PIL and 'K' Line to restructure Asia to South Africa serviceDec 12, 2008

Pacific International Lines (PIL) and Kawasaki Kisen Kaisha (‘K’ Line) are to launch of a restructured weekly service from Asia to South Africa in early March 2009. The service will be jointly operated by the two lines and eliminates the involvement of MISC Berhad which had been the third party operating the service. The restructured weekly servi...

DryShips cancels $400 mln purchase of four vesselsDec 12, 2008

Due to the battered dry bulk freight market, greek bulk carrier DryShips Inc (DRYS.O: Quote, Profile, Research, Stock Buzz) said it cancelled its proposed $400 million acquisition of four Panamax type vessels in order to preserve cash. The deals were signed in July with entities beneficially owned by DryShips Chief Executive George Economou. ...

APL monthly volumes down Dec 12, 2008

Neptune Orient Line said its container line APL moved 169,700 40-foot equivalent units (FEUs) in the four weeks ending Nov 14, down 12 percent from the same period in 2007.    That reflects the deteriorating market for container shipping. For the year, APL volumes have been up 9 percent to 2.45 million FEUs.    The company said average revenue per...

Evergreen swaps Asia service's first U.S. call Dec 12, 2008

   Evergreen is switching the first U.S. port of call on its Asia-U.S. East Coast service from New York to Savannah, Ga., beginning in January.    The Taiwanese ocean carrier said the switch will reduce transit times from Asia to Savannah by six days, resulting in a 22-day transit time from Kaohsiung to Savannah. The first vessel to operate on the...

Hoegh will call in Ghana Dec 12, 2008

Outrage over tanker officers jail terms Dec 12, 2008

Managers of the Hebei Spirit, involved in a massive oil spill off the coast of Korea last December, and various trade organizations are expressing outrage over the jailing Wednesday of the tanker's master and chief officer. Today's decision by the Korean Appeal Court to find guilty the master and chief officer of the Hebei Spirit, an anchored VLCC whi...

NOL melds Asia operations into 2 regions Dec 12, 2008

 NOL, the Singapore-based parent of liner carrier APL, is restructuring its Asian operations.    Beginning Jan. 1, NOL's Asia-wide container shipping business will be coordinated through two, rather than the current three, regions within Asia. Under the new structure, the China region will be combined with the company's Japan and Korea operations...

Thoresen Thai Agencies to invest in up to three energy infrastructure ...Dec 11, 2008

Thoresen Thai Agencies (TTA), Thailand's largest dry bulk carrier, is looking to invest in up to three energy infrastructure projects in Southeast Asia as its core shipping business is expected to struggle until 2011, according to local media. Managing director M.L. Chandchutha Chandratat said TTA was considering establishing a holding company in Singapor...