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IRANIAN warships have fought off a pirate attack launched in the Gulf of Aden against the Maltese flagged 298,731-ton Iran Najm super tanker, operated by National Iranian Tanker Company, on its short run from Kharg Island, Iran, off the Straits of Hormuz to Ain Sukhna, Egypt in the Gulf of Suez. Tanker Operator reported this was the fourth attack on an Ir...
AFTER arresting 18 Somali pirates in the midst of attacking a merchant ship, the European Union Naval Force released them after countries involved refused to prosecute. EU NAVFOR said that after two week's of waiting, the eligible prosecuting states "either decided not to prosecute or could not provide an intent to prosecute within the required timescal...
MARSEILLE-based French shipping giant CMA CGM has received its first of two 11,388-TEU ships from Hyundai Heavy Industries ordered in June and September 2006. The CMA CGM Titan and CMA CGM Cassiopea will join its Far East-Europe FAL 3 loop upgrading its current ship sizes between 8,500-9,500-TEU. The vessels are ninth and tenth of a series of 12 built 18...
DEBT has soared at Marseilles-based shipping giant CMA CGM to US$6.85 billion despite a 15 per cent increase in operating profits to $2.16 billion that erased a 2009 operating loss of $1.49 billion. Paris-based maritime consultants Alphaliner said the big French shipping line has been in breach of certain financial covenants since June 2009, and as of the...
On April 26, The Press Conference for COSCO's 50th Anniversary was held at the convention centre, Ocean Plaza in Beijing. More than 30 presses including central presses, social presses and overseas presses attended the conference. Capt. Wei Jiafu briefed the audience COSCO's great achievements in its 50-year development. Execute Vice President Zhang Fu...
China International Marine Containers (Group) saw its first quarter net profit almost quadruple from a year earlier due to high demand for its dry-bulk containers, reported Dow Jones Newswires. China International Marine, the world's largest manufacturer of shipping containers, said net profit for the three months ended March 31 was US$208.39 million, up...
Seaspan Corporation accepted delivery of the COSCO Vietnam, an 8500 TEU containership, from Hyundai Heavy Industries Co., Ltd. The new containership is Seaspan's fourth delivery in 2011 and expands the company's operating fleet to 59 vessels. The COSCO Vietnam is on charter to COSCO Container Lines Co., Ltd. under a twelve-year, fixed-rate time ch...
CMA CGM has revealed that it will dispose of its 49% stake in Malta Freeport Terminal in order to strengthen its balance sheet. The company has not disclosed the identity of the buyer but the disposal must be completed by the end of June this year, failing which CMA CGM will be subject to margin increases on part of its debt. The move is part of CMA CGM&...
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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