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  • BMT Sets Out Hong Kong Development Plan

    Following an in-depth review of the containerised cargo market in Hong Kong, BMT developed a plan to enhance the competitiveness of Hong Kong’s port sector.The plan includes a series of staged improvements to the existing container terminals and facilities, through the allocation of more berths, barging sites and back-up land.The review was conducted by BMT Asia Pacific, a subsidiary of BMT Group,...

  • NAT Orders Suezmax Pair

    NYSE-listed Nordic American Tankers has signed preliminary contracts with an undisclosed  South Korean shipyard for the construction of two Suezmax tankers.The contracts are now firm, bringing the NAT fleet to 24 suezmax crude oil tankers, being able to transport one million barrels of oil each.The purchase price of the two newbuilding vessels is in the region of USD 65 million each...

  • Hapag-Lloyd Wraps Up Capital Increase

    German liner shipping company Hapag-Lloyd completed the planned capital increase of EUR 370 million (USD 453.5m) as part of the business combination with the Chilean shipping company Compañía Sud Americana de Vapores (CSAV).As planned, CSAV subscribed to EUR 259 million (USD 317.5m) and Kühne Maritime made a cash contribution of EUR 111 million (USD 136m). The capital increase had already been agr...

  • CSCL Names Second 19,100 TEU Container Ship

    China Shipping (Group) Company and Hyundai Heavy Industries co-held a new vessel naming and delivery ceremony in Ulsan, Korea on December 19, to celebrate the formal entry into operation of the second 19,100 TEU container ship, CSCL Pacific Ocean.After its delivery, CSCL Pacific Ocean will sail out immediately and, together with CSCL Globe, join the Far East—Europe route. CSCL Pacific Ocean and CS...

  • Wan Hai, APL Boost Intra-Asia Network

      Wan Hai Lines (WHL) and American President Lines (APL) will expand further on their present intra-Asia network by launching a Kaohsiung-China-South East Asia Service (KCS) with the maiden voyage starting at Kaohsiung on December 28, 2014.  The joint venture service will consist of three vessels of 3000 TEU type, with WHL deploying 1 vessel and APL deploying 2 vessels.  The service rotation will ...

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