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Bloomberg reported that Chang Jiang Shipping Group Phoenix Co will order six bulk ships for CNY 1.7 billion on rising use of inland and coastal waters for cargo shipments. Wuhan, Hubei province based company in a statement to the Shenzhen Stock Exchange said that the 45,000 DWR vessels will be delivered between March 2011 and December 2011. Each ship ...
Neptune Orient Lines , undaunted by the global credit crunch, is seeking bold terms for a loan of up to $7 billion to finance a takeover bid for Germany's Hapag-Lloyd, banking sources said on Tuesday. NOL is seeking a covenant-lite two-year loan, with an indicative price of 150 basis points above London Interbank Offered rate, sources said. The premium ov...
VLCC timecharter rates on the trip from the Arabian Gulf to the east were estimated at around $195,000 a day, this time last week. This is a dramatic contrast to the same week in 2007, when rates were hovering around just $35,000 a day, according to New York broker Poten & Partners. So far this year, states Poten, there is no sign of the traditional softe...
The Kevin Rudd and John Brumby governments in Australia have won the right to shut down the Blue Wedges’ protest group opposing the US$978 million plan to deepen Melbourne's shipping channel, the Australian reports. The project, currently 20 percent complete, is intended to boost efficiency by allowing large freighters to enter and leave the port. ...
Annual output in Russia's sector of the Caspian Sea could reach 37 million metric tons (271 million barrels) of oil and 18 billion cubic meters of gas by 2023, a government official said on Wednesday according to RIA Novosti. Oil and natural gas output in the region has been restricted by the unclear status of the Caspian Sea - a source of long-runnin...
Maersk Line, the world's largest container shipping firm and a unit of Danish shipping and oil group A.P. Moller-Maersk , said the global shipping industry is expected to grow 7 to 8 percent this year. Asia is the factory of the world, so Asia doesn't grow anymore than the U.S. and Europe is willing to buy, Maersk Line's Asia Pacific Chief Executive Jespe...
Samudera Shipping Line has added a third Indian subcontinent feeder service with a fortnightly operation connecting Singapore, Chittagong and Haldia. The Chittagong Haldia Express (CHX) started July 10 from Singapore and uses one 1,100-TEU vessel. Samudera already operates two other Indian subcontinent feeders, the Chittagong Express (CGX) and the...
During exercises in the Japanese Sea, crews of battleships and auxiliary ships of Primorye branch of Pacific Navy (TOF) coped well with set tasks including test missile target gunnery, as the chief of TOF information and public relation service, captain Roman MARTOV reported to RIA Novosti. Exercises of Pacific Navy Primorye branch with participation of o...
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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