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Prices of new sea vessels may stay 'firm' for the next 12 to 18 months because raw materials for shipbuilding, including steel, are expensive to procure while demand remains strong, a ship broker said. The Maersk Broker Newbuilding Index may stay high after rising to a record in May as demand for vessels including large crude and bulk carriers is expe...
Park Chang Suk isn't waiting to learn what Daewoo Shipbuilding & Marine Engineering Co will be worth when the South Korean government sells the maker of oil tankers, submarines and ferries this autumn. The 35-year-old Mr Park, who oversees the equivalent of US$481 million at NH-CA Asset Management Co in Seoul, dumped his shares as orders fell by one-t...
Antwerp, Belgium-based shipping group EXMAR said Wednesday it has sold the 25,000-cubic-meter, fully refrigerated LPG/NH3 vessel, Carli Bay, built in 1998, to ABG Sundal Collier for a net sale price of $49.5 million. The vessel will be delivered to the new owners in mid-October following dry dock in Europe. EXMAR will realize a capital gain of abo...
Singapore-based ship leasing company First Ship Lease Trust is seeking to have its securities traded in the United States. FSL Trust Management Pte. Ltd., trustee-manager of the company, said it had filed a registration statement with the U.S. Securities and Exchange Commission to establish an American Depository Receipt program. ADRs would be traded ...
The British Broadcasting Corp., usually more interested in television boxes than shipping containers, today waved goodbye to a BBC-branded 40-foot box at the Port of Southampton, which it will track during a yearlong voyage across the world. A joint collaboration between the BBC and Container Shipping Information Service (CSIS), The Box project aims to gi...
Hanjin Shipping is reducing its workforce at its regional headquarters in Paramus, N.J., by about 60 workers in November and relocating workers to other locations. It's just the latest shipping company planning staff reductions in the New York area. Bill Rooney, managing director for the company's operations in North and South America, said jobs w...
German container lines Senator Lines and Hapag-Lloyd are to replace calls at Gioia Tauro in Southern Italy on their weekly Mediterranean/Canada MCA service with Cagliari instead. The last call at Gioia Tauro will be made by the vessel Power on Sept. 24. The Genoa Senator will call Cagliari for the first time on Sept. 30. The new port rotation of the M...
With John McCain's acceptance of the Republican Party's nomination for the presidency Thursday night, Christopher Koch said he is returning to his full time job as chief executive officer and president of the World Shipping Council. Koch, a former Sea-Land executive and chairman of the Federal Maritime Commission, took a leave of absence from the co...
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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