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Singapore: Profits for Yangzijiang Shipbuilding grew 45% last year to hit an all time high. The Singapore-listed, Chinese shipbuilder reported a net profit of RMB2.29bn for 2009 up 45% from RMB1.58bn in the previous year. “The profitability for the financial year is encouraging for the whole Group. We stuck to our vessel delivery schedule and added fo...
Singapore: Cosco Corp’s profits slumped by 63% last year hit by higher operational costs. The Singapore-listed shipyard and dry bulk shipowning arm of Cosco reported net profit of S$110.1m ($78m) for 2009 compared to S$302.6m a year earlier. Revenues fell 16.6% to S$2.9bn last year. Cosco Corp said its results were impacted by lower dry bulks shipping...
RUSSIA's TransContainer volume totalled 1,237,200 TEU in 2009, which is 17.6 per cent less than in the same period of 2008, according to Russian Transport Daily Report. The volume of the company's investments was around RUB3.5 billion (US$116.2 million) in 2009, including RUB2.1 billion invested in the acquisition of fitting platforms. (Source: www...
SWISS-based Panalpina now offers two new less-than-container load (LCL) ocean freight services linking China and Poland as well as Belgium and the US by deploying its own NVOCC (non vessel operating common carrier) Pantainer Express Line. "Contrary to the overall market development, the demand for additional in-network LCL ocean freight services continued...
TOKYO's Mitsui OSK Lines (MOL) recently completed table top drill based on the scenario of its training ship Spirit of MOL being involved in a collision, fire, and oil spill incident just off Manila which involved about 60 participants from the Tokyo head office and MOL group companies. The drill presumed that the ship was under way in the Manila Bay and...
Singapore: The Singapore government has extended financial incentives to both ship brokers and ship managers in its 2010 budget. “I will introduce a tax incentive to grow shipbroking and extend that for maritime financing activities. In addition, I will expand the scope of GST (goods and services tax) zero-rating for the marine industry,” Tharma...
The U.S. Federal Maritime Commission, after a 45-day review, has allowed container lines in the Transpacific Stabilization Agreement (TSA) to discuss and coordinate strategies that will reduce air and water pollution, as well as vessel fuel consumption. “This is a thoughtful, forward-looking step taken by the Commission, under the leadership of Chair...
Singapore: The nine member lines of the Asia – West Africa Trade Agreement have have announced a two-stage $500 rate increase. The nine member lines of AWATA will be increasing rates by $250 per teu from 1 April for shipments from Asia to West Africa and a further $250 per teu from 1 June. The lines said the increases were necessary to be able to cont...
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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