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THE US Coast Guard was preparing to restrict vessel traffic at the Port of New Orleans as Mississippi floodwaters headed south raising water levels to 17.5 feet (5.33 metres), and ready to ban it they hit 18 feet (5.48 metres), and close the port entirely at 18.5 feet (5.63 metres). Over the weekend, water levels were at 17 feet, high, but not high enoug...
MAERSK Line and Safmarine have extended their Far East-West Africa FEW2 loop to China and Korea and the following ports of calls are added: Xiamen, Fuzhou, Busan, Shanghai, Ningbo and Nansha. The upgraded loops will be served by Maersk's new WAF-max ship 4,496-TEU vessel which replaces the 3,500-TEU one. The first sailing will sail from Busan on May 23...
The slump in container markets saw Neptune Orient Lines (NOL) slip back into the red in the first quarter. Having bounced back strongly in the second half of 2010 with a $416m full year profit, NOL found itself back in negative territory in the first quarter of this year. The Singapore-listed firm reported a $10m loss for the first quarter of 2011 on revenu...
Dry bulk shipping firm Courage Marine has plunged into the red in the first quarter year-on-year due to continuing poor market conditions for dry bulk rates and lower fleet utilisation. The Singapore-listed firm announced net loss of $2.27m in the period ended 31 March 2011 compared to net profit of $3.58m in the previous quarter of 2010. Revenue also plumm...
India-based Mercator Lines has warned that its earnings would be affected by the continuing weak global dry bulk market, given that growth may not be strong enough to absorb an oversized order book. “Based on the present order book the existing fleet size is expected to grow by around 35-40% in 2011 and 2012. Even if we consider scrapping of around 10...
A major shipping company that carries goods to Hawaii from the US mainland plans to raise its fuel surcharge to a record 47.5 percent next month, reported Associated Press Newswires. Citing recent high fuel prices, Matson Navigation Co plans to raise its fuel surcharges by four percentage points. The surcharge is to rise from 45 percent to 49 percent for ...
A day after the Madras high court ordered the shifting of coal and iron ore handling operations from the Chennai port to the Ennore port, sources in both ports expressed concern over the practical difficulties in implementing it, reported The Times of India. A senior port official said they could go in for an appeal as the shifting would affect the Chenna...
FRENCH box carrier CMA CGM is in talks to dispose of its 49 per cent stake in Malta Freeport Terminals three years from renewing a 65-year lease with the Maltese government. The indebted Marseilles-based shipping giant needs money for debt servicing and hopes to sell its stake before the end of June when obligations must be met, reported Malta Today. CMA...
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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