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HANJIN SHIPPING has blasted Sumitomo Mitsui Banking Corporation's decision to call out US Marshals to arrest the Korean carrier's containers in the United States and to send officials to "hunt the boxes down wherever in the world they may be". Hanjin said this behaviour was "escalating the situation" and "'causing significant damage to our business",...
HONG KONG's Orient Overseas Container Line (OOCL) has announced a series of changes at its headquarters that affect a number of management positions from August 1. Long time leader CL Ting, managing director, corporate planning, retires after 36 years with the company. He is said to have played a key role in building OOCL into a successful organisation...
DANISH shipping giant AP Moller-Maersk expects it will have a handsome 2008-scale profit this year, much better than it had been predicted - but that's if conditions stay the same as they are today. "The improvement of the container business has been greater than envisaged and the company expects the profit for 2010 will exceed the profit for 2008 whic...
MARSEILLES' shipping giant CMA CGM has announced it is imposing rate increases and peak season surcharges "in response to the strong rebound of volumes and capacity shortages". From July 14, a $250 per TEU and $400 per FEU and 40-foot high-cube container rate increase will be levied on cargo from north west India-Pakistan bound for Europe and the Medit...
A shipping consultant estimated ocean container shipments from Asia to the U.S. at 1.23 million 20-foot equivalent units in June, a 32 percent increase on a year ago driven by Chinese exports. This is a record for June shipments, exceeding the previous high of 1.2 million TEUs in June 2007, Alphaliner, the Paris-based consultancy said, quoting preliminary U...
Freight rates for medium range clean oil product tankers sailing west from Europe have risen sharply this week, ship brokers said. The rise in rates coincides with an up tick in U.S. demand for transport fuels and South American demand for heating oil, shipping sources said. Freight rates for medium range tankers--with a capacity to carry 40,000-55,000 metr...
Anchor Ship Investment Co, Japan's largest ship-fund manager, said it may invest part of a planned 200 billion yen (S$3.16 billion) fund on its first dry-bulk vessels in anticipation of a rebound in Chinese iron-ore demand. The company plans to start raising money for the new fund in September, president Hajime Tsuji said in an interview in Tokyo on Mo...
Rickmers Group has christened four ultra-large container ships (ULCS) of 13,100 teu capacity at Hyundai Heavy Industries (HHI) Ulsan shipyard. Each of the four ships, Pearl Rickmers, Ruby Rickmers, Aqua Rickmers and Coconee Rickmers, has a service speed of 24.3 knots and have been chartered long-term to Maersk Line and will join Maersk’s “E-...
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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