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South Korea's government and banking industry may restructure the shipbuilding sector that is struggling with weak global economic growth, Yonhap News reported, citing unidentified government and financial industry officials. The government and banks may provide financial assistance to shipmakers facing temporary difficulties, while requiring liq...
The tanker, which is building for PRISCO on Hyundai Heavy Industries, Ulsan (Republic of Korea) was floated out. The vessel is under all necessary outfitting now. It is planed, that in two months she will be delivered to the charterer. According the information of executive director PRISCO Konstantin Globenko, this is the third vessel from the si...
IMO has launched a campaign to address the global shortage of seafarers, especially officers, which, the UN agency says, “threatens the very future of the international shipping industry”. The move is being taken association with the International Labour Organization, the “Round Table” of shipping organizations - BIMCO, ICS/ISF, INTERCARGO and INTERT...
News of the hijacking by Somali pirates of the 319,430 dwt Liberian-flag VLCC Sirius Star helped push up the price of crude oil yesterday. US light crude for December contract rose 2%, or US$1.24 a barrel to $58.28 while Brent crude rose 27 cents to $54.51 a barrel. The hijacking of the Saudi Arabian-owned tanker has caught the attention of the w...
Agility recently officially inaugurated new facilities at its new logistics centre in Budapest. The opening of the centre is another milestone in Agility's expansion into the Central and Eastern European markets, which has lately seen the start of operations in Austria, Slovenia and Poland. With its well-developed road network and central pos...
CMA CGM will optimise its services operated in partnership with Hamburg Süd and Hapag Lloyd on the North Europe / Caribbean / West Coast of South America routes. From January 2009, the three partners will deploy eight 1,700-2,000 TEU vessels within the jointly operated ES 2 service, offering weekly coverage of the following ports: Rotterdam > Ham...
The Ministry of Economic Affairs (MOEA) in Taiwan will release 51% stake in the state-run CSBC Corporation (China Shipbuilding) by the end of this year, marking it the largest initial public offering for 2008 so far. Fubon Securities Co. will handle the issuance of 33%, or approximately NT$3 billion (US$90.9 million at US$1:NT$33), of the CSBC shares....
Two of the world's largest container shipping lines, CMA CGM and Maersk, are to set up a new vessel sharing agreement on the struggling Asia-Europe trade. It is a stunning development on a trade route that has been decimated by a slowdown in consumer demand in Europe and the corresponding slowdown of China exports. Maersk will join CMA CGM as...
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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