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Japan's largest liner NYK Line (Nippon Yusen Kaisha) has pledged to spend 70 billion yen ($638 million) over the next six years on technologies to cut fuel usage and pollution. The technologies include new engines, solar panels and plans to create an 'air cavity' between ship hulls and the waterline to reduce friction and fuel consumption, according t...
Helping finance its rapid expansion China Shipbuilding Industry Corporation (CSIC), one of China's two largest shipbuilding groups, today issued 3.5 bn yuan fixed-rate corporate bonds with a maturity period of seven years. The coupon interest rate is set at 5.6 percent. Source: http://www.seatradeasia-online.com
Grand Alliance carriers Hapag-Lloyd, MISC Berhad, NYK and OOCL said today they will switch their Mediterranean transshipment hub from Gioia Tauro to Cagliari International Container Terminal (CICT), in southern Sardinia, Italy. The move comes into effect in mid-September and will result in changes to the itineraries of the Asia-Europe/Med EU2 and U.S....
Malaysian carrier MISC Berhad has banned any of its vessels from entering the Gulf of Aden after two of its vessels were hijacked by pirates in August, international news agencies reported. Two MISC tankers were taken over off the coast of Somalia, with one crewmember dying in the first attack, on Aug. 19. A second attack came 10 days later, the eight...
Evergreen Line is putting an end to its Asia-East Mediterranean (AEM) service as market conditions continue to force freight rates downwards. The Taiwanese carrier only started the service last November although it has been running at reduced capacity for a number of months. In its most recent format, AEM operated with three ships averaging 2,842 TEUs...
International Shipholding Corp. said late Tuesday its management and board of directors would review a buyout offer from Liberty Shipping Group LLC and respond in due course. The Mobile-based company was reacting to a letter sent to its board members earlier in the day in which a Liberty subsidiary offered to buy all of the outstanding shares of Inter...
Shipping giant CMA-CGM has launched a new barge service to transport containers from Porto Velho municipality in Brazil's Rondônia state to Amazonas state capital Manaus along the Madeira river, Business News Americas reported. The containers will initially carry wood for export but they plan to start transporting meat and cotton through this route, w...
Gazprom and the Nigerian National Petroleum Corporation plan to set up a joint venture, the Russian energy giant said on Wednesday according to RIA Novosti. Gazprom CEO Alexei Miller and NNPC Managing Director Yar'Adua signed a memorandum of understanding in Moscow on Wednesday. The document envisions joint projects to prospect, produce and transp...
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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