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China-based Cosco Pacific will sell its stake in Cosco Logistics to its parent company, the container terminal operator said Thursday after reporting a 32 percent drop in its profit in the first half of this year. The unit of state-controlled China Cosco Holdings said profit for the six months ending June 30 hit $104.5 million, down from $153.2 million in...
Mediterranean Shipping Company will put a General Rate Increase into effect Oct. 1 on all tariff and contract cargo from the United States and Mexico to Western Mediterranean destinations. The increase will be $100 per 20-foot equivalent unit and $200 per 40-foot equivalent unit. MSC is a privately-owned company based in Geneva operating 413 vessels with...
Ever since the first rail shuttle was brought into operation in 2000, the proportion of goods transported by rail to and from the Port of Gothenburg has increased significantly. Around 60 per cent of containerised goods that currently pass through the Port of Gothenburg do so via one of the 24 rail shuttles. Maersk Line is one of the customers that has op...
Wilhelmsen Ships Service today announced that it has launched Fire, Rescue and Safety Services (FRS) at its service station in Moji in Japan’s Fukuoka Prefecture to meet its shipping principals’ needs for fire and rescue systems and services in southern Japan. Wilhelmsen Ships Service’s Fire, Rescue and Safety services at Moji complements...
Golden Ocean Group Limited has agreed to get released from the bare boat agreement for the 1994 built Panamax vessel "M/V Golden Joy" against purchasing the vessel for $10.7 million. Simultaneously the company has agreed to sell the vessel for net sale proceeds of $16 million. Delivery to the buyers will take place in October 2009. The transaction...
CKYH Alliance (Coscon, “K” Line, Yang Ming, Hanjin Shipping) is to rationalize their Asia – North Europe/Mediterranean Service in October 2009. This rationalization of service eliminates overlapping of similar service loops and reduces duplicate calling ports thereby improves efficiency of the service and reduces service capacity of CKYH...
THE Asia Australia Discussion Agreement (AADA) member shipping lines have announced a bunker surcharge on cargo from mainland China and Hong Kong to Australian ports to be increased to US$375 per TEU and US$750 per FEU for dry and refrigerated containers from September 11. The AADA said that this reflects the increase in the price of oil at Hong Kong and ...
MOL (Mitsui OSK Line) is implementing a general rate increase (GRI) on its Europe-South Africa trade of US$200 per TEU October 1 north and southbound. "We are committed to maintaining high service levels during these difficult economic times," said north-south trade manager Colin de Souza. "However, the cost of maintaining these levels is no longer sustai...
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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