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Northrop Grumman Corp.'s Sperry Marine has completed an expansion of its commercial marine service operations in Shanghai. Sperry Marine's Shanghai facility was expanded by more than 4,700 square feet and includes a full complement of depot stores. The staff at the facility was also doubled. The company said it's now able to provide aster and more...
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's company 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's proxy statement showed Baupost own...
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...
The Trans Atlantic Conference Agreement said its members will maintain their published bunker adjustment factor through at least July 15. BAF to and from Atlantic and Gulf ports is $607 per 20 foot container, $1,214 per 40- or 45-foot container, and $61 per weight or measurement ton. The comparable charges for Pacific ports will be kept at $911 per...
General Maritime Corp. said it had agreed to acquire two 2002-built double-hull Aframax vessels from Euronav NV or its affiliates for an aggregate purchase price of $137 million. The company expects to take delivery of the two double-hull vessels, subject to customary closing conditions, between July and October 2008. General Maritime plans to finance...
APL and Hanjin Shipping have launched a feeder service between Vietnam, Taiwan and Singapore called the Southern Vietnam Express service (SVX). The SVX will offer two weekly departures from Ho Chi Minh City with a full port rotation of Ho Chi Minh City, Kaohsiung, Ho Chi Minh City, Singapore and Ho Chi Minh City. Each carrier will contribute one 700-T...
The Containerization & Intermodal Institute has renamed its annual scholarship in honor of Richard A. Simpson, its former president and chairman. Simpson, who died in January, was a well-known leader in many facets of international transportation, especially during his quarter-century at Crowley Maritime Corp. It is fitting to honor Dick's work by...
The European Commission's Competition Directorate has closed its investigation into possible collusive behavior in the maritime transport of bulk liquids on deep sea routes. The big three parcel tanker operators -- Stolt-Nielsen S.A., Jo Tankers and Odfjell SE -- issued statements applauding the decision. We are pleased that the European Commissio...
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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