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A P Moller-Maersk Group has posted a 2008 profit of US$3.4 billion, down from $3.5 billion in 2007. Revenue was higher at $61.2 billion, compared to $51.2 billion the previous year, due mainly to high oil and gas prices and freight rate increases in the container business, although mostly the result of recovery on bunker surcharges. Looking ahead to the...
A helicopter with 18 oil workers on board crashed in the Atlantic Ocean off Newfoundland on Thursday after reporting mechanical problems, Canadian media reported according to RIA Novosti. At least one person has been rescued from the water and taken to a hospital, while two other people were spotted in the water, a spokeswoman for the Rescue Co-ordinati...
Transit navigation at Volga-Baltic waterway is to start on April 30, 2009, the same date as last year, PortNews IAA learnt from Volgo-Balt State Basin Authority. According to the source, the Neva river will be open for navigation from April 15. As the agency learnt from Yuri Petrov, Director of Mostotrest SUE, the bridges at the Neva are supposed to be prep...
On March 13, Primorsk Shipping Corporation (PRISCO) took delivery of 51,000-dwt tanker Prisco Irina at STX Shipbuilding (S. Korea). The vessel’s crew is getting ready for the first voyage. Prisco Irina is 183 meters long and 32 meters wide. It took 8 months to build this double-hull tanker. The vessel is capable of breaking through 10-cm thick ice w...
The Marine Department and the Hong Kong Shipowners Association jointly hosted a luncheon and awards ceremony yesterdayto celebrate the Hong Kong Shipping Register (HKSR) crossing 40 million gross tonnage (GT) mark. The Chief Secretary for Administration, Mr Henry Tang, unveiled a Han Dynasty compass as a memento of the HKSR crossing the 40 million miles...
China's domestic LPG shipping capacity, or ship storage space, is expected to increase around 70% or 70,000 mt to 170,000 mt by 2010, compared with 100,000 mt in 2008, a senior official with the LPG Transport Committee of the Chinese Ship Owners' Association said last Friday. However, China will not need this additional LPG shipping capacity in 2010 becau...
Danish shipping lines will be updating its Samba service to sail around the Cape of Good Hope in both directions, by cutting its transit along the Suez Canal westbound from the Middle East and dropping the Mediterranean call of Algeciras and Dakar and adding Walvis Bay, Nambia. The new rotation will allow for transshipment between the Far East and Brazil...
Guangzhou Shipyard International Co Ltd (GSI), the largest shipyard in South China, witnessed a net profit decrease of 12.78 percent year-on-year due to losses in financial derivative products and cost increases. In 2008, business revenue of GSI increased by 17.83 percent to 6.85 billion yuan ($1 billion) but its net profit declined to 820 million yuan, ...
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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