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SHIPPING lines need to prevent a glut of tonnage overwhelming the market and slowing global recovery, warned senior executives from China's major ocean carriers, in the course of announcing their own positive quarterly results in Hong Kong. Speaking to reporters, reported Bloomberg, China Cosco Holdings executive vice president Sun Jiakang said: "We ca...
SINGAPORE's Neptune Orient Lines (NOL) has ordered two 10,700-TEU ships to be built at Korea's Daewoo Shipbuilding and Marine Engineering, reports Singapore-based Logistics Week. NOL said the order is part of a 12-ship order worth US$1.2 billion placed last month with the vessels adding to a series of eight similar size ships to be delivered in 2012. ...
COSCO has doubled its throughput in Rotterdam this year, discharging 80 per cent of its total in the Dutch port while its volume through Hamburg fell to 20 per cent, reported the Berlin daily Die Welt. Cosco president Wei Jiafu told a recent Chinese-German economic conference in Xian that the River Elbe through which ships go to Hamburg must be dredged ...
SINOTRANS Guangdong, a subsidiary of Sinotrans CSC Group, recently launched the Wuzhou corridor for fireworks shipments, where it plans to build a hub for handling explosive cargo. The trial shipment of four FEUs was loaded at Wuzhou Lijiazhuang Terminal on August 16 for transshipment to Thailand and the UK through Hong Kong. Sinotrans has invested ...
MARSEILLES' CMA CGM Group has taken delivery of the 13,830-TEU CMA CGM Corte Real built by Daewoo Shipbuilding and Marine Engineering in South Korea, the third in a series of eight vessels of similar size. CMA CGM's Corte Real is 365 metres long, 51 metre wide and has a 15.5 metre draught, making her the largest vessel sailing under the UK flag. T...
HONG KONG's TS Lines plans to add a direct Japan-Philippines service, following the restructuring of two of its existing intra-Asia loops. As a result, the existing JTK-1/JTK-2 loops will be replaced by new JTK-1/JTK-2 loops, deploying eight ships, with four per loop, instead of the six ships used currently. A report by Alphaliner said the new rota...
INDICATIONS that "the market may be starting to turn" and carriers' hopes of guaranteeing post peak season cargo are reported as the reason for the recent drop in the Shanghai Containerised Freight Index, which tracks freight rates from Shanghai to 15 trades. The index fell 13.46 points to 1,513.60 in the week ending August 20 over the previous week. A...
THE China Shipping Container Lines (CSCL) has declared a 134.3 per cent increase in first half net profit to CNY1.17 billion (US$172.03 million), reversing a CNY3.41 billion net loss in the corresponding period last year. Profit attributable to shareholders was drawn on a 79.5 per cent increase in revenue to CNY16.02 billion against last year's first h...
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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