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The 400,000-dwt ships are widely understood to be tied to the $5.84bn consecutive voyage contract signed between STX Pan Ocean and Brazilian miner Vale last month, writes China shipping. Brokers say five of the units are due in 2012 and three are to be delivered the following year. The total contact value remains undisclosed. Vale is reported to be in t...
French shipping group CMA CGM lost $515 million in the first six months of 2009, and is negotiating with banks to restructure its debt, its chief executive told Les Echos in an interview on Monday. The world's third largest shipping operator, which has suffered from the downturn in commercial trade in the past year, faces a debt of "around $5.6 billion",...
ZIM Integrated Shipping Services (ZIM) has confirmed that its proposed financial restructuring plan is nearing final approval. Detailed updates to the plan are included in the transaction report published on Sunday by ZIM’s parent company, Israel Corporation. The report has been released in preparation for Israel Corporation’s general shareholde...
In an important development for the Visakha Container Terminal (VCT), a Hanjin Shipping vessel made its maiden call at the facility last week subsequent to the line joining the INDFEX2 consortium. According to Exim News Service, Hanjin had recently become part of the INDFEX2 consortium and taken over the vessel, m.v. Kota Puri (the one which called), whic...
The surplus of supertankers competing to ship two million barrels of crude from the Middle East rose recently with more ships available for hire, according to Exim News Service. There are 20 per cent more vessels for hire than cargoes for delivery over the next 30 days, according to a survey. That’s up from the estimated 15 per cent surplus on Octobe...
The Shipping Corporation of India (SCI) on October 10 accepted delivery of a medium-range (MR) product tanker, m.t. Swarna Kalash, Exim News Service reported. Delivery of the vessel was taken by Mr Umesh C. Grover, Director (T&OS), SCI. This is the first large commercial vessel acquired by any Indian shipping company from China, which has emerged as...
It is planned to take actions on fusion of St.-Petersburg and Baltic customs by middle of 2010, informed Mikhail Prokhofiev, the Head of North-West customs Administration (SZTU). ‘It was time when Baltic customs separated from St.-Petersburg one. They will become a single unit soon,’ mentioned Rosbalt with reference to Prokhofiev. It is as...
Volume of cargo shipments in Azerbaijan in January-September, 2009 increased by 2.6% (to138 million tons) as compared to the corresponding period 2008, informed Ziya Mamedov, Mister of Transport, at a meeting of the Cabinet of Ministers devoted social-and-economic results of the Republic within 9 months, 2009. In particular, RZD-partner.ru informed, 15.5 ...
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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