• Fri
  • Apr 18, 2014
  • Updated: 10:08pm


Weak market conditions lead to US$196m net loss

Dry bulk, towage and ferry company Pacific Basin acknowledged it suffered an unaudited net loss of US$196 million in the first half of the year compared with a net profit of US$3 million in the same period last year.

Monday, 13 August, 2012, 11:11am

Pacific Basin sheds 6pc on loss warning

Pacific Basin Shipping saw its share price plunge by more than 6 per cent yesterday, a day after the firm said it expected a first-half loss after taking a US$190 million impairment on its fleet of roll-on/roll-off vehicle ferries.

20 Jun 2012 - 12:00am

On a roll

Very soon, the luscious fruits from Mindanao will compete with American apples and oranges in the markets of Manila. These fruits from the southern Philippines, along with beef and chicken, may soon be cheaper, thanks to the shipping lanes for roll-on, roll-off (RoRo) vessels opened by President Gloria Macapagal-Arroyo.

19 Jun 2003 - 12:00am

Daewoo secures more orders

South Korean shipbuilder Daewoo continues to surge ahead this year in the race for newbuildings, with a new order from Sweden's Wallenius Lines for a 10th PCTC (pure car and truck carrier) vessel from the company's Okpo yard. The latest order is the 13th that Daewoo has secured this year, ahead of Samsung with seven orders.

30 Mar 1998 - 12:00am

Daewoo wins ro-ro order

Norway-based Wilhelmsen Lines has signed a deal with South Korea's Daewoo shipyard for construction of three roll-on/roll-off vessels worth US$240 million, with an option for three more.

11 Mar 1998 - 12:00am

Five yards in the running to build new Wilhelmsen ro-ros

Wilhelmsen Lines of Norway will decide soon which shipyard will build its ground-breaking design for a fourth generation of roll-on roll-off (ro-ro) vessels.

The carrier has short-listed five yards in Europe, Korea and Japan to build up to three Mark IV ro-ro vessels for delivery from 2000.

23 Jan 1998 - 12:00am

Ningbo added to global route

Wilhelmsen Lines is starting direct twice monthly roll-on/roll-off services to Ningbo this month. The new mainland port of call will be added to the firm's round-the-world route. Wilhelmsen also is introducing a monthly ro-ro service to Jeddah and Southeast Asia in October from the United States East Coast.

17 Sep 1997 - 12:00am

Italians design 4 carriers

The Italian state-controlled shipbuilder Fincantieri says four refrigerated general cargo carriers, each with a capacity of 600,000 cubic feet, are in the final design stage at its Ancona shipyard.

The ships, worth 300 billion lire (about HK$1.4 billion), will be delivered to Italy's Orsero Group in 1999.

13 Jan 1997 - 12:00am

Work starts on Antwerp dock

Work has begun on a six billion Belgian franc (about HK$1.38 billion), multi-berth dock at Antwerp port with a capacity to handle up to nine million tonnes of cargo a year, Antwerp Port Authority says.

The Verrebroek Dock project, to be developed in three phases by 2001, will create five kilometres of deep-water quays for non-containerised cargo.

25 Oct 1996 - 12:00am

Merchant ship losses show rise

Merchant ship losses for the year to date are higher than 1995 figures and are expected to rise further, the Institute of London Underwriters (ILU) says.

'The reversal is disappointing, and if this trend continues it will mean that the exceptional improvement seen in 1995 could have been a blip. A return to a more normal loss pattern may thus be emerging,' it said.

7 Aug 1996 - 12:00am