News

• Chemical tanker Gulf Fanatir joins GULFNAV fleet

Gulf Navigation Holding PJSC, has announced that it has taken delivery of the Gulf Fanatir a newly built vessel constructed at the Hyundai Mipo Dockyard in Ulsan, South Korea. Contracted at a cost of USD 54.35 million the ship is the first of a series of four sophisticated chemical carriers ordered by Gulf Navigation PJSC. With deadweight of 46,200 metric tonnes, a capacity of 54,300 cubic... »

• Iran, Azerbaijan to hold meeting on shipping cooperation

The joint meeting of Iran and Azerbaijan on shipping cooperation will be held in Tehran for three days as of May 4. Announcing this on Saturday, the deputy head of Ports and Shipping Organization noted that the meeting aims to bolster bilateral shipping ties, develop marine and ports transportation, prevent oil pollution and carry out joint search and rescue operations between the two countries. ... »

• UASAC posts KD 1 mln profit in ’07

The United Arab Shipping Agencies Company (UASAC), an affiliate of the United Arab Shipping Company (UASC) announced it secured KD one million in net annual profits in 2007. The figure represents 202 percent of the paid capital of the company, UASAC Director General Walid Al-Abd Al-Qader said in a press release here following the annual General Assembly meeting. Activities The meeting probed a... »

• West Asia Maritime signs pact with Mitsubishi

West Asia Maritime Limited (WAM), a part of Dubai-based diversified business conglomerate ETA, has signed a twelve-and-half-year Bareboat Charter (BBC) with purchase option contract with Mitsubishi Corporation of Japan for chartering two Handymax (+55,000 dead weight tonnage (dwt)) bulk carriers, according to Abdul Qadir A. Rahman Buhari, Managing Director, West Asia Maritime. Addressing a press... »

• Norway''s TTS Marine ASA secures anchor handling equipment order from Korean shipping company

Norwegian marine and offshore systems and equipment provider TTS Marine ASA said on Friday (2 May) that its subsidiary, TTS Offshore Handling Equipment AS, has secured an order for anchor handling winches from a Korean shipping company. The NOK33m order, to be delivered before the end of 2009, covers winches to two anchor handling vessels under construction in Japan. The customer also has an... »

• Cosco set to grow offshore marine, shipbuilding business

Cosco Corp. Singapore Ltd. aims to draw one third of its business each from ship repairs and conversion, new shipbuilding and offshore marine engineering services. The three key businesses contribute S$653.1 million (US$481.2 million) or 91 per cent of the company's S$717.6 million (US$528.8 million) revenue during the January to March quarter. Of the total revenue from the three key business... »

• Iran shipping hit by nuclear sanctions: report

Iran's leading shipping company has said US sanctions against Tehran over its controversial nuclear programme have hurt the industry, the Aftab Yazd newspaper reported on Wednesday. "Currently, because of unfair UN sanctions and US pressure on foreign ships not to cooperate with Iranian-flagged ships, we cannot have our flag on all of our vessels," the head of Bonyad Shipping Company (BOSCO), Ali... »

• DNV concludes: The MSC Napoli design is not an industry problem

DNV’s conclusion as a result of its extensive investigation into the MSC Napoli accident in January 2007 is: The accident’s cause is not a general problem for the container shipping industry at large. However, minor structural modifications have to be made to a very restricted number of the existing container ship fleet. Related directly to the MSC Napoli, DNV concludes that the buckling... »

• Horizon Lines Delivers for Walgreens

Horizon Lines, Inc., the nation's leading domestic ocean shipping and integrated logistics company, has renewed its contract wit Walgreens to remain the drugstores' primary carrier to Puerto Rico for the next two years. Walgreens currently operates 6,271 stores nationwide including 73 stores in Puerto Rico. As the drugstore chain continues its growth on the island, Horizon Lines will be... »

• Shipping Corporation of India to outsource ship management

The Shipping Corporation of India (SCI) proposes to outsource management of ships. Keeping in view the business dynamics and availability of qualified and competent manpower, the shipping companies all over world including some Indian companies often place their vessels for manning and management under the charge of competent and qualified managers in course of their business. The Shipping... »

• Engines of Change 2007

Engines dominated equipment news in 2007, but that’s only the start of improvements underway. The trucking industry is being buffeted from many directions with problems ranging from soft demand with resultant price pressures, record fuel prices and intense environmental scrutiny at all levels. If that was not enough, a driver shortage has required that trucking companies look to creature... »

• RINA: New revision of Certification Rules

The new revisions of the Rules for the certification of systems entered into force on 1 February 2008: - Quality Management - Environmental - Occupational Health and Safety Management - Validation of the EMAS Environmental Statement - Quality Management - Automotive Sector Furthermore, the new revision of the document "General Contract Conditions governing System, Product and Personnel... »

• NITL Supports Short Line Tax Credit

The National Industrial Transportation League (NITL) formally endorsed extending the short line railroad rehabilitation tax credit. The rehabilitation tax credit, known as 45G, was first enacted in 2004. It provides a credit of 50 cents per dollar spent on track rehabilitation, up to a credit cap of $3,500 per mile of railroad owned or leased by the short line. “The ultimate... »

• OAO RZD will buy Container Terminals

OAO RZD are to acquire shares of container terminals all over the country, Vladimir Yakunin, OAO RZD president said at the Baikal Economic Forum. Nowadays, OAO RZD is not able to provide H/H transportation with the through rate. More than that, tariffs of OAO RZD are regulated by the state, while the tariffs of the other participants of the Port-Shipping company-railway logistic chain. Other... »

• CMA CGM and Veolia Environnement join forces in a rail transportation project

CMA CGM, the third leading container shipping group in the world, and Veolia Environnement, the world leader in environmental services, have decided to cooperate, through their respective subsidiaries, Rail Link and Veolia Transport, in developing a new rail transportation service for sea containers. This partnership is at the origin of 2 separate companies: - A combined transportation... »

• Container shipping Poti-Baku-Aktau-Almaty may be resumed

Container shipping Poti-Baku-Aktau-Almaty up to "Dostyk" station may be resumed in the next few months. Askar Mamin, Minister of Transport and Communications, has stated this today, July 27, in a break of the meeting of the ministers of transport and communications of Azerbaijan, Georgia, Kazakhstan, and Turkey dedicated to further improvement of the transport communications between Europe and... »