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Japanese shipping giant NYK's first half revenue increased 27 per cent year on year to US$12 billion with net profit hitting $529 million against last year's $361 million loss, the company announced. Operating profit was $1 billion, a contrast to the loss of $456 million that was recorded during the same period last year. This led to a healthy return on...
Supertanker owners are facing the longest stretch of unprofitable rates in 17 years with the supply of new vessels increasing nine times faster than demand for oil, according to Exim News Service. Shipping companies are making barely $3,155 a day for a single voyage, 90 per cent below the $30,900 that Frontline Ltd, the biggest operator, said that it needs...
APL announced a new service linking China, Indonesia, Malaysia, Singapore and Thailand. Called the China Indonesia Straits Service, the weekly routing will densify APL’s Intra-Asia network. “We’re addressing the ever-increasing requirement for direct-call service to key Asian growth markets,” said Jason Wong, Vice President of...
Thirteen Bulgarian sailors who were held locked in an Indian hotel after the owner of their ship failed to reach an agreement with a local businessman, are finally free to return home, the private Bulgarian television channel bTV reported. The crew of the Bulgarian merchant ship Ludogorets will depart from India for Istanbul on October 28 2010.They are due...
Hong Kong-listed Cosco Pacific third quarter net profit increased 149.9 per cent to US$100 million year on year drawn on a 29 per cent increase in revenue of US$107.46 million, according to the Shipping Gazette. The closeness of profit and revenue figures is explained by major gains in financial investments over the period ending September 30 unrelated to...
Safmarine has taken its first of six new 1,053-TEU capacity multi-purpose vessels to be delivered from now till 2013 - two from Jiangsu Sugang Shipbuilding and four from Wuhu Shipyard. "Safmarine's investment in this new tonnage is a clear indication of our long-term commitment to the breakbulk trade to West Africa," said Safmarine's multi-purpose vesse...
Wartsila, the marine industry's leading solution provider, has introduced its Intelligent Combustion Monitoring system for two-stroke diesel engines. The system provides ship operators and owners with significant benefits by providing information that enables operators to optimize vessel engine performance, and to be aware of the condition of components in...
Mercator Lines Limited, India’s 2nd largest private sector shipping company (in terms of tonnage), announced its results for the 1st Half of FY ‘11 ended Sept. 30, 2010. The total consolidated income was Rs. 1,271 Cr. in H1 FY ‘11 against Rs. 854 Cr. in H1 FY ‘10 thus recording an increase of 48 % on YoY basis. The Net Profit was Rs....
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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