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Media
TRANSPACIFIC start-up The Containership Company (TCC) has posted first half net loss of US$3 million for its first six months of operation. TCC said the "outlook for box rates in the Pacific trades is uncertain due to significant new capacity coming into the market causing cargo volumes out of Taicang also to be more volatile. "Supply of new capacit...
Despite the amount of positive thinking prevailing among those involved in the Asia-Europe trade that the so-called recession is in the past, there are mixed feelings as to whether the lines actually got it right and the market rebound has been as strong as predicted. There are already suggestions that the fourth quarter will see a cut in ship capacity ...
Three foreign shipping companies have stopped their operations at Belawan port, North Sumatra, over the past two years following the high congestion rate at the port and a decline in export productivity in the region, reported Bisnis Indonesia. The three companies consist of two Taiwanese companies, which have been out of operation since August 2010, an...
Asian and global shippers, the manufacturers and product suppliers that stock the world's store shelves, are midway through a three-day annual meeting seeking ways to rein in the container shipping lines that transport goods to the world's stores. Some heavy hitters are present, reported the South China Morning Post, including United States Federal Ma...
Singapore: Yangzijiang Shipbuilding has cut how much it will pay for PPL Holdings to $116.3m from $155m previously. The Chinese shipbuilder is seeking buy PPL Holdings from Baker Technologies. PPL Holdings owns a 15% stake in Singapore rigbuilder PPL Shipyard. Instead of the stake being purchased Yangzijiang directly it will be acquired by a new investor Q-...
Indonesia: Japanese tanker has become the 27th vessel this year to be hit by pirates in Indonesian waters in the South China Sea. The chemical tanker Chemroad Luna, owned by Iino Kaiun Kaisha, was boarded by pirates armed with knives close to the Anambas Island at 0300hrs on Sunday morning. The two pirates stole cash from the vessel and then fled the ship. ...
Hanoi: Four more senior officials from Vietnam Shipbuilding Industry Group (Vinashin) have been arrested. As investigation continue into the debt laden state shipbuilder that came close to bankruptcy Vietnam’s Ministry of Public Security said two former board members, Tran Quang Vu and Tran Van Liem, and ex-general directors of two of Vinashin’s...
SWISS-based M+R SPEDAG Group has announced its acquisition of India's PL Shipping & Logistics Pvt Ltd to soon operate under the M+R Spedag Group name. But PL Shipping & Logistics will continue to operate under its name for the next few months, and the initial period will be used to integrate the company. The acquisition helps the M+R Spedag...
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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