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Brazilian mining company Vale has placed a US$1.6 billion order for 12 huge iron ore carriers from China's Rongsheng shipbuilder, and the vessels will be the biggest of their kind in the world, Vale said Sunday. Companhia Vale do Rio Doce SA said in a statement that the ships will be used to create a dedicated route to ship the company's iron ore from...
The shipping ministry has granted relief to state-owned Oil and Natural Gas Corporation on the issue of the age of vessels it hires, saving the flagship explorer's $8 billion investments planned to bring new offshore fields in the west and east coasts into production during the 11th five-year plan. The shipping ministry had recently issued guidelines ...
Mr Gerry Wang CEO of Seaspan said that container shipping is in good shape with the state of the industry quite healthy, despite economic uncertainties. But Seaspan is rejecting plenty of investment opportunities right now, convinced market conditions will moderate in its favor. It has looked at more than USD 3 billion worth of ship investment package...
China has the fourth largest maritime fleet in the world, and five ports have entered the world's top 10 in terms of throughputs, according to government department sources. Song Dexing, director of the water transport department of the ministry of transport, said China's water transport industry has made remarkable achievements in 30 years. As of...
Shipbuilding and repair firm Cosco Corp (Singapore), 53-percent owned by China's government, on Monday reported a 60 percent rise in quarterly profit, boosted by a booming ship repair and ship building business. Singapore-listed Cosco, controlled by the mainland's biggest shipping firm China Ocean Shipping (Group) Co, earned S$128.7 million ($94 milli...
Feeder operators serving the Port of Colombo from ports in India, Bangladesh, Pakistan and the Middle East will introduce a bunker surcharge increase on August 10, the Economic Times reports. The surcharge will increase to US$150 per TEU for all containers to and from Colombo, laden and empty. This includes the Bengal Tiger Line, Far East Shipping...
The world's benchmark super crude oil tanker rates from the Gulf to Japan have fallen to seven- month lows this week due to ample availability of vessels, traders said on Friday. Baltic Exchange data shows freight rates for very large crude carriers (VLCCs) in the export route from the Gulf to Japan fell to Worldscale 151 late on Thursday, dropping by...
Ocean freight rates between India and the United States are up 25 percent to 30 percent over the past few months as fuel surcharges and peak season surcharges kick in on contracts signed between American retailers and their shipping lines, Live Mint reported Sunday. The rate for shipping a container to the U.S. is currently $2,100-$2,200, up from abou...
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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