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CONTAINER freight rates on all four major trade lanes declined last week, fuelling speculation that prices will remain soft for the rest of the year, according to an assessment from London's International Freighting Weekly. According to the Shanghai Containerised Freight Index, rates on services from Shanghai to Europe slipped by US$39 to reach $1,342 pe...
The volume of cargo transported in 2010 by the Azov-Don Shipping Company Group increased by 18% year-over-year to 5,3 million tons, the Group’s press service reported. Export shipments totaled 3,8 million tons, short sea trade volume reached 1,5 million tons. According to the company boosted shipping volume was driven by ADSC’s program for e...
Danish shipping and oil group A P Moller-Maersk is better prepared for volatility than before the crisis, and it aims to boost its presence in emerging markets this year, chief executive Nils Smedegaard said, reported Reuters. The group's container shipping business is able to boost or reduce capacity on shorter notice, which made it better prepared fo...
Seoul: Somali pirates have vowed to take revenge on South Korean seafarers following the retaking of the Samho Jewelry last Friday. In the operation to retake the hijacked chemical tanker South Korean commandos shot dead eight of 13 pirates onboard. "We never planned to kill but now we shall seek revenge," a pirate who identified himself as Mohamed told...
Seoul: Korea Line Corporation has filed for bankruptcy protection in the Seoul courts. The struggling South Korean dry bulk operator had been attempting to renegotiate long-term charters in recent weeks after dry bulk freight rates crumbled due to floods in Australia and large numbers of new ships entering the market. In a filing to the Korea Stock Exch...
GAC CLEARING & Forwarding (Nigeria) has been recognised for its commitment to strict ethical business practice by TRACE, the international anti-bribery association. The company underwent a vigorous evaluation by TRACE last year, culminating in the presentation of a certification of compliance. "We strive to operate in an ethical and compliant wa...
THE United Nations-mandated persecution of the Islamic Republic of Iran Shipping Line (IRISL), driven mostly by the US Treasury edicts, is revealing how exposed supply chain logistics is to global political risk, says the UK's Transport Intelligence. The Hong Kong Government is now planning to pass legislation to close down and seize the assets of 20 l...
MAERSK Line and CMA CGM, the world's largest and third carriers, have announced a reorganisation of their Far East-Greece service from their joint AE-12/BEX 2 loop to the AE-11/MEX 2 loop. The call at Piraeus is shifted to the latter service and a direct Trieste import call is added to the AE-12/BEX 2, servicing the Adriatic Sea by offering a trade lan...
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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