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The CKYH Alliance of COSCO Container Lines, K Line, Yang Ming and Hanjin Shipping will next week restart their all-water Asia/U.S. East Coast AWE-5 service, which was suspended at the end of last year. The service will resume with the departure of the 4,300-TEU vessel Hanjin Rio de Janeiro from Xiamen on May 21. The AWE-5 will use eight ships on a...
TBS International Ltd. said it hopes to raise about $93 million through a secondary stock offering. The company, which operates a fleet of multipurpose and breakbulk ships, said it is planning a follow-on offering of 3.4 million Class A common shares. Two million shares will be sold by the company and shareholders will offer an additional 1.4 milli...
Boston-based investor Seth Klarman has nearly doubled his stake in Horizon Lines. In a 13-G filing made with the Securities and Exchange Commission on May 9, Klarman'scompany Baupost Group LLC. said it owns 7.1 million shares or about 23.15 percent of Horizon's stock. That's up sharply since April 18, when Horizon抯 proxy statement showed Baupost ownin...
Compagnie Maritime Belge said its Bocimar International subsidiary, which owns 14 ships, has entered into a deal to sell three to Genco Shipping and Trading for $253 million. The sales are expected to be completed in the third quarter. The three ships are the CMB Aurie, 76,588 deadweight tons, built in 2007; CMB Laetitia, 75,991 dwt, 2007; and CMB Yan...
Maersk Line will next month terminate its Mediterranean/Brazil Itajai Express service and instead take space aboard a Hamburg S service in the North Europe/East Coast South America trade. The vessels on this string (Itajai Express) have not been fully utilized and the closure is as an effort to match the actual requirements of the market and allow for...
MOL announced plans to construct 53 new iron ore carriers by 2014. The ships will range in size from 300,000 deadweight tons down to 80,000 dwt. Worldwide demand for iron and steel is expected to show stable growth, with countries such as China continuing to produce more crude steel. Increased steel production will naturally boost demand for efficient...
A.P. Moller - Maersk Group's Odense Steel Shipyard in Denmark on Saturday delivered a 7,000-TEU containership for use by Maersk Line, the ship which may well see the group抯 operated fleet pass the pass 2 million-TEU milestone. The Marchen Maersk is the second in a series of six containerships being built by the yard. Latest figures from French res...
Korean shipping line Hanjin Shipping said the weak Korean won against the U.S. dollar and record fuel costs contributed to a first quarter net loss of Won30.4 billion ($30 million), which actually represents an improvement against a loss of Won46.6 billion in the same period last year. The Seoul-based carrier's quarterly earnings before interest, and ...
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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