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Brazilian iron ore miner Vale SA said it took delivery of the world's biggest ore carrier, a 400,000 tons capacity vessel built in South Korea by Daewoo Shipbuilding & Marine Engineering Co., Dow Jones reports. The new vessel, named "Vale Brasil", is the first of seven ore carriers ordered by Vale from the South Korean shipyard in an investment total...
Global container shipping firms are passing on record bunker fuel costs to retailers, manufacturers and other clients reliant on vessels for exporting their goods, an industry consultancy group said on Tuesday, Reuters reports. Singapore's benchmark bunker fuel price BK380-B-SIN surged to 2-1/2 year highs last month in tandem with a rise in Brent crude f...
About 30 percent of China's coastal shipping companies are suffering a loss due to overcapacity and high fuel price, Xu Zuyuan, vice minister of transport said, Xinhua reports. According to Xu, some 40 percent of the country's inland shipping firms are also suffering a loss. Data from the ministry shows China's cargo handling capacity from major port...
THE Virginia Port Authority (VPA) will likely take over the Port of Richmond administration on July 1 following an agreement in principle to sign a five-year lease with renewal options. Last July, the City of Richmond asked for private sector bidders to take over its underperforming port, but nothing of interest emerged. The VPA says it intends to "aggres...
Orient Overseas (International) Ltd (OOIL) is splashing out $544m on a further quartet of 13,000 teu boxships from Samsung Heavy Industries (SHI). The 13,000 teu containerships are due to be delivered in 2013 and 2014. OOIL said it was currently arranging bank finance for the vessels and about 70% of the $544m order price would be covered by financing. ...
At the 5th Annual International Maritime Awards, presented at ShipTek, ABS received Marine BizTV’s award of Best Classification Society. The occasion marks the second year the society received the award. “Service delivery is paramount to our classification society,” said ABS Regional Vice President, Middle East Region, Joe Brincat. &l...
Seaspan Corporation accepted delivery of the Berlin Bridge, a 4500 TEU containership, from Samsung Heavy Industries Co., Ltd. The new containership is Seaspan's fifth delivery in 2011 and expands the company's operating fleet to 60 vessels. The Berlin Bridge is on charter to Kawasaki Kisen Kaisha Ltd. ("K-Line") of Japan under a twelve-year, fixed-rate...
Emirates Shipping Line has announced the signing of an agency agreement with Taiwan Wallem Transportation Co. Ltd. The new venture caters to the current Middle East, ISC and Africa service as well as other ongoing service opportunities encompassing Taiwan. The appointment of the agency is in line with Emirates’ strategy to expand its international s...
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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