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Samsung Heavy Industries Co. , South Korea's No. 2 shipbuilder, said Tuesday that its third-quarter earnings rose 22 per cent from a year earlier on increased demand for high-priced offshore facilities. Net profit reached 222 billion won (US$188 million) in the July-September period, compared with a profit of 182 billion won a year earlier, the company s...
TOP executives and analysts will gather for the "World Shipping (China) Summit" in Qingdao from November 12-13 to deal with the last "terrifying 12 months" that have "buffeted and battered" the industry where "profits were obliterated and fortunes lost." These words of desperation are strikingly different from the usual placid, pedestrian press releases a...
INDIA's Port of Pipavav on India's west coast has won regular calls from CMA CGM's Asia-Europe service, an official told the Press Trust of India. The official said the port's location and the availability of hi-tech infrastructure and reefer cargo make it an attractive port in Gujarat state for containers. The CMA CGM service is expected to attract...
TAIWAN's Evergreen Marine suffered a year on year third quarter loss of US$269.7 million following a second quarter loss of $144.9 million, the company revealed in a statement. Evergreen said it was hard hit by rock bottom freight rates and diminishing cargo demand the result of the global downturn. Third quarter operating income fell 35 per cent to $348...
Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) are proposing a new series of general rate increases (GRIs) on December 1, 2009 and January 15, 2010, that will affect all dry and refrigerated cargoes to all Asia destinations. The move follows a similar schedule of GRIs which took effect last September 1, and are part of...
ZIM Integrated Shipping Services will receive a capital injection of US$450million from its parent company, following a vote by Israel Corporation shareholders. Israel Corporation shareholders also approved a US$100million safety net, taking the combined total to well over half a billion dollars. One of the major elements of the restructuring plan will se...
Federal Service on Financial Markets (FSFR) registered additional emission of ordinary registered book-entry shares of Admiralty Shipyards OJSC (St.-Petersburg) placed as closed subscription. As per the service information, the emitter shall place 43,000 shares of nominal value RUR1,000 each in accordance with presented additional emission. Thus the overall...
Mediterranean Shipping Co. said Monday it will add calls at Norfolk to the revised port rotation of its Golden Gate Service from Asia via the Suez Canal. As part of the change, the service will no longer call the Port of Savannah and Port Everglades. MSC deploys 12 vessels of 6,050 20-foot equivalent units capacity on the revised Golden Service, which wil...
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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