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Golden Dragon Holdings, Inc. (GDHI) has signed a commercial shipping and logistics contract with French shipping group CMA CGM.

Member lines participating in the Far Eastern Freight Conference (FEFC) saw their peak leg box volumes grow by 9.3 per cent in May on the Asia-Europe trade compared to the same month a year ago to hit 0.85 million TEU.

Japan's second-largest shipping company Mitsui O.S.K. Lines Ltd is expected to report a pretax profit of about 80 billion yen ($752.4 million) for the three months ended June 30, up 20 percent on the year thanks to higher fares for bulk carriers, the Nikkei reported on Friday, without citing sources.

Russia's Energy Ministry expects oil production in 2008 to exceed that in 2007, the head of the ministry Sergei Shmatko told journalists today according to RBC. He noted that, given the current market situation, an increase in oil output made economic sense for Russian companies.

Two buyers have shown interesting in jointly acquiring near-bankrupt Italian carrier Alitalia's cargo assets, Reuters reports.

Gold Star Line is set to withdraw from the trans-Tasman trade, another victim of fuel costs, the Taranaki Daily News reports.

Maersk Lines has increased its Bunker Adjustment Factor charge in light of increasing fuel surcharges, the National Business Review reported.

Container lines in the ESPMC-WITASS conference are about to introduce a peak season surcharge of 310 euros per TEU for all southbound cargo in the trade between Europe and the Caribbean.

Gap Sook Lee, president of the Busan Port Authority, stepped down from his post this week and was replaced Thursday by Ki Tae Roh, the Korean port said in a statement.

The Tampa Port Authority (TPA) and the Panama Canal Authority have agreed to extend their strategic alliance in a bid to boost trade, information sharing and promote the all-water route from Asia to the US east and Gulf coasts via the Panama Canal.

India shipping industry expert Anil Devli, the executive director of Shreyas Shipping & Logistics and the new chairman of the Container Shipping Lines Association (CSLA), says "there is no option to containerisation" in the rapidly developing nation.

DP World has landed the rights to operate and develop the container handling facilities in the port of Aden in Yemen.

While neither affirming or denying an intention to buy Hapag Lloyd, Ron Widdows, recently appointed new chief of Singapore's Neptune Orient Lines (NOL), said he expects another round of consolidation in the container shipping industry.

California Republican governor Arnold Schwarzenegger is likely to ratify a tax of US$30 per TEU at the ports of Long Beach, Los Angeles and Oakland, reports American Shipper.

Maintaining only one office is Chian, Hamburg Sud has received permission from China's Ministry of Communications to open seven proprietary offices on the mainland.

Negotiations for a new US west coast dockers contract are fraying as the Pacific Maritime Association (PMA), representing the employers, charges the International Longshore and Warehouse Union (ILWU) with conducting a work slowdown to pressure management during the talks.

A threatened strike by Indian dockworkers set to begin today never came to pass as the country's Ministry of Shipping met pay increase demands to avert the stop-work action.

Kolkata Port Trust (KoPT) floats request for qualification (RFQ) next month since an earlier project cost for construction of a container terminal at Diamond Harbour dock system doubled, reported India's Business Standard.

India's second-busiest container port is set to increase its tariffs by 10 per cent from next month until the end of 2009, according to The Hindu newspaper.

Westports Malaysia in Port Klang increased its throughput by 17 per cent during the first half of 2008, after handling 2.45 million TEU, up from 2.08 TEU million for the same period last year.