, die loopt tot 4 februari 2007, krijgen passagiers de boodschap dat ze online kunnen inchecken om rijen aan de balie te voorkomen. Dat lijkt niet erg zinvol omdat de passagiers zich al op Schiphol bevinden. Volgens een woordvoerder gaat het niet zozeer om de inhoud van het bericht, maar om het testen van de technologie en de reactie van de passagiers. De berichtenservice werkt overigens alleen als de bluetoothfunctie op de mobiele telefoon of elektronische zakagenda is ingeschakeld.,,als je het niet wilt, ben je er dus ook zo van af.'' KLM zet BlueCasting samen met het internetbedrijf Lost Boys op. De woordvoerder wilde geen financiële details geven MARINE WEATHER THIS SECTION IS BROUGHT TO YOU BY : Internet: Tel : sposinfo@meteo.nl Today s wind (+6Bft) and wave (+3m) chart. Created with SPOS, the onboard weather information & voyage optimisation system, used on over 500 vessels today.. PHOTO OF THE DAY.. PSi-Daily Shipping News Page 17 12/7/2006

18 The THAMESBANK seen assisting the DEIRA in the port of Rotterdam Photo : Frans Bausch The compiler of the news clippings disclaim all liability for any loss, damage or exense however caused, arising from the sending, receipt, or use of this communication and on any reliance placed upon the information provided through this free service and does not guarantee the completeness or accuracy of the information. If you want to no longer receive this bulletin kindly reply with the word unsubscribe in the subject line. PSi-Daily Shipping News Page 18 12/7/2006