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Excess capacity, a slowdown in restocking and shippers resisting rates increases will make 2010 a tough year for the container shipping industry, said Orient Overseas (International) Limited's Ken Cambie in Hong Kong today. "The degree of uncertainty for the second half we don't think should be underestimated," was the grave warning from OOIL's chief f...
JEAN Louis Cambon, European Shippers' Council's new Maritime Transport Council chief, rebuked carriers for capacity cuts and slow steaming in his inaugural address on taking up his new post. "This has to be one of the few sectors that believes it can reduce quality while increasing prices and expect customers to blame it on carriers' misfortunes," he s...
Singapore: Golden Ocean has become the first company to dual list on the Singapore Exchange under a cooperation with Oslo Bors. The John Fredriksen owned company completed its secondary listing on SGX on March 18. The listing was by way of an introduction and no new capital has been raised at this time. “We are very pleased to be the first company to ...
Taipei: Taiwan's Evergreen Line is talking to yards at home, in Korea and Japan to buy as many as a dozen new boxships of between 7,000 and 8,000 teu in size. "Evergreen is discussing with Japanese, South Korean and Taiwanese shipyards," a local quoted company vice president Hsieh Chih-chien as saying earlier this month. "They will quote prices to Evergr...
Hong Kong: Orient Overseas International Limited, parent of containerline OOCL, reported full year results heavily in the red today, but still performing better than its peers. The Hong Kong containerline recorded a 2009 net loss of US$402m, compared to 2008’s $114m net profit. While the second half was far stronger than the first six months results...
Singapore: Norwegian classification society Det Norske Veritas (DNV) has established a Clean Technology Centre (CTC) in Singapore and has selected the city state over the likes of Shanghai and Hong Kong to become the hq for its sprawling Asian operations. The facility at the DNV Tech Centre in Science Park has a staff strength of 25 research engineers and...
The French Port of Marseilles Fos said container throughput rose by 24 percent year-over-year in January and February to 159,202 20-foot equivalent units as trade recovered from the global recession. Trade with the Far East fueled a 30 percent jump at Fos, which handled 121,218 TEUs, while Marseilles improved 10 percent to 37,985 TEUs thanks to recovering...
According to the German travel industry association DRV, the number of passengers on sea cruises by German operators grew 13.2% to more than 1mn in 2009, which is three times the number 10 years ago. Turnover grew 14% to just under EUR 1.93bn (USD 2.66bn). DRV expects the market to continue to grow at a double-digit rate in 2010. Partly because of insolven...
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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