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01 September 2025 - Year XXIX
Independent journal on economy and transport policy
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FORUM of Shipping
and Logistics




The transport of refined oil products in 2004
 

The freight market
     Handysize
     Medium Range
     Long Range  
Demand for shipping 
Second-hand market

see also The crude oil transport

For the second year in a raw, 2004 will remain a memorable year for owners, since the market for product tankers registered an increased level of average daily returns. There has been a progress of over 20 % for all size of ships both for spot and period business.

As in 2003, the exceptional rise in this market has been due to the high level of growth in the US and the Far East, even if the development of the "paper" market, aided by some speculation particularly on the TC1 (75,000 mt naphtha Middle East Gulf / Japan) and the TC2 (33,000 mt UMS Continent / US Atlantic Coast) routes, helped contribute to the strong performance of the freight market.

The rise in rates, which began in December 2003, peaked in February, with daily returns approaching $ 40,000 per day. The drop registered in the months of March and April corresponded to an easing in the fuel oil market, before rates started to perk up again in May and June at around $ 25,000 per day. The traditional low point in the summer was around $ 20,000 per day and the expected recovery came at the beginning of October, which allowed the Medium Range product carriers (MR) to enjoy once again returns of $ 40,000 per day, whereas the Long Range (LR) were flirting with the $ 60,000 per day level.

Like last year, the rates paid for period charters were largely lagging behind the spot market. Nonetheless, if charterers were reticent about committing themselves to long term business at high levels, they accepted to pay record levels for shorter periods and started using floating rates agreements indexed on the spot market or linked to a profit sharing scheme.

However, whilst the market was able to absorb the some 130 MR ships, totalling 5.5 million dwt delivered in 2004, there is some doubt as to the chances of repeating this exploit in 2005, 2006, and 2007'
 

The evolution of product tanker freight rates in 2004
 

Yields for Handysize ships surpassed those obtained in 2003 by more than 20 % at nearly $ 25,000 per day, despite the "ice class" premium being virtually non-existent due to the mild winter season which started in 2004. Whilst these ships were most frequently employed in the Atlantic zone, some started to find employment around the Far East, especially the "shallow draft" units with a capacity of 45,000 cbm.
 


 

Within the European zone, both in North Europe as well as in the Mediterranean - Black Sea area, over half of the fleet was used once again in the transport of fuel oil and crude, with owners not hesitating to switch from clean to dirty and vice-versa, based on the rates differentials that could be obtained respectively in both sectors.

Charterers were not really keen to commit themselves to long period business due to the high expectations of owners, but starting in October and facing a strong surge in spot rates, they finally had to accept paying levels above $ 20,000 per day for periods of 12 to 18 months.
 


 

Bro Etienne
37,179 dwt, delivered in 2004 by Jinling, owned by Brostr'm Tankers

Ships operating in the Atlantic benefited from the sustained level of American demand for gasoline and fuel oil. Daily returns for a 33,000 t voyage - UMS - Continent / US, varied between $ 16,250, at the bottom of the market during the summer, to $ 40,000 per day in February and December, with the annual average working out at $ 26,500 per day.

Parallel to this, a traffic of gas oil developed between the US Gulf and Europe. In 2004 Europe imported 11.5 million barrels of gas oil from the US, which is the equivalent of 13 % of the American production.

As in 2003, ships operating in the East of Suez took advantage of the economic strength of the Far East zone, led by the growth in China, India, and Japan. Despite a seasonal decline in the spring, returns remained comfortably above $ 20,000 per day, notably after the month of October.

Long term period business was scarce, but traders such as Vitol, Trafigura, and especially Glencore were very active in the short period business (3 to 12 months) and did not hesitate to pay rates above $ 30,000 per day to the extent that they were able to hedge their positions on the "paper" market.
 


 

Garonne
37,178 dwt, delivered in 2004 by Hyundai Mipo, operated by OMI Corp.

The LR2 and the LR1 were also particularly helped by the strong demand coming from throughout the Far Eastern zone, notably China and Japan. As from mid-September, daily returns went from $ 30,000 to $ 60,000 per day for the LR1, whereas the LR2 were over $ 70,000 per day.

In this sector of the market, the "paper" business has an important role, but if the route TC1 (LR2 - 75,000 mt - Middle East Gulf / Japan) was heavily traded at the beginning of the year, it soon became obvious that the market was far more liquid on the TC5 route (55,000 mt - Middle East Gulf / Japan).

The market was also well supported by the numerous movements of kerosene from the Middle East Gulf to Europe and by the European exports of distillate and gasoline to the US.

Some long term period business was concluded on ice-class LR2 ships, but it was the LR1 size which was being sought after for trading clean products, fuel oil and crude. The majority of these fixtures were done in the first half of the year, which explains why the rates were around the $ 22,000 / 23,000 per day for periods of 3 years.

Despite the large number of new ships being delivered, 2005 should again be a year favourable to owners of product tankers. Even with a considerable increase in modern tonnage, the complete renewal of the fleet will be far from being accomplished by the end of 2005.

Delivery of new ships should result in: 

  • ships from 30 to 40,000 dwt: 48 ships totalling 1.75 million dwt,

  • ships from 40 to 55,000 dwt: 78 ships totalling 3.70 million dwt,

  • ships from 55 to 90,000 dwt: 40 ships totalling 2.75 million dwt, to which will be added some 20 coated Aframax tankers totalling nearly 2.0 million dwt.

Supply of tonnage will therefore increase significantly especially since the demolition level is low. At current rates, even the simple decision to put a vessel in technical lay-up is to be taken by the top management of the company. Notwithstanding, at the end of 2005, the Major's eligible fleet will only comprise some 650 ships for a little less than 30 million dwt against over 950 ships and 35.0 million dwt at the beginning of 1999.
  


 

The withdrawal of the older ships has been postponed due to the fact that certain niche business continues to be very remunerative: gas oil movements from the Black Sea, clean products for West Africa or even the market for vegoils and molasses. In addition, the high freight levels have convinced several owners to undertake necessary refitting work to obtain the mandatory certificates (C.A.S. / CAP 1 or 2), which will allow them to operate their ships beyond their twentieth anniversary.

(C.A.S.=Condition Assesment Scheme)

Nonetheless the international safety measures and the vetting services of oil companies continue to put pressure on owners of old vessels, whose days are numbered. We predict therefore that demolition will gradually increase throughout the coming year.
 


 

Cape Limboh
15,305 dwt, built in 2003 by Okean shipyards for Petromarine

Demand for shipping of clean and dirty products bound to the American zone or the Far East has been, like in 2003, the main factor maintaining the healthy state of the freight market.

Once again, it was the fuel oil market in the Atlantic zone which sparked off the rise in rates in mid-September. At the end of November only, rates obtained by the clean products have catched up with the levels achieved by fuel oil and crude. The clean products followed this trend a month later and they were able to match and then overtake the dirty product rates only by the end of November.

In the Far East, the increase in rates started at the beginning of September, namely two months earlier than usual. Then the very high levels tended to tumble, as much due to lack of available tonnage as due to technical shutdowns at several refineries in the Middle East Gulf.

However, the fundamental explanation is the continuing high level of imports, resulting from a lack of local refineries able to meet domestic demand in oil products. It is known that in the US ecological factors are curbing the expansion of refinery capacity and that the increase in capacities are not keeping pace with the demand in the Far East.

Under these conditions, the demand for transport of refined oil products should continue to increase in 2005, especially as the trend toward longer trade routes is likely to continue. There are even some projects being carried out to transport naphtha and condensate from the Mediterranean to China!

***

As we stated last year, "it is unavoidable that the large number of vessels being delivered in the next 2 to 3 years will affect the product tankers market". One can add that there has been some doubt expressed recently as to the persistence of the American growth and the reliability of the Chinese expansion (at the current pace of 9.5 % per year, the Chinese economy will double within 6 years)'.and finally cannot exclude the risk of a financial crisis in the Asian zone.
Nonetheless, except a major event, the year 2005 gives every sign of being propitious to product tankers owners. The arrival of over a hundred new ships should however dampen the volatility of the market and cause a modest drop in the daily average returns.
 

 
The product tankers second-hand market
 

The steady rise of product tankers freight rates during the year 2004 also had an impact on second-hand values. In a higher volume of transactions (around 150 Medium Range and Handy product tankers built since 1980 have changed hand in the course of the year) prices have dramatically risen.

The value of a five year-old standard double-hull 45,000 tonner, which was around $28 million at the end of 2003, progressed to $32 million by the end of June and up to an average of $39 million in December.

This rise also applied to the older units as, for instance, the value of a 20 year, single-hull, 45,000 dwt started at around $5 million in January 2004, to reach $7 million at the end of June and ended the year at around $9 million.

Lastly, a single-hull 40,000 dwt product tanker built at the end of the 1980's, for which one had to spend $11.5 million at the end of 2003, ended the year at around $16 million.
 


see also: the crude oil transport



Shipping and Shipbuilding Markets in 2004

I N D E X

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FROM THE HOME PAGE
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SBB CFF FFS Cargo's half-year performance was negative.
Bern
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Hong Kong
In the April-June period, net profit was 122.4 million dollars (+32.4%)
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Seoul
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Filt Cgil, priority should be given to valorizing AdSP workers rather than assigning positions
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COSCO Shipping International's revenues increased by 10.3% in the first half of the year.
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South Korea's HD Hyundai announces multibillion-dollar investment program to revitalize the U.S. shipbuilding industry.
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Agreements with the US investment firm Cerberus Capital and the Korea Development Bank
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Chinese oil company OOIL sees growth in its half-year financial results.
Hong Kong
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Haifa
In the period April-June the average value of freight rates fell by -11.6%
Interferry's Entry/Exit System risks delaying ferry operations at European ports.
Victoria
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Copenhagen
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Barcelona
202,321 TEUs handled at loading and unloading (+10.4%) and 142,492 TEUs in transit (-8.3%)
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Hamburg
Sharp increase in transshipment container volumes (+26%)
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La Goulette
In the first six months of 2025, 13.8 million tonnes were handled (-3.2%)
Port of Koper sets new quarterly records for containers and rolling stock
Ljubljana
In the period April-June, 5.6 million tons of goods were moved (-4.1%)
Port of Los Angeles hits record monthly container traffic
Los Angeles
Over one million TEUs were handled in July (+8.5%)
Hapag-Lloyd reports second quarter increases of +2.0% in revenues and +12.4% in containers transported by the fleet
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Hamburg
Net profit fell by -39.4%
Evergreen reports an 18.7% drop in quarterly revenues
Taipei
The April-June period closed with a net profit decrease of -62.9%
South Korean company HMM's revenues fell by 1.5% in the second quarter.
Seoul
Trump announces rejection of IMO's shipping decarbonization program
Washington
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Taiwanese companies Yang Ming and Wan Hai Lines reported negative results in the second quarter.
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Keelung/Taipei
In the period April-June, revenues decreased by -26.5% and -8.7% respectively
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Istanbul
In the first six months of 2025, an increase of +16.7% was recorded
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Zagreb
Cruise passengers grow by +5.4%
Container traffic at US ports is expected to plummet in the second half of this year.
Washington/Long Beach
In July, the Port of Long Beach handled 944,000 TEUs (+7.0%)
ThyssenKrupp shareholders approve spin-off of ThyssenKrupp Marine Systems
Eat
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Geneva
Global trade in goods is expected to grow by 0.9% this year
Hupac will increase the number of weekly rotations between Busto Arsizio and Basel from five to eight
Noise
Increase in attendance from September 1st
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Rotterdam
The barges must be equipped with flow meters
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Copenhagen
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The CIPESS has approved the final project for the bridge over the Strait of Messina.
Rome
Construction will begin this year and the project will be completed in 2032.
DHL Group revenues fell by 3.9% in the second quarter
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Bonn
Significant reduction in shipments from China and Hong Kong to the US due to Trump's abolition of the de minimis regime
The Grendi group has acquired 70% of Dario Perioli Spa
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The remaining 30% will remain with Fingiro, owned by Michele Giromini, the company's CEO.
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Seoul
The operation reportedly fell through due to a disagreement on the transaction price.
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Taranto
Containers stopped at just 4,000 TEUs (-27.4%)
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Rome
In the goods segment alone, an increase of +6.9% was recorded
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Anchorage
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Palermo
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Panama
Panama Ports Company says it is ready to confront the Panamanian government, but "at the appropriate time."
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Washington
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Mulino proposes the Panamanian state's entry into the consortium interested in acquiring Panama Ports Company.
Panama
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Singapore
In the April-June period, revenues decreased by -4% and net profit dropped by -89%.
Accidents to dock workers occur equally frequently on board ships as on land.
London
ICHCA report on nearly 500 accidents over the past 25 years
Norwegian Cruise Line Holdings reports record performance for the April-June quarter
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Miami
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Paolo Piacenza has been appointed extraordinary commissioner of the Port Authority of the Southern Tyrrhenian and Ionian Seas.
Rome/Genoa/Gioia Tauro
DB Cargo records declines in turnover and rail freight volumes
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Rome
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Cairo
1,248 tankers (-2.7%) and 1,826 other types of vessels (-8.5%) passed through
The Ministry of Infrastructure and Transport has asked the Region to agree on the appointment of Bagalà as president of the Sardinian Port Authority.
Rome
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DHL eCommerce has acquired a minority stake in Saudi Arabia's AJEX Logistics Services.
Bonn/Riyadh
The Middle Eastern company has two thousand employees
CMPort's port terminals handled record container traffic in the second quarter
Hong Kong
In the first six months of 2025 the total was 78.8 million TEUs (+4.3%)
Confitarma approves the decree on advanced training for tanker seafarers.
Rome
Applause to the General Command of the Port Authority Corps
Quarterly freight traffic in Moroccan ports increases
Tangier/Casablanca
In Tanger Med the growth was +17%
The board of directors of the Genoa-based Ente Bacini has been renewed.
Genoa
President Alessandro Arvigo and CEO Maurizio Anselmo
In the second quarter, sales of dry containers produced by CIMC fell by -33%.
Hong Kong
Reefer boats increase by 57%
The Grimaldi Group has taken delivery of the Grande Shanghai
Naples
It will be used for the transport of vehicles between East Asia and Northern Europe
The ART urges to verify that the investment plan and the related amortization period are consistent with the duration of the port concessions.
Turin
Chinese automaker FAW ships components to Europe by train
Changchun
Transit time reduced to 18 days compared to 45 days for maritime transport
The assets and fleet of the Spanish Armas Trasmediterránea will be sold to Baleària and DFDS
Las Palmas/Dénia/Copenhagen
Two agreements worth €215 million and €40 million respectively have been signed.
Italian State Railways (FS), investing €70 million to install the ERTMS system.
Rome
Work has been completed on 382 Trenitalia trains, while the retrofitting of 60 locomotives from Mercitalia Rail, an FS Logistix company, is underway.
MPC Container Ships' quarterly revenue returns to growth
The second quarter of 2025 was closed with a net profit of 78.1 million dollars (+20.5%)
Plans to build two container customs areas north and south of the Suez Canal
Cairo
Fourteen of the 48 abandoned shipwrecks in Catania port have been removed.
Catania
The activity will be replicated in the port of Augusta
The Regional Administrative Court (TAR) has confirmed the validity of the tender for the new Ravano Terminal in the port of La Spezia.
La Spezia
DP World's port terminals handled record quarterly container traffic
Dubai
Revenues grew by 22.2% in the first half of 2025
In the quarter April-June the volume of rolling stock transported by Höegh Autoliners increased by +9.0%
Oslo
Sharp increase (+46.6%) of vehicles from Asia
South Korea's HD Korea Shipbuilding & Offshore Engineering acquires Vietnam's Doosan Enerbility
Seongnam
It manages an industrial area with its own port facility
Container traffic in the port of Algeciras grew by 6.6% in July
Algeciras
In the first seven months of 2025, a decrease of -2.9% was recorded
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Salvini has appointed Annalisa Tardino as extraordinary commissioner of the Western Sicilian Sea Port Authority.
Rome/Palermo
The President of the Sicilian Region announces the appeal against the provision
In July, the port of Valencia handled 488,000 containers (+6.7%)
Valencia
Increase driven by growth in empty containers
The materials dredged in the ports of La Spezia and Carrara will be used for the construction of the new breakwater in Genoa.
Genoa/La Spezia
Agreement between the two Ligurian Port System Authorities
X-Press Feeders denounces authorities' failure to acknowledge responsibility in the X-Press Pearl accident
Singapore
According to the company, the Supreme Court ruling ignores international maritime law
Cargo traffic in Russian ports remained stable in July
St. Petersburg
In the first seven months of 2025, loads decreased by -4.6%
Container traffic in the port of Hong Kong decreased by -6.5% in July
Hong Kong
A decline of -3.7% was recorded in the first seven months of 2025
In July, the Port of Singapore set a new all-time record for monthly container traffic with 3.9 million TEUs.
Singapore
In terms of weight, containerized cargo decreased by -3.6%
Compensation to be paid by the Civitavecchia Port Authority in the Fincosit case has been set at €1.5 million.
Civitavecchia
Latrofa: The ruling allows the release of set-aside sums that have frozen the budget for years.
Germany's HHLA posts record quarterly revenue
Hamburg
In the second quarter, the group's port terminals handled 3.2 million containers (+7.9%)
In the first half of 2025, CK Hutchison's port terminals handled 44 million containers (+4.0%)
Hong Kong
In the quarter April-June the Wallenius Wilhelmsen fleet transported 14.8 million cubic meters of rolling stock (-0.5%)
Lysaker
Revenues down by -0.7%
In the second quarter, Montenegro's ports handled 670 thousand tons of goods (+0.6%)
Podgorica
Volumes with Italy amounted to 154 thousand tons (+53.1%)
With the arrival of the first container ship, the testing of operational procedures at the Rijeka Gateway begins.
The Hague
The first commercial ship is expected on September 12th
A proposal to bring the port of Taranto back onto global container routes? Start a discussion table.
Taranto
Meeting on the status of freight traffic
Port of Ancona: Tender for demolition of fire-damaged Tubimar warehouses
Ancona
The expected duration of the works is four and a half months
Merger of the German MACS and Hugo Stinnes, both active in the MPP vessel segment
Hamburg/Rostock
Stinnes headquarters in Rostock to close by December 31
A.SPE.DO, operationalizing the Smart Terminal to increase the competitiveness of the port of La Spezia.
La Spezia
In the second quarter, freight traffic in Albanian ports grew by +2.9%
Tirana
There were 331 thousand passengers (+13.6%)
ING loans to Premuda for over 100 million dollars
Milan
Funds for the management buyout and the purchase of two product tankers
Sallaum Lines has taken delivery of the first of six Ocean-class dual-fuel PCTCs
Rotterdam
The ship was completed four months ahead of schedule
First meeting of the new Management Committee of the Western Ligurian Sea Port Authority
Genoa
Several measures approved, including those for CULMV and CULP staff
Euroports to operate a new liquid bulk terminal in the French port of Port-La Nouvelle
Beveren-Kruibeke-Zwijndrecht
It is expected to become operational in 2026
In the second quarter, freight traffic in the port of Ravenna increased by +2.6%
Ravenna
Growth of 0.6% was recorded in June. An increase of 4.8% is expected in July.
OsserMare presents five reports on the marine economy
Rome
They focus on a specific sector supply chain or aspect of it
Port of Naples: Road haulage operations resume
Naples
Resolution meeting between institutions, operators and trade associations
ICTSI again reports record quarterly financial and operating results
Manila
Vard receives new order from North Star for two hybrid SOVs
Trieste
Contract worth between 100 and 200 million euros
Global Ship Lease Reports Record Quarterly Revenue
Athens
In the April-June period, net profit was 95.4 million dollars (+8.4%)
The Panama Shipping Registry will no longer accept the registration of oil tankers and bulk carriers over 15 years old.
Panama
Measure to counter the use of the shadow fleet
Danaos Corporation reports record quarterly revenue
Athens
The April-June period closed with a net profit of 130.9 million (-7.3%)
New customs fast corridor between the port of La Spezia and Interporto Padova
Padua
It adds to the other three already active on the same route
ICTSI to operate Indonesia's Batu Ampar Container Terminal
Manila
It is located on Batam Island
Pino Musolino has been appointed CEO of the Alilauro shipping company.
Naples
He replaces the resigning Eliseo Cuccaro
In the second quarter, DIS' time charter revenues fell by -37.1%.
Luxembourg
Net income was $19.6 million (-70.5%)
Austrian Rail Cargo Group is focusing on the development of the Sommacampagna-Sona intermodal terminal.
Vienna
Ten-year agreement
Wista Italy denounces the exclusion of women from the nominations of port authority presidents.
Milan
Musso: The glass ceiling that prevents women from accessing leadership roles remains.
In the second quarter, maritime traffic in the Bosphorus Strait decreased by -6.0%
Ankara
18.1% decline in ships over 200 metres in length
Fifty kilos of cocaine seized at the port of Civitavecchia
Rome
They were hidden inside a reefer container arriving from Ecuador
Trump has eliminated tariff exemptions for low-cost goods for all nations.
Washington
Goods with a value of less than $800 will also be subject to the tax.
Viking Mira was launched at Fincantieri's Ancona shipyard
Trieste
The multi-role frigate "Emilio Bianchi" was delivered to the Muggiano shipyard
The Port Authority of the Central-Northern Adriatic Sea has obtained EMAS registration
Ravenna
Certifies commitment to environmental management and sustainability
MSC Cruises reduces emissions with the support of an energy transition plan
Geneva
The 2024 Sustainability Report has been presented
DSV reports strong growth in financial and operating results thanks to the acquisition of Schenker
Hedehusene
Quarterly record in air and ocean shipment volumes
In 2024, the Fratelli Cosulich group's revenues increased by +12.8%
Genoa
Operating result down by -31.7%
In the second quarter of this year, Finnlines' revenues decreased by -5.0%.
Helsinki
Net profit of 26.1 million euros (+7.7%)
Container traffic in the Port of New York remained stable in the April-June quarter.
New York
An increase of +4.9% was recorded in the first half of 2025
The Chamber of Deputies approves the appointment of the presidents of five Port System Authorities.
Rome
They are Davide Gariglio, Francesco Rizzo, Eliseo Cuccaro, Francesco Benevolo and Giovanni Gugliotti
Latrofa appointed extraordinary commissioner of the Port Authority of the Central-Northern Tyrrhenian Sea
Rome
Ministerial decree signed
The PNRR tender for interports has been reopened.
Rome
Resources available amounting to 2.2 million euros
Port of Livorno: Workers are the priority in the LTM crisis
Livorno
UPS's quarterly earnings performance declines
Atlanta
Net income in the April-June quarter was $1.28 billion (-8.9%)
Approval for the 2025 budget variation of the Southern Tyrrhenian and Ionian Sea Port Authority.
Gioia Tauro
500 thousand euros for the 49% share held by the Port Agency company
PORTS
Italian Ports:
Ancona Genoa Ravenna
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Leghorn Taranto
Cagliari Naples Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venice
Italian Interports: list World Ports: map
DATABASE
ShipownersShipbuilding and Shiprepairing Yards
ForwardersShip Suppliers
Shipping AgentsTruckers
MEETINGS
Confindustria event on the sea economy in Rome on July 15th
Rome
The public meeting of the International Containers Studies Center will be held in Genoa on July 2nd
Genoa
››› Meetings File
PRESS REVIEW
Why Malta is objecting to a new price cap on Russian oil
(timesofmalta.com)
US has its eye on Greek ports
(Kathimerini)
››› Press Review File
FORUM of Shipping
and Logistics
Intervento del presidente Tomaso Cognolato
Roma, 19 giugno 2025
››› File
FHP Group acquires the remaining 10% stake in Lotras
Milan/Foggia
The integration between Lotras and CFI Intermodal will begin to create FHP Intermodal.
OITAF scientific document on good practices in the logistics and transport of fresh fruit and vegetables
Milan
The Northern Tyrrhenian Sea Port Authority has joined the PLIKA
Livorno
Platform dedicated to training, innovation and knowledge sharing in the logistics and port sectors
Matteo Paroli's nomination as president of the Western Ligurian Sea Port Authority has been signed.
Rome
He has a degree in law and a specialization in administrative law.
Container throughput increases in Haropa Port, while bulk cargo decreases.
Le Havre
In the first half of this year, containers were 1.51 million TEUs (+4%)
Bureau Veritas reports a 9.8% quarterly increase in revenues in the Marine & Offshore segment
Courbevoie
Kalmar and Konecranes increase new orders in the April-June quarter
Helsinki
The turnover of the two Finnish companies is slightly increasing
Container traffic in the port of Barcelona fell by 12.2% in the second quarter.
Barcelona
Assiterminal threatens a new wave of appeals against regulations it believes are damaging to port operations
Genoa
2M Logistics signs an agreement with Salerno-based Gallozzi
Barendrecht
The Dutch company will represent GF Logistics, a subsidiary of the Italian group, in the Benelux region.
Swiss company Kuehne+Nagel's quarterly profits fell
Schindellegi
In the period April-June of this year, net turnover grew by +1.7%
Yang Ming orders three 8,000 TEU container ships from Nihon Shipyard and Imabari Shipbuilding
Keelung/Imabari
Contract valued at $351.3-394.5 million
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