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COSCO Container Lines will continue as an independent operator in the Far East/Mexico/Panama trade after it ends its partnership with Evergreen Line later this month. The two carriers are set to end their joint CUE service with Evergreen already announcing it will start its own replacement called the Far East-Panama Service (FPS). COSCO said today...
Bermuda's Textainer Group Holdings, the world's largest lessor of intermodal containers, has reported a first quarter net profit of US$22.5 million, a 29 per cent increase year on year from a 22 per cent increase in revenue to $72.2 million. The New-York listed company said China's GDP expanded 10.6 per cent in the first quarter and though down from ...
The shipping lines have increased freight rates for all European ports by $200 for a 20 feet container and $400 for 40 feet boxes, from Sunday (May 11). Most of the shipping companies adjust their freight rates every year in the months of May, July and September. As a result of this increase, the new freight charges to European continent would come betwee...
India continues to be one of the fastest growing markets for container traffic for . Last year, the Indian terminals operated by the Dubai-based company grew between 18 per cent and 22 per cent, and increasing consolidated volumes to 19 per cent, says its 2007 annual report. Both DP World Chennai and DP World Nhava Sheva reported volumes in excess of one ...
Iran and Azerbaijan have signed an agreement to cooperate in maritime trade and shipping, expressing interest in cooperation in the Caspian Sea. In the joint Iran-Azerbaijan ports and maritime cooperation commission the two countries' officials stressed the expansion of cooperation in various fields, including expansion of transportation ties, especi...
Torm, the largest operator of gasoline and jet-fuel tankers, said first-quarter profit fell 92 per cent after the sale of a unit in the same period last year, adding that it is now benefiting from 'strong' tanker rates. Net income dropped to US$52.2 million, from US$674.4 million, a year ago, Torm said in a statement on Friday. Last year's figure included...
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...
The Islamic Republic of Iran Shipping Lines (IRISL) will this week start a weekly service connecting the Middle East country with ports in Europe, Venezuela and Cuba, reports Iran's Mehr News. Saeed Meghdadi, IRISL's Europe line department manager, was quoted as saying the service will start from Bandar Abbas on May 16 before calling Malta, Barcelona,...
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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