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United Arab Shipping Company (UASC) yesterday said it has concluded a $205 million (Dh752.8 million) term loan facility with Société Générale Corporate and Investment Banking (SGCIB) to fin-ance the acquisition of two A13 (13,100 TEU) vessels, Gulfnews reports. SGCIB will act as Mandated Lead Arranger. UASC has ordered nine A13...
DANISH giant Maersk has implemented an export rate increase to West Africa of US$150 per TEU and $300 per FEU or 40-foot high cube from July 1. The rate hike will apply to shipments Mauritania, Senegal, Cape Verde, Gambia, Mali, Niger, Nigeria, Ghana, Guinea-Bissau, Guinea, Sierra Leone, Cote d'Ivoire, Benin, Togo, Liberia, Sao Tome & Principe, Angol...
QUASI shipping conferences, the Transpacific Stabilisation Agreement (TSA) and the Westbound Transpacific Stabilisation Agreement (WTSA) were threatened with punitive measures by the regulatory US Federal Maritime Administration (FMC) for failing to provide timely transcripts of their multi-carrier meetings. The FMC threatened "formal action" should there...
HOPES for solar-powered ships have fallen after Nippon Yusen Kabushiki Kaisha (NYK Line) test results showed that stable electricity supply cannot come from the photovoltaic panels because even slight weather changes produce major cuts in power generation, said a company statement. The Japanese shipping giant made the statement while announcing fresh atte...
GERMAN container shipping line Hamburg Sud is raising the BAF on containers transported via the Pacific coast, North Europe and the Mediterranean. The ocean liner said it will increase its bunker adjustment factor on July 1. As of July 1, the US$273 per TEU bunker surcharge will be put up to $346. The $546 BAF on a 40-foot container will jump to $692. (So...
DCT Gdansk and Maersk Line have made a major step forward for the marine industry in Poland with the first regular E class vessels call to the Baltic Sea. In January 2010, Maersk and DCT started a revolution in the Baltic Sea by establishing a regular connection between the Far East and Gdansk served by 8,000 TEU vessels. With the upgrade to 15,500 TEU vess...
As a result of dredging activities the berth №2 of Kulevi Oil Terminal of the State Oil Company of Azerbaijan (SOCAR) has started to accept tankers with deadweight of 40,000 tons, SOCAR said, Trend reports. Before dredging activities the berth could accept tankers with deadweight of 10,000 tons, but as a result of done work recently the berth accepted the...
Singapore-listed Chinese shipbuilder COSCO Corp said on Monday that it has entered an agreement with Norway's Sevan Drilling for construction of two drilling units worth around $525 million each, Reuters reports. A letter of intent for the two rigs was signed in March. The deliveries of the drilling units are expected in the fourth quarter of 2013 and se...
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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