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MARSEILLES shipping giant CMA CGM, the world's third largest container line, has posted 266.7 per cent first half net profit increase of US$864 million, reversing a $518 million loss in the same period last year. Profit was drawn on first half revenues of $6.7 billion, up 41 per cent on last year's sales of $4.7 billion. Ebita was up 285 per cent to 1...
Allseas’ Solitaire, the world's largest pipe-lay vessel, has started to lay the Gulf of Finland section of the 1,224 kilometer Nord Stream natural gas pipeline in the Baltic Sea, the Nord Stream press release said. Nord Stream's Deputy Director Construction Ruurd Hoekstra and Leo D. Varkevisser, Allseas’ Vice President Projects and Operati...
An empty French oil tanker and a Chinese cargo vessel collided off the coast of China's eastern Zhejiang province on Tuesday, Xinhua News Agency reported. Six people were missing after falling overboard from the Chinese vessel but no oil spill was reported because the tanker, the Flandre, was not carrying oil when the accident occurred at 11:10 a.m., Xinhu...
China COSCO Holdings Co Ltd, the largest shipping company in the country, today announced that it will issue RMB 5 billion in ten-year notes on the interbank market on Sep. 3, sources reported. The company said in a statement that this batch of notes will be issued at face value and the coupon rate. The notes will become tradable on Sep. 7, 2010. 50...
Nippon Yusen KK (NYK) will in mid-September begin offering a weekly non-stop container shipping shuttle linking New York and the Belgian city of Antwerp in nine days, according to Nihon Keizai Shimbun. Nippon Yusen's current transatlantic service connects multiple ports on the East Coast of the US and several European ports. Because stopovers are m...
Argos, the UK high street chain, owned by the FTSE-100 Home Retail Group, is suing A P Moller-Maersk, the world's largest container shipping company, for more than US$13 million for allegedly reneging on a contract. Argo accused the Danish logistics group of reneging on a contract to ship 5,000, 40ft containers from the Far East to the UK in each of 20...
Dalian: China's New Times Shipbuilding has inked a contract to build a pair of 74,000-dwt long-range 1 (LR1) tankers with Norwegian owner Jo Tankers for delivery in early 2013. The same company orderered a similar pair of ships at STX Offshore and Shipbuilding in June. (Source:www.seatradeasia-online.com)
Hong Kong: Emirates Shipping Line has joined the ASEAN–Gulf–Indian Subcontinent (AGI) service launched recently by the consortium of Evergreen, Simatech and OOCL, offering a direct link from Thailand to the Middle East and the Indian Subcontinent (ISC). Emirates will have slots on the service and will serve the Thailand–ISC markets wit...
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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