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Seoul: STX Pan Ocean has inked to consecutive voyage contracts CVC) worth $300m to ship coal to South Korea. The contracts with Korea Southern Power Co are to transport steaming coal mainly from Australia and Indonesia. One of the contracts starts this month and the other in July 2014 and both will run for 15 years. “The main objective of the company ...
Dubai: US private equity firm Oaktree Capital Management has acquired a controlling stake in Gulmar Offshore Middle East LLC, thereby helping the Sharjah-based company pay for the latest sophisticated newbuilds about to join its fleet. Two new Dive Support Vessels (DSVs) featuring advanced DP2 dynamic positioning and ROVs are being built at Hanjin...
The volume of containers handled by the Port of Jacksonville increased 10 percent to a record of 826,580 20-foot equivalent container units in fiscal 2010 ended Sept. 30, the Jacksonville Port Authority said Tuesday. Throughput was a record for the second year in a row and marked a decade of consistent growth in port earnings. Container volume throu...
Yang Ming Marine, Taiwan’s second largest container line, posted a record profit and revenue in the third quarter, which ended Sept. 30, on rising freight rates, stronger demand and effective cost-control measures. Yang Ming chairman Frank Lu said he expects the company to remain profitable in the current fourth quarter — a traditionally slo...
“K” Line said it will start offering more container slots between Honolulu and Asia next month on an existing service between Asia and the West Coast of South America. The Japanese carrier will offer the new space on a service it already operates jointly with MOL and NYK Line. The port rotation of the existing service is: Pusan, Keelung,...
Hanjin Shipping said it swung to a profit of $196 million in the third quarter ended Sept. 30, compared to a loss of $338 million in the same quarter of last year. On a sequential quarter-to-quarter basis, the South Korean shipping line’s third-quarter profit was 34.2 percent higher than the $146 million it earned in the second quarter of this yea...
Ocean carrier Matson's operating profit surged 67 percent in the third quarter on 14 percent growth in revenue as the China trade boomed, supporting a 20 percent increase in parent company Alexander & Baldwin's revenue and doubling of its net profit. Matson reported revenue of $267.5 million and operating profit of $40.4 million. Growth was &ldquo...
SWISS-based forwarder Panalpina has admitted to violating the US Foreign Corrupt Practices Act (FCPA) by bribing customs officials in at least seven countries, notably Nigeria, and will pay US$81.9 million in fines. The Deferred Prosecution Agreement (DPA) has agreed to defer prosecution of Panalpina World Transport (Holding) for three years with Panalp...
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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