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START-UP Hainan PO Shipping has expanded the capacity of its new Central China-America West Coast Express service (CAE) to south China through the addition of a fifth ship. State-owned Hainan PO first planned to make port of calls at only Ningbo, Shanghai and Long Beach, using four 2,800- to 3,500-TEU vessels. The addition of a fifth ship to the ser...
Ocean container carriers, just back to profitability after last year’s steep shipping downturn, face a return to overcapacity in the coming 12 to 18 months because a projected fourth quarter slowdown in cargo demand will likely continue into next year, an analyst said. Paris-based Alphaliner expects demand growth to fall from about 12 percen...
Seoul: South Korea's STX Offshore & Shipbuilding announced Monday that it had grabbed an order for six tankers. The company said the deal was worth KRW 313.9bn ($270m), which means a per-ship price is about $45m. Delivery is scheduled by the end of June 2013. It did not identify the shipowner, but said it is from Europe. The price indic...
Manila: Magsaysay led Lorenzo Shipping Corporation will replace two to three vessels a year up to 2014. Lorenzo’s fleet include Lorcon Cagayan de Oro, Lorcon Davao, Lorcon Zamboanga, Lorcon Visayas, Lorcon Cebu, Lorcon Manila and the youngest Lorcon Dumaguete. MV Lorcon Dumaguete had its naming ceremony last week, in time for the company’s 3...
Singapore: Container freight rates reported by Neptune Orient Lines (NOL) are just $5 per feu off their 2008 high. NOL reported a 45% jump in average freight rates across all trades to $3,181 per feu for the period 24 July to 20 August, compared to the same four weeks in 2009. The average rate for the last four-week period was just $5 lower highest average ...
SINGAPORE's Neptune Orient Lines' container arm APL experienced weaken volumes in August, signalling a slow-down in trade, or so Paris-based Alphaliner said. But London's Containerisation International took a glass-half-full view, which contrasted with the more lugubrious perspective taken their colleagues in France. Said London's CI: "In its la...
CHINESE and US maritime officials have agreed to work more closely together to deal with issues that could slow US efforts to stimulate exports. The two sides agreed to open a dialogue about regulatory and administrative differences, including fees, affecting maritime shipping, US Federal Maritime Commission chairman Richard Lidinsky said, according to ...
SHIPPING lines are expected to incur slower freight rate growth next year compared to this year, according to a report by HSBC Global Research. The report also said container traffic would to grow 12 per cent this year, but only six per cent next. The bank's researchers also forecasted that average growth in freight rates will be at 17 per cent this ye...
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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