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AP Moller-Maersk AS of Copenhagen let a contract to a subsidiary of J. Ray McDermott SA for the engineering, procurement, and construction of 6,500-tonne topside modules for the Peregrino floating, production, storage, and offloading vessel. Projects of this nature are typically valued in excess of $250 million, AP Moller-Maersk said. Engineering ...
Wartsila has received a major order from Swedish shipowner Laurin Maritime AB. The contract, signed in March 2008, calls for six Wartsila Senitec M1000 oily water separation units to be delivered in mid April 2008. The units will be retrofitted to six of the company's vessels and will replace existing systems, thus upgrading their oily water treatmen...
Setting new record marks for result and returns, HHLA can look back on an extremely successful financial year 2007. Operating earnings (EBIT) leapt by 32 percent to 288 million euros. At 27.4 percent (previous year: 24.4 percent), return on capital employed (ROCE) reached a new peak. Double-digit growth in revenues is expected once again for fiscal 20...
Member shipping lines in the Westbound Transpacific Stabilization Agreement, reacting to the record rise in marine bunker fuel, have announced hikes in shipping fuel surcharges that would reach $900 per 40-foot container by Oct. 1. The rates increases would be the second and third for the year. In February, WTSA members announced surcharges of $200 per FEU...
The Far Eastern Freight Conference said today that its members?container volume in the westbound Asia to Europe and Mediterranean trade declined 6.1 percent in February to 655,211 TEUs, compared to 697,910 TEUs in the same month last year. The monthly Far East-to-North Europe volume was down 7.3 percent year-on-year to 418,527 TEUs, while the westboun...
APL shipped 175,200 40-foot containers (FEUs) in the four weeks ended March 7, up 10 percent from the year earlier period, Singapore-based parent Neptune Orient Lines said today. Average revenue per FEU increased 14 percent to $2,846 per FEU. For the year, APL's volume is up 14 percent to 464,600 FEUs with the average revenue per FEU up 16 percent...
Ocean shipping lines of the Canada Transpacific Stabilization Agreement will increase their fuel recovery surcharges for May 1 to the following amounts: $796 (from $688) per 20-foot container. $995 (from $860) per 40-foot container. $1,120 (from $968) per 40-foot, high-cube container. $1,260 (from $1,089) per 45-foot container. $22 (fr...
A federal court on Thursday rejected an attempt by the City of New York to limit its liability in the 2003 accident that killed 11 people and injured 75 when an out-of-control Staten Island Ferry crashed into a pier at full speed. The city had sought to limit liability to $14.4 million, the value of the ferry. The court noted that u...
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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