China Shipping Container Lines Co Ltd said yesterday its first-quarter revenue rose 38.7% as trade increased and it charged more to ship containers around the world. The world’s 10th largest container shipper said in a statement its first-quarter revenue was 6.23bil yuan (US$752mil), based on unaudi
Romanian shipyard Daewoo Mangalia Heavy Industries (DMHI) will sign on Friday a deal worth more than $500 million (387 million euro) with German Hamburg Sud to build six container ships. Each of the ships will have a capacity of 5,200 twenty-foot equivalent units (teu).
While the size of the world
BP’s flagship investment project in Russia suffered a major and unexpected setback yesterday after its joint venture TNK-BP disclosed it had received a back tax bill for almost one billion dollars. The claim, which refers to 2001, is likely to cast a pall over Russia’s precarious investment climate
A contractor is planning to bring in pipe next week for the annual dredging of Oceanside Harbor. Don Hadley, director of harbor and beaches for Oceanside, didn’t have a precise start date for the dredging work. The $2.5 million project, paid for by the federal government, will dredge the harbor to a
Growth rate will sustain in the quarters to come, says PC Kapoor, MD of Bharati Shipyard. Kapoor told CNBC-TV18, “The growth rate will be sustained and they may even become better. There is a very healthy demand and there are not so many shipyards to meet the demand.” Talking about the orders that B
Almost five years after selling its shipyard on Swan Island, the Port of Portland has negotiated new terms with shipyard buyer Frank Foti for payment of the $12.5 million he still owes. Under terms of the new agreement, which goes to the Port of Portland Commission for approval Wednesday, two loans
The new cruise ship Arcadia is to be officially named by double Olympic gold medallist Dame Kelly Holmes in a ceremony on Tuesday evening. A large auditorium has been built on the dockside in Southampton for the naming of the
Ingersoll-Rand Maritime Solutions has installed an internet-based ID-verification and credentialing card-management system for the Port of Antwerp, Belgium
Nigeria and other African nations were yesterday chided by International Labour Organisation (ILO) and International Transport Workers’ Federation (ITF) for the delay in ratifying international maritime conventions and backwardness in producing enough international regulation compliant seafarers.
With over 1.400 exhibitors, the 2005 edition of European Seafood Exposition (Brussels Expo, April 26th to 28th) promises to be a key moment for the European seafood industry. While the European Commission is gearing up to develop a long term Maritime Strategy, seafood specialists come to Brussels to
Europe’s fifth-largest shipping line, Hapag-Lloyd, expects Asia’s double-digit economic growth to support demand for cargo space. Its chief executive, Adolf Adrion, said this in Singapore as the company took delivery of a new ship, Colombo Express. The ship is one of the largest container ships in t
A total of five bidders have submitted the required documents for participation in the tender over a 70% stake of the Bulgarian River Shipping company, it appeared after the deadline expired Monday. Two foreign companies – Cyprus’ “Bulkom” LTD and Hungarian Masped Rt. will face the rivalry of Bulgar
In what could be the death knell for Brooklyn’s industrial waterfront, the city shunned a deal that could have brought millions of dollars in trade and hundreds of jobs to Red Hook. A German shipping company that wanted to come to Brooklyn is instead heading elsewhere – first to Jersey City and then
