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Hong Kong bulk and tanker shipping company Wah Kwong Shipping Holdings Ltd kicks off pre-marketing for its $200 million Hong Kong initial public offering on Monday, sources with knowledge of the deal said. The company, which was established in 1952 by Chao Tsong-yea, had been listed in Hong Kong in 1973, but after a period of share price weakness, was ...
NEW YORK (AP) - Eagle Bulk Shipping Inc., which operates a fleet of drybulk vessels, said Tuesday its first-quarter earnings soared 69 percent as its expanded fleet benefited from rising charter rates. The drybulk shipping company earned $14.3 million, or 31 cents per share, compared with $4.5 million, or 23 cents per share, in the year-ago quarter. Th...
The World Shipping Council, representing some 90 percent of the world's container vessel capacity, has appointed Bryan Wood-Thomas as vice-president responsible for environmental affairs. Wood-Thomas was associate director of the U.S. Environmental Protection Agency's Office of Transportation and Air Quality. Prior to 2006, he served as the marine pro...
TOP Ships Inc. has taken delivery of the 75,933-deadweight-ton Panamax drybulk vessel Astrale. The Athens, Greece-based company said the vessel, built in 2000 in Japan, has been financed with secured bank debt and has entered into a one-year time-charter employment at a gross rate of $72,000 per day. Top Ships' fleet comprises 17 tankers with a to...
Athens, Greece-based Goldenport Holdings Inc. has sold the 69,737-deadweight-ton, 1981-built bulk carrier Ios to East Sunrise Shipping Holding Ltd. of Hong Kong, for $16.8 million. The vessel was fully depreciated to her scrap value with a net book value of $3.7 million including the unamortized balance of dry-docking costs. Consequently, Goldenport r...
Germanischer Lloyd (GL), the German classification society, has acquired Kuala Lumpur-based Trident Consultants for an undisclosed sum. Trident was formed in 1982 to provide consultancy in process engineering and safety to the onshore and offshore oil and gas and process industries. The company has a staff of 75 engineers and scientists working around...
The European Commission has approved South Korea's STX Corp.'s 39.2 percent acquisition of Norwegian shipbuilder Aker Yards that dates back to October last year. The decision gives the Korean shipyard full voting rights for its shares in Aker Yards, which is active in the building of cruise ships and ferries, and also makes merchant and offshore vesse...
Dubai-registered Emirates Shipping Line has confirmed that it has withdrawn from its last service calling at U.S. ports, the joint Asia Gulf Express with Israeli carrier Zim. The AGX was started in June 2006, just a couple of months after ESL was established, and is the only liner service to offer direct connection from the Far East to the ports of Mo...
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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