Wednesday, 16th April 2014

Your daily insight into the shipping world

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Hong Kong: Hong Kong has joined the growing number of countries turning the screws on Iran, with the latest move to kick 19 Islamic Republic of Iran Shipping Lines (IRISL)-linked bulkers off its register, accordingto reports.

Copenhagen: AP Moeller-Maersk ceo Nils Smedegaard Andersen is preparing the company, which owns the top container line, for a fundamental change in China's economy towards a consumer driven one within the next decade.

Singapore: Avic International, a shipbuilding project management and consultancy services provider, was hit by a 93.3% plunge in third quarter net profit despite a 66.2% rise in revenue.

Shanghai: Shanghai, the world's busiest container port, recorded a year-on-year increase in throughput in October but volumes dipped compared to the previous month.

Singapore: China-based shipbuilder JES International saw its third quarter net profit slashed by 75.1% due to lower margins and higher operating costs, despite improved revenue.

Singapore: Nam Cheong clinched a $45.13m contract to sell four offshore support vessels and posted a 32.5% year-on-year drop in third quarter net profit.

Singapore: Jaya Holdings saw a turnaround in its business in the first quarter ended 30 September reporting a $10.1m profit.

Singapore: Anti-piracy body ReCAAP and Interpol have formalised their cooperation with the signing of an agreement.

Taipei: Direct container services between Fujian province and Taiwan carried 455,262 teu in the first nine months of the year, a rise of 1.2% over
the corresponding period last year, according to reports.

Seoul: Korea is apparently continuing to meet its oil import needs with Iranian crude, with shipping data showing the National Iranian Tanker
Company (NITC) VLCC Motion sailing for South Korea’s Daesan port.

Headlines Asia

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