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JAPAN's Mitsui OSK Lines (MOL) has confirmed through tests that increasing the output of an engine's auxiliary blower motor allows for continuous operation of a ship's main engine in all load ranges. "Generally, the main engine of an ocean shipping vessel takes air into the combustion chamber using an auxiliary blower for low speeds or low load range...
Japan's Marubeni has agreed to acquire a 49% interest in eight LNG carriers from Bermuda-incorporated BW Gas for a cost of "about" $700 million, the Japanese trading company said Thursday. The eight ships are currently under long-term charter to Nigeria LNG and have been engaged in taking LNG from Nigeria to Europe and the US under long-term sales contract...
A shipping firm accused by the West of being a front for Iran's national maritime company has stopped operating in northern Europe because of "problems" with the European Union, a senior company official said on Wednesday HDS Lines has cut its container shipping service between Europe and the Middle East, confining it to the Mediterranean. "We have sto...
Shares in Danish shipping and oil group A.P. Moller-Maersk fall 2 percent after UBS cuts its recommendation on the shares to "sell" from "neutral" and lowers its target price to 40,000 crowns from 48,000. "That is what is pushing the shares down," Ole Jensen, head of equities at Sydbank says. "They (UBS) are a bit worried about container shipping rates ...
China has established the country's first river shipping exchange in the western city of Chongqing, which will boost the inland city's role as a major transport hub along the Yangtze River, the Ministry of Transport said. Over the next three years, the Chongqing shipping exchange aimed to service half of all cargo shipments and more than 80 per cent o...
The second high-speed container train of Transport Group FESCO, dispatched from the port of Hamina (Finland) through the border station Buslovskaya of Oktyabrskaya Railroad, delivered today the containers with the products of the Finnish pulp and paper industry, at Vostochny Port (Primorsky port.), FESCO press service reported. This is a joint project d...
It is reported that COSCO Shipping predicts its third quarter net profit attributable to shareholders will soar 1,321.57%YoY to CNY 90.59 million. Earnings per share in the third quarter are expected to hit CNY 0.07. The company’s operating revenue in the same period is estimated to grow 28.88%YoY to CNY 1.16 billion. According to the company ...
The South Korean government has decided to ban single-hull tankers as of January 1, 2011. All locally registered single-hull tankers above 5,000 DWT are banned from operations in South Korean waters and all foreign single-hull tankers are banned from the country’s ports. The decision was expected and comes as a result of the 2007 Hebei Spirit cata...
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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