Port News

Taiwan, China to launch direct shipping in mid-December Dec 2, 2008

Taiwan and China will hold the last round of consultations next week to prepare for launching direct shipping in mid-December, a newspaper said Saturday. The United Daily News (UDN) said that China's Cross-Strait Shipping Association will send a delegation to Taiwan on December 2 to discuss technicalities of direct shipping with Taiwan's shipping off...

Federal port authority in Vancouver launches billion dollar planDec 2, 2008

The Port Metro Vancouver plans to spend nearly C$1 billion (US$816.8 million) on harbour development in a decade-long plan through to 2018. The federally-owned port has earmarked C$950 million, not including land acquisitions, for the Vancouver Fraser Port Authority, known as Port Metro Vancouver, out of its own resources, for the capital investm...

Piraeus Port posts 9M loss of 0.6 mln eurosDec 2, 2008

The port of Piraeus (OLP), the largest in Greece, posted a nine-month loss of 0.6 million euros ($776,300) on Friday, blaming a continuing industrial dispute. OLP , which made a net profit of about 20 million euros in the same period last year, said full-year results would be in the red if strikes continued over a deal for China's Cosco Pacific  ...

Coal prices fall by 18% in a week at China's largest coal portDec 2, 2008

Prices of steam coal over 5,500 kilocalories fell to RMB 570 per ton on Thursday at China's largest coal port, Qinhuangdao port, representing a sharp decrease of 18% from a week ago, according to statistics from Qinhuangdao Port Group. The slide in coal prices is mainly attributed to the weakening electricity demand from domestic steel makers and...

Helsinki's new port suffers teething problemsDec 2, 2008

  Helsinki's Vuosaari harbour has suffered teething problems throughout the first week of its operation, STT reports according to RZD-Partner. Lorries have been forced to wait for up to several hours, with queues at times stretching from the port to the capital region's outermost ring motorway. The new road tunnel serving the port was closed o...

PetroChina completes foundation work at Dalian LNG terminalDec 1, 2008

PetroChina Company Ltd, the country's largest oil and gas producer, has completed the foundation for storage tanks at its Dalian liquefied natural gas (LNG) terminal in Liaoning province, said its parent China National Petroleum Corp (CNPC) The project, which involves a total investment of RMB 9 billion, is designed to receive 3 million tons of L...

Shanghai port cuts its container traffic target for 2008 by 5%Dec 1, 2008

Shanghai, the world's second largest container port after Singapore, has cut its container traffic target for 2008 by 5% due to the global financial crisis, China Daily reported. The port reported its container volume rose over 20% to 26.15 million TEUs in 2007. However, due to the ongoing global economic downturn, it has lowered its total contai...

Russian Railways issues bonds for RUR 15 billion Dec 1, 2008

On 26 Nov, 2008, Russian Railways issued 7-year semi-annual non-convertible Series 11 bonds for 15 billion roubles. The bonds were placed in full on Moscow’s MICEX Stock Exchange by public subscription. The rate on the first coupon was 13.5%. The bonds carry a put option for early redemption after 18 months. The issue was managed by Vneshtorgbank, Gazp...

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