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South Korea's largest shipping line, Hanjin Shipping, announced a net loss of US$191mn for Q109 in May - below the expectations of many industry observers. A statement released by the company on May 8 indicated that total Q109 sales were US$1,266mn - down by 39.2% year-on-year (y-o-y). The heaviest losses were sustained by the company's bulk carrier servi...
Khanh Hoa province could sink the $500 million STX shipyard project this month if the Korean investor fails to signal whether it would continue with the project. Nguyen Trong Hoa, director of Van Phong Economic Zone Management Board, said the province would wait for the STX Vina Company - a subsidiary of Korean STX Group, also the project owner, till Decemb...
Financially troubled CMA CGM returned to profitability on its operations between Asia and North Europe in October and expects overall operations to show operating profits in November and December. The ocean carrier, the third-largest container line in the world, said in its internal company magazine released this month it is seeing “significant impr...
ISRAELI shipping company Zim Integrated Shipping Services has held a naming ceremony for a 4,255-TEU newbuilding at the state-owned Jaya Container Terminal in Colombo, Sri Lanka. The Zim Colombo is expected to join the carrier's East Mediterranean Express (EMX) Service, bringing the total number of containerships used on this weekly fixed-day service to ...
INTERNATIONAL seaborne trade increased by 3.6 per cent in 2008 to its highest level ever, but this growth is lower than the previous year, according to UNCTAD's Review of Maritime Transport 2009, which warns that "challenging times lie ahead for the shipping industry as the global economic and financial crisis plays out." The newly released annual survey...
MITSUI OSK Lines (MOL) says it has developed a carbon dioxide reducing and efficiency boosting fuel additive for merchant ships, in conjunction with Japanese fuel additive manufacturer Taihokohzai. MOL said in a company statement that it will use the new additive, called Taicrush HD, on its operated vessels to reduce the environmental impact of its operat...
The largest co-investor of the construction of the cargo area of Sochi port at the mouth of the river Mzymta Basic Element company announced it has drawn about 2.8 billion rubles of investment funds for the construction of part of the port, Interfax agency reports citing the company authorities. The total volume of investments into the project "Port of Soch...
State-owned "Delta-pilot" company ordered three pilot boats to be constructed at dockyards of state-owned “Primorets" JSC (Feodosia, Crimea). The contract for the design, construction and supply was signed on December 2, 2009 following the results of open bidding. The boats are intended for the landing and removal of pilots to and off the ship, compan...
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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