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STX Pan Ocean Secures Pulp Freight Contract

STX Pan Ocean has won a KRW5.6tn ($5bn) contract from Brazilian pulp producer Fibria Celulose to annually transport up to five million tons of wood pulp. Under the deal, the South Korean firm will ship wood pulp to China, Europe and the US for 25 years from 2012. According to ...

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SITC to Build Two Container Vessels for Yangfan Group

SITC International’s subsidiary has won a $36.2m shipbuilding contract from Yangfan Group to construct two container vessels, along with an option for six more vessels. The container vessel will be built on a 1,100teu class gearless vessel with 11,850dwt. The vessels are scheduled to be delivered by 30 June 2012. ...

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Two cargo ships collide off Japan Coast

Two cargo ships, the Japanese-registered Eifuku Maru Number 18 and Sierra Leone-registered Jia Hui, have crashed about 11km west of Izu Oshima Island, leaving at least five Japanese crew members dead and six crew members missing. The 500t Eifuku Maru vessel capsized after being hit by the 3,000t foreign vessel. ...

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Indian Government to Reduce Export Transaction Costs

The Indian Government has announced 23 measures at eight ports in the country to reduce transaction costs on exports by INR21bn ($463.2m). The government expects that a cut in transaction costs through the initiatives will have a positive impact on the competitiveness of India’s exports. In India, the transaction cost ...

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