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OMG Group (former Oslo Marine Group, St. Petersburg) halts the operations of the Vyborg Shipping Company (VSC Ltd.) which was created in 2007 to conduct container shipping operations.
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Mitsui O.S.K. Lines (MOL), Japan’s second largest shipping company in terms of sales volumes, announced it might move its container division into a separate business unit in order to avoid losses.
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The Danish shipping company Maersk Line launched a new weekly service Ecuador-Banana-Express (ECUBE) which will connect South America, Europe, and Russia.
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The Baltic Dry Index which tracks prices for transportation of bulk cargo around the world grew by 1505 points in 10 days.
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The Norwegian Hoegh Autoliners, one of the world’s leading companies in shipping cars by sea, plans to launch a regular service between the Middle East, India, and Africa at the beginning of July 2009.
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The German container operator Hamburg Süd received a new container vessel Monte Aconcagua with a capacity of 5,552 TEU.
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CMA CGM announced the company would increase its shipping rates on the Asia-Europe routes.
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The Novorossiysk Commercial Sea Port (NCSP, part of EVRAZ Group) took on the first vessel belonging to a new container line BVB Korean Line.
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The Israel Corporation offered its container subdivision Zim Integrated Shipping Services $50 million worth of credit in order for the company to be able to overcome the difficulties resulting from the falling demand for cargo transportation and decreasing freight rates.
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The Malaysian shipping company MISC Berhad has re-equipped one of its container vessels - Bunga Mas Lima - into an auxiliary military vessel for protecting its cargo ships from pirates.
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The government of Kenya plans to build a new container terminal in the port of Mombasa and takes out a credit of $200 million from Japan.
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The Japanese container line Nippon Yusen Kaisha (NYK) received a new bulk cargo vessel Federico II with a deadweight of 92,330 tones.
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The Baltic Dry Index which tracks prices for sea bulk cargo around the world exceeded the 3,600 point level on Monday, thus having approached the pre-crisis level.
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The South Korean oceanic transport company Huyndai Merchant Marine (HMM) redirected two of its Pacific services to Vietnam.
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Evergreen and China shipping have agreed on joint use of the Asia - Western Coast of US, the Asia - Europe, and the Asia - Mexico - Eastern Coast of US services.
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Large container vessels (with capacity of 8-13 thousand TEU), which have been actively acquired by all the major ocean lines during the recent years, may become the source of debt for their owners this year who will find it difficult in the times of falling demand for cargo shipping to pay the dockyards for their ships.
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Shuki Sadzhis, CEO of the Israeli port Ashdod, plans to halt the construction of a new container berth. He addresses the Israeli Finance Ministry with this proposal.
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NYK Line (India) and Container Corporation of india Ltd. (CONCOR) have signed an agreement for transporting automobiles in containers.
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The German container operator Hamburg Süd plans to modernize its American service UCLA and introduces a new Caribbean service Aztec.
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The Baltic Dry Index, an index of freight costs which tracks prices for sea freight of bulk cargo around the world, grew on Monday for the 16th trading session in a row having reached its maximum level since October of last year.
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