Pacific Tycoon
Blog / Apr 2012
Four Indian states – Andhra Pradesh, Kerala, Tamil Nadu and Gujarat – have approached the central government with proposals to invest at least Rs100B (US$2B) for the development of container ports, and signaling an end to the outdated Indian container shipping sector that has been dogged by port congestion concerns for decades. Reports surfacing from [...]
Tsakos Energy Navigation Limited (TEN) has announced the order of a new LNG carrier. The Greek company will be adding to its fleet with the purchase of the new state-of-the-art LNG carrier that will be constructed in South Korea and delivered to TEN in early 2015. John Stavropoulos, Chairman of the TEN Board, said about [...]
The United States Army Corps of Engineers (USACE) recently released the Savannah Harbor Expansion Project (SHEP) final documents, which outline the steps necessary to complete the project. According the USACE study, the project is estimated to run at $652 million, while providing a $174 million annual profit. The study says that for every dollar invested [...]
Compared to February 2011, container volume at the Port of Charleston this past February increased 9.2%. The largest port in South Carolina handled over 119,000 twenty-foot equivalent units (TEU’s), while increasing its cargo volume from January of this year by 5.8%. Jim Newsome, president and CEO of the South Carolina Ports Authority said, “We are [...]
A news release from the Maryland Port Administration revealed that the Port of Baltimore generated a 15% increase in the total volume of cargo handled in 2011. The port handled 37.8 million tons of cargo last year- up from the 32.8 million tons handled in 2010. The total value of the cargo handled last year [...]
German-based Hansa Shipping has elected to outfit four of its new 4,800 twenty-foot equivalent unit (TEU) vessels with the German ballast water treatment technology CleanBallast by RWO, a subsidiary of Veolia Water Solutions & Technologies. The ships, which will be built and delivered by the Chinese shipyard Jiangsu New Yangzi Shipbuilding, are expected to arrive [...]
The United Arab Shipping Company (UASC), which is headquartered in Kuwait with a corporate office in the UAE, took delivery of a new 13,500 twenty-foot equivalent unit (TEU) containership in February. The new vessel, which was named ‘Al Ula’ earlier this week, takes its name from the ancient city located between Madinah and Tabuk in [...]
Orient Overseas Container Line (OOCL) and the Port of Long Beach signed a $4.6 billion lease last week that will allow the Hong Kong-based shipping company to develop and maintain a more modern terminal in the Southern Californian port. The new terminal will allow OOCL to nearly triple its handling capacity at the port while [...]
A new contract has been awarded to AVIC Singapore from an undisclosed ship-owner for the construction and delivery of five vessels. The vessels, including three Azimuth Stern Drive tugboats, one diver boat, and one bunkering tanker, will be built at a cost of $60 million and are expected to be delivered in 2013. AVIC Singapore’s [...]
Athens-based Diana Shipping Inc. has announced the purchase of a Panamax dry bulk carrier with a total deadweight tonnage (dwt) of 76,225. The vessel has a price tag of $20.65 million and should be delivered later this month. The Diana Shipping fleet currently consists of 26 dry bulk carriers, including 16 Panamax vessels. The company’s [...]
