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Some oil refineries in Asia close for routine maintenance next month (LONDON) The cost of shipping Middle East oil to Asia may fall this week on slower demand for tankers in April. Slower month: Singapore Petroleum Co booked a very large crude carrier to load a cargo on April 11 at 120-122.5 Worldscale points, shipbrokers said Freight rates f...
United Parcel Service Inc. has tapped Eric W. Kirchner as president of Freight Forwarding and picked a senior management team to oversee its freight forwarding, global brokerage and non-asset network management services. The Atlanta-based package shipper (NYSE: UPS) also named Everette C. Riley president of North American Freight Forwarding and Transp...
COSCO Shipping Co., a specialized equipment carrier under China's top shipper COSCO Group, said Friday its net profit rose 84.3 percent in 2007 on surging transport demand fueled by the booming foreign trade. Net profit reached 1.07 billion yuan (150.7 million U.S. dollars) or 1.64 yuan a share, from 583 million yuan or 0.89 yuan a share in 2006, the ...
A unit of French shipping company CMA CGM that owns and charters containerships, said today it will be acquired by Marathon Acquisition Corp., and become a public company to create a strong platform for growth. The CMA CGM subsidiary, Global Ship Lease Inc., is incorporated in the Marshall Islands and owns 12 ships and has contracts in place to purcha...
Ocean carrier APL said today it will begin a new direct service connecting Thailand's biggest port with Karachi and the Middle East on April 5. APL is the first carrier to launch this direct service from Laem Chabang to Karachi," the Singapore-based carrier said. "The service offers the fastest transit time from Thailand and Singapore to Karachi. In r...
A company that describes itself as one of the largest cash buyers of ships for recycling in the world has been named in a federal complaint by the U.S. Environmental Protection Agency in a controversy over the former passenger liner Independence. The EPA said it has issued a federal complaint against Global Marketing Systems of Cumberland, Md. f...
The U.S. Maritime Administration is searching for a director for its new gateway office in Miami. Gateway offices are designed to provide MarAd with a day-to-day presence throughout the marine transportation system. The new office will work with state and local authorities and a broad range of port, shipper and carrier stakeholders to cooperate...
Oman's state shipping firm will spend up to $4 billion in the next three to four years to expand its fleet size, a senior company official said, part of the sultanate's efforts to upgrade its oil industry. Oman Shipping Company (OSC) is looking to grow its fleet mainly to meet demand for energy transportation, chief financial officer Kuldeep Mathur tol...
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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