China replaces US as Chile's biggest export destination

China replaced the United States as Chile's biggest export destination in 2007, citing statistics of Chile's customs authority.

Statistics show total export value of Chile rose 14.7 per cent to US$65.484 billion, and exports to China came to $10.172 billion, accounting for 15.5 per cent of the total, the report said. Meanwhile, China also surpassed Argentina and Brazil to become Chile's second biggest import source after the US.Entrepreneurs in Chile attribute the rapid growth of Chile-China trade to the bilateral free trade agreement which came into effect in 2006.Cristian Garcia Lorca, chairman of the Chile-China Trade Association, said there is still room for an increase despite the rapid growth, and that Chile should make collective efforts to diversify the country's exports to China.

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Evergreen and Maersk enter into slot swap deal on Asia-Europe trade

Maersk Line and Evergreen have agreed to exchange slots on two services in the Asia-Europe trade starting next month, according to statements from the two shipping giants.

Under the deal, Maersk will take space on Evergreen's China-Europe-Mediterranean (CEM) service, while the Taiwanese line will gain slots on Maersk's AE2 service.The March 6 westbound departure of the Ital Contessa from Kaoshiung will kick off the deal on the CEM run while the joint AE2 arrangement will start March 9 with the Grete Maersk's sailing from Busan.On the AE2 service, the rotation will be Busan, Kwanyang (South Korea), Dalian, Xingang, Qingdao, Shanghai, Bremerhaven, Rotterdam, Felixstowe, Tangiers and Salalah (Oman).On the CEM service the rotation will be Kaohsiung, Ningbo, Shanghai, Yantian, Hong Kong, Tanjung Pelepas, Le Havre, Hamburg, Rotterdam, Thamesport, Port Said and Tanjung Pelepas.

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Kuwait to Import LNG from Qatar

Kuwait will reportedly start importing between 14.2 to 21.3 million cu. m. of LNG daily from Qatar by sea next year, according to a report found on www.thepeninsulaqatar.com.

Kuwait is rich in oil but short on natural gas. The emirate currently produces around one billion cubic feet of associated natural gas, but that amount is reportedly insufficient to meet increased demand for power plants and water desalination.

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Golden Ocean Group Secures Timecharter

February 6, 2008 Golden Ocean Group secured a time charter contract for its Capesize vessel Channel Navigator.

The 172,000 dwt vessel was fixed out on a five-year contract beginning by the end of April 2009. The daily charter rate is $53,500 less 3.75% commission. Golden Ocean Group on Monday also announced a ten year time charter contract for a Capsize tanker currently under construction at the Zhoushan Jinhaiwan Shipyard in China.

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