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LONDON-based Drewry Shipping consultants recommends against over-confidence on the back of global first quarter results until tangible month-on-month improvements during peak season show real recovery. "The latest container trade data suggests we may have entered a real recovery phase but comparisons with the depth of the recession in 2009 must be treated...
Taipei: Evergreen Line and Coscon have announced that they are to divide the existing jointly operated Far East and South Africa/ East Coast South American (ESA) service to meet market demands. Effective mid-May, the new routes will be the Far East - South America (ESA) service and Far East - Africa Express (FAX) service. "Our customers need services that...
Singapore: A Pan-United tugboat hijacked on Monday night has been found with its crew safe and sound. Pan-United said the tugboat PU 2007 was found early this morning have gone missing in waters off Kuantan, Malaysia late Monday, presumed hijacked. The vessel is now back in Singapore waters. “The board is particularly glad that the nine crew, who were...
Kuala Lumpur: Malaysian Merchant Marine deputy chairman, Dato’ Ramesh Rajaratnam, has launched a second suit against the ailing company. Dato’ Rajaratnam is claiming RM5.63m in relation to his employment contract which was terminated by MMM in a letter dated 4 March, with termination commencing on 16 March. The company said it does not have suff...
Govt takes measure for second time in a month, tells lenders to set aside more reserves to slow inflation MUMBAI - India's central bank raised interest rates for the second time in a month and ordered lenders to set aside more cash as reserves, seeking to slow the fastest inflation among Group of 20 nations. The Reserve Bank of India boosted the three ...
Hapag-Lloyd will implement a general rate increase for cargo moving on its services from the Indian Subcontinent and Southeast Asia to New Zealand. Effective May 1, the planned increase will be $300 per 20-foot equivalent unit. In related news, Evergreen Line will seek a new GRI on the westbound trades from the Indian Subcontinent to Europe and the Medit...
The following are the details for the issuance of COSCO Shipping Co., Ltd.'s 5-year corporate notes: Issuer (full name) COSCO Shipping Co., Ltd. Guarantee unsecured Registered amount RMB600 mln Offering amount RMB600 mln Term 5-year Par Value RMB100 Issuing Rate To be decided by results of bookkeeping Underwriter China CITIC Bank Co., Ltd. CITIC Securities...
As the tax benefits offered by Estonia to ship owners are more modest than in the neighbouring countries, there are few ships registered in Estonia and only ten% of Estonian seamen pay taxes to the Estonian state – approximately a thousand out of nearly ten thousand, LETA/Postimees writes. President of the Maritime Chamber and MP Tarmo Kouts stated th...
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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