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Nordic Tankers A/S reported a loss of USD 0.2 million for the first half of 2008 after a decline in the market for product tankers. However the all years result is expected to be of USD 22.4 million after the sale of the company’s largest and newest tanker Nordic Lisbeth. The tanker is sold for a price USD 19 million higher than the booked value for deliv...
Danish shipping and oil conglomerate A.P. Moller-Maersk on Monday said its Lindo Odense Steel Shipyard has put its Estonian unit Loksa Shipyard up for sale. Loksa, with about 700 employees, became part of Lindo in 1994 and is one of the world's leading manufacturers of hatch covers, Maersk said in a statement. The ownership of Loksa ... will not b...
Macquarie Group Limited said that shipbuilders will likely see new orders decline by 40% in 2008 as buyers can't get credit and slowing commodities demand reduces the need for investment in new vessels. It added that orders in the global shipbuilding industry will fall by a further 16% a year in 2009 and 2010. Shipbuilders are also paying more for steel p...
China Merchants Holdings (International) Co., the investor in ports moving about a third of the country's containers, boosted first-half profit 42 percent as China's rising exports fueled sea-cargo traffic. Net income climbed to HK$2.02 billion ($259 million) from HK$1.42 billion a year earlier, excluding discontinued operations, the company said in a...
Lithuanian state-owned railways and PKN Orlen's PKNA.WA Mazeikiu Nafta said on Monday they were arguing about transport tariffs, but the refiner said its operations had not been disrupted, Reuters reports according to RZD-Partner. Rail is the main means of transporting Mazeikiu's oil products to the Klaipedos terminal, some 100 km away, the refiner's...
China International Marine Containers (Group) Co. Ltd, the world's biggest shipping container maker, announced that it has acquired 29% stake in Yantai Raffles Shipyard Pte Ltd for US$327m. According to the supplemental agreement signed on August 27, the acquisition price will be US$4.00 per share, lower than the previously agreed US$6.92. CIMC will m...
China's National Development and Reform Commission has recently approved Tianjin, a municipality in the north of the country, to prepare for establishment of a CNY 20 billion shipbuilding industrial investment fund. It is the second industrial investment fund the city sets up after Bohai Industrial Investment Fund was launched. So far, Tianjin is the ...
China International Marine Containers buys 29% stake in Yantai Raffles Shipyard China International Marine Containers (Group) Co. Ltd, the world's biggest shipping container maker, announced that it has acquired 29% stake in Yantai Raffles Shipyard Pte Ltd for US$327m. According to the supplemental agreement signed on August 27, the ac...
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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