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The cost of shipping dry freight has plummeted in the last week, with differing explanations united by a focus on iron ore and China.

At the annual meeting of shareholders of Burevestnik OJSC it was decided to pay RUR 12.742.5 million as dividends for 2007, the plant's release reads. The dividends per one A-type preferred share is to make RUR 135, per 1 ordinary share - RUR 112.14.

The New Zealand government is to pay Australia's Toll Holdings US$521 million for its rail and ferry business in New Zealand.

The Korean government is drawing up counter-measures against the truckers' strike expected to begin today.

Korean ports nationwide came to a standstill as the truckers' strike over high fuel prices entered the fourth day.

Maersk Line, the container shipping arm of Danish oil and shipping group A.P. Moller - Maersk, has signed a 10-year contract to use the Hutchison Ports' Trinity Terminal at the UK port of Felixstowe, on the North Sea coast.

Hong Kong's ports saw a 1.6 percent rise in container throughput in May year-on-year to 2.1 million TEUs.

Some 15,000 containers filled with export and import cargo approximately worth US$349.2 million are stuck at the Jawaharlal Nehru Port Trust (JNPT) in Mumbai as protesters from the Gujjar community have blocked rail lines in Jaipur and adjoining areas.

Busan Port, which accounts for 80 percent of the country's container cargo, was virtually paralysed yesterday as a strike over skyrocketing fuel costs by the Korean Transport Workers' Union (KTWU) entered its fifth day, following the breakdown of talks with the government.

South Korea's unionised truck drivers continued their strike for a sixth day as union representatives rejected the government's proposals to end the standoff.

Dubai-based port operator DP World is to acquire a 60 percent stake in Contarsa Sociedad de Estiba (Contarsa), a privately-owned company that holds the exclusive concession for Tarragona container terminal in northern Spain.

There was relief for most US ports in April as containerised import volumes recovered after tumbling in March but the year-on-year trend remains bleak, showing continuing decline in imports in line with US consumer spending.

China Shipping Container Lines (CSCL) has agreed to purchase eight 4,250 TEU vessels for US$559.84 million payable in US dollar in five equal instalments.

World Customs authorities are urging the United States to repeal or scale back a new law that will require foreign ports to screen all containers before they are shipped to the US.

Containers piled up at Busan, South Korea's major port, and cargo loading and unloading at the smaller port of Gunsan was suspended while container traffic dropped 20 percent at Pyeongtaek Port today as 4,000 truckers stopped moving containers ahead of a general strike called for tomorrow.

Thousands of South Korean truck drivers today joined a strike launched yesterday to protest against surging oil prices, threatening to paralyse the country's major seaports and cause severe losses to exporters.

Greece's Piraeus Port Authority has selected China's Cosco Pacific as the provisional winner of the tender for the concession to manage two of its three container wharfs.

Tanjung Priok, Indonesia's busiest port, has started relocating containers at its yard in the wake of congestion, triggered by heavy traffic flow.

The Grand Alliance has added a ninth 6,200 TEU vessel to its Japan-North Europe Service (EU1), in a bid to reduce emissions and increase service quality.

The European Council has cleared AP Møller¡¯s acquisition of a 30 percent stake in a container terminal under construction in the German port of Wilhelmshaven.