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It is reported that China COSCO Holdings Company Limited, a flagship subsidiary of China Ocean Shipping Company, started operating a newly established headquarters for bulk cargo on June 19th 2008. As per report, the listed company has been the world's largest dry and bulk cargo carrier since purchasing bulk cargo assets from its parent on December 29...
STX Group of Korea will launch a mandatory buy-out offer for Aker Yards, Europe's largest shipbuilder, after increasing its shareholding to above 40 per cent. The Korean shipbuilder, which is looking to diversify away from bulk carriers, acquired 39 per cent of the Norwegian group for $800m last October. STX Group announced yesterday that it had...
The European Commission said European Union (EU) Competition Commissioner Neelie Kroes has met trade unions on behalf of workers at the Gdynia, Gdansk and Szczecin shipyards in Poland. Kroes reiterated that restructuring plans due to be presented by the Polish government for the shipyards must ensure their long-term profitability, include adequate co...
The container fleet of FESCO Transport Group has reached 50 000 TEU. The container fleet is owned by all operators incorporated in the Group such as Fesco Lines Vladivostok, Fesco Container Services, Fesco Euroshipping, Fesco Ocean Management and Dalreftrans. The container fleet of FESCO is available in the ports and cities in Russia and CIS, South Ea...
Container ship company Global Ship Lease Inc is still planning to spend US$1 billion on new ships in the next 18 months and can still use its business model to obtain financing, despite the global credit crunch, the company's top executive said on Tuesday. 'Credit conditions are definitely tighter than they were a year ago,' CEO Ian Webber said in a ...
Greece's shipping sector revenues is expected to grow by 8 per cent this year, according to a report revealed by the National Bank of Greece on Tuesday. The report, focusing on the outlook of global shipping, said net shipping revenues totaled 17 billion euros in 2007 (S$36.22 billion), or 7 per cent of the country's gross domestic product, covering 2...
South Korean shipbuilder Hyundai Mipo Dockyard Co., an affiliate of Hyundai Heavy Industries Co., said on Thursday it won a 302.3 billion won ($292 million) contract to build seven bulk carriers for an unnamed shipowner in the Middle East. The contract amount, which is equivalent to 10.6 percent of revenue the company earned last year, will last unti...
Annual meeting of the shareholders of the Joint Stock Company Volga Shipping has considered and approved the company’s financial results for 2007. In the reported period, the net profit of Volga Shipping amounted to RUR 278.120 million. The shareholders have approved the dividends to the amount of RUR 57.69 per preferred share and RUR 18.50 per ordinary ...
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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