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Sembcorp Marine said its wholly-owned subsidiary Jurong Shipyard has won a $200m contract to convert a very large crude carrier into a floating production, storage and offloading vessel. The vessel is due to be delivered by the first quarter of 2011 to MODEC, a general contractor specialising in floating production systems, Sembcorp Marine said i...
Shipbuilding orders will fall by 60% next year and newbuild prices will drop by 30% from their peak by 2010, according to Bao Zhangjing, chief researcher at China Shipbuilding Economy Research Center (CSRC) in Beijing. Speaking at the Asia Ship Finance and Leasing Forum in Shanghai, Bao said that “owners will not order as long as they believe pri...
The Russian government will be revising power, natural gas, and rail transportation tariffs promptly, depending on the situation on the market, First Deputy Prime Minister Igor Shuvalov told journalists today according to RBC. Commenting on reports in the media that the Economy Ministry had suggested lowering the upper limit for power, gas, and railw...
The Somali ambassador to Moscow said on Wednesday that Ukraine and all sides involved in negotiations to free ships seized off the east African coast need to cooperate with the Somali authorities, RIA Novosti reports. Somali pirates have attacked at least 90 ships so far this year, resulting in the seizure of around 39 vessels, currently up to 280 cre...
Shipping Corp of India has postponed its 50-billion rupees expansion plans by at least six months and is eyeing the second-hand ship market as prices have fallen almost 70 percent, the DNA newspaper reported on Tuesday. The plan to acquire four capesize vessels - ships that can sail through the Cape of Good Hope on the Horn of Africa - for $600 milli...
Hong Kong-based Seaspan Corp. said Tuesday it has accepted delivery of the CSCL San Jose. The 2,500-TEU containership, constructed by Jiangsu Yangzijiang Shipbuilding Co., brings Seaspan's operating fleet to 35 vessels with 33 additional new vessels to be delivered over the next three years. Seaspan said the CSCL San Jose is subject to a ti...
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 reven...
China Ocean Shipping Group (COSCO), China’s largest shipping company, cancelled the plan to purchase some 120 vessels in 2009, a source from the company told Caijing. According to the original plan, three-quarters were dry bulk cargo ships and the remainders were oil tankers and container carriers. The ambitious purchase plan, which was proposed ...
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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