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GERMANY's Hapag-Lloyd announced it will raise container freight rates on its services in September and October. Effective September 1, from east Asia (excluding Japan) and Oceania to the Rea Sea ports of Jeddah, Aqaba, Sokhna, Port Sudan and Hodeidah, the increase will be US$100 per TEU. Effective September 15, from northeast Asia, comprising Japan...
German shipping container company Hapag-Lloyd is considering restructuring its debt in order to do without government financial guarantees that restrict dividend payments, the daily Financial Times Deutschland reported. The company is also mulling issuing bonds worth at least US$635 million to gain more financial leeway. Hapag-Lloyd has said it was ...
Shipping operator China Cosco has earmarked US$3.2 billion for capital spending between 2010 and 2013 to pay for new ships it ordered earlier, amid a rebound in the global shipping market, reported Dow Jones Newswires. China Cosco, the listed flagship of state-owned China Ocean Shipping (Group) Co, said it plans to take delivery of 43 container ships wi...
Singapore: Neptune Orient Lines is raising S$280m from a bond issue to part fund its recent newbuilding orders. NOL issuing S$280m in notes bearing interest of 4.65% and due for redepemtion in 2020. DBS Bank has been appointed sole lead bookrunner and manager for the offering. The company said the proceeds from the offering would be swapped into US dollars ...
Singapore: South Korea's Daewoo Shipbuilding & Marine Engineering is continuing to win new orders, albeit of a far smaller design than the yard is accustomed to. DSME president Nam Sang-tae and Singapore's Woodside Holding International Shipping president Roger Hagenes signed in Singapore yesterday a contract to build eight 12,000-cbm ethylene car...
Hanoi: The Vietnamese government is seeking to suspend debt repayments by troubled Vietnam Shipbuilding Industry Group (Vinashin) Deputy Prime Minister Nguyen Sinh Hung told the State Bank of Vietnam to order the suspension until the end of 2011, local media reported. Hung is responsible for the restructuring of Vinashin. The state-owned shipbuilder has deb...
Oslo: Flex LNG is adamant that Samsung Heavy Industries will not cancel a series of high-priced newbuildings despite much speculation on the lack of funding for the project. The Oslo-listed company said it has been given assurances by the South Korean yard that it has no intention cancelling a quartet of LNG floating production storage and offloading un...
MEDITERRANEAN Shipping Company (MSC) recently released a freight rate increase for its southeast Asia and Australia service. The increase will be US$300 per TEU and come into effect from October 1 for service in Indonesia, Malaysia, Singapore, Thailand, Vietnam and Australia. (Source:www.schednet.com)
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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