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The chairman of South Korea's STX Group added to the growing pessimism in the global shipbuilding industry by arguing that the company should move to hedge its bets in the emerging renewable energy sector, reports the Korea Times, . "The shipbuilding and shipping markets won't see a boom for the near future. This is a time for a new business paradigm," ...
М-100 fuel-oil average prices of spot market amounted to RUR9, 962 per a ton as of November 23, 2009. As per Kortes IC, summer diesel fuel cost amounted to RUR15.718 thousand per a ton, that of winter fuel - RUR18.278 thousand per a ton in the reporting period. Source: Port News
The Singaporean Keppel Offshore & Marine Company has recently signed a memorandum of understanding in Baku, Azerbaijan, for the construction and operation of a new shipbuilding yard. The facility will be built near the Baku Deep Water Jacket Plant owned by SOCAR (State Oil Company of Azerbaijan). Under the new project, the plant is envisaged to be cons...
RONALD Widdows, chief executive and president of APL parent, Neptune Orient Lines (NOL), has said carriers need to increase transpacific rates to combat the recent drop in demand despite an excess in supply. Mr Widdows said rates would "have to increase a lot, and soon, or some carriers will go out of business," he said, adding that carrier would lose US$...
Korea's Hanjin Shipping is increasing rates on all cargo starting December 14 from Asia (Far East, south east Asia and the Indian subcontinent) to north Europe and the Mediterranean US$200 per TEU and $400 per FEU, and from the Middle East to north Europe and Mediterranean it will levy an increase of $150 per TEU and $300 per FEU, according to Shipping Gaz...
AP Moller-Maersk, operator of the world's largest container line, said that it expected the market to grow in 2010, adding that freight rates may start to appreciate as carriers cut back on capacity, reports The Associated Press. But sentiments within the company remain divided, however, as some senior officials take a more cautious outlook, said the rep...
Mr Markus Pietikäinen (MSc, Economics) (34) has been appointed Vice President, Group Treasury and Financial Services as from 1 January 2010. Effective from the same date, the Group Treasury and Wärtsilä Development & Financial Services (WDFS) will operatively merge to achieve synergies in financial operations and services. Mr Pietikä...
MAERSK Line CEO Eivind Kolding spoke of the tough times that new graduates face when entering the job market, citing excessive overcapacity as one of the main factors behind the container losses in recent years. "This has been one of the most turbulent years in the history of liner shipping, affected as it has been by both the global economic crisis and e...
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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