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COSCO International Holdings has agreed to acquire from China Marine Bunker (Petro China) Co., Ltd. (Chimbusco) 100% equity interest in COSCO International Trading Company Limited (CITC) at a consideration of RMB142 million (approximately $161.454 million). CITC owns 40% equity interest in COSCO International Ship Trading Company Limited. Upon complet...
Exim News Service reported that Bharati Shipyard, a leading private sector shipbuilding company headquartered in Mumbai, has reportedly drawn up an outline of a mega shipbuilding project entailing an investment of INR 1,500 crore to be set up near Bhavnagar in Gujarat. The amount will be invested in 2 phases for the proposed yard which would be locate...
Neptune Orient Lines said today it has made an indicative non-binding offer for Hapag-Lloyd, following months of speculation that it will make a move for the German container shipping line owned by TUI AG. However, the Singapore-based parent of APL faces stiff competition from a group of Hamburg investors determined to keep Hapag-Lloyd in German hands...
Northrop Grumman Corp. said Tuesday it has won orders to supply electronic navigation equipment for 10 new ships to be built in China for Carisbrooke Shipping. Northrop's Sperry Marine business unit will supply the systems, which will be installed on the 7,600-deadweight-ton general cargo vessels at Jiangsu Yangzjiang Shipbuilding in South China. The ...
OOCL and NYK will next month enter tonnage on the U.S. East Coast/Indian Subcontinent Indamex service of APL, CMA CGM and Hapag-Lloyd. OOCL and NYK have been taking slots on the service since July. The vessels OOCL Kobe and NYK Cosmos are due to enter the service with departures from Karachi in Pakistan on Aug. 15 and 22, respectively. The two carrier...
In January-June, 2008, the revenues of JSC Sovcomflot increased by 27 per cent and exceeded USD 800 million (on the comparable figure for the same period 2007), the Sovcomflot President & CEO Sergey Frank told at the meeting of the Group’s Board of Directors. Sovcomflot Group of Companies operates one of the largest high-technology tanker fleets of the...
Warships of the Russian Black Sea Fleet and the Caspian Flotilla are giving the support to the troops of the North Caucasus military district on the Caucasian coast during the Caucasus-2008 exercises, Assistant Commander of the North Caucasus military district Lieutenant-Colonel Andrei Bobrun told Itar-Tass on Wednesday according to Itar-Tass. Warship...
Royal Caribbean Cruises Ltd, the world's No 2 cruise operator, reported a narrower quarterly profit on Monday due to a doubling of fuel costs, and announced a cost-cutting plan to save US$125 million a year. Too much of our profitability is being eroded by the increase in fuel prices, chairman and CEO Richard Fain said. Net income fell to US$84.7 ...
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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