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NYK has opened a new office in Russia; OOCL has opened a new office in China. NYK opened a new representative office in St. Petersburg, Russia on August 1st, which will focus on promoting logistics, liner, car transport, harbour and bulk and energy transport services throughout the Northwest Federal District. The NYK Group already has a liner subs...
State-owned Kuwait Oil Tanker Co (KOTC) has signed with South Korea's Daewoo Engineering & Construction a letter of intent to build four very large crude carriers for $700 million, KOTC's chairman said on Monday. The final contract will be signed on Aug.21, Nabil Bouresli told Reuters, adding delivery would be in end 2011 as part of a fleet renewal pl...
In London, the September Brent Crude contract was down $0.66 on August 11 to $112.67 per barrel on the ICE Futures exchange. Light Sweet Crude for September delivery down $4.82 to $114.45 on the New York Mercantile Exchange, Finmarket reports. Source: Portnews
Dry bulk owner STX Pan Ocean has posted a record $457.8m profit for the first half of 2008, up 156% on the corresponding 2007 period, on sales of $4.9bn, up 115%. Higher freight rates, increased charters and an expanded fleet all contributed to the dramatic improvement. Commenting on the results, Lee Jong Chul, vice chairman and ceo of STX said, Our e...
The newly injected capital will enable Zim to move forward with its strategic program and to expand its containership fleet Israel Corp. Israel’s largest holding company and a global player with core holdings in fertilizers and specialty chemicals, energy, shipping and transportation, said last week it had purchased 10.4 million shares of its shipping...
Ukraine wants Moscow to agree to a deal restricting the use of Russia's Crimea-based Black Sea Fleet in armed conflicts, a top Ukrainian diplomat said on Monday, following Russia's deployment of warships near Georgia. Ukraine, whose pro-Western leadership shares the NATO ambitions of Georgia, threatened on the weekend to refuse to allow the Russian ve...
Mersey Docks owner Peel Holdings is embarking on plans to link Liverpool with Manchester via the Manchester Ship Canal, the Liverpool Echo reported. Liverpool docks and the canal handle about 15,000 ship movements a year, accounting for more than 100 million gross registered tonnes. Mersey Docks already began a barge service connecting Liverpool's...
In Q2 2008, net profit of PRISCO (Primorsk Shipping Corporation (Singapore)) amounted to RUR 50.807 million (up 1.9 times, year-on-year), the company’s report reads. In the reported period, the revenues totaled RUR 110.058 mln (compare with 133.9 mln in Q1). As of today, PRISCO operates 19 tankers with total deadweight exceeding 1.350 million tonnes...
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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