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Norwegian ports can handle base operations for the Shtokman development much more efficient than Russian ports, which this week’s base activity in Kirkenes has shown, says leader of Norwegian Barents Secretariat Rune Rafaelsen. He urges Norwegian authorities to intensify the preparations of ports and infrastructure in the northern part of Norway. Thi...
The Russian government has initiated the elaboration of federal Law on the Arctic. In addition, the government wants to introduce new administrative borders for its Arctic zone. Several ministries have been commissioned with the task, among them the Ministry of Economic Development, the Ministry of Justice, the Ministry of Regional Development and the...
The notional value of tanker derivatives, or forward freight agreements (FFAs), traded via the International Maritime Exchange (IMAREX ASA.) and its clearing partner NOS rose by 88% in August compared to the same period last year. The Oslo-based exchange said the notional value went beyond the half a billion dollar mark while the number of transactio...
A South Korean cargo ship with Korean and foreign sailors aboard has been seized by pirates off the coast of Somalia, diplomatic sources said. Eight Korean sailors and an unspecified number of foreigners were on the ship when it was seized at 4:00 pm Korean time (0700 GMT), the sources said. The foreign ministry said it could not immediately conf...
Globus Maritime Ltd. has agreed to sell a handymax dry bulk carrier to Nikator Navigation SA for $52.25 million in cash. The vessel, Ocean Globe, was built in 1995 and is expected to be delivered to the new owner by the end of November. Globus said the sale will represent a capital gain of about $30 million having bought the vessel in July 2006 fo...
The CKYH Alliance of COSCO Container Lines, K Line, Yang Ming and Hanjin Shipping is about to end one of its all-water Asia/U.S. East Coast services, AWE-5 service, having only restarted the loop in May. The last voyage that will reach U.S. ports will be made by the Hanjin Piraeus departing Xiamen on Oct. 1. The AWE-5 in recent times has been opera...
Dubai's government is studying building a giant channel from the city on the Persian Gulf to the U.A.E. Port of Fujairah on the Indian Ocean to bypass the Strait of Hormuz, The Times reported Tuesday. The massive canal would be complex, as well as costly, to execute, but Dubai's government is said to be intrigued. It would cost roughly $200 billion, c...
The White House announced Tuesday that President Bush intends to nominate Maritime Administrator Sean T. Connaughton to chairman of the Federal Maritime Commission for a five-year term expiring on June 30, 2012. Management of the FMC has become a bigger issue because it has not had a full complement of commissioners nor a chairman since November 200...
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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