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THE Indian government will establish a INR100 billion (US$2.1 billion) fund to extend low-cost credit to shipping companies to buy new ships. Shipowners in the subcontinent have been severely hit by the lack of ship finance for vessel acquisitions, and the fund is expected to tide the shipping industry over the liquidity crisis. Most ship fin...
In January-November 2008, cargo turnover of the Murmansk region’s transport company grew by 5.1%, year-on-year, to 40.6 bln t-km, Murmansk statistics agency reports according to PRIME-TASS. Cargo turnover of motor transport fell by 21.6%, year-on-year, to 307.5 mln t-km, that of maritime transport – climbed by 10.7%, year-on-year, to 26.292 bln t...
South Korea's state-run Korea Development Bank said Sunday it will delay finalising a deal to sell the world's third largest shipyard, Daewoo Shipbuilding and Marine Engineering. The signing of the final contact to sell the shipyard to preferred bidder Hanwha Group, originally due on Monday, has been pushed back by one month until January 30, 20...
Federal Tariff Service of the Russian Federation has left tariffs for container transportation unchanged in 2009 while tariffs for other types of transportation are to grow by 5% from January 1. According to Gudok, the decision was taken because of the decrease of container flow. Apart from this, FTS notes the fall of freight costs when speaking abou...
Investigators are trying to determine why a liquefied natural gas tanker temporarily lost power 45 miles east of Boston and 16 miles northeast of Provincetown early Sunday. It was the second such incident in the region involving an LNG tanker this year. The 920-foot tanker Suez Matthew was carrying 31 people and a full load of LNG from Trinid...
About 165 containerships, with capacity of 430,000 TEUs, are idle, according to a Dec. 21 count by the information service AXS Alphaliner, up from 300,000 TEUs two weeks earlier. Alphaliner said there has been a surge in layups in the past two weeks as several Far East-Europe loops have been suspended or closed. In its weekly newsletter, A...
A new report forecasts that as much as 25 percent of the container cargo moving through U.S. West Coast ports may switch to all-water routings through the Panama Canal shortly after the expanded waterway opens in 2014 or 2015. The report from the Dutch firm Dynamar, called Panama Canal Container Trades: Past, Present and Future, predicts that...
A Chinese naval task force left a military base in the southern city of Sanya on Friday to take part in international efforts to combat Somali pirates in the Gulf of Aden, RIA Novosti reports. The two destroyers, Wuhan and Haikou, and the support ship Weishanhu have about 800 crew members, including 70 soldiers from the Chinese navy's special for...
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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