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THE US Treasury Department has forbidden US citizens to do business with 20 Hong Kong shipping companies, which formed the bulk of 26 on the global banned list, for failing to uphold UN sanctions against Iran over its refusal to stop nuclear development. In response, the Hong Kong government said it "will make the relevant subsidiary legislation to desi...
Orient Overseas Container Line, Cosco Container Lines and eight other carriers will come under tougher scrutiny from maritime regulators in the United States within the next two weeks to prevent them abusing their power with exporters and importers. The 10 shipping lines are members of three groups – the Grand Alliance, the CKYH Alliance and the N...
Metal dealers see an adverse impact on their operations following the decision by shipping lines to impose a requirement for a Letter of Indemnity and Deposit on containers, reported Business Times. Metal Dealers Association of Selangor and Kuala Lumpur president Lim Sin Seong described the practice that started in 2008 as grossly unfair and said it wou...
A fight for market share between container shipping lines is denting rates and profits, and a lack of capacity discipline could knock earnings below current estimates, shipping consultants Drewry said. The global shipping industry rebounded in 2010 from a dismal year in 2009 when the economic crisis hit trade, cargo volumes and freight rates. But Dr...
Singapore: Yangzijiang Shipbuilding racked up $415.3m in bulker orders in the last three months of 2010. The Singapore-listed, Chinese shipbuilder inked contracts for 15 bulkers to be delivered between 2011 and 2013. The new contracts secured comprise three 47,500 dwt bulk carriers, four 49,500 dwt bulk carriers, a pair of 7,600 dwt bulk carriers and six 82...
Tokyo: Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the company has established a Ship Energy Efficiency Management Plan (SEEMP) and started its use with the MOL tanker fleet. The SEEMP provides the most efficient vessel operation method (optimum route selection, appropriate maintenance, and so on considering slow steaming, ocean currents, and weath...
CANADA's largest railway of Canadian National (CN) has launched EcoRide, a new container chassis expected to reduce fuel consumption in trucking of containers to and from its intermodal terminals by eight to 10 per cent. The EcoRide chassis is developed in collaboration with a Canadian supplier. It uses side skirts to reduce aerodynamic drag, weighs 15...
TAIPEI's Evergreen has divided its intra-Asia service linking Korea and Japan with Taiwan and the Philippines into two loops, according to ComPair Data. Operated with a 1,200-TEU vessel, Evergreen's KTP service is now KTP Loop 1 with a rotation of Hakata, Busan, Gwangyang, Kaosiung and Hakata. The KTP Loop 2 has a rotation of Kaohsiung, Manila and Kao...
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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