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Overseas Shipholding Group, Inc. announced that it has signed a nonbinding settlement proposal with American Shipping Company ASA (AMSC) that seeks to settle all outstanding commercial disagreements between the two companies. The proposal is intended to resolve certain liquidity issues previously disclosed by Aker Philadelphia Shipyard ASA (AKPS), for AKPS ...
MISC Bhd has completed the en-bloc sale of its Anggerik Class vessels comprising four 29,900 deadweight tonne (DWT) single-hull chemical tankers for US$14 million. The sale of the vessels, built between 1989 and 1991, was in line with the company's asset management strategy to phase out single hulled vessels. The national shipping line, in a filing to Bu...
Maersk has launched a new container service between the port of Pusan (S. Korea) and Vostochny port (terminal operated by Vostochnaya Stevedoring Company), the company reports according to Interfax. The first vessel of this weekly service was a 698-TEU container carrier OSG Bosstec. Maersk is the second global container carrier to arrange an independent...
Investment into loose dry cargo terminal of Liepaja port to make $6.8 mln (LTL 3.4), Direction of Liepaja SEZ says according to the Baltic Course referring LETA. The Direction has approved the project submitted by Transit Service for the development berths 51 and 51А, envisaging the construction of a terminal for transshipment of loose dry cargo. The cap...
AB Mazeikiu Nafta announces that consolidated net profit of the Company for the first half of the year amounted to LTL 72 million (USD 29 million) in comparison with LTL 280 million (USD 127 million) for the same period of 2008. Revenues of the Company for the first half of 2009 reached LTL 4.8 billion, and were almost twice lower than for the same period l...
India’s biggest carrier of liquefied petroleum gas, Varun Shipping Co. Ltd, will slash spending on new vessels this fiscal by at least 65% after the global financial crisis shut off access to credit. “Varun plans to spend between $80 million and $100 million (Rs391 crore and Rs489 crore) on new vessels in the year ending in March, managing direc...
More Iranian warships are to be sent to the Gulf of Aden, to protect the fifth-largest crude exporter's oil tankers from pirate attacks. The naval units are to be sent to the waterway linking the Red and the Arabian Seas 8:00am local time (12:40 GMT), Monday, the semiofficial Iranian Students News Agency reported on Sunday. The warships are to join the e...
Maersk Line’s ocean freight rates from the Mediterranean and North Africa to the United States and Canada will increase by $300 per container from Oct. 1, the carrier said Monday. "The trading conditions for the carriers operating in these markets are still subject to unacceptable rate levels and the situation is unsustainable in the long term," the ...
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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