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Hong Kong-listed port operator, container manufacturing and leasing company Cosco Pacific has agreed to sell and lease back a fleet of containers to Commonwealth Bank of Australia for up to $250m. Cosco Pacific, which controls the world’s second-largest container leasing firm Florens, did not disclose the volume of the containers to be sold but said t...
The Supervisory Council of the Bulgarian State Privatization Agency approved Wednesday the sale of 70% of the Navigation Maritime Bulgare. In mid May the Agency and the buyer, the Bulgarian-German consortium KG Maritime Shipping, signed the agreement of the sale of the state-owned company for a total of BGN 440,1 M. 30% of the KG Maritime Shipping Company...
China Merchants Energy Shipping Co Ltd said first half net profit is expected to have risen by over 80 pct year-on-year. In a statement filed with the Shanghai Stock Exchange, the company said that the sharp profit increase is due to rising freight charges, the sale of two ships and lower operating costs. The company reported net profit of 470.03 ...
Tsuji Heavy Industries Co. plans to spend about 50 billion yen (US$472.45 million) to construct a shipyard in China's Zhejiang Province by next April, the firm's second shipbuilding facility since it entered this business in 2006. The new shipyard, to be established on 1.6 million sq. meters of land, will be capable of annually turning out 36 midsize...
European Union rules governing how governments can support shipyards will remain in place for another three years, the EU's executive said on Thursday. The state aid rules were introduced in 2004 and are now due to run until Dec. 31, 2011, the European Commission said. The Commission, which oversees the EU's state aid rules to ensure a level pla...
South Korea's Daewoo Shipbuilding and Marine Engineering Co said on Friday it had received a 2.44 trillion won ($2.34 billion) ship order from Danish shipping company A.P. Moller-Maersk. Maersk said on Thursday it ordered 16 ships from Daewoo with individual capacities of 7,450 TEU (twenty foot equivalent units) and capable of carrying a record 1,700...
Doosan Group, owner of South Korea's largest excavator maker, said that it may sell property and infrastructure assets to finance a bid worth US$3.5 billion to take over Daewoo Shipbuilding & Marine Engineering Co, senior vice-president Lee Sang Ha at Doosan Infracore Co made the comments to reporters in Seoul yesterday. The comments were confir...
OJSC Vyborg Shipyard plans to deliver its first floating drilling rig for the development of the Shtokman field in October 2010, the company's general director, Valery Levchenko, told journalists on Friday. This rig will be delivered in October 2010, he said. Levchenko said the laying of the first rig at Vyborg Shipyard took place on Friday. He added...
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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