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Mumbai: The Shipping Ministry is examining if Sagar Island in West Bengal can be developed into a maritime investment region, according to the Union Minister of State for Shipping, Mr Mukul Roy. “In addition to a deep-draft port for which some funds have already been allocated in the Union Budget for 2010-11, we are also planning a modern shipbuilding...
SWEDEN-headquartered Stena Line is in the firing line once more with the Rail and Maritime and Transport Union (RMT) following its North Sea chief Pim De Lange comments on British seafarers being "quite fat and covered in tattoos" fuelling the union's ongoing campaign over crew rates. RMT head Steve Todd said the comments were "appalling, abusive and d...
JAPAN's Kawasaki Kisen Kaisha, Ltd. ("K" Line) continues to be a member company of the FTSE4Good Global Index, the leading SRI (Socially Responsible Investment index calculated by FTSE Group (independent company jointly owned by UK newspaper The Financial Times and the London Stock Exchange. This index is reviewed twice a year and "K" Line has been a c...
MITSUI OSK Lines Ltd (MOL) has announced that the Japanese shipping company has once again been selected for inclusion in the major socially responsible investing (SRI) indices, namely the Dow Jones Sustainability Asia Pacific Index (DJSI Asia/Pacific) and the FTSE4Good Global Index. This comes after the FTSE Group, a joint venture between the Financial...
MORE of the story of the US Marines successful boarding and retaking of a containership captured by pirates off Somalia on September 9 is emerging, reports Strategyworld.com of Provo, Utah. The 730-TEU Magellan Star, out of Bilboa bound for Singapore, and her 11-man crew were rescued in the Gulf of Aden after being seized by Somali pirates. First, t...
THE Westbound Transpacific Stabilisation Agreement (WTSA) has formed a 16-member advisory board to solicit opinion from freight forwarders and shippers, said a statement from the group, often regarded as a quasi-conference and now subject to the scrutiny of US regulators and politicians. The WTSA stressed that commercial terms will be decided by individ...
AP MOLLER MAERSK, which owns the world's largest container shipping line, has announced the completion of a US$6.75 billion syndicated revolving credit facility with a group of 20 banks. According to a statement from Maersk, the company arranged the facility to refinance a $6.5 billion debt maturing in 2012 with 28 banks. The Danish shipping giant ...
GERMAN travel giant TUI, which owns 43.3 per cent of Hapag Lloyd, has announced that it will go ahead with a refinancing plan, which involves giving back the container line's unused state loan guarantee, reports Dow Jones. The decision will allow container line to secure new funding and pay down debts, with a bond issue to raise US$500 million to repay...
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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