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Following the success of a previous vessel sharing agreement, Danish carrier Maersk Line announced the establishment of a new Vessel Sharing Agreement (VSA) with French-based CMA-CGM utilizing both the Panama and Suez Canals, which will commence in May 2009. Additionally, further adjustments to the Maersk Line network will provide customers with sign...
The hijacked Saudi supertanker Sirius Star has been moved from the port of Haradheere to an unknown destination, an official of the Transitional Federal Government (TFG) of Somalia said Sunday, citing information from tribal leaders and mediators negotiating with the pirates, the Saudi Gazette reported. However, the claim could not be verified from po...
Over 400 brokers and shipowners attended a meeting at the Baltic Exchange last week to address a perceived “crisis of confidence’ in the dry bulk market. The move followed the collapse of dry bulk rates, as reflected Baltic Dry Index which had fallen from its record high of 11,793 points in May to just 815 points, its lowest level since 1999. Ex...
A serving crew member on the Nerpa nuclear-powered submarine, on which 20 people recently died, has been charged with criminally negligent homicide, a Russian top investigator said Monday according to RIA Novosti. Alexander Bastrykin said the charge for Dmitry Grobov, the submariner suspected of mishandling a temperature sensor on board the submarine ...
COSCO Pacific said this week that throughput for its 20 terminals was up 14.1 percent in October compared to the same month in 2007. In raw numbers, the China-based terminal operator saw volume climb from 3.4 million TEUs to 3.9 million TEUs during the month. Meanwhile volume year-to-date has climbed 20.7 percent, from 31.6 million TEUs to 38.1 milli...
Ukrainian and Russian transport specialists have touched upon the issues of shipping in the Kerch Strait, press service of Ukraine’s Ministry of Transport and Communications reports. During the talks it was stressed on the necessity to create a regional system of safety of shipping in the water basin of the KerchStrait. The Ukrainian and Russian party ach...
PRISCO tanker, which will be named “Zaliv Vostok” was floated out on Hyundai Heavy Industries, Ulsan (Republic of Korea). According the information of executive director PRISCO Konstantin Globenko, during two month till the delivering of the vessel she will be full outfitted with all necessary equipment and run sea-trials. Vessel with double hull and 1...
A top executive of China Shipping Container Lines said Tuesday that freight rates from Asia to Europe have tumbled to the lowest level in the firm's history and that the global financial downturn has left the outlook for demand and rates grim. Fuel prices have come down but the U.S. financial turmoil has spread to other economies, CSCL managing dir...
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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