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Guangzhou Shipyard International Co said on Tuesday it plans a rights issue to fund the purchase of a shipyard for up to 3.1 billion yuan ($452 million) from its state-owned parent company. Guangzhou Shipyard will offer three shares for every 10 shares held by owners of its Hong Kong-listed H shares and Shanghai-listed A shares, at a price of no less...
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may climb for a 16th day because of a shortage of ships. There are 22 double-hulled very large crude carriers, or VLCCs, for hire within the next 30 days, according to a report from Barry Rogliano Salles. That's about eight fewer than the likely cargoes that still ...
The European Commission said on Tuesday it had adopted new competition guidelines for shipping liner companies. Liner companies are currently exempt from competition rules, but that arrangement expires in October. As from October 2008, liner companies will have to assess themselves whether their business practices comply with the competition rul...
Evergreen has appointed four agents in the Central/South America and the Caribbean region who will start work for the Taiwanese shipping group from July 16 The agencies and their areas of responsibility are: Servicios Navieros y Portuarios S.A -- In charge of cargo to/from Santo Tomas De Castille in Guatemala and Belize City in Belize. ...
Maersk Line has agreed to purchase the remaining 40 percent shareholding in Turkish agency Maersk Denizcilik from Merit for an undisclosed amount. Maersk Denizcilik acts as the agent for Maersk Line and Safmarine Container Lines in Turkey. The transaction, subject to approval by Turkish competition authorities, will become a wholly owned entity of the...
Far East Freight Conference carriers will increase their bunker and currency adjustment factors for August. The BAF applicable to the trades to and from the United Kingdom, Northwest Continent, Scandinavia and Baltic Sea and also the Mediterranean and West Coast European region will rise to $675 per TEU, from $610 per TEU. The currency adjustment ...
Rickmers-Linie, the Hamburg-based breakbulk, heavy lift and project cargo carrier, said Tuesday it has increased its order of multipurpose newbuildings from 10 to 14. The latest quartet has been ordered from Wuhu Xinlian Shipbuilding Co. Ltd. by Polaris Shipmanagement Ltd., a Rickmers Group company, and will be taken on long-term charter by Rickmers-L...
The European Commission has adopted guidelines for shipping companies as shipping conferences lose their block antitrust exemption. Given the importance of maritime transport of goods to so many areas of the European economy, I have to make sure that the sector is operating as competitively as possible, keeping prices down and quality of service high,...
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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