Media
Media
APL Co. Pte. Ltd. and Scan-Shipping A/S are headed toward what could become a lengthy legal battle over the recent breakup of a joint venture between the two companies in Scandinavia. Through the joint venture, formed in 2001, Scan-Shipping acted as APL's agent in Denmark, Norway, Sweden and Finland. Scan-Shipping had served APL, previously NOL, in th...
A.P. Moller - Maersk Group Thursday said the results of its container business last year showed significant progress, but remain unsatisfactory. The liner business, which includes the APM Terminals, had a profit after tax of $217 million in 2007, compared to a $568 million loss the prior year. Liner business revenue was $26.7 billion in 2007 compared ...
France's CMA CGM, the world's third-largest container line, achieved a 58 percent jump in net income last year to $966 million, compared to $611 million in 2006. The Marseilles-based group's annual revenue increased 40 percent to $11.8 billion, of which it said 35 percent was down to organic growth. The group -- comprising CMA CGM, ANL, Delmas, OT...
A.P. Moller - Maersk today reported a modest annual profit in its container shipping division as the Danish group achieved a 15.3 percent increase in net profit for 2007 of 18.66 billion Danish Krone ($3.4 billion). Group revenue for the year improved 7.2 percent to DKr278.9 billion ($51.2 billion). The Copenhagen-based giant said its profits ...
Greek containership chartering company Danaos Corp. said a capacity squeeze in the charter market helped it achieve strong profit gains for the fourth quarter and full year, adding that concerns over the U.S. economy will likely see a contraction in the number of newbuilds ordered. The New York-listed company's fourth quarter net income gained 46.1 percent...
Tokyo-based MOL will this summer withdraw its seven long-range Panamax product tankers of about 75,000 deadweight tons from a pooling arrangement with European shipowners. MOL joined the LR1 Pool in December 2002. The pool, managed by LR1 Management K/S on behalf of MOL, Denmark's TORM and six other European shipowners, has a total of 43 vessels inclu...
A.P. Moller - Maersk Group said Steen Reeslev, 49, will join the company as head of group relations and communication on April 14. A former journalist, Reeslev has been senior executive vice president and head of group communications at Danske Bank since 1998 and a member of the bank's executive committee. Source: American Shipper
Barbara Bush on Tuesday christened a new 4,578-TEU vessel for Hong Kong-based Orient Overseas Container Line at the Yangshan Deepwater Port in Shanghai. The new vessel, OOCL Texas, was built by Samsung Heavy Industries. Source: American Shipper
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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