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Grand Alliance member lines Hapag-Lloyd, MISC Berhad, NYK and OOCL said they have decided to suspend their EU5 Service between Europe and Asia. The change, effective immediately, is in response to the global economic slowdown that has led to reduced customer demand, said a press statement. Preliminary plans are that the suspension will last un...
Jones Act carrier Horizon Lines Inc. reported a fourth quarter net loss of $18.8 million, compared to profit of $10.7 million in the same 2007 period. The company said the results for the period ended Dec. 21 reflected an impairment charge, restructuring charge and antitrust related legal expenses totaling $32.4 million pre-tax. A...
MOL said it is revising its earnings forecast downward for the current fiscal year because of significant drops in the dry bulker market, containership freight rate market and cargo trade, and seaborne trade of completed cars. The company said it now expects to have a consolidated profit of 130 billion Japanese yen ($1.45 billion) in the fisc...
FRENCH shipping group CMA CGM has unveiled plans to launch an upgraded version of its Amerigo Express service that links the Mediterranean and the US East Coast starting March 12. The service will be operated in partnership with Maersk Line and will replace the current Amerigo Express service that CMA CGM operates in partnership with Evergreen. Th...
NYK Line said it has nearly halved its profit forecast for the fiscal year ending March 31. Japan's largest carrier said it now expects to have a profit of 73 billion yen ($811 million) instead of the 140 billion yen ($1.55 billion) it was predicting earlier. NYK made the announcement as it reported a profit of 18.9 billion yen ($...
Kawasaki Kisen Kaisha reported consolidated net income of 40.7 billion yen ($447 million) in the nine months ending Dec. 31, compared to 68 billion yen ($759 million) in the same 2007 period. Revenue for the nine-month period was 1.05 trillion yen ($11.6 billion) compared to 985 billion yen ($11 billion) in the same 2007 period. The company ...
APL has consolidated four U.S. regions into three as part of an overall effort to restructure its Americas business. The liner carrier, a subsidiary of Singapore-based NOL, has divided oversight of its southern region activities among the existing eastern and central regional offices, effective Feb. 1. The southern region includes 14 states...
Great Eastern Shipping Co. Ltd (GE Shipping), which had signed a contract to sell Jag Rahul, a Supramax dry bulk carrier in December 2008, has terminated the contract, Exim News Service reported. The 2003-built, 52,364-DWT vessel was to be delivered to the buyers latest by this month-end. The sale of the vessel will not be concluded on account of ...
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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