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FRENCH shipping giant CMA CGM has announced a rate increase of US$200 per TEU on cargo from Asia to Mediterranean and Black Sea ports and all destinations from Portugal to Russia starting March 1. Meanwhile, China's Coscon is increasing rates $30 per bill of lading on average from March 1 on all cargo from south China to north west Europe and the Mediter...
Jinan Iron and Steel Co Ltd (Jigang) will acquire Laiwu Steel Corporation (Laigang) through a share swap, paving the way for the backdoor listing of their controlling shareholder Shandong Iron and Steel Group Co Ltd (Shangang). According to statements the two steelmakers filed to the Shanghai Stock Exchange Wednesday, each Laigang share, valued at 12.29 y...
HONG KONG: Economic growth in the Special Administrative Region (SAR) beat estimates in the fourth quarter and Financial Secretary John Tsang forecast an expansion of as much as 5 percent this year as he moved to counter the risk of a real-estate bubble. Gross domestic product (GDP) rose a seasonally adjusted 2.3 percent from the previous three months, Ts...
TOKYO: Nippon Yusen KK, Japan's largest shipping line, will be increasingly reliant on shipping iron ore and coking coal to China as it expands its fleet as domestic growth stagnates. China may account for half of the iron ore and coking coal the company ships by 2015, up from 20 percent now, according to Kazuo Ogasawara, general manager of the capesize ...
LONDON: Base metals will rally this year as funds are set to maintain their buy-side bias, while strong Chinese growth will overshadow lackluster growth in mature economies, according to Natixis. The investment bank said in a report this week metals continue to gain acceptance as an asset class, are increasingly used by funds to diversify their portfolios...
Australia and China resumed free trade talks Wednesday after a delay of 14 months, a move the Australian government said proved their healthy trading relationship, although Chinese experts say future uncertainties still remain. AFP said the talks, which are due to last three days, are being held in Canberra. Trade Minister Simon Crean said Australia's va...
BEIJING: China's energy use in generating each dollar of gross domestic product fell 2.2 percent in 2009, the National Bureau of Statistics said on Thursday. The decline was well below a drop of 4.59 percent in 2008 and 4.2 percent in 2007. China set a goal of cutting energy intensity -- the amount of fuel needed to generate each dollar of national inc...
China's overseas direct investment (ODI) may see a double-digit growth this year to around $60 billion, on the back of government support and overseas expansion plans of domestic firms, officials from the Ministry of Commerce (MOFCOM) said yesterday. Though foreign direct investment slumped worldwide in 2009, China's ODI in the non-financial sectors ros...
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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