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Taiwan's Evergreen Marine , the world's fourth-largest container line, posted a net loss of T$2.58 billion ($80 million) in the third quarter, the firm said on Monday. The result was based on Reuters calculations after the company said it had a loss of T$7.29 billion in the January-September period. The quarterly result was worse than the T$480 million ...
Danish shipping company Torm, that owns and operates product tankers and bulk carriers, has decided to put its ambitious growth plan on hold due to the global crisis in the shipping industry, Logistics Finland reports. The company's growth plan aimed at doubling its present fleet of 143 ships by 2010. Torm's MD Mikael Skov says, however, that the company ...
Maersk Line announced a new service between East Med and Central Europe via the Adriatic Sea called Adriatic Levant Express or "ALEX". The company further enhances its existing extensive network in the Mediterranean by deploying two vessels on the new service to offer an innovative solution to the East Mediterranean reefer market with departures from Alexa...
Maersk Line announced a new service between East Med and Central Europe via the Adriatic Sea called Adriatic Levant Express or "ALEX". The company further enhances its existing extensive network in the Mediterranean by deploying two vessels on the new service to offer an innovative solution to the East Mediterranean reefer market with departures from Alexa...
Hanjin Shipping is restoring freight rates in the Trans-Atlantic trade effective December 1st, 2009. The amount of rate increase for all North American shipments to and from North Europe and the Mediterranean is USD 250 per TEU and USD 350 per FEU. Hanjin Shipping comments that despite the company's continuous efforts to reduce costs, this rate restora...
TUI, which had sold a majority stake in Hapag-Lloyd in March 2009, said on 28 October 2009 that the container shipping company's loss in 2009 will be lower than expected thanks to successful cost-cutting efforts and stabilizing freight rates. According to Logistics Finland, market observers have seen a USD 900mn (EUR 611.60mn) loss at Hapag-Lloyd. (Sourc...
BEIJING authorities and shipowners are reportedly holding ransom talks with pirates over the release of the Cosco-operated 76,000-ton coal carrier De Xin Hai, and its 25-man crew taken two weeks ago off the Seychelles and now moored near Somalia. The ransom amount will not be made public, reported Hong's Kong's South China Morning Post, citing Zhang Zuy...
FRENCH shipping giant CMA CGM has announced a rate increase on all cargo and commodities northbound from east coast of South America to Mediterranean, Persian Gulf and North European ports as of November 1. The increase will be US$200 per TEU, dry or reefer with a bunker surcharge set on a variable basis and applied in addition to basic freight rate level...
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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