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A US District Court has for the second time rejected a class-action suit by shippers accusing Matson Navigation and Horizon Lines of price-fixing on lines between Guam and Hawaii and the US mainland. Judge Thomas Zilly, suggested that shippers take their plea to the Surface Transportation Board, which oversees domestic shipping rates, after noting that ...
DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that its subsidiary, Drillships Hydra Owners (the owning company of the Ocean Rig Corcovado), has signed a commitment letter with an international lender for a $325 million Senior Secured Bridge Loan Facility. ...
Indonesia will delay until May 2011 the implementation of a controversial policy — the so-called cabotage rule — under which all vessels operating in its waters have to be registered in the country and use the Indonesian flag, a senior government official said Thursday. “We have a letter from the transportation ministry that the cabota...
The Shanghai Containerized Freight Index spot rate for shipments to the U.S. West Coast fell below $2,000 per 40-foot container for the first time in 10 months in the most recent week, falling 3.5 percent from the week before. The drop to $1,977 per FEU in the week ending Nov. 26 marked the 13th straight week to week decline in the measure as freight ra...
Singamas Container Holdings Ltd said on Friday it expected to post a consolidated profit for the year ending December 2010 as compared to a loss a year ago. "The positive turnaround of the results of the Group is principally attributable to growing container demand as a result of improving global trading activities since the end of 2009, and higher sell...
The Rickmers Group has taken delivery of Rickmers Masan, its 10th MPC (multi-purpose carrier). Built at the Jingling yard in China, the new vessel is the first in a series of four Superflex Heavy MPC vessels that are being long-term chartered to Hyundai Merchant Marine (HMM) for a period of eight years. They will operate a new HMM service linking the Fa...
Cheered by profit earned from liner operations in the first-half of the current fiscal year – US$18.73 million including $15.65 million from container services alone, Shipping Corporation of India (SCI) is considering resuming container services to ports on the US East Coast, reported The Hindu. However, the timing and selection of partners are ye...
Taipei: Sources in Taiwan indicate Hong Kong’s OOCL is in advanced negotiations with Kaohsiung-headquartered CSBC for a series of small boxships. The Tung family controlled containerline is looking to order eight 1,800 teu ships. A CSBC delegation has been in Hong Kong recently to try and firm up the deal. OOCL has not ordered at CSBC for a generation...
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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