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GERMAN container shipping line Hapag-Lloyd is expected to post further losses in 2010, according to Klaus-Michael Kuehne, one of the biggest investors in the Albert Ballin consortium, which owns 57 per cent of the Hamburg carrier. "I don't expect a profit at Hapag next year either," the German logistics billionaire was quoted as saying in an interview wi...
DENMARK's Maersk Line plans to stop making port of calls at Chennai as the Indian port is to be dropped from its MECL 2 service from January, severing its direct links with ports in the Mediterranean and US, in a bid to run the service at a slower speed than at present. The eastbound call at Jebel Ali is also to be removed from the port rotation, while J...
MEMBERS of the CKYH Alliance, Cosco, "K" LINE, Yang Ming and Hanjin, have announced that from the end of November, they will cut shipping capacity 10 per cent to the US west coast and 20 per cent to the east coast. "With even more rationalised and effective fleet operation, we believe we will be able to provide stable and satisfying service, especially un...
"Save in exceptional circumstances, ships should not transit the (affected) area. The risk of attack is now so great that putting seafarers in harm's way amounts to a breach of the ship owner's duty of care," said an ITF statement that called on the wider shipping industry to support this position and to take all measures to ensure the protection of seafa...
Estonian shipping company Tallink said the technical failure of Tallink Silja operated M/S Silja Europa, caused by broken starboard rudderstock, will lead to week-long repairs. Tallink Silja is investigating an option for a replacement ship for the Silja Europe for the Turku-Stockholm link. Pasi Näkki, deputy manager of Tallink Silja, says the ship wil...
Bulk shipping companies have apparently come out of the doldrums and are making profit after over a year. Aided by imports of iron ore and foodgrains by China, the freight rates for dry bulk carriers are surging. The Baltic Dry Index, the benchmark index for such ships, touched 4,381 on November 17, a 14-month high. The last 14 months were the worst for ...
Danish shipping giant A.P.Moller-Maersk has received a DKK 2.60bn (EUR 349.38mn USD 518.87mn) government loan via the Danish government's special export loan scheme aimed to help export companies finance their investments, Logistics Finland reports. Maersk is to use the government loan to finance new ships that are to be built in Asia. Maersk CFO Jan Kv&a...
CMA CGM will increase its piracy risk surcharge for transporting containers through the Gulf of Aden next month, the French carrier said Tuesday. The company said the transit of containerships through the Gulf of Aden in both directions is subject to high costs caused by the prevailing risks of piracy in the area. CMA CGM’s action comes as the number...
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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