Mumbai: Indian shipowners appear to be on a vessel acquisition spree, having purchased 27 vessels during calendar 2009, added another eight during the first two months of 2010, and are expecting to buy at least another 25 vessels in the remaining 10 months of the year. Since January 1, companies like Shipping Corporation of India (SCI), Great Eastern Ship...
Shanghai: While most yards endured their hardest 12 months in living memory, one private Chinese yard continued to impress in 2009. Jiangsu Rongsheng Heavy Industries saw operating income soar more than 60% last year to RMB10bn ($1.5bn) as orders continued to flood in. Shanghai Fujang Guohang Ocean Shipmanagement came in for eight 76,000 dwt bulkers, whil...
Seoul: Cash strapped North Korea is making desperate moves to attract foreign investment following its calamitous recent currency redenomination and to make up for the lost income from sanctions. In what some are comparing to China’s market opening and reform measures a generation ago, North Korea has recently announced a ten-year plan to build infras...
Dhaka: Shipbreaking yards in Chittagong resumed full operations on Wednesday after 10 days of protests against stricter environmental regulations of the hazardous industry. The protests ended following a "successful" discussion with the government, the ship breakers said. "We have decided to reopen the yards after a successful discussion with commerce min...
Nairobi: Somali pirates have captured a Saudi tanker and its crew of 14 in the Gulf of Aden. The MT Al Nisr Al Saudi, a 5,136 deadweight-tonne fuel tanker, was seized with its Greek captain and 13 Sri Lankan crew members. Reports said hijackers were demanding $20 million to free the empty ship, which had been returning from Japan to Jeddah. (Sourc...
Nairobi: Somali pirates have captured a Saudi tanker and its crew of 14 in the Gulf of Aden. The MT Al Nisr Al Saudi, a 5,136 deadweight-tonne fuel tanker, was seized with its Greek captain and 13 Sri Lankan crew members. Reports said hijackers were demanding $20 million to free the empty ship, which had been returning from Japan to Jeddah. (Sourc...
Young Min Kim, President& CEO of Hanjin Shipping, who recently took the turn of Trans-Pacific Stabilization Agreement (TSA) Chair, delivered a presentation at the 10th Trans-Pacific Maritime Conference (TPM) held in Long Beach, California from March 1st to March 2nd. Under the title, “Carriers Look Hopefully to 2010 “, Young Min Kim began ...
STX Europe has announced that its subsidiary STX France SA and MSC Cruise have signed a letter of intent for the construction of a new large cruise ship at its St. Nazaire shipyard in France to be delivered in mid - 2012. The new cruise ship will be a sister ship of "MSC Fantasia" and "MSC Splendida", which were delivered from STX France's St. Naza...
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