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Foreign shipowners are asking the Indian government to rethink a recent ban on vessels older than 25 years operating in Indian waters during the country's monsoon season. The ban, announced by the Ministry of Shipping last week, was intended to prevent casualties involving vessel accidents, particularly during the treacherous summer monsoon months, a ...
Maersk Line said Friday its new method for calculating fuel surcharges will take effect July 1 for the transatlantic trade. The Copenhagen, Denmark-based carrier's bunker adjustment factor for both dry and refrigerated containers will become: Eastbound: $115 per TEU, $230 per FEU. Eastbound (origin U.S. West Coast only): $170 per TEU,...
German ocean carrier Senator Lines, majority owned by Korea's Hanjin Shipping, today said its operating income returned to positive figures last year after a painful 2006. The Bremen-based company reported an operating result of $14 million for 2007 but declined to provide comparable figures for the year before. Hans-Hermann Mohr, Senator Lines' c...
Safmarine Container Lines last week named its second post-Panamax 6,160-TEU container vessel at the Hanjin Heavy Industries shipyard in Busan, South Korea. The 299.5-meter long vessel, Safmarine Komati, will join sister-ship Safmarine Kariba, named in April, on a joint Europe/Middle East/India service with A.P. Moller - Maersk affiliate Maersk Line, w...
Maritime Capital Shipping Ltd, a Hong Kong-based dry bulk shipper, aims to raise roughly $300 million in a Singapore initial public offering, a person familiar with the matter said. The company kicked off pre-marketing on Monday, and plans to begin bookbuilding on June 20 ahead of pricing in early July in a deal handled by UBS, the person said. So...
Poland's economy minister says the government is working to meet EU demands that it privatize its major shipyards by the end of June. The Polish PAP news agency quotes Waldemar Pawlak as saying the government is taking steps to meet the deadline and possibly fast-track the privatization of the Szczecin shipyard. It reports that Pawlak said in Szczec...
The cost to transport crude oil from the Caribbean on Aframax tankers fell as port delays eased, freeing ships for new voyages. The availability of ships may drive rates lower this week. Vessels on Friday were hired for an average rate of Worldscale, or WS, 357.5, an 11 per cent decrease from May 23, according to Houston-based Lone Star, R S Platou and...
Germany plans to spend EUR280 million (US$439.2 million) on raising the capacity of the 98-kilometre Kiel Canal that links the lower Elbe River to the Kiel Fjord and serves as a link between the North Sea and the Baltic. The Kiel Canal carries most container feeder traffic between ports in Finland, Russia and the Baltic states, Poland and Scandinavia...
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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