Category Archives: News

Maersk Group quarterly profits drop 79pc even as revenues rise 9pc

Posted on November 13, 2011 by Editor

DENMARK’s increasingly diversified Moller-Maersk Group, which owns the world’s largest container shipping company, has posted a 78 per cent drop in third quarter in profit year on year to US$371 million while enjoying a nine per cent increase in revenue … Continue reading →

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The Netherlands: Hakvoort Shipyard to Present Ocean Going Motoryacht YN 247

Posted on November 13, 2011 by Editor

YN 247 will feature a full-beam master stateroom and owner’s study on the main deck. Eight guests will enjoy first class accommodation in four cabins, with dedicated quarters for the captain and four crew members. YN 247 will feature a … Continue reading →

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Five Chinese Sailors Missing in Boat Sinking off South Korean Waters

Posted on November 13, 2011 by Editor

A South Korean fishing boat sank off waters in Chungcheongnam-do of South Korea early Saturday morning, leaving eight people missing including five Chinese sailors, sources from the Chinese Embassy in Seoul confirmed. A South Korean fishing boat sank off waters … Continue reading →

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Tanker fixtures rise in October offering ship owners hope for a brighter future

Posted on November 12, 2011 by Editor

In its latest monthly report on the oil and tanker market for October, OPEC said that the organization’s spot fixtures increased by 5% in October to average 11.8 mb/d, up from 11.23 mb/d in September, as per preliminary data. The … Continue reading →

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Private navy to protect vessels against pirates – at US$30,000 per ship

Posted on November 12, 2011 by Editor

A PRIVATE navy of small gunboats, likely to fly the Cypriot flag, is expected to be on patrol in five months to escort ships and protect them against pirate attack as they transit the Gulf of Aden. A PRIVATE navy … Continue reading →

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Cargo to U.S. Drops for First Time Since End of 2009

Posted on November 9, 2011 by Editor

U.S. imports on the world’s biggest trading route are dropping for the first time in almost two years as consumer confidence weakens to the lowest level since the recession that ended in 2009.Container volumes on the Asia-to-U.S. route fell 3.8 … Continue reading →

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Somalia Piracy Spurs Private Navy to Start Within Five Months

Posted on November 8, 2011 by Editor

The company behind the world’s first private navy to protect merchant ships against Somali pirates plans to start armed escorts through the Gulf of Aden within five monthsafter attacks rose to a record this year. Convoy Escort Programme Ltd., backed … Continue reading →

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Poor markets hit HK’s shippers

Posted on November 6, 2011 by Editor

Uncertain conditions in the container shipping and dry bulk cargo markets continue to affect the maritime sector, according to trading results posted by Hong Kong’s leading shipping companies. Uncertain conditions in the container shipping and dry bulk cargo markets continue … Continue reading →

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Piracy at Sea: Bulk carrier Blida released by Somali pirates after 10 months captivity

Posted on November 6, 2011 by Editor

Bulk carrier Blida released by Somali pirates on Nov 3 after ransom was paid. Present condition of the vessel is yet unknown, but Ukrainian Ministry of Foreign Affairs confirmed the release and said crew is well, given the circumstances.   … Continue reading →

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Rena Pollution: 4000 Volunteers Help Clean Up

Posted on November 6, 2011 by Editor

DEEP WORK: Divers check the hull of the Rena. Noxious fumes from Rena’s rotting food tested Rena slick: Lone shag cleans itself Govt to help Rena-hit businesses Rena salvage: ‘Preparing for the worst’ Filipino crew ban studied First guests at … Continue reading →

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