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Evergreen Marine Corp., Asia's biggest container shipping line, posted a 35 percent decline in second-quarter profit because of a near-doubling of fuel costs and losses from affiliate EVA Airways Corp. Net income declined to NT$829 million ($26 million) in the three months ended June 30, compared with a profit of NT$1.28 billion a year earlier. The fi...
Now it seems like Finland is finally getting its new tonnage tax legislation. When drawing up the budget estimates, the Finnish Government has decided to include a comprehensive support for shipping. The most important component will be the revised tonnage tax, which according to Mika Nykänen of Finnish Shipowners’ Association dramatically will improve th...
Shipping Corporation of India has decided to deploy its new container vessels in the India-Europe sector. The vessels are to be delivered in October. “We plan to deploy the new vessels in the India-Europe sector given the volumes in the sector. This will allow us an extra capacity of about 600 twenty feet equivalent units (TEUs) in each vessel,” Mr J.N. D...
Shipping Corp of India is working on reviving its proposed joint venture with the Oil and Natural Gas Corp and is also scouting for a third partner. We will begin dialogue with ONGC on the joint venture in about a week. We would also rope in a third partner for the joint venture, a senior SCI official told PTI. In March 2006, SCI and ONGC had signed a me...
In London, the October Brent Crude contract was down $0.12 on August 29 to $114.05 per barrel on the ICE Futures exchange. Light Sweet Crude for October delivery fell $0.13 to $115.46 on the New York Mercantile Exchange, Finmarket reports. Source: Portnews
Independent tanker company Euronav on Thursday reported first half net income of $205.3 million, a 51.5 percent increase compared to $135.5 million in the same period last year. The Antwerp, Belgium-based company posted operating profit after the first six months of 2008 of $238 million, up 37.8 percent, while revenue gained 38.7 percent to $456.3 mil...
European Red Sea African Lines (ERSAL), part of the Jordan-based Abu Rashed Group, has added calls at the Port of Baltimore to two roll-on/roll-off export services from the U.S. East Coast to Europe and West Africa. The full rotations of the two ERSAL services calling Baltimore are: U.S. to West Africa: Boston, Mass.; Wilmington, Del.; Baltimor...
Russian liner carrier Far East Shipping Co. said Thursday it has received a new 1,730-TEU ship from the Polish shipyard of Stocznia Szczecinska Nowa. The FESCO Vitim has three cargo cranes with 45-ton capacity, 200 reefer slots and a top speed of 19.7 knots. On Thursday, the ship made its maiden voyage to Hamburg to be loaded with cargo bound for St. ...
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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