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Hereby JSC Latvijas kugnieciba (Latvian Shipping Company - LASCO) informs that on 2 November 2007 the Company signed contracts with Hyundai Mipo Dockyard Co., Ltd. (HMD) on building four additional middle-range (MR) tankers, thus implementing the Group’s Tanker Fleet Further Development Plan that provides for the expansion of the given segment by approximate...
The Iranian Minister of Commerce Mas'oud Mir-Kazemi said on Sunday Iran and Cuba have reached an agreement to establish a joint shipping company. Mir-Kazemi made the remark upon coming back on Sunday evening from a 4-day visit to Cuba and taking part in a Non-Aligned Movement (NAM) Commercial Meeting there. He said the agreement will have a significant be...
The awards recognise top achievers with excellent performance in the maritime industry across the region. Soon after the company's inception in 2006, Emirates Shipping Line has achieved solid business growth with eight services launched in 12 months providing a growth rate faster than the market and a widespread network spanning over 40 countries. 'We se...
A new company outlined plans Thursday to raise more than $350 million to use to purchase, then charter back containerships to French liner company CMA CGM. The new company, Global Ship Lease, filed a prospectus with the U.S. Securities and Exchange Commission outlining plans to sell nearly 18.9 million shares of stock for $19-$21 per share. The proceeds wi...
The chairman of Evergreen Marine Corp. Chairman Arnold Wang played down concerns about overbuilding of ultra-large containerships, and predicted that "the development of the container shipping industry will continue along a rising path, based on continuous cargo growth and stable capacity increases." Speaking at the World Shipping Summit (China) 2007 in Tia...
Dubai port operator DP World has launched a share sale for retail investors in the UAE in an initial public offering that values the company at $21.58 billion. The IPO is in the form of a 20 per cent sale of shares by DP World's sole shareholder Port & Free Zone World, a government-owned entity, which will retain majority ownership. This makes DP World...
DP World, the Dubai-based ports operator that bought Britain's P&O, is on course to become the Middle East's largest stock market listing to date. The company yesterday priced shares for its float between $1.00 and $1.30 a share – putting a value of between $16.5bn and $21.5bn (£7.9bn and £10.2bn) on the company. Last year, DP World had revenues of $2....
China COSCO Holdings Co Ltd, the country's largest shipping conglomerate, yesterday posted net profit of 664.09 million yuan (US$88.8 million)for the third quarter, mainly fueled by rising freight costs and a steady increase in demand. China COSCO's net profit for the first nine months amounted to 1.5 billion yuan, it said in a statement to the Shanghai e...
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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