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LUKoil's net profit calculated to Russian Accounting Standards rose 7.5% to 14.2 billion rubles ($423 million) in the first three months of the year, Russia's largest independent oil producer said on Wednesday according to RIA Novosti. In early April, the crude producer posted a $9 billion net profit, calculated to U.S. GAAP standards, for 2008, down 3....
China said on Wednesday it would allow foreign companies to list on the Shanghai Stock Exchange and develop a greater variety of financial derivatives, elaborating on plans to make Shanghai an international financial and shipping centre by 2020. China will also allow major domestic shipping companies to establish financial leasing companies and let such le...
The Port of Seattle kicked off the 2009 cruise season with a new cruise terminal and expectations for record ship calls. The port expects a record 211 cruise ship calls this year, though the total volume of passengers is expected to fall below 2008's record of 886,000 passengers. The majority of those cruise ship calls will be handled at the port's new ...
In the first quarter of 2009, net profit of Ukraine's seaports increased 4-fold, year-on-year, to UAH 522.386 mln (against UAH 130.654 mln in Q1 08), Minister of Transport and Communication of Ukraine Joseph Vinski said according to the Ministry's press center. Vinski noted that revenues of the seaports increased by 66% to UAH 2.26 bln. Budget revenue s...
China and Peru signed a free trade agreement Tuesday, capping more than a year and a half of negotiations and legal processes. Chinese Vice President Xi Jinping and his Peruvian counterpart Luis Giampietri Rojas praised the deal as a new landmark in bilateral ties. The deal is likely to come into force in early 2010. With the global financial crisis loomin...
Hapag-Lloyd joining a growing list of ocean carriers looking to raise prices on demand-starved European routes, announced rate increases Tuesday for westbound services from the Far East to Northern Europe and the western Mediterranean by $500 per TEU, effective June 15. Maersk Line began posting similar increases in March after drastic cuts in capacity on ...
Hong Kong-listed port operator Cosco Pacific Ltd.said Wednesday its net income for the first quarter fell 34%, as the global economic slump led to an 8% drop in cargo traffic. Net profit fell to $43.4 million from $65.8 million a year earlier. Revenue, however, rose 2.6% to $75.44 million from $73.56 million. Cosco, a unit of state-owned shipping group Cosc...
Privately held Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co Ltd is aiming for an initial public offering possibly in Hong Kong this year, its president said on Wednesday. 'Several stock exchanges such as Singapore and the New York Stock Exchange have contacted us, but personally I prefer Hong Kong,' Chen Qiang, president of Jiangsu Rongsheng,...
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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