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China would like to see a diversification of the international currency system in the future and believes it would be "normal" if the issue came up at the "8+5 summit" involving the Group of Eight (G8) and emerging powers, Deputy Foreign Minister He Yafei said yesterday. But He, who is in charge of China's G8 meeting preparations, said he was not aware o...
The real estate market is quickly turning hot. On Monday, for instance, a land parcel along Beijing's Guangqu Road was auctioned off for more than 4 billion yuan ($585 million) after fierce bidding among major developers from the mainland and Hong Kong. The price set a record for a single land parcel in Beijing. More dramatically, just 15 months ago,...
WASHINGTON —Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was down 33.1 percent in April 2009 compared to April 2008, falling to $49.7 billion, according to data released by the United States Department of Transportation’s Bureau of Transp...
Oil giant Exxon Mobil has announced that it will not appeal the most recent decision over damages to be paid for the 1989 Exxon Valdez oil spill, and will now pay US$ 470m in interest on top of the US$ 500m in punitive damages awarded to some 33,000 Alaskan plaintiffs who'd sued the company in a class action suit. The legal struggle ov...
Attempts by the operator of the box ship Cosco Busan, which struck San Francisco 's Bay Bridge in 2007 and spilled 53,000 gallons of fuel oil, to set a limit on the fine it could face to US$215,000 has been turned down by a federal appeals court. Prosecutors will now be free to seek up to US$ 40m in punishment for Hong Kong 's Fleet Management L...
The latest confidence survey from shipping accountant and consultancy firm Moore Stephens shows a negligible increase in confidence in shipping and ongoing concern over the glut of newbuildings due for delivery. The average confidence level expressed by respondents, on a scale of 1 to 10, was 5.5, compared to 5.4 in the previous survey in Februa...
Seven people are dead and 23 are still missing after a tug bound from Dubai to Doha sank near the entrance to the Doha Canal . The 1979-built Demas Victory sank in bad weather yesterday morning. The exact cause of the tragedy is unknown. Rescue efforts are ongoing and five people have been found alive. Most of those on board the support v...
The Dutch parliament has agreed to a decision by the country's defence minister not to put armed soldiers on Dutch ships travelling through the high-risk piracy zone off the Somali coast. Eimert van Middelkoop was willing, he said, to ask the commander of the EU's anti-piracy mission to allow a Dutch frigate to escort especially vulnerable ships, those ...
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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