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Daewoo Shipbuilding & Marine Engineering Co., South Korea's third-largest shipbuilder, said Monday that its earnings increased sharply last year on increased gains from equity ties with affiliates and currency-related gains. Net profit reached 578 billion won (US$493 million) last year, compared with a profit of 402 billion won a year earlier, the co...
Taiwanese container giant Evergreen Line has announced a rate restoration on its Northern Europe to USA trades in order to ‘bring freight rates back to sustainable and viable levels so that we can continue providing a comprehensive network and quality of liner services that our customers expect’. The increases apply to all cargo and commodities,...
The prospects for the container shipping market are looking much better than 12 months ago, as both volumes and rates have been rising recently and the increases "appear to be to be resilient," according to the Paris-based consultancy Alphaliner. It points towards growing "optimism among operators with a stronger-than-expected surge in demand in the pre-lun...
THE Guinea Shipping Corporation (GSC), a joint-venture of Hong Kong's Corporate Capital Consultants and Societe Navale Guineenne (SNG), the state-owned shipping company of Guinea has secured a contract to transport raw materials from the West African nation to customers worldwide. The company will focus on managing and operating ocean bulk carriers to sh...
Novorossiysk Commercial Sea Port (NCSP), a multi-purpose Russian stevedoring and port services company on the Black Sea east of the Crimea ranked its top five container lines in the last quarter with Geneva-based MSC taking top spot. Zim was moved down to fourth place from second, bumped by Maersk and East Mediterranean Express Service (Emes) which came i...
DANISH carrier Maersk consolidation of services and shoring up its fleet have led the Danish financial house Dankse Market Equities to report a "bull scenario" for the group in 2010 with a return to profitability fuelled by rising freight rates. The carrier's consolidation in volume on Asia/Europe lanes, represented by increases of 10 per cent from 2007,...
Vietnam: Mitsubishi Heavy Industries and Bach Dang Shipyard have opened a joint venture ship engine manufacturing plant in Vietnam. The factory in Haiphong will produce 22 engines a year with power capacity of between 2,600 kilowatts and 23,500 kilowatts according to Vietnam’s Ministry of Transport. It is the first engine plant to open in Vietnam as t...
Alexander & Baldwin said Wednesday that its Ocean Transportation unit, Matson Navigation, earned a fourth quarter operating profit of $13.5 million, which was down 36 percent from the $21.1 million it earned in the same quarter of 2008. Matson’s revenue slid by 2 percent to $234.8 million from $239.5 million in the previous year quarter due to l...
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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