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According to the German Economy Ministry, German shipbuilders face order cancellations worth as much as EUR 936 million in 2009, in 2008 the shipbuilders received cancellations worth EUR 730 million, Bloomberg reports. The cancellations are due to the global downturn, overcapacity in the shipping industry and problems to secure financing for vessel proje...
Hanjin Shipping, one of the top three operators of the key Asia-U.S. route, expects the global container shipping industry to start to recover next year and to rebound in 2011, a senior executive said on Wednesday. Global container carriers are reeling from a collapse in freight rates and steep overcapacity as trade volumes have declined sharply since the...
Top managers of FESCO PLC held negotiations with delegation that represents Samsung Heavy Industries (SHI). SHI is a different vision of Samsung, the biggest corporation in Republic of Korea. It is the first meeting between Vladivostok shipping company and leading shipbuilder from South Korea. FESCO PLC has a wide experience of cooperation with shipbuilde...
OOCL, as a member of the Hong Kong-based Climate Change Business Forum (CCBF), is delighted to congratulate the Forum on its first anniversary (March 17, 2009). “OOCL is committed to reducing harmful emissions and caring for the environment, as well as assisting our customers to reduce their carbon footprint. Through membership of the Climate Change...
The world fleet of dry bulk and general cargo vessels is expected to continue growing through 2012, in spite of weak freight rates and general overcapacity of tonnage, as new ships on order are delivered from shipyards, according to the latest Shipbuilding Market Forecast from Lloyd’s Register - Fairplay Research. While scrapping of existing ships wi...
Stolt Tankers B.V., a subsidiary of Stolt-Nielsen S.A. (OsloBors: SNI), today announced that it has cancelled a contract with SLS Shipbuilding Co. Ltd. of South Korea for the construction of a 44,000 dwt coated parcel tanker, the first in a series of four ships, citing extended delivery delays. The ship was originally scheduled for delivery in May 200...
Danish oil and shipping giant A.P.Møller-Mærsk's CEO and other top executives have bought stock options worth DKK 12mn (EUR 1.61mn USD 2.09mn) in the group. The acquisitions were made as part of Mærsk's option programme, Logistics Finland reported. Source: Transportweekly
Local time March 15th, 2009 in Spain, Mr. Kang Shuchun, CEO of SHIPPINGCHINA.com, arrived at Malaga for a 3-day business visit upon the invitation of local government and Mr. Feronimo Perez, the president of Chamber of Commerce. During the meeting, Mr. Kang Shuchun, CEO of SHIPPINGCHINA.com, the senior m...
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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