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German tourism company TUI AG said Sunday its supervisory board has approved the sale of its container shipping subsidiary Hapag-Lloyd AG to a Hamburg-based consortium of investors for 4.45 billion euro ($5.9 billion.)But TUI said it would retain a one-third interest in Hapag-Lloyd, which will be purchased for 700 million euros ($939 million). TUI also st...
Shipping organizations are calling for sustained coordination between all naval forces operating in the area around the Gulf of Aden because of the increase in piracy in the region. Meeting at the International Maritime Organization at the invitation of IMO Secretary General Efthimios E. Mitropoulos, members of the so-called Shipping Round Table -- BI...
Maersk Line said it would add a vessel to the rotation of the SAMBA service, which covers the trade from East Coast South America to Middle East. The additional ship will allow us to improve the schedule reliability and to run the vessels at an optimal speed, providing a more environmentally friendly transport due to reduced emissions. By adding a ves...
The British Royal Navy commander in the Gulf of Aden told The Telegraph that merchant ships should start adding mercenaries and visual deterrents to ships to ward off pirate attacks. The newspaper reported Tuesday that Commodore Keith Winstanley said the situation has gotten so dire in the waters off of Somalia that commercial vessels should be armed....
The discussion agreement among container carriers in the eastbound transpacific trade forecasts seasonal service reductions will be deeper than last year, and some carriers are carrying them out earlier than they did in 2007. Meanwhile, two carrier groups -- the New World Alliance of APL, MOL and Hyundai, and the joint service of Wan Hai Lines and Pac...
The UN Security Council passed a new resolution Tuesday to address the piracy problem off the coast of Somalia, but it differs little from a resolution passed in June authorizing joint governmental naval action. While shipping bodies around the globe have been denouncing what they consider a lack of resources dedicated to patrolling the key Gulf of Ad...
The container shipping industry is now going into reverse as the credit crunch impacts all the major economies, said Drewry Shipping Consultants. In a statement accompanying the release of its Annual Container Market Review and Forecast 2008-09, the London-based consultants said, with the supply/demand balance weakening, the management of capacity wil...
Evergreen Line, Yang Ming Marine Transport Corp. and Cheng Lie Navigation Co. Ltd. have started a new intra-Asia service covering ports in North/Central China, Hong Kong, Philippines and Java. The weekly intra-Asian service, known as CN1, calls at ports with the following rotation: Qingdao, Shanghai, Ningbo, Hong Kong, Manila North Port, Manila ...
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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