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KUWAIT's Gulf Bank will provide US$140 million loan to the United Arab Shipping Company (UASC) towards equipping and purchasing nine 13,100-TEU newbuildings. Last February, UASC borrowed $302 million to buy the remaining three of these mega ships on order from Samsung Heavy Industries. The Kuwaiti shipping line also borrowed $1.1 billion last year to ...
MEMBER carriers of the Asia New Zealand Discussion Agreement (ANZDA) have announced an increase in the bunker surcharge to US$700 per TEU and $1,400 per FEU for dry and refrigerated containers from June 1. This applies to cargo between Japan, Korea, mainland China, Hong Kong and Taiwan in north east Asia and Singapore, Indonesia, Malaysia, Philippines, T...
HONG KONG and Shanghai listed China Shipping Container Lines (CSCL) has revealed first quarter net losses have narrowed year on year, attributed to non-operating revenue grow, reports Dow Jones, adding that sales dropped 1.6 per cent to CNY6.53 billion from CNY6.63 billion in the same period. CSCL, China's largest container shipper - the eighth biggest ...
JAPAN's big three container shipping companies "K" Line, MOL and NYK, posted good results at the end of their shared fiscal year of 2010, ending March 31, all declaring profits, and two erasing losses suffered in the downturn of 2009. The biggest Japanese carrier, ranked 11th in the world, Mitsui OSK Lines (MOL) posted a year-on-year 358 per cent net pro...
Hyundai Merchant Marine, Korea's number two carrier, said yesterday it posted an operating loss in the first quarter due to changes in accounting standards and less demand for container shipping. The loss came to US$22.3 million in the January-March period, compared with an operating income of 6.2 billion won a year earlier, the company said in a regula...
JAPAN's "K" Line has acquired a further 50 per cent stake in Germany's heavy lift specialist SAL Group (Schiffahrtskontor Altes Land) to take on full control as of June 30, following its acquisition less than four years ago in a 50 per cent stake. It previously shared ownership with the Heinrich family management who founded the shipping company in 1980...
CHINA Shipping Container Lines (CSCL) has received its second in a series of eight ships of 14,074 TEU from Samsung Heavy Industries valued at US$170 million per vessel. The carrier will deploy the CSCL Venus on its Far-East Europe route of AEX 1/CEM to join CSCL-Evergreen, according to Paris-based Alphaliner. The vessel is classed as a "neo-overpanamax...
THE Asia-Europe route is already generating operating losses as the slim US$146 per TEU profit has now been eaten up by rising bunker costs alone, says London's BoxTradeIntelligence, analysing Maersk Line data. According to the agency's latest analysis of Maersk's bunker surcharges in the fourth quarter of 2010, based on an average price of $471 per t...
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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