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Media
CONTAINER freight rates in Malaysia's domestic market have almost returned to pre-global crisis levels, according to Wilhelmsen Ships Service managing director Winston Loo. "This is driven by a combination of space demand and shortage of container equipment," he was quoted as saying in a report by the Malaysia Star. "Compared with the previous year...
INCREASING demand for container business lifted the profit of AP Moller-Maersk Group to US$2.52 billion in the first half year on year drawn on 20 per cent more revenue of $27.4 billion. The group forecast net full-year profit to exceed $4 billion. Meanwhile, Maersk Line recorded $1.3 billion in operating profit in the first half as revenue grew 32.8 pe...
AP Moller-Maersk expects profits to beat US$4 billion this year, buoyed by a 20 percent growth in revenues in the first half primarily from higher freight rates and volumes for the group's container shipping activities. The Danish shipping giant reported net profit of $2.5 billion in the first half compared to a $500 million loss in the same period of ...
Maersk Line will save 15,000 tonnes of fuel and reduce CO2 emissions by 45,000 tonnes each year, thanks to improvements in the design of 22 new container vessels. Maersk Maritime Technology was able to increase the vessel’s efficiency by 5.2 percent by testing and implementing an alternate design for the bulb – a bulbous-shaped piece on the ...
Hong Kong: China Shipping Development Company has inked contracts for 14 dry-cargo newbuildings worth over $420m. Shanghai and Hong Kong-listed CSDC says it has ordered a dozen 46,200-dwt bulkers and a brace of 53,000-dwt ships via two subsidiaries. In a statement to the Shanghai exchange it says the first 12 bulkers, booked by Shenhua Zhonghai Ship...
Shanghai: China Eximbank and Jiangsu Rongsheng Heavy Industries Group signed a landmark strategic cooperation agreement this week which saw the yard gain $7.3bn in credit. It is the largest sum ever in Chinese shipbuilding industry. In witness of the ceremony, Vice Governor Zhao Kezhi of Jiangsu Province and Chairman Chen Qiang of Rongsheng were present...
Singapore: Keppel Shipyard has a bagged a S$50m modification contract for a floating production storage and offloading unit. The contract is for the modification of FPSO OSX-1 is owned by OSX 1 Leasing B.V. and includes procurement, detailed engineering and the modification of the topside process modules. Keppel Shipyard will work with BW Offshore, which wi...
THE Panalpina Group has announced an EBITDA loss of CHF64 million (US$61.3 million) in the second quarter. This is due to a CHF128 million provision to cover potential fines and compliance consultancy costs related to the company's alleged violations of the US Foreign Corrupt Practices Act (FCPA) and US antitrust laws. Excluding this provision, EBITDA ...
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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