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  1. Cargo ship seized in US$1.2m dispute freed

    Posted Jan 14th 2012, 12:00am

    ... Keith Wallis keith.wallis@scmp.com Admiralty judge Anselmo Reyes yesterday freed a dry cargo ship that had been under arrest since Christmas Day in a dispute over a charter hire agreement involving more than US$1.2 million. The 39,988 deadweight tonne dry cargo ship Jimrise, which is anchored near Lamma Island, is owned by Jimrise Shipping, but operations were managed by a mainland ...

  2. Pacific Basin hurt by falling charter rates

    Posted Aug 02nd 2012, 12:00am

    ... Keith Wallis keith.wallis@scmp.com Pacific Basin Shipping is facing a harsh year at its core dry-cargo division, with average charter rates lower this year than last as a glut of new tonnage outpaces growth in cargo demand. Chief operating officer Jan Rindbo said: 'We expect dry bulk rates to be weaker in 2012. It will be a tough year for our dry bulk business.' ...

  3. HK cargo handling rises 18.8pc

    Posted Jul 17th 2007, 12:00am by Carol Chan

    ... Carol Chan Hong Kong's port handled 18.8 per cent more cargo in June as exporters rushed to ship their goods before the mainland cut export-tax rebates. Throughput rose to 2.06 ... to a record US$26.9 billion. Shanghai, which surpassed Hong Kong to become the world's second-busiest port in the first quarter this year, handled 24 per cent more cargo to 12.5 million teu ...

  4. Reduced fee tipped to boost river cargo trade 20pc

    Posted Jan 01st 2007, 12:00am by Anita Lam

    ... Anita Lam River cargo trade is expected to rise 20 per cent with the introduction of a multiple-entry permit scheme that will halve the entry fees for inshore cargo vessels, officials ... Marine Department statistics show total transshipment cargo throughput amounted to 7.9 million 20-foot equivalent units (TEUs) by the third quarter of 2006, a surge of 5.5 per cent over the same ...

  5. CSCL expects a better 2012 after steep losses this year

    Posted Aug 26th 2011, 12:00am

    ... Keith Wallis keith.wallis@scmp.com China Shipping Container Lines (CSCL) is forecasting a better year in 2012 after plunging into the red with a 610.67 million yuan (HK$745.4 million) net loss in the first half of this year. CSCL posted a 1.18 billion yua ...

  6. Lines to boost Asia-Europe freight rates

    Posted Aug 26th 2003, 12:00am by Staff Reporter

    ... per short box for westbound cargo. The increase will apply to all cargo moving from Asia to the Mediterranean, northern Europe and Scandinavia until the end of the year. An additional US$75 per teu (20-foot equivalent unit) has been proposed for cargo to Britain, as is a $300 per teu increase for high-cube containers. The rate rises will be effective throughout the peak season, ...

  7. Supertanker culminates deal by three dragons

    Posted Jan 14th 2012, 12:00am

    ... supertankers- known as very large crude carriers (VLCCs)- together with 11 dry cargo ships that carry cargoes such as iron ore, coal and grain. Wah Kwong also has a 319,000 tonne VLCC on order ... of the vessel took place amid 'challenging' market conditions, Chao said, as the growth in cargo volumes failed to keep pace with the amount of new tonnage being delivered. Daily rates ...

  8. Ship rates expected to remain volatile

    Posted Apr 07th 2012, 12:00am

    ... Keith Wallis keith.wallis@scmp.com Heightened volatility in freight rates is set to continue over the next few years as the global shipping industry absorbs new tonnage and cargo demand ... at 2.3 per cent a year, he said. As a result, it would take six years for the large number of tanker orders to be absorbed. Similarly, demand for dry bulk ships carrying cargoes such as iron ore, ...

  9. Jinhui companies warn of first-quarter profits drop

    Posted May 09th 2012, 12:00am

    ... Keith Walllis keith.wallis@scmp.com Jinhui Holdings and its dry cargo subsidiary Jinhui Shipping and Transportation warned yesterday that their first-quarter net profits would ... the market outpaced cargo demand in recent months, depressing charter rates. This was particularly severe for larger ships including 180,000 deadweight tonne (dwt) Capesize vessels. The firm has ...

  10. Fund wins judgment against shipowner

    Posted Jan 26th 2011, 12:00am by Keith Wallis

    ... Keith Wallis SPL Treasury (AT 1) IC, a Guernsey-based investment fund, won a default judgment in the Court of First Instance yesterday for US$93 million plus costs and interest against the Greek owner of the dry cargo ship Admiral T. The money covered unpaid loans advanced to Nortech Shipping which it used to buy the 40,474 deadweight tonne ship and other vessels. Mr Justice ...




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