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A group of vessel and shipbuilding interests involved in the U.S. coastal trades wants the Coast Guard to strengthen its enforcement of rules pertaining to vessel work performed in overseas shipyards. The second proviso of the Jones Act requires that U.S.-flag vessels be rebuilt in the United States to retain coastwise trading privileges. Whi...
A.P. Moller - Maersk has agreed to acquire Teekay's 50 percent share in Swift Tankers Management and become the sole owner of Swift Tankers. The deal includes taking over Teekay's portfolio of 13 intermediate vessels -- all of which are time chartered from a number of owners -- and thereby taking over Teekay's activities in the intermediates market...
Citing poor spot rates and high fuel costs, Jones Act tanker company U.S. Shipping Partners L.P. warned Wednesday it may fall out of compliance with certain financial ratio covenants with senior lenders as measured at the end of the second or third quarter. Shipping Partners also said it planned to negotiate with its lenders to amend the covenants i...
Reuters reports China State Shipbuilding Corp. will build eight container vessels for China Shipping Container Lines at a price of $560 million. The 4,250-TEU ships will be delivered between October 2011 and June 2012. Source: Americanshipper
South Korea Hanjin Shipping will June 19 start a weekly Malta-Adriatic Feeder (MAF) container service to connect with two deep-sea strings. The new service will use a single 1,000-TEU ship on a rotation of Malta; Koper, Slovenia; Venice, Italy; and Malta. The MAF loop will connect with the Mediterranean-Asia-America Pendulum (MAP) and Asia/...
Lois K. Zabrocky, 38, has been promoted to senior vice president of OSG. Since 2005, Zabrocky has led OSG's growing products business, which includes coated Panamax tankers, or LR1s, and medium-range handysize tankers that transport petroleum products and vegetable oils worldwide. Morten Artnzen, OSG's president and chief executive officer, s...
P&O Ferries have signed a letter of intent with Aker Yards for the building of two 49,000-ton car/passenger ferries at a total cost of 360 million euros ($551 million). The vessels would become the largest of their type operating in the English Channel with a length of 210 meters, capable of taking 1,500 passengers and having 2,700 lane meters of ...
A nationwide strike by South Korean truckers has all but shut down the East Asian nation's ports and cargo movement, the Korea Herald reported Friday. The strike was held to protest escalating fuel prices. Roughly 5,000 truckers, mostly seaport and factory drivers who are members of the Korea Cargo Transport Workers Union, walked out Thursday -- som...
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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