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GREEK dockers at Cosco's Piraeus container terminal have been have returned to work under a court order which bans further strikes and threatens daily fines of US$6,000 if workers walk out again. A Piraeus judge ordered 1,500 dockers back to work after they again started striking the Cosco Pacific terminal early October in a series of on-again off-again ...
JAPAN's NYK Line, the country's biggest shipping company, has announced it plans to raise US$1.6 billion through a public share sale to finance restructuring to counter the global downturn. NYK said it would issue 427 million new shares at home and abroad, and an additional 33 million in third-party allotments to Nomura Securities, increasing outstandin...
DENMARK's AP Moeller-Maersk, owner of Maersk Line, the world's biggest, has announced a year-on-year DKK3.86 billion (US$778 million) net loss for the first nine months compared to its DKK17.7 billion profit last year. This is blamed on falling consumer demand and freight rates that were 30 per cent lower and container volumes were five per cent below t...
Asia will account for the majority of single hull tankers plying international waters after the IMO phase out deadline expires in 2010. Intertanko’s regional manager for Asia Pacific, Tim Wilkins (pictured), said at the World Shipping Summit in Qingdao that some 3% of the total tanker fleet, around 46m dwt, will still be single hulled come the end of...
The cost of shipping Middle East oil to Asia, the world’s busiest route for supertankers, slid because there are more tankers than cargo. According to Exim News Service, charter rates on the industry-benchmark Saudi Arabia to Japan route declined by 1.7 per cent to 42.67 Worldscale points, yielding owners returns of $17,567 a day, according to data f...
Mr. Michael J Dye has been appointed as Regional CEO – Asia Pacific of global consolidator and NVOCC Ecu-Line effective 1st November 2009. His region will comprise the Far East, Middle East, Australia and New Zealand and he will be based in Hong Kong. Announcing his appointment, Mr. Kris De Witte and Mr. Marc Stoffelen, CEOs of the Ecu-Line group said...
The world has come to recognize the potential of the Indian shipping industry, its capability to innovate and grow on the global stage, said APVN Sarma, former Secretary, Shipping, at the inaugural SMM India, shipbuilding, machinery & marine technology trade fair and exhibition. Speaking at the opening conference, Maritime India-The Path Ahead, Mr. Sarm...
Ro-Ro vessel Nikolay of Far East Shipping company (DVMP, Transport group basic company of FESCO) delivered an assembled frame crane for Dalreftrans (a part of FESCO transportation company). As per FESCO press service such cranes were earlier delivered by special barges, a new approach enabled DVMP reduce transportation costs on the crane deliver...
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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