In order to provide our customers with the most current information available, the Phoenix News Summary is emailing industry news updates. Our summaries can also be read via our web site, www.phoenixintl.com, on the Industry News page.

Phoenix China Branches, except Hong Kong, will be closed from Jan. 29 - Feb. 04, 2006 for Chinese Lunar New Year Holiday. Many other Phoenix offices and businesses throughout the Pacific Rim will follow similar holiday schedules.

 Steamship Lines are advising their customers that the Union Pacific railroad will increase marine container rates by 10% effective May 1, 2006.

On January 18 th, the European Parliament rejected the second Proposal of the European Commission to regulate market access to port services. Striking dockworkers caused cargo delays throughout Europe the day before the vote.

United bankruptcy exit approved – JOC - The approval Friday by U.S. Bankruptcy Judge Eugene Wedoff removed the final obstacle to UAL Corp.'s targeted exit from Chapter 11 on Feb. 1 after the largest and longest airline bankruptcy ever. Once free of bankruptcy, United intends to spend $400 million on improved operations to be more competitive with its rivals. It has not been profitable since 2000. But United still faces financial pressures, notably steep requirements to pay off its $3 billion in exit financing.

New India terminal awarded – JOC - A consortium including three Chinese companies has been selected to develop an international container terminal at Vizhinjam in India's southwestern Kerala state. A 2005 study found that the Vizhinjam project would bring down the total cost of movement of containers to and from foreign destinations as it expects to wean traffic away from nearby transshipment ports. About 61 percent of Indian containers are transshipped through the foreign ports of Colombo, Singapore and Salalah, adding as much as $200 in costs per TEU.

Our summary articles are compiled from a number of public sources that, to the best of Phoenix’s knowledge, are true and correct. In the event any information provided is erroneous, Phoenix International Freight Services, Ltd. accepts no liability or responsibility.