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MOL has resigned from the European Liner Affairs Association (ELAA). The Japanese carrier also announced last week that it was withdrawing from two transpacific freight conferences, the Transpacific Stabilization Agreement and the Canada Transpacific Stabilization Agreement, effective Nov. 27. With the European Union's abolition of liner antitrust...
Seaspan Corp. reported a third quarter net loss of $5 million, compared to a net loss of $38.6 million in the same 2007 period. But the company said it remained confident about its containership chartering business. We recognize that the global economy and the credit markets are experiencing a period of unprecedented and extraordinary volatility. Howe...
The latest Department of Agriculture Grain Transportation Report said ocean shipping rates for shipping bulk grain have reached their lowest levels in five years amid a world economic downturn, as fears and uncertainties expressed themselves in the world markets, causing reduced demand for bulk shipments. As of Oct. 24, the cost of shipping grain from...
From January 1, 2009, all sea cargo bound for China will be subject to the 24-hour advance manifest rule. A manifest is a document that lists all cargo carried on a specific vessel, informed Exim News Service. According to the new regulation, sea carriers undertaking shipments to China must submit manifest details to Chinese Customs 24 hours befor...
Wartsila has signed major contracts with Aker Yards AS Soviknes and Aker Yards AS Trading - the recently established project development arms of the Aker Yards Group - for the supply of propulsion equipment for five offshore vessel projects being built in Norway, India and Brazil. The orders cover the supply of a total of 15 Wartsila engines, as well as p...
International Shipholding Corp. reported third quarter profit of $11.3 million compared $2.3 million for the same 2007 period. The company noted the 2007 third quarter results reflected losses from the company's discontinued LASH operations. Without those losses, earnings last year would have been $3.4 million. The Mobile-based carrier said revenu...
China COSCO Holdings Co. Ltd. said it had third quarter profit of 5.9 billion China Yuan Renminbi ($861 million), 15 percent more than the same 2007 period, but that container revenue was off even as volume increased. Profit attributable to shareholders was 5.6 billion RMB ($812 million), up 18 percent. Revenue was 33.2 billion RMB ($4.9 billion), 27 ...
Two ships have been involved in a minor collision in the English Channel, Dover Coastguards said. The two vessels collided at 0400 BST about 20 miles off the Kent coast, east of Ramsgate. No-one on the Egyptian-flagged bulk carrier, WadiHalfa, and the British-registered cargo vessel, Scot Isles, was injured in the incident. A Dover Coastguard spok...
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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