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Samsung Heavy Industies is part of the Atlantico Sul (AS) consortium which this week received news it is to receive Reais 542m ($248m) from the Brazilian National Development Bank (BNDES) to build a new shipyard capable of constructing tankers up to VLCC size. The BNDES has confirmed this week it will hand over the cash to the AS shipyard in Suape, after s...
Ahmad Abdullah Al-Ghurair, director of Emirates Trading Agency, has been elected president of the UAE Ship Owners Association (UAESOA) at that body's second AGM in Dubai. The UAE ship owners discussed a number of topics in which they have a common interest. Of major concern to the ship owners were banks which were taking advantage of the very poor shippi...
Mediterranean Shipping Co. on April 30 signed a six-year extension of its existing contract with the Maryland Port Administration that requires MSC to bring a minimum of 100,000 containers annually to the Port of Baltimore, which is three times the amount the original 10-year contract required. The new agreement extends the current contract with MS...
Carriers in the Asia-Australia Discussion Agreement announced plans to raise their bunker surcharges for cargo moving from China and Hong Kong to Australia. Effective May 15, the surcharges will be $225 per TEU and $450 per FEU for dry and refrigerated containers, the member lines said in a notice to the trade. The 13-member group said the decision foll...
Maersk Line, expanding its bid to raise prices, posted a series of rate increases today on its service from Asia to Latin America that will take effect on June 1. It said it is implementing what it called a “rate restoration” program because “trading conditions for the carriers operating in the markets between Asia and Latin America are...
Looking to focus more on cargo business in the downturn, A.P. Moller-Maersk confirmed Thursday that it is in discussions with a number of parties about the possibility of selling its European Ferry company, Norfolkline. “There is no certainty as to whether these discussions will result in a transaction taking place,” it said in a statement that...
Somali pirates have seized a British-owned ship with a Ukrainian crew, a spokesman for the Ukrainian Foreign Ministry said on Sunday according to RIA Novosti. The Maltese-flagged cargo vessel, the Ariana, owned by British company Seven Seas Maritime Ltd., was seized by the Somali pirates some 250 miles southwest of the Seychelles islands in the Indian Oce...
HORIZON Lines has posted a first quarter 2009 loss of US$10 million, down from a profit of $700,000 for the same quarter last year, as volumes fell and other unusual charges, including legal fees, mounted. The carrier said its adjusted net loss totalled $4.7 million after adjustments for a restructuring charge and legal expenses related to anti-t...
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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