Torm reports drop in Q1 profit Torm, the largest operator of gasoline and jet-fuel tankers, said first-quarter profit fell 92 per cent after the sale of a unit in the same period last year, adding that it is now benefiting from 'strong' tanker rates. Net income dropped to US$52.2 million, from US$674.4 million, a year ago, Torm said in a statement on Friday. Last year's figure included US$704.2 million from the sale of its stake in D/S Norden A/S.
US export surge spurs box shortfall STONGER US exports have helped support the American economy, but the trend is causing a shortage of containers on both sides of the Pacific
Daewoo in Russian yard plan DAEWOO Shipbuilding is to join with Russia's United Industrial Corporation to develop a new shipyard, according to media reports in St Petersburg
Court rejects disability appeal THE Philippine Supreme Court has rejected an appeal by the country's ship management firms and crewing agencies to intervene in the 120-day disability case on seafarers' claims
$1Bn deal for Brazil bulkers RIO de Janeiro headquartered Log-In Logistica has secured a $1Bn contract to transport bauxite for Brazilian steel company Alumina do Norte do Brasil (or Alunorte) over the next 20 years.
Borders secure, Basham eyes development of Customs trade strategy Basham says agency would be focusing more on trade enforcement after developing its border security strategy.
Is there a practical alternative to marine diesel? Today (May 9), trading in a barrel of crude oil raced through the USD125 barrier, heaping more inflationary pressure on global transportation costs. The price of crude oil has now risen by over 25% from the beginning of the year, on prices that were already double those of the previous year.
Felixstowe's delayed expansion finally gets going
Thamesport wins back the Grand Alliance
Independent Container Line sign up with WSC
Canadian government funding 'green' freight initiatives
Storm circles WMU ' Sweden cuts support to half When the IMO-governed World Maritime University in Malm', Sweden, is preparing its 25th anniversary, a large row has erupted over the school and the way it is managed. Last year, an external investigation was launched to examine the situation ...
Damaged port cranes complicates Burma aid The seagoing international aid to Burma following the tropical cyclone last week faces severe obstacles, due to a damaged main container terminal. Hutchison Port Holdings, which owns the Burma International Terminals Thilawa, says that terminal's cranes had been wrecked but ...
O. W. Bunker in fleet renewal O. W. Bunker & Trading Ltd. has taken the last steps in the company's fleet renewal. Two older ships have been sold off and two Clipper-owned tankers have been taken on bareboat charter for a period of seven years, and ...
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