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Ship Finance International Limited has sold the single hull VLCC Front Duchess to an unrelated third party. Delivery to new owners is expected to take place in September/October 2009. Upon delivery of the vessel to the buyers, the long term charter party between Frontline and Ship Finance International Limited will be terminated, and the latter will make ...
The Green Ship of the Future, the Danish maritime initiative, has received the International Environmental Award from the Sustainable Shipping organisation for being the most environmentally friendly shipping initiative. Sustainable Shipping is a leading organisation dedicated to promoting sustainable use of the sea. Among the judges was Dr. Simon Walmsle...
Japanese shipping giant "K" Line suffered a quarterly year-on-year revenue loss of 45 per cent to US$1.9 billion and a net profit loss of minus $155.08 million in the first quarter of its financial year ending June 30, the Shipping Gazette reported. "In the US economy, despite signs of bottoming out from some economic indicators, the housing market has re...
Mitsui OSK Lines (MOL), with the world's biggest merchant fleet, has lowered its operating profit forecast by 25 per cent for the year ending March 31, from the previously announced US$843 million to $527 million. The company posted a first-quarter loss of $137 million as sales fell 41 per cent to $3.1 billion, hurt by falling shipping rates and weakenin...
Japanese shipping major NYK Line is predicting its first unprofitable year in 23 years, forecasting a loss of US$53 million, reports Bloomberg. The shipping line posted a first-quarter loss of 19.9 million in revenue, a decline of 44 per cent to $4 billon. The global downturn has choked demand for furniture, building materials and consumer electronics i...
On July 13th, 2009, MARAD (US Department of Transportation - Maritime Administration) and US Coast Guard published the Final Environmental Impact Statement (FEIS) for the Port Dolphin floating LNG import terminal off the western coast of Florida in the United States. This marks an important milestone in the regulatory process to obtain the federal and state...
The U.S. Department of Homeland Security on Wednesday released a progress report on efforts to protect the nation from terrorist attack on the fifth anniversary of the 9/11 Commission report that spurred many changes in domestic security policy. The 12-page report is essentially a laundry list of well-known developments and steps taken by the ...
A U.S. Congressman is proposing legislation that would force companies that export gasoline to either choose between doing so to the United States or Iran, provided Iran fails to heed calls to end its nuclear program. The legislation is being pushed by Rep. Howard Berman, D-Calif., and would also apply to companies that assist in the transport...
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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