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Oversight by 1 body to fuel hub vision

Business | Shipping and ports
2009-11-19

THE Shanghai government launched a commission yesterday to oversee the city's two major ports and the Pudong International Airport as well as three free-trade zones as part of its efforts to develop the city into...

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Port firm deepens ties with cruise line

Business | Shipping and ports
2009-11-10

SHANGHAI International Port Group yesterday signed a memorandum of understanding to deepen a strategic partner relationship with a cruise line operator in an effort to boost the cruise economy in the city. The...

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Behemoth cruise ship passes bridge test

Business | Shipping and ports
2009-11-2

THE world's largest cruise ship cleared a crucial obstacle yesterday, lowering its smokestacks to squeeze under a bridge in Denmark. The Oasis of the Seas - which rises about 20 stories high - passed below the...

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Shipper's Q3 profit sinks 81%

Business | Shipping and ports
2009-10-24

CHINA Shipping Development Co has said its net profit for the third quarter sank 81 percent year on year after overcapacity hurt its dry bulk and crude oil carrier operations. Its net income for the July-September...

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Certification for Yangshan port

Business | Shipping and ports
2009-9-17

THE northern section of Yangshan Deep-water Port has received national certification after an inspection, Ministry of Transport officials said yesterday. The certification means the project meets national standards. ...

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Port net earnings dip 30% on less cargo

Business | Shipping and ports
2009-9-1

SHANGHAI International Port Group reported a 30 percent drop in its first-half profit due to a slower turnover of cargo as an economic crisis hurts exports. The company reaped a 1.71 billion yuan (US$252 million)...

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COSCO's loss may see orders canceled

Business | Shipping and ports
2009-8-29

CHINA COSCO Holdings, the country's largest shipping group, plans to cancel orders for container vessels and delay delivery of new ships after it sailed into a loss in the first half of this year. The shipper...

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Cargo throughput ekes out small rise

Business | Shipping and ports
2009-8-26

CARGO throughput increased 3.5 percent year on year in the first seven months as the global economy showed signs of a recovery, China's Ministry of Transport said yesterday. Ports handled a total of 3.88 billion...

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Shipper sails to net loss in H1

Business | Shipping and ports
2009-8-22

DANISH container shipping and oil group A.P. Moller-Maersk A/S yesterday posted a six-month net loss of US$540 million, citing a drop in global shipments of goods amid the economic crisis. During the year-ago period,...

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Output up 33.7% at domestic shipyards

Business | Shipping and ports
2009-8-20

THE total output of domestic shipyards was worth 300.6 billion yuan (US$44 billion) in the first seven months of this year, the Ministry of Industry and Information Technology said yesterday. The output was 33.7...

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Waigaoqiao plans trade increase

Business | Shipping and ports
2009-8-13

WAIGAOQIAO Free Trade Zone, China's earliest and economically strongest bonded area, plans to increase its share of Shanghai's trade to 30 percent in two or three years from the current 20 percent. The zone's...

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Chinese ports see more cargo throughput

Business | Shipping and ports
2009-7-24

CHINESE ports are expected to post a rise in cargo throughput this year though containers handled may decline due to a still unstable economic situation, an official at the Ministry of Transport said yesterday. The...

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COSCO unit cancels orders for eight vessels

Business | Shipping and ports
2009-7-17

A UNIT of China COSCO Holdings Co has canceled a US$299 million order for eight vessels as the global recession cut the shipping company's profit. COSCO (Zhoushan) Shipyard Co has canceled the orders for two vessels...

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QE2's new home looms

Business | Shipping and ports
2009-7-13

THE cash-strapped Dubai owner of the Queen Elizabeth 2 is weighing plans to open the British ocean liner as a floating hotel elsewhere in the Middle East or Africa rather than in the struggling Persian Gulf sheikdom. ...

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Ship firm banks on timing for HK float

Business | Shipping and ports
2009-7-11

JIANGSU Rongsheng Heavy Industry Co may go public in Hong Kong as early as this year to raise US$2 billion. "An initial public offering within the year is possible, though more likely in 2010," Zhang Ming, managing...