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COSCO told Dow Jones that it was negotiating to buy a major stake of the new Kaohsiung container terminal developed by Yang Ming and the Taiwan government. If the deal goes through, it would be the first time a Chinese state-owned corporation bought a share of a major Taiwan enterprise. "The deal, if completed, would be done by our port investment a...
Singapore: Cosco Corporation, the Singapore-listed shipyard and dry bulk shipping arm of China's leading shipping company, reported a third-quarter net profit of S$55.1m, up 146% over the corresponding 2009 period. The increase was attributed to higher revenue from shipbuilding and better dry bulk charter rates. Turnover was up 27% to S$952.7m. T...
New York: Ship Finance International Limited (SFL), owner of some 60 vessels which is listed on the NYSE, has announced new time-charters for the four remaining 34,000dwt Handysize bulk carriers it has under construction in China. The vessels will be chartered to a large privately-owned Chinese industrial conglomerate at a net rate of approximately $14,000/...
Mumbai: The government yesterday approved amendments to its merchant shipping act to bring rules in line with the international convention for removal of wrecks, as India will be acceding to the convention soon. "The Cabinet yesterday approved the proposal to accede to the Nairobi International Convention on the Removal of Wrecks, 2007, and to proceed with ...
London: The position of London as the world's top shipping hub is being challenged by emerging contenders such as Singapore and possibly Shanghai as Asia's relative economic prospects compared to Europe have improved since the post-2008 downturn, writes Reuters in an analysis piece compiled in London and published today. The article cites a number of ...
Seoul: A couple of bribery scandals have rocked Korea’s shipbuilding industry. 15 executives at two shipbuilding companies, Hyundai Samho Heavy Industries and Daehan Shipbuilding, were booked Thursday on suspicion of accepting bribes to the tune of hundreds of million won. 12 executives and staff members of Hyundai Samho and three at Daehan ar...
Shanghai: COSCO Shipping has signed up for a total of eight heavy lift newbuilds in the past week. On the evening of October 31st, COSCO Shipping signed a contract with Nantong COSCO KHI Ship Engineering Company Limited in Shanghai, to build four 28,000-dwt heavy lifters. On the morning of November 1st, COSCO Shipping signed with Shanghai Shipya...
Dubai: Somali pirates said on Saturday they had received a record ransom of $9.5m for the release of Samho Dream, a South Korean tanker they hijacked in the Indian Ocean in early April this year, Reuters has reported. The VLCC Samho Dream was carrying some $170m worth of crude oil from Iraq to the US when it was hijacked and its crew of five South Koreans a...
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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