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Evergreen Marine reported its second consecutive quarterly loss as the global recession reduced volume and prices for the world’s fourth largest container line. Joining other container lines that have reported losses amid declining demand this year, the Taiwan-based carrier lost $60 million in the second quarter, compared with a net profit of $25 mi...
Latvia's listed shipping company, Latvijas Kugnieciba (LASCO), reported USD 9.29mn (EUR 6.50mn) in the group's profit in the first half of 2009, down 4.5 times, y/y. The holding's sales dropped by 6.3% to USD 104.608mn in the same period of time. The company's management assessed LASCO's operations as successful in the company's core business, shippin...
CHINA Shipping Container Line experienced 427.6 per cent decline in first half loss of CNY3.1 billion (US$453.7 million) on revenues of CNY8.9 billion, which fell 51.5 per cent year on year. Overseas Shipholding Group, Inc. announced that it has signed a nonbinding settlement proposal with American Shipping Company ASA (AMSC) that seeks to settle all outs...
CHINA Shipping Container Line experienced 427.6 per cent decline in first half loss of CNY3.1 billion (US$453.7 million) on revenues of CNY8.9 billion, which fell 51.5 per cent year on year. Shipping volume of the group reached 3,183,635 TEU in the first half of year 2009, a decrease of 11.4 per cent over the same period in 2008 while shipping capacity st...
AUSTRALIAN authorities are investigating possible legal breaches after a North Korean arms shipment for Iran was seized by United Arab Emirates customs aboard a French-Australian owned containership, The Associated Press reported. The ship is owned by Melbourne-based ANL, a subsidiary of Marseilles-based CMA CGM Group, the world's third-largest container...
MATSON Navigation Company has announced the retirement of its chairman James Andrasick, 65, effective from September 1, 2009. Mr Andrasick has been Matson's chairman since October 2008 and was the company's president and CEO from 2002 through 2008. During his tenure at the helm of Matson, Mr Andrasick oversaw the building of four containerships, the s...
CMA CGM subsidiary OT Africa Line (OTAL) has expanded the coverage of its West Africa feeder network by adding a port of call at the Angolan port of Cabinda. The new port rotation of the West Feeder Service (WFE) is: Pointe Noire (Congo), Cabinda (Angola), Boma (Democratic Republic of Congo), Banana (Democratic Republic of Congo), Lobito (Angola), and Nam...
GLOBAL Fortune Lines Pte Ltd has been appointed the new Singapore liner agency for IAL Container Line (UK) Limited, Dubai. As an extension of this cooperation, the Singapore regional office is also acting as a joint partner on all its air freight and project cargo services. This partnership development and wide service network spanning the Indian subcon...
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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