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MSC has launched its Maya feeder service which hubs in Balboa and calls at the west coast Central American ports of Puerto Caldera (Costa Rica), Acajutla (El Salvador) and Puerto Quetzal (Guatemala), deploying the 1,232-TEU MSC Paola. At the hub port of Balboa, the service connects to MSC's US east coast-Freeport-west coast South America service, th...
FROM January to May, eastern China city Suzhou achieved a foreign trade value of US$66.6 billion, representing 57.3 per cent of the trade value of Jiangsu province. The report from Logistics Week said the value has recovered near levels achieved before the world financial crisis. The city's export cargo valued $38.3 billion, accounting for...
DENVER (AP) -- Safe Bulkers Inc., a drybulk shipping services provider, said Friday it has entered into an agreement to sell a 2003 Panamax class vessel for $33 million. Safe Bulkers, based in Athens , Greece , did not identify the new owner of the vessel, which will be delivered in December. The company said it will use the vessel u...
China made an operating profit of over 1 billion yuan ($146 million) from the 2008 Summer Olympics, the National Audit Office said on Friday. Most Olympic host cities make money from running the Games -- Athens in 2004 reported an initial operating profit of $155 million -- but the bills for building stadiums and other infrastructure can ta...
Freight employees allege logistics firm deprived them of compensation Nine former employees of CEVA Transport filed a collective action under federal law for unpaid overtime compensation. The suit alleges the international shipping management company required workers at its Ohio hub, which has since been closed, to work 10 or...
SINGAPORE 'S Neptune Orient Lines (NOL) said on Friday three employees and a former employee of its APL Taiwan unit are among 46 people indicted for alleged corruption and fraud. 'None of the NOL group of companies, including APL, has been indicted on such charges,' the company said in a statement to the Singapore Stock Exchange. Taiw...
FINANCIALLY pressed owners are increasingly escalating their negotiations with banks, from seeking waivers on covenants to pleading for moratoria on the repayment of loan instalments as cash-flow drains away, according to senior banking sources. The sources said that owners in the containership and product tanker sectors were especially prominent in th...
SHIPPING defaults to date are only the “calm before the storm” and the industry faces a challenging 12-18 months ahead. The next year will likely see a surge in the number of loan defaults and ship arrests, with little prospect of a box trade recovery and moves by countries to build national fleets. At the same time, globalisation itsel...
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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