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JONES ACT carrier Horizon Lines has agreed to pay US$45 million in fines over five years for antitrust violations in the Puerto Rico trade. Horizon said US Justice Department prosecutors agreed not to pursue criminal charges against many senior managers, but made no promises concerning Horizon president and CEO Charles 'Chuck' Raymond, or his chief oper...
MARSEILLES-based CMA CGM, the world's third largest container shipping group, has posted a 2010 net profit of US$1.6 billion against the previous year's loss of $1.4 billion. "All of the markets saw strong growth during the year. The Asia-Europe and intra-Asia lines enjoyed record business, while the Asia-US lines have now returned to pre-recession leve...
China Petrochemical Group (Sinopec), China's largest oil refiner, said Wednesday that U.S. Occidental Petroleum Corp. had completed handing over its Argentinean assets to it. Sinopec reached an agreement with U.S. Occidental Petroleum Corp. to buy all assets of its Occidental Argentina for 2.45 billion U.S. dollars in December last year, according to a S...
The Bulgarian government Wednesday approved a draft memorandum of understanding on economic cooperation with east China's Jiangsu province. According to the memorandum, Bulgaria and Jiangsu province would promote joint activities by exchanging information on investment policies, opportunities for establishing joint industrial projects and joint ventures,...
The Chinese commercial delegation will again be the largest one in the international trade fair Expocomer 2011 in Panama, the authorities said Wednesday. Fernando Arango, president of the Commerce, Industry and Agriculture Chamber, told Xinhua in the fair presentation that China will take 73 stands in the exhibition. "China's participation is important...
Hong Kong's goods exports rose 27.6 percent year-on-year in January to 283.7 billion HK dollars (about 36.4 billion U.S. dollars) while the imports increased 19 percent over a year earlier to 299.6 billion HK dollars, the authority said Thursday. According to Hong Kong's Census and Statistics Department, the value of re-exports grew 28.1 percent to 277....
After a year of steady growth, group purchasing websites in China have been told to exercise self-discipline and be reasonable in their business operations. Web designing software similar to Groupon, two or three technicians, a few marketing staff members and few hundred dollars -- that's all it takes to operate a team-buying website. And if enough time ...
THE US Consumer Confidence Index (CCI) exceeded expectations in February to increase two per cent month to month to 70.4 points, a three-year high buoyed by increasing optimism. New York-based Conference Board, an economic research firm, revised its yearly forecast made in January of 87.3 up to 95.1 helped by consumers "growing optimism about the short-te...
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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