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SWIRE Shipping's Eastabout Round-the-World Service, using four 1,800-TEU ships, will come to an end because of the prolonged global economic downturn. "Swire Shipping is very sad to be exiting this trading lane after more than 100 years, but in the current economic climate, and with rapidly increasing bunker costs, this service is no longer a viable op...
Japanese shipping group Sanko has reported annual net profits of Yen36.8bn, down 5.4% compared to the year before, as the collapse in bulk rates badly hit its dry division. The company's tanker arm enjoyed strong results, and net earnings were level at Yen229.2bn, although operating profits were down a fifth to Yen63.4bn. The company said it expected prof...
WEEKLY dedicated services from the Far East to Europe have been cut in half since last year, says the Dutch maritime agency Dynamar. Last June, the consultancy said 17 such services were provided, offering 280 ships, compared to 166 this month with capacity cut by 24 per cent to 1.03 million TEU, and annual capacity reduced by 35 per cent to 3.9 milli...
A US congressional committee seeks to spend US$500 billion on highway and transit infrastructure over a six-year period, according to a legislative blueprint released by its chairman James Oberstar, a Minnesota Democrat. The House Transportation and Infrastructure Committee funding goal includes $50 billion for metropolitan congestion and transit an...
QUARTER to quarter economic improvement is expected this financial year by FedEx Corp chairman and CEO Frederick Smith. "There are signs that the worst of the recession is behind us and we remain optimistic," he said after reporting that his company lost US$876 million in the fiscal year ending May 31, compared to earning $241 million in the previous fi...
SHANGHAI, June 23 (Reuters) - New orders received by China's shipyards in the first five months of the year fell 96 percent from a year earlier to 1.18 million dead weight tonnes (DWT), the Ministry of Industry and Information Technology on Tuesday. New orders in May stood at 190,000 DWT, bringing the total orders held at shipyards as of end-May...
Neptune Orient Lines (NOL) suffered another month of declines in both revenues and volumes in excess of 20%. But the Singapore liner operator did see a very modest improvement over the figures seen the previous month. In the four weeks to 29 May 2009 volumes at APL, NOL’s liner subsidiary, saw a year-on-year decline of 21% to 15...
HONG KONG's Toll Global Forwarding (TGF), the forwarding and logistics arm of Australia 's Toll Holdings, has appointed Hakan Bicil as its new regional managing director for Europe and Middle East , replacing John Gomes, who is retiring, but will retain a consultancy role in the business. Mr Bicil's 17-year career in freight has included a variety...
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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