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  • July 26, 2014
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  1. News - World - SHIPPING

    Hong Kong-based company unveils route of Nicaragua canal to rival Panama’s

    Posted Jul 08th 2014, 01:32pm by Patrick Boehler

    ... of Nicaragua canal unveiled HKND, the Hong Kong-based company run by Chinese billionaire investor Wang Jing and the Nicaraguan government, has unveiled the route of a proposed US$40 billion inter-ocean ... Caribbean by Bluefields Bay. The route near the Costa Rican border, chosen by the company and the government, is 278km long, with 105km of that in Lake Nicaragua. If realised, the canal will be up ...

  2. Business - Companies - SHIPPING

    OOIL earnings tipped lower on oversupply, freight rates fall

    Posted Mar 08th 2014, 01:40am by Charlotte So

    ... Charlotte So charlotte.so@scmp.com OOIL earnings may take hit on oversupply, rates fall Orient Overseas International Limited (OOIL), one of the world's largest integrated container shipping companies, may dip into the red when it announces full-year results on Monday, due to oversupply in the sector and a slump in freight rates. Although analysts polled by Bloomberg forecast ...

  3. News - World - SHIPPING

    Was North Korean rustbucket stuck on Mexico reef sent to smuggle Cuba arms?

    Posted Jul 16th 2014, 09:43pm by NYT

    ... agent, Ocean Maritime Management Company. UN experts who investigated the Chong Chon Gang incident said that company "played a key role in arranging the shipment of the concealed cargo ...


    France fines Hong Kong shipping firm over top executive’s death

    Posted Jul 03rd 2014, 03:50pm

    ... Orient Overseas Container Line, a shipping company controlled by the family of former Hong Kong chief executive Tung Chee-hwa, has been fined 50,000 euros (HK$530,000) over the death of a top ... the ship was docked at Le Havre on its maiden revenue-earning voyage. While the lift malfunction has not been properly explained, a British coroner did not rule out human involvement in a judgment ...

  5. Business - Companies - SHIPPING

    Japanese shipbuilder Kawasaki to construct LNG tankers in China

    Posted Jun 26th 2014, 01:07am by BLOOM

    ... are as much as 20 per cent lower than at Korean yards, Murakami said. The company gained a foothold in China in 1995 by forming a venture with China Ocean Shipping Group in Nantong on the outskirts ...

  6. Business - Economy - SHIPPING

    Shipping industry moves into digital age with automated booking

    Posted Jun 21st 2014, 12:53am by BLOOM

    ... the processing time and make more accurate booking confirmations and invoices." Solutions range from shippers developing their own software to independent companies trying to make booking freight ... companies and jurisdictions with their own rules and procedures. Shippers prefer to keep privately negotiated rates secret, unlike airlines that publish fares. But Maersk now takes about 87 per cent ...

  7. Business - Companies - SHIPPING

    China Cosco hit by market overcapacity as it struggles to get back into black

    Posted Mar 29th 2013, 12:00am by Charlotte So

    ... cent year on year to 88.33 billion yuan. The lower-than-expected earnings result announced on Wednesday sent the company's shares down 4.2 per cent to HK$ 3.66 yesterday. The main source ... of vessels and markets," Xu Zunwu, the deputy general manager of China Cosco, said yesterday. The company, the largest shipping conglomerate on the mainland, risks losing its listing ...

  8. News - World - SHIPPING

    Experts warn that the global shipping industry is vulnerable to cyber-attack

    Posted Apr 24th 2014, 10:03pm by Reuters

    ... this month found that the industry "may be sitting on an uninsured time bomb". Globally, it estimated that cyber attacks against oil and gas infrastructure would cost energy companies close to US$1.9 billion by 2018. The British government says cyber attacks already cost its oil and gas companies £400 million (HK$5.2 billion) a year. In the maritime industry, the number of known cases ...

  9. Business - Companies - SHIPPING

    Pacific Basin sails into black on dry bulk turnaround

    Posted Feb 28th 2014, 01:10am by Charlotte So

    ... bulk market should see stronger returns this year. The company posted a net profit of US$1.5 million last year, reversing the US$158 million in losses it ran up in the previous year. Sales reached US$1.7 billion. Earnings per share were 0.6 HK cents while a dividend per share of five HK cents was declared. The company's shares were up 0.21 cents or 4.05 per cent to close ...

  10. Business - Commodities - SHIPPING

    Pacific Basin sees brighter prospects in second half of 2014

    Posted Mar 06th 2014, 10:36am by Charlotte So

    ... last week posted a huge turnaround in earnings. From a loss of US$158.5 million in 2012, the company made a net profit of US$1.5 million last year on the back of a cyclical upswing ... The company said it had already covered 5 per cent of all contracted handysize revenue days this year at a rate of US$10,090, up 6 per cent from last year's average. ...




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