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Mercator Lines (Singapore) nine months profits fell 55% to $27.8m hit by the decline in dry bulk markets. The Singapore-listed arm of the Indian shipowner reported revenues of $105m for the nine month period ending 31 December 2009, down by 30% last year. Mercator said the drop in revenues and profits was largely due to the decline in average daily dry ...
Neptune Orient Lines reported a hefty 43% jump in container volumes for the last six weeks of 2009, however freight rates remained depressed. For the period 14 November to 25 December last year NOL carried 312,000 feu, up 43% for the 218,100 feu transported in the same period a year earlier. The company said the higher volume was due to higher number of...
The United States Coast Guard says the spill from a Malaysian owned tanker in Port Arthur has been contained. The 95,000dwt, Singapore-registered, Eagle Otome, owned by MISC tanker arm AET Tankers, spilled around 1,460 tonnes of crude in Port Arthur, Texas after it collided with a barge at the weekend. USCG officials said the spill had been largely contai...
At least eight vessels were sold for scrap to Asian break yards last week market sources told Ocean Intelligence on Monday, including four single-hulled tankers, one of which belonged to CMA CGM, one capesize dry bulk carrier, and a box ship owned and operated by Zim. Indian breakers led the pack once more, as they have done so for several weeks already, ...
One of China's two leading State-owned shipbuilders, China Shipbuilding Industry Corporation (CSIC), said Sunday that its profit in 2009 jumped 18.5 percent to 7.39 billion yuan ($1.1 billion). The Beijing-based conglomerate, which consists nearly 50 industrial subsidiaries and about 30 R&D institutes in northern China, also said its operating income...
In mid-January, the French shipping company CMA CGM started operating a new feeder service between the Port of Hamburg and the Danish ports of Fredericia and Copenhagen, as well as Halmstad in Sweden and the Baltic Sea port of Szczecin in Poland. The feeder ship "ELECTRON" calls at container terminals at the Port of Hamburg once a week...
The workers at STX Finland Turku shipyard went on strike on Thursday January 21, which will continue for the rest of the week. It is a protest against the plans to reduce the workforce with more than 400 employees at the Turku shipyard. Their trade union demands that Finland immediately introduces powerful means of supporting the shipbuilding industry and t...
Vostokbunker CJSC and China's Huayuan Shitun (Hunchun) concluded an agreement of intent for the supply of petroleum products. The agreement of intent was signed on January 20 in the Yangtze (China) by Sergey Zhidkov, the executive director of the VB oil terminal who had been visiting China with a delegation of Khasan region, the VB press service repo...
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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