Mangaluru to host Ports, Shipping & Logistics summit on 22 Nov.

India Seatrade, in association with Federation of Indian Export Organisations (FIEO) will organise ‘Karnataka Ports Shipping and Logistics Summit 2019’ in Mangaluru on November 22. The Summit is an effort to bring together the maritime stakeholders across the country to present the potential that exists, to deliberate on the challenges being faced, and to evolve.

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Intra-Asian container rates hit by fierce competition

Intense competition has hit freight rates in the intra-Asian container trades according to longstanding player Regional Container Lines (RCL). Releasing its third quarter results Bangkok-headquartered RCL said that Q3 the average freight rate had fallen by 15% year-on-year and by 7% compared to the previous quarter. “Despite the difficult trade environment, intra-Asia trade demonstrates the.

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Surprise as Soren Toft leaves Maersk “with immediate effect”

Maersk Line has announced that its chief operating officer Soren Toft has decided to leave the company. In a surprise statement, the Danish company said that Mr Toft “has decided to pursue an opportunity outside of the company and will leave effective today”. The responsibilities as chief operating officer will in the interim be taken.

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Great Eastern pounces for suezmax pair

India’s Great Eastern Shipping has emerged as the buyer of two 14-year-old, 159,000 dwt suezmaxes, the Cape Bari and the Cape Bastia. The two ships were previously owned by Konig & Cie and fetched a price of $23m each, according to Advanced Shipping & Trading. Chatter about the ships started in July when they were linked to Bob.

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Goa’s shipping industry still off-course

Goa’s shipping and logistics industry remains in choppy waters, going by the viewpoint expressed by industry during the just concluded Indo-French Conclave 2019, finds out Shoma Patnaik With excellent network of inland waterways comprising of 255 km of rivers, canals and estuaries, the state’s natural advantages in shipping and maritime trade is perhaps the best.

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Shipping ministry not opposed to strategic divestment of SCI: Official

The Shipping Ministry is not opposed to strategic divestment of the Shipping Corporation of India (SCI), a top official said. The Shipping Ministry in 2017 had opposed the proposal of the strategic divestment of SCI, but has now agreed to the proposal of the group of secretaries for dilution of stake in the SCI, the official said..

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