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Media
Hong Kong: Cosco Pacific, the Hong Kong-listed operator of container ports, last night raised HK$4.67 billion ($601 million) from a successful top-up placement. The deal was launched minutes after the company announced that it has agreed to an acquisition that will increase its effective stake in China's Yantian port at a total cost of $520 million. The ...
MOL announced that MOL and MOL (China) Co., Ltd., donated the equivalent of CNY3 million (US$430,000) to the China Red Cross as emergency aid to the victims of the massive earthquake that hit China's Qinghai province on April 14. "We express our condolences to the victims, and hope that the area will be rebuilt as quickly as possible," said the Japanese ...
SINGAPORE's Samudera Shipping Line suffered a first quarter loss of US$1.5 million after experiencing a similar loss of $1.1 million in the corresponding period last year despite a three per cent increase in this year's revenue of $82.9 million. The company said it was cautious about the year ahead because of idle containership capacity and fresh newbui...
HONG KONG's TS Lines has announced a new China-Australia Express CAX service that will deploy five 21-knot, 2,700 TEU ships that will complete the run from Shanghai to Sydney in 14 days. The company also announced it is considering starting a Taiwan-flagged shipping line and is now recruiting "ambitious and hardworking individuals" to cope with the expan...
COSCO Group has suffered a US$1.1 billion loss in 2009, drawn on revenues of $10 billion, a fall of 48.1 per cent year on year. But the Chinese shipping giant sees recovery ahead led by trade with the developing world and a robust China market infused with stimulus spending. "Asian regions are expected to have a stronger presence in the shipping sector ...
Kuwait Oil Tankers Company (KOTC) plans to enter the field of transferring petrochemical products soon through purchase of between four to eight tankers specially equipped for such cargo, said Chairman of the Board of Directors of Kuwait Oil Tankers Company Nabil Bouresli. Special studies for acquisition of the tankers are currently being reviewed at the Ku...
Danish shipping giant A.P.Møller-Maersk is ready to launch an offensive and invest in new acquisitions if suitable objects emerge in the wake of the financial crisis. According to the group's chairman of the board Michael Pram Rasmussen, Maersk has the financial strength to make acquisitions following several years of cost cutting programmes. Maersk...
- To meet market demand, Evergreen Line and Coscon will divide the existing Far East and South Africa/East Coast South American (ESA) service, which is operated jointly by both carriers. The new routes effective mid-May 2010 will be the Far East – South America (ESA) service and Far East –Africa Express (FAX) service. The new Far East – ...
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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