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MAERSK Line, the world's largest container carrier, has reportedly signed the letters of intent with South Korea's Daewoo Shipbuilding & Marine Engineering for a series of world's first 18,000-TEU containerships. The orders would amount to US$2 billion, said Lloyds List, but Korea Economic Daily reported that the shipbuilder would sign a $4 billi...
MISC, the shipping arm of Malaysian state oil firm Petronas, reported a more than four-fold rise in second quarter earnings, boosted by its shipping as well as heavy engineering businesses, reported Reuters. The company, one of the world's largest operators of liquefied natural gas tankers, has been benefiting as tanker and container rates started pick...
Hamburger Hafen and Logistik AG (HHLA) has ramped up its business with India, quadrupling the number of weekly ship connections between its Hamburg terminals and Indian seaports in the last five years. With just five weekly links in 2005 there are already 20 connections this year, primarily to the busy Mumbai port of Nhava Sheva. Ten container shipp...
Tokyo: Mitsui OSK Lines (MOL) has inked a 25-year contract with Brazilian mining giant Vale to transport iron ore from Brazil to China. The contract is for two very large ore carriers (VLOCs) to serve the Vale – China shuttle service. MOL has ordered a pair of 300,000 dwt VLOCs from Universal Shipbuilding Corp for delivery in 2012 and 2013 to service ...
MAERSK LINE is believed to have reached an out of court settlement with Argos in the UK for the Danish carrier to refund the high street retailer nearly US$14 million in costs and damages, to avoid a potentially damaging contract law suit in a UK court. "Argos and Maersk are no longer in dispute and their commercial relationship has now been established...
MATSON Navigation Company, a US coastal-Hawaii container shipping line, announced an average 3.8 per cent increase of freight rates for its Hawaii service by US$120 per westbound container and $60 per eastbound container, from January. The company said it will also raise its terminal handling charge by $175 per westbound container and $85 per eastbound ...
THE Dutch salvage firm of Smit-Llyod has been engaged to pull the damaged 917-TEU Tiger Spring from the riverbed at the narrow Hooghly Point south of Kolkata and salvage her containers, reports the Calcutta Telegraph. The Rotterdam company faces a struggle because of the strong current at Hooghly Point, which make anchoring lighters difficult. The Colom...
HONG KONG-listed but Shanghai-based SITC International has signed orders for four 1,100-TEU ships from Yangfan Group of Shanghai for US$72.4 million. SITC, which listed Hong Kong last month, has placed a total of seven containership orders amounting to $129.7 million, financed in part by a global offering. The company has also signed contracts with ...
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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