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Orient Overseas (International) Ltd (OOIL) and its subsidiaries have reversed the losses of 2009 to post a profit of $1.87bn last year, the group announced Monday, Seatrade-asia reports. The Hong Kong-listed firm swung back into the black after a loss of $402.3m in 2009, while revenue also improved to $6bn last year compared to $4.4bn in the previous year. ...
The Carlyle Group and Tiger Group Investments Partner with Seaspan Corporation, the Washington Family, Gerry Wang and Graham Porter have formed a joint venture to acquire more than $5bn in container, dry bulk, tanker vessels and other shipping assets. The move was made to capitalise on increasing demand in the shipping sector, a statement from investment fi...
Vietnam National Shipping Lines (Vinalines) has requested the Prime Minister to look into upgrading the current construction of Van Phong International Transit Port in central Khanh Hoa Province to handle container ships with capacity of 12,000 twenty-food-equivalent units (TEU). Duong Chi Dung, Chairman of Vinalines, disclosed on March 13 that a proposal b...
As of 8:00am (MT), March 15th, there are 97 cargo ships waiting for icebreaker assistance in the eastern Gulf of Finland, the Port Authority of Big Port St. Petersburg said. The St. Petersburg PA reports of total 137 merchant ships currently located in the water area, 18 of them - in motion. Over the past day 22 ships reached the entrance buoy of St P...
At least six Japanese seaports handling international trade sustained major damage from last week's earthquake, with most seen out of operation for months, disrupting global supply chains and causing billions of dollars in daily losses, industry and port officials said. Japan has begun assessing the damage to port infrastructure, vital to receiving aid, ...
The race for control of Penang Port is heating up, reported The Edge Malaysia. In addition to the current proposals by tycoon Syed Mokhtar Al-Bukhary and Oriental Pearl Harbour – a consortium led by Siew Ka Wei – two foreign parties have joined the fray to take over the port, sources say. One of these is DP World, one of the world’s la...
THE American Trucking Associations (ATA), representing independent owner-operators, has condemned the re-introduced the Clean Ports Act, which stands to make the life of independent truckers more difficult if not impossible. New York Democratic Congressman Jerrold Nadler has re-introduced the bill, after it slipped off the order paper with November mid-te...
THE Port of Tianjin has announced its throughput target for 2011 - 11.5 million TEU as well as its overall cargo volume target of 430 million tonnes, Xinhua reports. Last year, the port achieved a throughput of 400 million tonnes. In the past five years, Tianjin port's navigation channel capacity was raised from 150,000 tonnes to 250,000 tonnes while b...
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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