Media
Media
Government-run Cochin Shipyard Ltd (CSL) has applied for Cabinet approval of an initial public offering (IPO) to raise Rs 800 crore to fund its expansion and for capital restructuring, reports the Business Standard. Part of the IPO proceeds would be used to create additional facilities to construct offshore vessels and tugs, which will ensure better margi...
Doosan Group has dropped its bid for Daewoo Shipbuilding and Marine Engineering. The bidding war over the biggest M&A market offering in the second half of this year will be waged by three rivals online -- GS Group, POSCO, and Hanwha Group. In a formal public announcement on Monday, Doosan said, We decided not to take part in a bid for the acquisition...
The Ethiopian Shipping Lines (ESL) has netted a 417 million Br profit during the just ended budget year, exceeding its target by 68pc. Compared to its earnings in the previous year, it is 40pc higher. The total revenue the carrier planned for during the budget year was 2.3 billion Br. However, the carrier gained 2.5 billion Br, a 33pc mark up from the...
Sovcomflot will change the group’s structure to separate the port businesses from other business areas. In October the new structure will take form, when every subsidiary in SCF Group will add SCF to their company names. Thus the group’s shipping companies will be renamed to SCF Sovcomflot and SCF Novoship. SCF Marpetrol and SCF Terminals are also part of...
Hong Kong-based shipping line CSAV Norasia will add the port of Lisbon, Portugal, to its ANE service from September 1. The Lisbon call will increase links between North and Central China and the Iberian Peninsula. The company stated one of the main benefits of Lisbon is that it provides a congestion-free gateway at the western point of mainland Eu...
Malaysian liquefied natural gas (LNG) shipper MISC Bhd yesterday reported a 9.2 per cent decline in first-quarter net profit, due to weaker container shipping demand due to the global economic slowdown. It earned a net profit of RM522.9 million (S$221.8 million) in April-June compared with RM575.6 million a year ago. Its shares fell more than 10 per c...
The Panama-registered merchant fleet, the world's largest since 1993. Ship numbers increased by 4.7% during the first six months of 2008 bringing the total fleet to 7, 965 vessels in June 2008 and taking aggregate gross tonnage to 177.09m gt, up by 5.4% in the first half of 2008. “The registration of newbuildings constituted 50% of the six month incre...
South Korean shipyard STX Shipbuilding said yesterday that it has won an order worth 322bn won ($310m) from a European client to build two oil tankers, writes Yonhap. The contract calls for STX to deliver the two Very Large Crude Carriers by March 31, 2012 to the unidentified client, the South Korean shipbuilder said in a regulatory filing. Sourc...
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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