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Media
ASIA-EUROPE rates have slipped $3 per TEU in a month accompanied by no change in capacity over what was available two weeks ago, according to London's International Freighting Weekly (IFW) space and rates survey. CMA CGM and Maersk Line this week announced they were launching a ten 13,000-TEU ships into the Asia-Europe trade, but CMA CGM said the service...
Bangkok: Shipping companies located in Bangkok are continuing to operate despite the deadly confrontations in the city centre that have left 36 dead over the last four days. Precious Shipping, whose headquarters on North Sathorn Road are located at the heart of what is now known locally as the “warzone”, closed its office on early Thursday eveni...
Singapore: Ship classification society International Register of Shipping (IRS) has opened an office in Singapore that will function as a regional centre for the classification society and will offer a wide range of services. “Singapore is one the busiest ports in the world and with a free market economy and political stability, many shipping compan...
Kuala Lumpur: MISC Bhd is taking a 50% stake in Vitol’s terminal subsidiary VTTI for $735m as the Malaysian company seeks to develop its tank business. The deal to take a 50% in VTTI is subject to price adjustment and on completion of the transaction MISC and Vitol will enter in a shareholders agreement. VTTI owns and operates a network of petroleum p...
Dubai: New outfit Blue Lines from Dubai is not wasting time building up a sizeable fleet. It has just completed a deal with Cido Shipping from Hong Kong to acquire five MR product carriers. The ships are all one or two years old and all cost Cido between $45.5m and $47m each. They have been sold to Blue Lines for $36m each and come with seven or eight year ...
Singapore: JES International Holdings has announced that financially troubled South Korean operator has cancelled one of its two 79,800 dwt ships on order at the Chinese yard. JES has taken the first installment payment as compensation for the cancellation. JES was buoyed last week by the decision from Baosteel to get three 23,000 dwt bulkers built at JES...
Bangkok: Thailand’s Regional Container Lines remained in the red for the first quarter of 2010. The intra-Asia and feeder container line reported a first quarter net loss of THB342m narrowing from a loss of THB711m in the same period in 2009. RCL said the company’s volume’s increased 7% in the first quarter to 600.917 teu. However, the com...
Singapore: SembCorp Marine on Saturday said it will apply for a Singapore court ruling to make its current jv agreement with PPL Holdings "no longer in force." The rig builder also wants to ruling to require PPL Holdings to sell its minority stake in the venture. PPL Holdings last month rejected SembCorp Marine's offer to buy the 15% equity stake the rig...
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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