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The Vietnam Machinery Installation Corporation (LILAMA) put into operation a shipyard in Hai Phong on March 18th The VND 260 billion shipyard, using the most modern technology in the world, is part of a master-plan shipbuilding industry development until 2010, which was approved by the Prime Minister under Decision 1055/QĐ on November 11th, 2002. The pr...
Hong Kong-based container ship operator Orient Overseas (International) Ltd (OOIL) (0316.HK) on Friday posted a 65 percent fall in second half earnings as a deepening global downturn hit international trade. The shipping and ports company posted a net profit of $114 million for the six months ended December, based on Reuters calculations, beating an averag...
In 2008 TransContainer transported 1.5mln TEU on the fitting platforms which cover 60% of the total containers transit in Russia, the company informed. In 2008 the company increased the park by 3,000 wagons and 9,000 containers. Still in 2008 the demand for container transit rallied down due to the cutdown in the demand. The loading declined by 30%. Trans...
The economic picture in South Korea is turning decidedly gloomy with the possibility that more than a million people could be out of work in the near future. According to data in February released by the National Statistical Office, unemployment grew to 3.9 percent, and the number of unemployed exceeded 920,000 people. With no large number of new orders...
Hanjin Shipping approved a 10% par value cash dividend at the 71st annual shareholdersЎЇ meeting held at its Seoul head office today. The meeting also approved the 2008 financial statements with KRW 9.36 trillion in total sales, KRW 334.4 billion in operating profit and KRW 320.4 bullion in net profit. Benefiting from the companyЎЇs shareholder-or...
Wilhelmsen Ships Service in Germany has been awarded a contract with German based ship management company Hellespont Hammonia for all product deliveries. The agreement covers the entire fleet under Hellespont Hammonia’s management. The senior purchase manager at Hellespont Hammonia, Mr. Matti Früchtenicht, is looking forward to working in...
The CMA CGM Group has announced the delivery, on March 18 in South Korea, of the 11,400-TEU CMA CGM Andromeda, the world’s first containership to be equipped with the state-of-the-art ‘Fast Oil Recovery System’ designed to prevent marine pollution, Exim News Service reported. Thanks to the interplay of judiciously placed pipes, this syste...
Maersk Line parent A.P. Moller-Maersk will cut costs by an additional $1 billion this year to respond to the “new global reality”, CEO Nils Andersen said. “We cannot go on doing business as we have done until now,” Andersen wrote in the Danish transport and energy company’s house magazine. With low oil prices and a tumbling...
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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