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The latest news from companies at Pages.

1,663 days ago by arnekiel

TUI struggles to divest Hapag-Lloyd
TUI AG is pushing back the deadline for the planned divestment of a stake in Hapag-Lloyd again as it struggles to find a buyer, five people familiar with the process said, Reuters reports."We need a more stable market environment. At the moment it is impossible to get a fair valuation," a person close to the owners of the world's fifth-biggest container shipping line told Reuters on Thursday. It is now unlikely that any sale will be agreed this autumn, and talks may drag on until next year, two other people said. German tourism group TUI AG aims to exit its 38.4 percent holding in Hapag-Lloyd and has said it had not yet decided whether to sell or float its stake, adding it may also use its put option. Read more at

"K" Line to Launch New Direct Service from Far East to India and Pakistan
KAWASAKI KISEN KAISHA, LTD. ("K" Line) is pleased to announce launching of a new dedicated service (called CIX-2) between the Far East and Indian Sub-Continent from 10th August 2011. The new CIX-2 service, currently operated by Evergreen Line and Simatech Shipping, will run with six 2500-2800 teu vessels and offer a fixed-day weekly sailing. "K" Line will deploy one vessel to this new service. The port rotation will be as follows: Xingang - Qingdao - Shanghai - Ningbo - Singapore - Tanjung Pelepas - Port Kelang - Nhava Sheva - Karachi - Colombo - Port Kelang - Tanjung Pelapas - Singapore - Xingang. "K" Line presently operates another weekly service (called INDFEX) calling at Nhava Sheva port. The new service will double sailing frequency for Nhava Sheva and newly add Xingang and Qingdao as direct calling ports.

MOL orders 4 LNG carriers at Hudong-Zhonghua
Shanghai's Hudong-Zhonghua Shipbuilding has signed orders to build four liquefied natural gas (LNG) carriers worth about $1 billion from joint ventures of Japan's Mitsui OSK Lines (MOL), its first major LNG export orders, a newspaper reported on Monday. Ship brokers said the ships, which can carry 172,000 cubic metres of LNG each, were expected to cost about $200-250 million apiece, the South China Morning Post reported. Hudong-Zhonghua is controlled by China State Shipbuilding Corp, one of the two largest shipbuilding conglomerates in the country. Two of the ships will be operated by MOL and East China LNG Shipping Investment, while the other two will be operated by MOL and North China LNG Shipping Investment, it said. North China LNG Shipping and East China LNG Shipping are joint ventures established by China Shipping Group with China National Petroleum Corp (CNPC) and Sinopec Group respectively.

1,667 days ago by arnekiel

MSC and CSAV launch new India-Europe service
Mediterranean Shipping Company and Chilean carrier CSAV entered a vessel sharing agreement to launch a direct container service linking India and Europe, starting next month, Journal of Commerce reports.The move follows CSAV’s decision to suspend its independently-operated IMEX Service and instead join MSC’s IPAK Service as part of recently announced consolidation plans amid weakening demand on Asia-Europe trade lanes. The new VSA calls for deployment of seven vessels of 6,500 20-foot equivalent units capacity, with MSC providing five ships and CSAV, two. The westbound port rotation of the restructured IPAK remains the same as the current schedule offered by MSC. On the eastbound leg, the Jeddah call will be discontinued. The revised IPAK rotation will be: Nhava Sheva (Jawaharlal Nehru), Pipavav, Mundra, Salalah, Jeddah, Gioia Tauro, Valencia, Bremerhaven, Antwerp, Felixstowe, Salalah, and back to Nhava Sheva.

1,668 days ago by arnekiel

Wärtsilä to supply main engines for 25 new Russian tankers
Wärtsilä, the marine industry's leading systems integrator, has been awarded the contract to supply the main engines for a series of 25 tankers being built for Volga Shipping Co., Russia's oldest shipping company. Fifteen of the ships are to be constructed at the Okskaya yard in Navashino for ship owner Volga Flot Tanker, and the other ten at the Krasnoe Sormovo yard in Nizhny Novgorod, five for Bash Volga Tanker and five for Volgotrans. All these three ship owners are part of Volga Shipping Co. The scope of the supply includes two 6-cylinder Wärtsilä 20 main engines to be supplied for each vessel. Delivery of the machinery will commence in the autumn 2011, and should be completed by mid 2013. The first vessel is scheduled to be fully operational by the end of 2012.

1,670 days ago by arnekiel

CSAV inks alliance with MSC
Chilean containership operator CSAV has joined forces with the Mediterranean Shipping Company (MSC) to jointly operate loops along four key trade lanes, TradeWinds reports.

1,671 days ago by arnekiel

Cosco hires armed guards against pirates
CHINA's largest carrier Cosco and some Hong Kong shipowners, including Pacific Basin Shipping, Wah Kwong Maritime Transport and Valles Steamship, have hired armed guards to repel pirates in the Gulf of Aden and the Indian Ocean. "We will take measures to defend ourselves," Cosco chief operating officer Guo Jin told the South China Morning Post. "Our ships are relatively small; they are not fast - about 15 knots - so we have to employ armed security. We don't want to injure people, but we have to protect ourselves." The carrier will spend about US$12 million on armed guards and anti-piracy measures this year and is in favour of British security firms as they employ former Special Air Service and Royal Marine commandos.

1,671 days ago by arnekiel

Hamburg Sud cuts North Europe-Turkey service
Hamburg Sud, citing "unfavourable trading conditions", has announced it will cut a loop from its north Europe to eastern Med service in August with Northern Route Service (NEMN) to Turkey disappearing while the revised Southern Route Levante Service (NESM) will call at "key" ports on the abandoned route. The surviving NESM will be reconfigures, deploying 2,500-2,700 TEU ships on the following rotation: Felixstowe, Antwerp, Hamburg, Tangiers, Alexandria, Limassol, Beirut, Latakia, Mersin, Izmir, Alexandria, Salerno and back to Felixstowe.

MOL to launch hybrid powered ncar carrier in 2012
Mitsui O.S.K. Lines (MOL) announced the exterior and basic design of the hybrid car carrier aiming at zero emissions while berthed had been determined. The vessel will be launched at the Mitsubishi Heavy Industries, Ltd., Kobe shipyard in June 2012. The vessel will be equipped with a hybrid electric power supply system that combines solar power panels for generation with lithium-ion batteries for power storage. The system is the result of a cooperative study group of experts from Mitsubishi Heavy Industries, Sanyo Electric Group, and MOL. With solar panels on every bit of flat, exposed upper deck space, this system generates some 160kW, more than ten times as much as current systems on other ships, making it the most powerful system of its type in the world. Read more

1,674 days ago by arnekiel

Cosco Heavy Lift plans fleet renewal with 40 ships
Cosco Shipping plans to build 40 new semisubmersible heavy-lift vessels over the next five years to replace older vessels at a cost of US$1.5 billion. The renewal program is timed to coincide with the growing demand for offshore wind development and a revival of offshore oil and gas exploration, according to international reports. "We are carrying more and more equipment for wind farms. We carry a lot of this type of equipment," Guo Jin, Cosco Shipping’s chief operating officer, told reporters following the June christening of the 48,231-deadweight-tonne Xiang Rui Kou at Guangzhou Shipyard International.

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