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Media
Cargotec, the Finnish manufacturer of cargo-handling equipment and cranes, said it is merging its business units Hiab and Kalmar and reorganizing the company. As a result of the merger, Cargotec will consist of two business areas: Marine, which comprises the current MacGregor business area, and Industrial and Terminal, which comprises current Hiab and Kal...
French carrier CMA CGM will implement a general rate increase for cargo moving on its services from India to destinations in West Africa, effective Sept. 1. The proposed increases are $250 per 20-foot container and $500 per 40-foot/high cube container. In a notice to the trade, the Marseilles-based company said the GRI will apply to all cargo and commodi...
Rickmers Maritime Trust, the Singapore-based containership owner and charterer, said its profit for the second quarter ended June 30 dropped 43 percent to $5.33 million from $9.2 million in the same quarter last year, as the company took a precautionary impairment charge against the possible early redelivery of one of its charter vessels. The company, whic...
Regional Container Lines plunged into the red in the first half of the year, but expects some improvement in business the third quarter. The Thai-listed container line reported a first half net loss of Baht1bn compared to a profit of Baht1.2bn in the same quarter last year. In the first six months of the year RCL’s volumes sank to 1.1m teu, down 2...
The owners of Hapag-Lloyd, the cash-strapped German shipping line in which TUI AG is the biggest shareholder, have reached an agreement on additional funding, according to Bloomberg news, citing a person familiar with the situation. Earlier, TUI said HSH Nordbank AG, representing Hapag lenders, might file for government loan guarantees worth $1.71 billion...
Major shipping lines have decided to postpone imposing an increase in congestion surcharges at Aqaba Port “until further notice”, shipping sources said on Saturday. Last week, a consortium of major international shipping lines announced a $250 increase in congestion surcharges for 20-foot containers and $500 for 40-foot containers, which led to ...
The London-based think tank, Oxford Business Group (OBG), highlighted earlier in the week the importance of the ambitious Tanger Med II Port expansion project which aspires to position the kingdom at the centre of Mediterranean and international trade, UMCI News reported. Major infrastructure projects are scrambling for finances across North Afri...
Norwegian Cruise Line has managed to make a financial turnaround, posting a net profit in its second quarter results for the three months ending June 30. NCL said its net income increased to $15.4 million compared to a net loss of $27.0 million. EBITDA also improved by a whopping 87% to $84.2 million compared to $45.1 million in the same period last year...
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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