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Media
CARRIERS have expanded capacity faster than the growth in cargo volume and this has led to a fall of transpacific freight rates for 11 weeks in a row, hitting a trough since May 7. The Shanghai Containerized Freight Index (SCFI) average spot rate to the US west coast declined 2.9 per cent to US$2,493 per FEU as at September 17 from the week before, repo...
The RFID tag invented by China is gaining popularity with its widespread use in ports such as Shanghai, Tianjin, Shenzhen, Dalian and Qingdao, and is expected to be adopted as the global norm. The radio frequency identification tag, adopted by the International Standardisation Organisation, is based on an older RFID norm, and was released by the ISO in July...
Most of the shipping lines surprised the industry in the first half of this year by reporting huge earnings, with total operating profits of the 20 carriers reaching $3.78 billlion, according to a survey by Alphaliner, a shipping information platform Seventeen out of the 20 liner shipping companies featured in the Top 30 that publicly report their financial...
Maritime giant AP Moller Maersk will register more than 30 new ships under the Singapore flag, a move that will significantly boost the local shipping industry, analysts said. The new ships will come on stream over the next three years and eventually bring AP Moller Singapore's 77-vessel fleet to above 100 for the first time. More vessels are seeki...
Seoul: Stolt-Nielsen has received $211.3m in refunded deposits for cancelled newbuilding from troubled SLS Shipbuilding. The refunds were progress payments made on six of eight parcel tankers order by Stolt-Nielsen from SLS in 2006 and 2007. Due to extended delays in building the vessels the South Korean yard was unable to meet the contracted delivery dates...
Seoul: Midsize Korean yard Mokpo Shipbuilding has recently filed for a court receivership. The company said, "We estimate our liquidation value stands at KRW 37.4bn ($32.3m) while existence value coming in at KRW 43.7bn." "If court accepts rehabilitation for us and the deadline of debt repayment is postponed, we will try our best to pay the debt and...
London: The global newbuilding orderbook is continuing to decrease and it now stands at 7,495 ships of 474.7m dwt as at September 1st, the lowest level since December 2006 when 7,388 ships were on order. However, the recent surge of new VLCC and suezmax orders boosted tanker orderbook by 2.5m dwt month-on-month, Clarkson Research Services' monthly repo...
Singapore: The Asian Shipowners Forum (ASF) is concerned over the rise in pirate attacks in the South China Sea and calls for governments to take stronger action. The ASF Safe Navigation and Environment committee said it continued to express “grave concern” at the threat posed by piracy worldwide. The committee said it was increasingly concern t...
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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