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The European Commission on Wednesday ordered Hellenic Shipyards to pay a €230 million (US$363 million) subsidy back to the Greek government with interest, saying the money gave the company an unfair commercial advantage over rivals. Regulators said Greece broke state aid rules with a series of payments, loans and guarantees to the troubled former sta...
Shri P Tamilvanan, Chairman, NMPT expressed happiness over the performance of the Port in attracting container traffic through New Mangalore Port. For the 1st quarter of the Financial Year 2008-09, Port handled 7559 TEUs as against 3713 TEUs handled for the same period of last year which is 103% more. He has attributed the reasons for the increase to the ...
The Caspian Pipeline Consortium (CPC) reduced oil shipments via the Russian port of Novorossiisk 6.5% year-on-year in the first half of 2008 to 16.564 million tonnes. June shipments were 2.655 million tonnes - down 4% year-on-year and 1% less than in May 2008, Interfax reports according to RZD-Partner. The 1,580-km CPC pipeline runs from the Teng...
International Shipholding Corp. said June 25 that Dry Bulk Cape Holding Inc., a company in which it has a 50 percent interest, concluded the sale of one of its Panamax bulk carriers ISC's said its share of the gain is about $15 million. Because of an amendment to secured loan facility agreements of Dry Bulk Cape Holdings, ISC said its share of the...
The world's largest lessor of intermodal containers said it has increased the size of a key loan. Textainer Group Holdings Ltd. said its Textainer Marine Containers Ltd. subsidiary extended and increased the size of its securitization facility from $300 million to $475 million. The interest rate is 1.25 percent over LIBOR during an initial two-year re...
TUI AG, the parent company of Hapag-Lloyd, said tanker tycoon John Fredriksen has informed it that he now owns more than 15 percent of the voting shares of the company's stock. Fredriksen chief executive officer of the tanker company Frontline, said he holds the voting rights through several companies he controls. He has been highly critical of the le...
The Asian Shippers Council (ASC) has called on governments in the region to take decisive action to stop anticompetitive behavior among container shipping companies following an Emergency Bunker Surcharge (EBS) introduced by eight lines operating in the Taiwan to Hong Kong-South China trade. The ASC said the eight companies -- OOCL, Wan Hai, Evergreen...
Denmark's A.P. Moller - Maersk Group has ordered 16 containerships with a declared capacity 7,450 TEUs each from Daewoo Shipbuilding and Marine Engineering Co. Ltd. in South Korea. As usual with Maersk no financial details were disclosed. The vessels are to be delivered in 2010 through 2012 and will be assigned to the trades between the East Coast of ...
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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