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FESCO Transportation Group reports half-year audited consolidated IFRS results for the period ending June 30, 2008, showing strong year-on-year performance and solid business expansion under normal market conditions. 1H 2008 IFRS Highlights: Consolidated revenues to reach US$604 mln. (a 62% increase over 1H 2007). EBITDA to increase to US$163.4...
State-owned Singapore port operator PSA International said its Singapore terminals moved 8.8 percent more containers in the first 11 months of 2008 from a year ago. The firm, which runs ports in Singapore and overseas, said in a statement on its website ( www.singaporepsa.com ) that it handled 26.86 million twenty-foot equivalent units (TEUs), a...
China Cosco Holdings has more than doubled its losses on forward freight agreement contracts since September 30 to Yuan5.38bn ($785m) after dry bulk rates sunk to record lows in the fourth quarter. China Cosco said it had tried to lock in costs of chartered-in vessels which led it to purchase a “certain quantity” of FFA contracts in the third qu...
Yang Ming said Tuesday it will start a second East Mediterranean feeder service in January to link to its Asia-Med services into Port Said, Egypt. The Taiwanese carrier said the new service, the TIX2, will use two 1,800-TEU vessels with a port rotation of Port Said, Istanbul, Haydarpasa, Izmi, and Ashdod and Port Said. The service will be of...
MOL said home furniture retailer W.S. Badcock Corp. has selected its Hong Kong-based MOL Consolidation Service Ltd. as its buyer's consolidator in Asia countries, including China, Vietnam and Malaysia. W.S. Badcock, headquartered in Mulberry, Fla., has more than 300 stores, mainly in the Southeast, under the brand name Badcock Home Furniture & Mor...
Widdows is president and chief executive officer of the NOL Group, the parent of APL. Widdows has already served two 12-month terms as TSA chairman, following a January 2007 restructuring designed to involve member line senior managements more directly in the agreement day-to-day operations. He is also chairman of the World Shipping Council a Washi...
An ocean service connecting China and India is to be withdrawn, AXS-Alphaliner reported in its weekly newsletter Monday. The China Straits India (CSI) service operated jointly by Samudera, Evergreen and Yang Ming is to be closed, AXS-Alphaliner said. The service used five ships of 1,500- to 2,000-TEU capacities. Evergreen and Yang Ming...
Two container shipping giants, CMA CGM and Maersk, will join services linking Asia and the US east and west coasts in May. Leading France-based CMA CGM has 387 ships on more than 150 routes. It has 79 new vessels on order for delivery between 2008 and 2011. Maersk, a division of the A.P. Moller - Maersk Group, has more than 470 container vess...
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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