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PRIVATE security contractors shot and killed a Somali pirate in a gun fight that left two skiffs riddled with bullets, raising questions over who has jurisdiction over a growing number of armed security contractors on merchant ships in pirate infested waters. The Panama flagged UAE-owned 2,886 ton Almezaan, with her 17-man crew, was 60 miles south of the ...
ISRAELI flag carrier Zim has announced a weekly service between Far East and east coast of South America from Busan starting mid-April. The eleven 4,200 TEU-vessel loop will link Asian ports to Brazil, Argentina, Uruguay and South Africa. Rotation will be: Busan, Shanghai, Ningbo, Shenzhen, Hong Kong, Singapore, Durban, Rio de Janeiro, Santos, Buenos Aire...
JAPANESE shipping giant Mitsui OSK Lines (MOL) has announced the promotions of its president Akimitsu Ashida, who will become the chairman of the board, and its senior managing executive officer Koichi Muto, who will soon become the company's new president. The new appointments will be confirmed by the board following the annual general meeting of shareh...
Copenhagen: The soon to be launched The Containership Co. has been granted an operating license in China. Franck Kayser, chief operating officer of TCC, said the Chinese Ministry of Transport had granted the company a license to operate liner services in China. The company has also chartered two boxships, the 2,900 teu vessel Champion and the 3,000 teu vess...
Singapore: OCBC Investment Research has suspended its coverage of Rickmers Maritime as debt issues drag on. “In what is essentially a dragged-out and uncertain situation, we do not find offering a rating on Rickmers Maritime productive - as such we are suspending coverage of the trust,” said Meenal Kumar, analyst, OCBC Investment Research said i...
Kuala Lumpur: Malaysian Merchant Marine has admitted the company is insolvent after it defaulted on debt repayments. MMM said it was insolvent as a result of failing to pay RM40.3m in debt owed to Prima Uno Bhd and Malaysian Trustees Bhd after the banks demanded repayment within 14 days. “The company’s existing credit facilities are insufficient...
Member carriers in the Transpacific Stabilization Agreement (TSA) concluded CEO-level meetings in Taipei with a positive but cautious assessment of the Asia-U.S. freight market going forward, forecasting 6-8% cargo growth for 2010. But the lines noted that market conditions remain uncertain in the Asia-U.S. trade, and that revenues are still well below sust...
GERMANY's Hamburg Sud has introduced a transhipment service via its hub in Cartagena, Colombia, for cargo movement between Europe and the west coast of the Americas. Facilitated by an extension of the company's NAWC-Mexico route through Panama, the new service will tie up with Hamburg's existing transatlantic line operated in collaboration with Hapag-L...
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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