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Hyundai Corp bags Russian bonanza Qingdao: Hyundai Corporation has won a US$120 million order for ten 5,000-DWT dry cargo vessels from the Volga Baltic Company of Russia, it said Thursday. Chinese affiliate Qingdao Hyundai Shipbuilding will build the ship. “We won a huge order amidst a severe economic downturn in the shipbuilding industry,” Hyund...
United Arab Shipping Co, has joined CMA CGM, in implementing an emergency surcharge of $22 per teu on all containers moving through the Gulf of Aden effective from February 22. The Middle East carrier said the levy is necessary to cover additional costs due to increased insurance premiums, and other expenses incurred as a result of the escalating...
A Nigerian firm, Sifax Group of Companies, is discussing with Dubai Ports Authority, on the establishment of a modern port complex in Lagos. Managing Director of Sifax Group, Dr Taiwo Afolabi, told newsmen in Lagos that the Dubai authority had shown great enthusiasm in the proposed venture. Afolabi said the port would on completion, be the first direct re...
Hong Kong's Orient Overseas (International) Ltd (OOIL) volumes will decline 20-30 per cent in January and February because of the global economic downturn, according to company chairman Tung Chee-chen. To cope, OOIL, parent of Orient Overseas Container Line (OOCL), will reduce shipping capacity by up to 25 per cent in the first quarter, returning 13 t...
Independent Tankers Corporation announced that BP Shipping Limited ("BP") has extended the charter for the VLCC British Pioneer for one additional year. As a result the vessel will trade on a market rate with a minimum of $20,000 per day from January 2009 until January 2011. In February 2009, BP extended the charter for the VLCC British Progress for...
As part of its winter program, Zim Integrated Shipping Services is restructuring Transpacific Gulf Service, the AGX. During this period, Zim will return to a feeder operation to and from the Gulf ports of Tampa, Mobile and Houston utilizing its America’s transshipment hub, Kingston, Jamaica. Zim will continue to offer weekly service utilizing t...
Great Eastern Shipping Co. Ltd (GE Shipping) has contracted to sell its LPG gas carrier, Jag Vayu. The 1978-built, 28,400-dwt vessel will be delivered to the buyers in the last quarter of 2008-09. According to Exim News Service, the company’s current newbuilding order book comprises 10 vessels, aggregating 0.90 million dwt (2 LRI product tankers, 2 Su...
SINGAPORE shipping company Rickmers Maritime has posted profits for the fourth quarter ended December 31, 2008, of US$7.2 million, down 23 percent from the $9.4 million recorded for the same quarter in 2007. This is despite the containership owner's fourth quarter revenues increasing 76 per cent to $29.56 million, up from $16.79 million for the same p...
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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