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OMAN's 9th century ship, the Jewel of Muscat, will soon set sail for Malaysia from Sri Lanka before embarking on the final leg of its journey to Singapore. This historic ship is expected to arrive at Penang on June 5 and Selangor on June 21. The project is the result of collaboration between the governments of Oman and Singapore and is expected to streng...
SIXTY cellular ships accounting for 100,000 TEU have been removed from the fleet since the beginning of the year, far fewer than the 208 vessels of 380,000 TEU scrapped last year. "The rate of deletions is diminishing due to improved employment prospects and as the fleet has been purged of most over-aged units which are the prime candidates for scrapping,...
SEASPAN Corporation, a Vancouver-based owner and charterer of containerships, has suffered a loss of US$36.61 million in the first quarter, down from a profit of $24.21 million in the same period last year. The smaller profit was attributed by the company to the change in fair value of financial instruments which it said resulted in a loss of $65.5 millio...
SINGAPORE's Neptune Orient Lines (NOL) experienced a first quarter net loss that narrowed 60 per cent year on year to US$98 million down from the $245 million same quarter loss suffered last year. But revenue was up 36 per cent to $2.1 billion from $1.5 billion in the same period last year while losses on core earnings before interest and taxes (EBIT) am...
Container shipping and logistics group Neptune Orient Lines (NOL) reported a US$98 million net loss for the first quarter of 2010 (1Q10). The loss was 60% less than the US$245 million loss for the first quarter of 2009 (1Q09). NOL said the Core EBIT loss in the first quarter was US$74 million. Revenue was US$2.1 billion, up 36% from US$1...
The shipyards in Szczecin and Gdynia are going to be tendered again after the European Commission approved another attempt to sell the ailing companies. The Treasury Ministry wants to issue the new tenders in May, according to TVN24. Among the assets for sale are the dry dock at the Gdynia yard and most of the yard in Szczecin. The sale of the yards to...
Swiss-based Mediterranean Shipping Company (MSC) has doubled capacity on its Bremerhaven-St Petersburg feeder service with the replacement of its 1,370-TEU MSC Maria and MSC Malin. The smaller vessels have been replaced by the 2,808-TEU Northern Vitality and the 2,480-TEU MSC Canberra, reports Paris-based Alphaliner. (Source: Transport Weekly)
Germany biggest container shipping line, Hapag-Lloyd, posted a first quarter operating profit of US$17.4 million after a $282 million quarterly loss and a full year loss of $1 billion in 2009, according to the Shipping Gazette. The news came as German travel giant TUI, the Hapag-Lloyd's largest shareholder with a 43.3 per cent stake, announced its own fi...
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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