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Media
JAPANESE container shipping line NYK Line is experiencing stronger transpacific demand than expected at the start of 2010 but will wait several weeks before deciding whether to add extra capacity to this trade lane, according to one of its senior executives. "Right now we have a bit of an artificial peak created by the Chinese New Year," said Americas vic...
MAJOR Hapag-Lloyd share holder Klaus-Michael Kuehne called on the German travel giant TUI AG, the former owner of the container shipping line and still a big stockholder, to leave the company altogether, Reuters reported. The 72-year-old owner of Swiss logistics group Kuehne + Nagel affirmed he would like to raise his own 15 per cent stake in Hapag-Lloyd....
THE Hong Kong-Los Angeles FEU spot rate jumped 10 per cent in the last week, according to price data provided to London's Drewry Shipping Consultants by non-vessel-operating common carriers in Hong Kong. The spot rate this week was US$1,416 per FEU, compared to $1,284 per FEU last week, but was still 0.8 per cent lower year on year. "It's the result o...
STANDARD & POOR's unit Maalot has upgraded Zim's bond rating from "CC" to "B" after the troubled Israeli flag carrier's bailout and a recent rise in freight rates improved cash flow. The credit rating agency had dropped Zim from an "A" to "CC", a level above bankruptcy when the shipping line faced plunging freight rates and US$3 billion in debt fro...
GENEVA's Mediterranean Shipping Co (MSC), rated the world's second largest container carrier after Maersk, will levy a US$505 per TEU bunker surcharge on shipments from Asia to Europe from February 1. The surcharge applies to all shipments bound for Red Sea, Mediterranean, Black Sea ports and destinations in north Africa, UK-north continent, Scandinavia...
"Rosmorport" company in December 2009 has filed suits against five stevedoring companies operating in the Big Port of St. Petersburg. According to the Arbitration Court of St. Petersburg and Leningrad region, lawsuits filed against major companies, including "Petersburg Oil Terminal JSC” (POT), "Sea Port of Saint-Petersburg JSC” "Baltic Bulker T...
Work at Bangladesh's busy Chittagong Port came to a standstill yesterday as dock workers observed a strike demanding reinstatement of about 2,200 fellow workers, terminated during the past military-backed interim government. Port officials said the dock workers stopped loading and unloading of goods in 13 general cargo berths since yesterday morning....
Hainan Strait Shipping Co Ltd has finished issuing 39.5 million shares for RMB 33.6 apiece or RMB 1.33 billion in total, bringing in net proceeds of RMB 1.28 billion, sources reported. Some of the funds were transferred into an account at Bank of China, which had a balance of RMB 985 million as of Jan. 8. These funds will be used to develop a shipping route...
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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