Business

In this modern era of technology where hybrid cars and electric trains are a norm now, Mercedes is busy completing the documentation of these new automobiles and is finishing the work by filing its trademarks for these vehicles. The German brand is working hard to bring its new competitor to …

Perth International Airport officials have announced that the main and cross runway’s will be temporarily closed at different timings from April to September 2016. The reason for closing the runways is to upgrade the infrastructure to a Category III (CAT III) aerodrome to improve visibility during inclement weather, such as fog. …

The spot rates on Asia-Europe trade routes fell to historic lows, dropping with 32% during the last week, reported Shanghai Container Index (SCFI). The index rates on Asia-Europe routes fell by 214 USD, reaching 444 USD per TEU, which is the lowest level in the history of the maritime transport. …

Hyundai Heavy Industries built its 2000th ship since its establishment in 1970. The South Korean shipyard completed the building and delivered the 2000th vessel to Diamond Offshore Drilling Services. The millennium vessel for Hyundai Heavy Industries is the drillship Ocean BlackLion. The shipbuilder is the first, which reached such record. …

Import volumes through Vladivostok port decreased by 40% for the first four months of 2015, compared with the same period last year. The decline occurred in almost all products, as motor vehicles and parts import decreased with 50%, equipment with 60%, meat and meat products by 40%. Also according to …

The Norwegian Golar LNG chartered six LNG carriers to the Swiss energy trader Trafigura. The vessels were time chartered until September and will transport liquefied natural gas to the newest tender of Trafigura – Argentina. The financial terms of the charter are not disclosed, but according to official sources, the …

The container operator CMA CGM increases capacity in Asia-North Europe routes, launching two new loops. The French container line will increase its capacity on the important trade route from 1 million TEU to 1.3 million TEU and the vessels engaged into the loops from 87 to 106. With such number …

The dockworkers at Port of Callao in Peru started indefinite strike against the alleged unfair treatment of union workers by management. According to the port operator APM Terminals the real reason for the strike is the changes in work practices and modernization of the port and the new electronic rotating …

Carnival Corp ordered nine new cruise ships with new architecture and modern marine engineering. The ships will be specially designed for the Chinese market, where will operate.Five of the vessels were ordered to Italian shipbuilder Fincantieri and will be constructed in Monfalcone and Maghera. The other four ships were ordered …

The port operator DP World bought Fairview Container Terminal in Prince Rupert port in Canada. The deal was contracted with the current owner of the major stake Deutsche Bank amounting to 460 million USD. The concession period in to 2034, which option for extension to 2056 after completion of Phase. …