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SINGAPORE's Asian Shipper Council believes container shipping's boom and bust cycle is exacerbated by cartel arrangements which encourage over-investment in new vessels, reports the UK's IFW (International Freighting Weekly).. In the past five years the lines have made massive profits out of the trade boom, council chairman John Lu told IFW. These prof...
NYK Line and the Container Corporation of India Ltd (CONCOR) are to start a rail service for containerised auto transport in a 50:50 joint venture, said an NYK press statement. Trial rail services will be started from Delhi and Chennai. New services will later be started from three other major centres in the north, south and western India. The rail serv...
APM Terminals, the terminal operating arm of AP Moller-Maersk, plans to join French Bollore Group in building a deepwater container terminal in the Republic of Congo (Brazzaville). "APM Terminals will be a minority shareholder in the Congo Terminal which achieves our goal of participating in the market growth of the Congo and Central Africa,said ...
Dry bulk shipowners' group Intercargo has warned that the practice of breaking legally binding contracts has become widespread since the onset of the global recession and that it will backfire on charterers. In its latest newsletter Intercargo says that market corrections, including the scrapping of an estimated 53 bulkers since 1 January a...
MALAYSIA's MISC Berhad will quit the Grand Alliance on January 1, and in doing so will abandon its Asia Europe trade to its consortium partners NYK, Hapag-Lloyd and Hong Kong's OOCL. This was revealed in a filing to the Kuala Lumpur stock exchange, in which MISC said it would withdraw Asia-Europe to focus on developing intra-Asia trades in...
In January-April 2009, throughput of Vanno port (Primorski Territory) fell by 16.1%, year-on-year, to 1.874 million tonnes of cargo including 588,300 tonnes of cargo handled in April (+9.9%, year-on-year, the company reports). In January-April 2009, transshipment of export cargo totaled 939,200 tonnes (-13.7%, year-on-year), import – 4...
In 2008, net profit of Novolesexport OJSC increased 2.5 times to RUR 88.441 mln, the company states. In the reported period, earnings of Novolesexport increased by 52% to RUR 1.328 bln mainly due to a 33-pct increase of cargo transshipment to 3.465 million tonnes. Novolesexport OJSC is a multi-purpose port located in Novorossiysk, Russia's ...
In January-April 2009, Commercial Seaport Yuzhny handled 6.65 million tonnes of cargo (-7.6%, year-on-year), Ukrrudprom reports. In April the company handled 1.97 million tonnes of cargo (-1.7%, year-on-year). In the 4-month period the port handled 277 vessels and 62,030 open-top wagons; in April - 70 vessels and 15,700 open-top wagons. &n...
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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