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Media
Orient Overseas Container Line will expand its fleet with four more 13,000 TEU container ships that will be deployed on routes between Asia and Europe, reported the South China Morning Post. Parent company Orient Overseas (International) Ltd has agreed to splash out US$544 million on the ships from South Korean shipbuilder Samsung Heavy Industries. The ...
Wan Hai Lines has started the year with improved earnings due largely to a hefty income from long-term equity investments. The Taipei-listed liner posted first quarter net profit of NT$366.88m ($12.86m), surfacing from a net loss of NT$36.14m in the same quarter last year, it announced. Revenue rose to NT$15.62bn in the quarter from NT$13.28bn in the cor...
Precious Shipping's first quarter results have been hit by a decline in its vessel operating income and slightly lower number of vessels operated. For the three months ended 31 March 2011, the Thailand-based company earned net profit of Baht 108.63m compared to Baht 474.37m in the previous quarter of 2010. Revenue also fell to Baht 741.92m compared to Baht...
Daewoo Shipbuilding and Marine Engineering (DSME) has bagged another drillship order worth $580m to $590m. Vantage Drilling has placed an order for an ultra-deepwater drillship at the South Korean yard, as well as an option for a second vessel. The Tungsten Explorer is due to be delivered at the end of May 2013 and will costs between $580m to $590m in total...
Offshore services firm Otto Marine is currently “aggressively” looking for more orders as its shipbuilding segment took a hit in the first quarter. The Singapore-based firm's shipbuilding, ship repair and conversion segment registered a 66% decline in both revenue and profit in the first quarter to S$86.5m ($70.4m) and S$12.9m respectively. ...
Falcon Energy Group is looking to double its offshore support vessels (OSVs) fleet in the next few years when activities in this sector are projected to pick up strongly, particularly in Asia. Falcon currently operates a fleet of 15 OSVs including nine multi-purpose support vessels. The offshore services support firm acknowledged that its fleet expansion pl...
Costamare has inked an order for five 8,800 teu boxships from Sungdong Shipbuilding and Marine Engineering. The shipowner said the price per ships was similar to the $95m it paid for 9,000 teu ships ordered in China earlier this year. The vessels are due for delivery in the first and third quarters of 2013. Evergreen Marine has taken long-term charters on t...
TOP admiralty lawyer John Cartner, author of The International Law of the Shipmaster, is pressing the UN's International Maritime Organisation (IMO) to allow armed guards on ships to guard against pirates, reports the Maritime Advocate. "I urge shipowners and other stakeholders to bring pressure on IMO to enact these changes. It is an inexpensive and si...
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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