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During a meeting with Hyundai Corporation's President Noh Young-Don, Transneft's management discussed the South Korean company's possible participation in the construction of the Eastern Siberia-Pacific Ocean (ESPO) pipeline's second stretch, the Russian oil transportation company's press office reported today. At the moment, the ESPO project does not ...
The Neustrashimy patrol ship of the Russian Baltic Fleet returned to the Baltiysk naval base from the Gulf of Aden on Sunday, Itar-Tass reports. The ship had been providing security of Russian and foreign commercial vessels off the Horn of Africa for more than four months. The area is notorious for pirate assaults. “We are proud of our sailor...
Maersk Line announced plans to raise bunker fuel surcharges imposed earlier on cargo moving on its services between the Middle East, the Indian Subcontinent, including Bangladesh, the Red Sea and Europe. Effective March 1, the surcharges will be $150 (Dh551) per TEU (20-foot equivalent units) and $300 per FEU (40-foot equivalent units), up from $140 ...
Retail container traffic at major U.S. ports is forecast to fall 11.8 percent in the first half of 2009 as the global economic downturn bites into shipping volume, industry watcher Port Tracker reported on Friday. In 2008, retail container volume fell 7.9 percent, according to Port Tracker, issued by the National Retail Federation and consultancy IHS...
Zim Integrated Shipping Services said it is conducting negotiations with shipyards with the goal of canceling the purchase of a portion of the ships that it has ordered or to defer delivery dates. Israel Corp., which owns 99 percent of Zim, said in a letter to the Tel-Aviv Stock Exchange Thursday that it is also seeking to reschedule part of payments ...
OOCL on Friday christened the seventh Panamax class vessel in a line of 16 4,500-TEU vessels ordered from Samsung Heavy Industries. The Hong Kong carrier didn't specify where the new vessel, OOCL Norfolk, would be deployed. Panamax class ships are exceptionally versatile, OOCL said in a statement. They can be used in most trades, including t...
The European Commission said Friday it has approved the proposed acquisition of Hapag-Lloyd from the tourism company TUI AG by an investor group based in Hamburg that includes Kühne Holding AG, and HGV, a holding company for business activities of the City of Hamburg. After examining the operation, the commission concluded that the transaction would n...
Stock markets across Asia got to work today buying as much bulk shipping stock as they could as a pattern became a trend – the ascendancy of the Baltic Dry Index. The Baltic Dry Index, a measure of shipping costs for commodities soared 14 percent in London yesterday to 1,498 points, extending a 15 percent jump on the previous day, to the highest ...
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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