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Maersk Line announced plans to lower bunker surcharges imposed earlier on the trade from the Middle East and the Indian Sub-continent to the East Coast of South America. Effective February 1, the surcharges will be $55 (Dh202) per TEU (20-foot equivalent unit) and $110 per FEU compared with $80 and $160 at present, said the Danish carrier. In a separate n...
China Shipping Container Lines, the world's eight-largest container shipper, said 2008 earnings likely fell more than 50 percent as export cargoes from China fell and global shipping capacity growth exceeded demand. The company also said on Wednesday the surging cost of fuel in the first half of the year drove up costs. Source: www.reuters....
China Merchants Holdings (International) and Cosco Pacific, the two biggest mainland port operators, plan to cut capital expenditure for this year because of slumping demand for industrial products, the South China Morning Post reported. China Merchants, which operates and owns ports in western Shenzhen and invests in Shanghai International Port Group...
John W. Handy will retire as executive vice president of Horizon Lines Inc. at the end of the month. In a filing with the Securities and Exchange Commission made on Tuesday, Horizon said Handy has retired due to personal matters and entered into a consulting agreement. Source: American Shipper
The United Kingdom's Maritime and Coast Guard Agency said timber cargo that broke free from the Russian ship Sinegorsk when she listed to 15 degrees in the English Channel has started to come ashore between Dover and Margate. Up to 1,500 metric tons of sawn timber was lost from the deck of the vessel while on passage to Alexandria in Egypt fro...
The U.S. Coast Guard said there appeared to be no signs of damage or pollution from an 800-foot bulk carrier, the CSL Argosy, that ran aground in Chesapeake Bay while bringing a load of iron ore to Baltimore. The ship was successfully refloated and was undergoing inspection while at anchorage near Annapolis on Tuesday. The CSL Argosy re...
A.P. Moller - Maersk's Odense Steel Shipyard in Lindo, Denmark, is probably most famous for building the Emma Maersk and seven sister ships, the largest containerships ever built. But in an announcement on Wednesday, the yard said it is undergoing a reorganization, and while it will continue to build ships, it will concentrate on producing sma...
Maersk's wholly owned Swedish subsidiary Maersk Product Tankers now owns representing 96.2% of the capital and 97.6% of the votes in tanker company Brostrom following a render offer. Maersk had previously owned 36.4% of the shares and 22.7% of the votes in Brostrom and proceeded with the offer once the move was cleared by the European Commission....
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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