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THE fact that almost half of the world's current container ship order may never be turned into actual deliveries amid the global credit crunch is one of the several silver linings that would counter widespread fears of an industry meltdown and collapse of major shipping lines, according to Seaspan CEO Gerry Wang. The newbuilding over-supply situation is ...
CHINESE ports' container throughput during the first two months cumulated to 16 million TEU, sliding 14.8 per cent year on year, Xinhua reported. Seaports lifted 14.9 million TEU, down 14.9 per cent. River ports handled 1.1 million TEU, down 13.9 per cent. Overall tonnage handled by the Chinese ports during this period fell five per cent to 861.1 milli...
Charter rates for liquefied natural gas (LNG) tankers may stay low because of a surplus in LNG shipping capacity, Merrill Lynch & Co said. One too many: An investment boom in LNG shipping in the last five years has led to a tanker surplus Shipyards may deliver 77 vessels or six million deadweight tonnes of capacity in the next few years, according to ...
Shipping giant Maersk has dealt another blow to Southampton’s recession-hit container port by switching business to its rival. From May Maersk Line, the world’s biggest container shipping firm, is to steer the massive ships on its AE1 service from Asia to Europe to Felixstowe, Suffolk, instead of Southampton. It’s the latest in a tide of...
Evergreen Line has announced plans to upgrade its China-South U.S. West Coast-China Service (CPS) and Asia-U.S. East Coast Service (AUE) with improved transit times on the route. The Taiwan-based carrier said the CPS, calling Xingang, Qingdao, Shanghai, Ningbo, Los Angeles, Oakland and Xingang, will now offer a transit time of 12 days from Shanghai to Lo...
Bulgarian shipping firm Navibulgar has announced it wants to purchase of 10 new ships, as soon as the market allows it, Navibulgar executive director Hristo Donev. We are currently looking for a feasible financing institution which will release the required credit for the deal, he said, as quoted by Dnevnik. The ships will be purchased second-hand. Most ...
CHILEAN shipping line CSAV has been further downgraded by credit rating agency Standard & Poor, lowering the carrier's rating from a B- to a BB- rating, and keeping the company on its negative watch. S&P is reported to have slammed CSAV's operational and financial situation within an industry that has taken an unprecedented hit in its latest rep...
QANTAS Airways has announced that John Borghetti, group executive of Qantas Airlines, will leave the company on May 4. Said CEO Alan Joyce: John Borghetti recently discussed his role in the company with me. It is no coincidence that May 4 is the 36th anniversary of John commencing his career with Qantas. John has made a very considerable contribution to...
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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