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With aggressive growth plans, Great Eastern Shipping has outlined a capital expenditure of $1.5 billion on fleet expansion in the next three years. The investment would be equally distributed on the shipping division and the offshore subsidiary Greatship India, and would be funded by a mix of debt and internal accruals. With an outlay of $780 million for ...
The Shipping Ministry is re-examining the Government stance of disallowing foreign flag vessels over 25 years to sail in Indian waters. This move follows strong representations from oil exploration companies such as Oil and Natural Gas Corp and Reliance Industries, which have expressed serious concerns, pointing out that these norms would severely hit the...
Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its Morskaya-1 exploration well in the Lagansky block, situated in the northern Caspian Sea has encountered a major oil accumulation in the Aptian and Neocomian sandstone reservoirs. Minor amounts of gas were encountered in the overlying Albian reservoir. Morskaya-1 has been drilled to a d...
Finland based Containerships has redirected its cargo flows from the port of Liepaja to Klaipeda harbor. Earlier the company cooperated with both ports. As RZD-Partner learnt from Klaipedos terminalo grupe (KTG, Lithuania) handling containers in the port of Klaipeda, the agreement on cooperation with Containerships has been in force for several years ...
International marine services company Inchcape Shipping Services has announced senior appointments for its recently launched operations in Nigeria, West Africa. Noel Holland is Inchcape's general manager for Nigeria based in Lagos. Usman Khan is finance manager, while Remi Rameau is managing the Port Harcourt branch office. Inchcape said Holland j...
Federal prosecutors in South Korea on Sunday requested an arrest warrant for the country's former minister of maritime affairs over bribery charges, Korean newspapers reported. Kang Moo-hyun, 57, served as minister under former president Roh Moo-hyun from May 2007 to February 2008. Kang is the first official to be formally linked to a widespread bribe...
Online ocean trade Web portal INTTRA on Monday said Valerie Rainey has been named its new chief financial officer. Prior to joining INTTRA, Rainey was director of finance at Pitney Bowes in its international mail services division, where Rainey integrated acquisitions, streamlined processes, instituted internal controls and Sarbanes-Oxley compliance ...
A/S Dampskibsselskabet TORM, a Copenhagen, Denmark-based carrier of oil products and dry bulk goods, has raised its pre-tax expectations for 2008 after reaching an agreement to sell a product tanker at a very satisfactory price. TORM said it expects delivery of the 1995-built, 45,000 deadweight ton TORM Gotland to its unnamed new owner in September or...
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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