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In London, the Brent Crude contract was down $0.23 on September 18 to $71.32 per barrel on the ICE Futures exchange. Light Sweet Crude fell $0.43 to $72.04 on the New York Mercantile Exchange, RBC reports. Source: Port News
Sakhalin Energy, the operator company of the Sakhalin II Project, has marked 10 years of commercial oil supplies. The first cargo was exported in September 1999, heralding the start of Sakhalin Island's emergence as a new energy hub in Asia-Pacific. "Stable and reliable supplies of Vityaz, the oil grade that we introduced to the international market, pav...
China Ocean Shipping Co. announced a peak season surcharge of $400 per 40-foot container and $320 per 20-foot container on all cargo moving from the Far East and Indian subcontinent to the U.S. The surcharge, effective immediately, is to run until April 30, 2010. With freight rates in the eastbound Pacific having reached record lows this summer, a number o...
Hanjin Shipping and Hyundai Merchant Marine have announced today that they will cooperate in the Trans-Pacific trade beginning from October, 2009. Specifically, these two partner carriers will be exchanging vessel space; Hanjin will be taking slots on Hyundai’s SZX (Suez Express) and Hyundai, on Hanjin’s AWN (All Water North Atlantic). ...
Evergreen Line is commencing a new Adriatic-Levant (ADL) butterfly service created through the combination of two existing services, the Adriatic Feeder Service (ADF) and the Intra-Mediterranean Feeder Service (IMS), according to the Shipping Gazette. The weekly ADL service is intended to cater for both deep-sea feeder and regional traffic. The rotation i...
CMA CGM has announced it will raise freight rates to a "sustainable level" on its services between India, Pakistan and Europe as part of a continuing rate restoration programme that aims to "provide its customers with the same reliable and efficient services to which they are accustomed," the carrier said in a statement. New rate increases will apply to a...
COSCO Pacific Logistics Co., Ltd. (CP Logistics) will sell a 49% stake in COSCO Logistics Co., Ltd. to China COSCO Holdings Co., Ltd. for CNY 2 billion, but the seller still enjoys the profit distribution for the first nine months of 2009. The vendor, the buyer, and the target company are all under the aegis of China Ocean Shipping (Group) Company (...
FIGURES from the Hong Kong Marine Department show the port handled 1.936 million TEU in August, a fall of 10.7 per cent over the 2.168 million TEU in August of last year. Singapore's Maritime and Port Authority reported an 13.8 per cent decrease in container movement in August, having handled 2.277 million TEU compared to 2.642 million TEU in August of l...
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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