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It is reported that the slump in global trade is having a more severe impact than was expected on traffic through the Suez Canal, a crucial source of income for the Egyptian government. Despite the Suez Canal Authority efforts to encourage traffic through the canal, by temporarily freezing its tolls in early January, revenues for the first month of the ye...
CMA CGM, China Shipping, Maruba and K Line have announced that their jointly operated SEAS 1 and SEAS 2 loops will be merged into one single string as of March 26th 2009. “On the Asia – Latin America trade, November to June is traditionally a slack season,” said Jean-Yves Duval, CMA CGM deputy vp for Latin America lines. “In order...
South Korea's financial watchdog plans to focus on restructuring ailing shippers so as to prevent their default risks from further deteriorating the economic condition, Xinhua writes. The watchdog plans to urge creditor banks to wrap up their credit risk assessments on ailing shippers by early May to promote the government's restructuring move, the Finan...
A. P. Møller-Mærsk’s result in 2008 was almost at the same level as 2007, despite the changes in the group and high oil prices. The turnover was USD 61.2 billion (DKK 311 billion), profit before taxes and deductions was USD 16.5 billion (DKK 83 billion). The net profit was USD 3.5 billion (DKK 17.6 billion), compared to USD 3.4 billion ...
Mitsui OSK has adopted the Hawk Eye crane safety monitoring system on the transfer cranes at the Tokyo International Container Terminal. The system was developed by MOL subsidiary Nihon Engineering Co in co-operation with the New Japan Radio Co and Palgiken Co, and is the first such monitoring system in the world to use a microwave sensor. Microwaves, w...
FACING diminishing volumes, Tokyo-based K Line has ended its container shipping service to Oregon's Port of Portland from April 23, reports the Portland Business Journal. The move comes just seven months after port officials heralded the return of K Line's containerships to Portland after four years without direct access to Japan. K Line is disbanding...
CHINA's container handling volume through its ports and harbours posted a year-on-year decline in February, expanding the drop in January as the financial crisis continues to hurt the country's exports, reported Xinhua. The volume of containers handled by ports nationwide totalled 6.97 million TEU in February, down 17 per cent compared with the same mon...
Prime Minister Vladimir Putin will chair a conference on civilian shipbuilding during a planned visit to St. Petersburg, a government source said. Principal development criteria for the Russian civilian shipbuilding industry are planned to be considered at the conference a...
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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