The new freight agreement runs until 2016, with an intention for a further four year extension. Under the new agreement, EUKOR will lift 100% of the volumes out of Korea until 2010. After this, EUKOR will carry the majority of the volume.
Flexible pipe specialist FlexTech said it has surpassed its first year turnover target of £500,000 just six months after start-up and anticipates reaching £1million by the end of the year.
In a bid to assist all sectors, China is to increase cash subsidies for scrapping obsolete ships by 50 percent to help cut over-capacity and emissions, reports Bloomberg.
Ocean carriers have a pool of surplus 8,000-10,000 teu vessels looming ahead unless some thinking ‘outside of the box’ is behind recent newbuild orders, considers