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K LINE says it has reached an agreement with the holding company of Titan Quanzhou Shipyard Ltd (TQSL), a shipyard under construction in a suburb of Quanzhou, a city in Fujian province. Under the agreement, K Line will become a Primary Strategic Partner in this ship repair business by purchasing convertible securities equal to five per cent of the out...
Leading dry bulk shipping company Pacific Basin has invested $577 million in four roll-on/roll-off vessels that it believes will help address environmental concerns in Asia. Already in Europe, governments are keen to replace long-haul trucks with ro/ro vessels because the vessels produce lower carbon emissions than the trucks, per unit of cargo per mi...
International Maritime Organisation (IMO) has approved of improved shipbuilding standards aimed at passenger and cargoships. The new construction rules, designed to increase a vessel's chance of surviving an accident, were agreed at the IMO's committee on stability and load lines headed by the Australian Maritime Safety Authority (Amsa). They will...
A letter of intent signed in June 2008 between Aker Yards and P&O Ferries about building two large car-passenger ferries for the Dover-Calais service has now been turned into a firm contract. The total contract price for the ferries ordered is approximately EUR 360 million. The newbuildings are to be delivered in 2010 and 2011 respectively by the Rauma sh...
Shipping firm STX Pan Ocean said on Monday it would invest 219 billion won ($211.8 million) in two cape bulkers from 2010 to 2011. The country's biggest dry bulk shipper said in a filing to the Korea Exchange that the investment stemmed from its long-term plan to secure ships. In a separate filing, STX Pan Ocean said it posted a 63 percent jump ...
A further five potential bidders have shown interest in the Gdynia and Szczecin shipyards, and EU has extended its deadline for the privatisation with two weeks. The previous deadline was today, Monday. Today, there are one firm bidder for each yard. ISD Polska wants the Gdynia shipyard and Mostostal Chojnice has filed a bid for the Szczecin shipyard. ...
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...
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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