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The shipping sector is showing first signs of revival. Traffic handled at the 12 major ports in the country has seen a 1.17% increase at 1.80 lakh thousand tonnes during the April-July period compared with the same period last year where it stood at 1.78 lakh thousand tonnes. Besides, container movement volumes have now begun to show some momentum upwards. ...
An empty Panamanian oil tanker sank near the southern entrance of Egypt's Suez canal on Friday as it headed to dry docks for maintenance, maritime sources said. The sources added that the sinking of the ship, which they identified as the "Elli", had not disrupted normal shipping through the busy trade route. The vessel had a capacity of 59,000 tonnes but...
Leaders of the Amirabad port in northern Iran banned two vessels carrying petroleum products, to dock at the port. They claim that the oil company owed the Customs Administration $110 million, the Mehr news agency reported. According to the Fars agency, the ban was imposed on four ships, three of them with oil and one with oil-related products. The conflict...
Container port operator DP World and Brazilian company Odebrecht have jointly acquired a majority stake in Embraport, a private Brazilian port terminal, which is under construction in Santos. Financial details of the deal were not disclosed. Coimex Group, the developer of the terminal, will reduce its shareholding, but remain a key member of the partners...
While other shipping companies pull back on new vessel building, Crowley Maritime Corp. plans to spend $800 million on its fleet over the next five years. The move reflects the confidence of the Jacksonville company, which hasn’t experienced the cargo slump that many trans-Atlantic shipping companies have felt in recent months. The new fleet will al...
Cosco Pacific, the largest mainland port operator, said it will further expand its overseas terminal networks and increase its controlling rights in terminals even after posting a 31.8 percent decline in net profit in the first half. The company also announced it entered into an agreement to sell 49 percent of its wholly owned subsidiary, CP Logistics, to...
AP MOLLER-MAERSK Group CEO Nils Andersen has declared he will not allow rivals' price cutting to take market share from Maersk Line, the world's biggest container shipping carrier. "We're ready to fight it out on prices," Mr Andersen told the Danish newspaper Dagbladet Borsen. "However, we don't believe it serves a purpose in a market in which there i...
CONTAINER shipping lines RCL and Hapag-Lloyd are reported to have joined together the Singapore-Qingdao Express service (RKQ) and the Singapore-Shanghai Express service (the former RSQ), to offer a new Singapore-Qingdao Express service (the new RSQ). The "new" RSQ service will deploy three container ships, ranging in size from 2,700-3,300 TEU, reports AXS...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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