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Cosco Container Lines is launching its own China-Mexico-Cristobal (CUE) loop in response to a move by Evergreen to restart the CUE service that it previously jointly operated with Coscon under the new name of the Far East-Panama Service (FPS). Coscon plans to launch its own CUE service in early June, reports AXS-Alphaliner News. It said a total ...
Around seven metric tons of diesel fuel spilled into a river in northern Russia when a dry cargo ship and a tanker collided in the Vologda region, an emergencies ministry said on Friday according to RIA Novosti. The collision occurred at around 23:00 Moscow time [19:00 GMT, Thursday] on the Malaya Severnaya Dvina River near a ship repair plant in the ...
Maersk Line, the world's largest shipping line by fleet size, is preparing to raise the capacity on its weekly Europe/Middle East ME3 service by phasing in ships of 6,250 TEU to replace the 5,500-TEU vessels presently used on the service. The service upgrade will take effect from June 7 with the departure of the Maersk Kensington from Algeciras. The ...
Shipping Corp. of India Ltd., the nation's biggest sea carrier, will borrow $1.3 billion to purchase more vessels because of rising trade in the country. The funds will pay for 28 vessels to be delivered within the next three years, Chairman S. Hajara said in an interview in Mumbai yesterday. Most of the loans will be raised overseas as it's cheaper,...
Malaysian Bulk Carriers (MBC) has registered first quarter pre-tax profit of RM99.698 million (US$31.2 million), down 32.6 per cent from a year earlier due to a weak tanker market as well as higher operating expenses. Revenue for the three months ended 31 March 2008 surged 68 per cent to RM180.464 million from RM107.417 million for the same quarter last y...
Neptune Orient Lines Ltd. is ready to make a cash offer for Hapag-Lloyd of $6 billion to $7 billion and is confident of winning the German container shipper despite an expected bid from a consortium led by the German city of Hamburg, two people familiar with the situation said. They [NOL] are expecting Hapag's formal invitation for bids at the end of this...
South Korea's STX Group said on Friday it had agreed to build a $430 million shipyard in Azerbaijan with local partners. STX said in a statement that the group would hold a 25 percent stake in the shipyard and Azeri state oil company Socar would own 65 percent, with the remainder to be held by an Azeri state investment firm. STX said the dockyard wou...
Daewoo Shipbuilding and Marine Engineering Co Ltd said on Friday it had secured an order to build two drill ships worth 1.44 trillion won ($1.38 billion) from the Americas. The South Korean company said in a filing to the Korea Exchange that it will deliver the vessels by April 15, 2011, declining to identify the party placing the order. Source: ...
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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