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Vale SA, the world’s largest iron-ore producer, is seeking to build ships with 400,000 deadweight tons capacity for its own fleet to serve the growing Chinese market and cut costs. Vale’s fleet has helped the Brazilian miner to reduce freight costs when shipping ore to Asia, Chief Financial Officer Fabio Barbosa told analysts today in Rio de Jan...
Mediterranean Shipping Company (USA), joining the push by ocean carriers to pump up depressed container shipping price, announced a series of rate increases Tuesday starting Sept. 1 for U.S. shipments on Atlantic and Pacific lanes. The increases, which will take effect on a staggered basis over a month, range from $500 per 40-foot container on westbound t...
Euroseas Ltd., owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that its Board of Directors has declared a dividend of $0.10 per common share for the second quarter of 2009. The dividend is payable on September 4, 2009 to all the shareholders of record as of...
Growing consumer demand within China coupled with a worldwide decline in the West’s ability to consume Chinese-made goods, may herald long-term changes in the pattern of world trade. This is the prediction from MDS Transmodal, the specialist transport and trade consultancy, after analysing for The Shippers’ Voice ( www.shippersvoice.com ), the...
JULY was the slowest month for containership deliveries for the 10 years AXS Alphaliner has been tracking them, the Paris-based consultancy said in its weekly newsletter. The fleet has almost stopped growing in recent weeks as ships heading for the scrap yards nearly surpass new tonnage coming from the shipyards. "Over July, the total container capacity d...
SOMALI pirates have released 35 seamen held hostage for months after ransoms were paid to the hijackers in exchange for releasing a German containership and a Malaysian tug and their crews which had been seized in separate attacks. The German-owned 1,550-TEU Hansa Stavanger and its 24-man crew were released after the pirates were paid US$2.7 million. The ...
The Marine Environment Protection Committee (MEPC) of the UN's International Maritime Organisation (IMO) agreed at its recent session in London to circulate voluntary and interim measures to address greenhouse gas emissions from shipping, according to the Shipping Gazette. It also adopted amendments to the MARPOL Convention to prevent pollution during sh...
China: An official from the Economic & Trade Commission of the Jiangsu Province recently revealed that the province’s new ship orders had fallen 87 percent year-on-year due to the global financial crisis. Jiangsu Province, China’s leading province in terms of shipbuilding, completed 5.62 million DWT of ships in the first six months of 2009...
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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