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SHIPOWNERS' pleas to defer payments for ships being built has prompted Cosco Corp Singapore Ltd to issue a profit warning that its 2008 earnings will be fall short of the S$336.6 million (US$234 million) record set last year. That, plus higher costs from over-budget ships being built will also cut earnings, said the company. Cosco Corp Singapore s...
CONTAINER shipping lines in the Transpacific Stabilisation Agreement, which handle 85 per cent of Asia-US cargo, are seeking permission from the US Federal Maritime Commission to extend the group's authority to hold capacity talks. The 14 TSA members are calling for language to be added that would allow TSA members to discuss and reach agreements on c...
xSouth Korean ship captain Hae Wan Yang was sentenced Dec. 30 in U.S. District Court in Tacoma, Wash., to two months of home confinement in the United States and two years of supervised release for violating the Act to Prevent Pollution from Ships by knowingly failing to maintain an accurate garbage record book. In July 2008, Yang, who was captain ...
CMA CGM (America) said its containership Blue Whale will call at the recently opened Mobile Container Terminal on Friday, Jan. 2. The Blue Whale is one in a series 5,100 TEU vessels owned and operated by CMA CGM that comprise the weekly PEX 3 service form Asia to the U.S. Gulf Coast. The service includes calls at Shanghai, Xiamen, Chiwan, ...
The Germanischer Lloyd Group has acquired Berlin-based maritime consultant and software developer Friendship, the company said Friday. Friendship’s software division supports computer-aided engineering for ship hulls, propellers, turbines, and pumps. The consulting arm focuses on the fluid dynamics of ship design, with an emphasis on reduction...
Slowing consumer demand and problems of piracy make it apparent the Suez Canal will either leave toll rates as they are or lower them in 2009, Reuters reported Thursday. The canal authority will announce changes to its toll levels Monday, a few days later than normal (the tolls are usually revealed in late December). A host of uncertainties r...
A class action lawsuit on behalf of investors was filed on Dec. 31 in federal district court in Delaware against the Jones Act carrier Horizon Lines and five of its executives, including Chief Executive Officer Charles Chuck Raymond. The suit alleges the company deceived investors and “fraudulently inflated Horizon’s securities prices by enter...
EVERGREEN Line has announced the launch of its new combined weekly service with Sea Consortium Pte Ltd on the Arabian Express Service (ASX) that started on December 27. The new joint ASX will begin with the departure of the 700-TEU Martha Russ 108N from Colombo and will operate a weekly service with port rotation as follows:Colombo, Kandla, Mundr...
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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