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European Union regulators are challenging the German government's $1.7 billion loan guarantees to Hapag-Lloyd, the country's biggest ocean container carrier, which narrowly avoided a loss in the fourth quarter. The EU is concerned the guaranteed credits, which were approved by the German government in October, do not meet EU conditions on state aid, the...
Rabat - Maersk Line, one of the leading liner shipping companies in the world, will increase its activity at the Tanger-Med port, Danish Maersk Line group's CEO Eivind Kolding said on Tuesday during a visit to Morocco. In a statement to the press after a meeting with Prime Minister Abbas El Fassi, Kolding said his visit aims to explore investments opportun...
Global iron-ore shipments will crack 1bn metric tons this year, Clarkson Research Services said in a report, increasing its forecast. Seaborne trade will reach 1.006bn tons, compared with 905m tons last year and an earlier estimate of 991m tons, the unit of the world’s biggest shipbroker said. Most of the additional demand will come from China, th...
Mechel JSC has announced it opens its office in Beijing. The company hopes to avoid the obstacles that China sets on the way Russia's coal export and to build new routes for rail transportation of its export cargoes, primarily coking coal and ferroalloys, "Hooter". "In northern China near the border, there are many mining enterprises concentrate...
THE rate of freight rate recovery has been far faster than anticipated because of a surge in demand in January and a shortage of boxes where they are most needed, reports Paris-based Alphaliner. "The high spot market rates have come at a key period as contract rates for 2010 have also strengthened. Twelve-month contract rates for the Far East-Europetrades...
THE 2,824-TEU Horizon Hunter limped into Honolulu, a dozen containers askew on the weather deck, after the vessel was hit by a three-day storm with 30-foot swells and winds up to 50 miles per hour, reported the Honolulu Advertiser. The 730-foot, ship en route from Los Angeles to Guam, lost six containers, and several other boxes on deck were damaged, Hori...
DARKA Shipping Agencies, a member of the Darka for Trading and Services group of companies based in Port Sudan, has secured a logistics contract for a new US$50 million offshore oil drilling project in the Sudanese Red Sea from Red Sea Petroleum Operating Company (RSPOC) who will be working in Block 15 of the Tokar delta section. This will be the first of...
In a regulatory filing to the Korea Exchange, Hanjin said an "unnamed shipping group" scrapped part of it previous US$113 million order. Shipbuilding sources told the newspaper that the line had cancelled a US$1.1 billion contract with Hanjin Heavy. "As far as I know, CMA CGM cancelled the contract with Hanjin," a high-ranking industry official who asked ...
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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