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China Shipping Group, one of the country's largest shipping groups, will form a joint venture with Sinopec Group to ship liquefied natural gas (LNG) in a bid to cope with the growing demand for clean energy, according to sources. The setup of the LNG shipping joint venture is in line with China's latest move to launch a national energy bureau...
It is reported that China Shipping Development Co H1 of 2008 profit uo by 44% YoY as demand for vessels to transport fuels and metals rose in the world's fastest growing major economy. China Shipping Development Co in a statement to the Shanghai Stock Exchange said that its net income climbed to CNY 3.18 billion from a restated CNY 2.21 billion. M...
With the ceasefire in Georgia still unclear, tension between Russia and Ukraine is increasing. Ukraine has demanded to be informed of the movements of Russian warships based in its waters. Ukrainian President Viktor Yuschenko has ruled Russia will need to seek permission to move its Black Sea fleet from its Ukraine base. Under the rule, the Russia...
Maersk and Hamburg Sud will return to the port at Timaru, New Zealand, the Timaru Herald reported. The port stated the decision is unlikely to affect the recent restructuring which saw 30 staff laid off. Since Maersk and Hamburg Sud left the port, along with reductions to the Tasman Orient service and the withdrawal of Gold Star Line from New Zealand,...
Hanjin to start Japan/Korea dedicated feeder Aug. 24 Hanjin Shipping said Thursday that it is starting a dedicated feeder service between Korea and Japan on Aug. 24. The KJS (Korea-Japan Service) is a dedicated feeder using one 400-TEU vessel with a once weekly rotation of Busan, Tokyo, Osaka and Busan. The main purpose of this service includes ...
Seaspan Corp., the New York-listed container ship charterer, last week accepted delivery of its 31st vessel, the 2,500-TEU CSCL Sao Paulo. The new boxship is the second in a series of eight 2,500-TEU vessels being built by Chinese yard Jiangsu Yangzijiang Shipbuilding for charter to China Shipping Container Lines (Asia) Co. Ltd. The delivery date of A...
Stockholders of Marathon Acquisition Corp. have approved the proposed merger with Global Ship Lease, the ship-leasing unit of French shipping group CMA CGM. Following the closing of the merger, which is anticipated by the end of today, the resulting company, Global Ship Lease, will be listed on the New York Stock Exchange with assets valued at $1 bill...
German tourism and shipping group TUI AG today reported a strong second quarter performance by Hapag-Lloyd, the container shipping subsidiary it is in the process of selling. Buoyed by very healthy freight rate increases, especially in the major east/west arterial routes, Hapag-Lloyd saw its second quarter underlying earnings before interest, tax and ...
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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