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The internal document, which reported that the South Korean government has determined that the optimum number of shipyards in the country is "five major builders," has been made public, causing quite a stir, the Kaiji Press reports. There are currently seven companies in South Korea that are considered to be large-scale shipyards, so the...
The volume of demolished bulkers in January-March 2009 reached 99 units, aggregating 4.08 million dwt, according to Clarkson Research. Broken down, the vessels were made up of five capesizes) of 790,000 dwt, 13 post-panamaxes of 850,000 dwt, eight handymaxes of 380,000 dwt and 73 handysize bulkers of 2.06 million dwt. Source: http://www.seatradea...
As part of Beijing's dramatic stimulus plan the world's richest bank ICBC has given COSCO a $15bn credit line, delegates attending the 2nd Asia Maritime Law Conference in Singapore were told. China COSCO Holdings reported full year earnings down 40% this week. Beijing is desperate to get local owners to snap up cancelled ships at local yards, with COSCO...
The new ferry “Lisco Maxima” of DFDS Lisco (headquarters in Klaipeda), owned by Danish shipping company DFDS A/S, will be the largest vessel flying the Lithuanian flag, RZD-Partner reports. A source in the company told IA RZD-Partner.Ru that the ferry has left Italy for Klaipeda. “Lisco Maxima” will be the 8th vessel of DFDS Li...
South Korea plans to launch a fund to buy vessels from cash-strapped shipping companies at market prices, and will loosen rules on ship purchases and investment in shippers, according to a statement by a financial watchdog reported by Reuters today. The public sector will provide about $742 million for the upcoming fund, to which private investors and cr...
Maersk Line announced improvements to its Asia - Europe network for implementation mid-May 2009 and onwards. Service developments will offer Maersk customers: - More direct port coverage - Unchanged Asia - Europe network capacity - Enhanced product reliability - A stronger product from Asia to the Adriatic On Asia to Northern Europe strings, Maersk w...
Grand Alliance members Hapag-Lloyd, MISC Berhad, Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL) are delighted to announce they have been awarded “Best Container Shipping Alliance” at the Asian Freight and Supply Chain Awards (AFSCAs), held in Hong Kong on April 22, 2009. “We are delighted to receive this award and we...
Renewable energy and shipbuilding will be declared new 'thrust sectors' as the government unveils on Saturday the draft of its industrial policy for the next five years, officials said Thursday. Industries ministry officials said the two hot sectors have been singled out for special government sops as the authorities are giving a final touch to the Indu...
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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