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French carrier CMA CGM has decided to relocate from Auckland to Tauranga on its meandering 23-port New Europe Mascarene Oceania (NEMO) service. The New Zealand port said the move will add 52 extra vessel calls per year. CMA CGM has recognized the Port of Tauranga as a major North Island distribution hub, serving the Auckland market through a unique rai...
The Canada Transpacific Stabilization Agreement said it has adjusted fuel recovery charges from the levels that it had for the period beginning Feb. 1. surcharges (in U.S. dollars) will be: $724 per 20-foot container instead of $720; unchanged at $905 per 40-foot container; $1,018 per 40-foot, high-cube container instead of $1,015; and $1,146 per 45-foot ...
Indian ocean carrier Essar Shipping Ltd. has designs on raising $1 billion through sales to equity firms and foreign investors to lessen its debt burden. Essar, part of the Indian conglomerate Essar Group, reportedly has debts of $2.3 billion and has already made moves to reorganize the business, including merging with Essar's oilfield services divisio...
Bankrupt Sea Containers Ltd. has agreed to settle the claims of two pension schemes belonging to its London-based subsidiary Sea Containers Services Ltd. The Bermuda-registered company said the agreement, which is subject to approval by the Delaware Bankruptcy Court and may be objected to by other creditors, is a critical and positive milestone i...
Maersk Line will change the tariff currency from U.S. dollars to euros on shipments from Europe and North Africa to Australia, New Zealand and the South Pacific Islands, effective April 1. The change is due to the volatility of the U.S. dollar at a time where an increasingly high proportion of the line's costs are settled in euros, the Danish carrier s...
The International Chamber of Shipping (ICS) has updated its Code of Practice on Shipping and the Environment. The expanded 4th edition is intended to provide a concise but comprehensive summary of the environmental obligations of shipping companies as required by the latest international regulations, and a clear set of environmental standards by which co...
Italian shipping company Rizzo-Bottiglieri-De Carlini Armatori SpA offered a $180 million contract on Wednesday to Shanghai Waigaoqiao Shipyard for two 177,000-dwt ships, China Daily reported. In the past two years, RBD Armatori has ordered four 110,000-ton Aframax tankers and four 87,500-ton Post Panamax bulk carriers from Shanghai Hudong Zhonghua Shi...
Hyundai Heavy Industries Co., the world's largest shipbuilder, has won a 793.9 billion won ($841.1 million) order to build six very large container ships, the South Korean firm said to Reuters. Hyundai said in a filing to the Korea Exchange it would deliver the ships by May 26, 2011, to an unidentified shipping company in Europe ($1=943.9 Won). Sou...
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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