Parcel delivery company UPS Canada has opened its expanded Torontoy distribution centre after a C$72 million expansion.

The new hub employs about 2,000 people and the firm says about a third of its current business is related to deliveries linked to Internet purchasing.

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• UPS opens new hub of Canada

     Parcel delivery company UPS Canada has opened its expanded Torontoy distribution centre after a C$72 million expansion.The new hub employs about 2,000 people and the firm says about a third of its current business is related to deliveries linked to Internet purchasing.Aircargo Asia Pacific

• UPS Canada opens new hub

     Parcel delivery company UPS Canada has opened its expanded Torontoy distribution centre after a C$72 million expansion.

• SCI India, sails set to dispatch a joint venture

    National carrier Shipping Corporation of India (SCI) has joined hands with another state-run enterprise, Steel Authority of India Ltd (SAIL) in the setting up of a joint venture that will provide shipping-related services. “We are making good progress on working out the nitty-gritty in the partnership,” said SCI chairman and

• To make Sri Lanka IOC, bunker supplies by local boats, the official

    Lanka IOC, a unit of the Indian Oil Corporation, said it was making ship oil or bunker deliveries from Colombo port through locally registered vessels after barges contracted by the firm were detained by Sri Lanka shipping authorities.

• NYK buys 26% in Tata Steel subsidiary

    NYK Holdings (Europe) BV has acquired a 26% stake in the logistics and harbour operation services subsidiary of Tata Steel Ltd. The Netherlands-based subsidiary of Japanese shipping firm Nippon Yusen Kaisha Line (NYK) paid an undisclosed amount for its shareholding in TM International Logistics Ltd (TMILL), located in Kolkata, an

• Songa Venus secures contract with Total E P Australia

     Songa Offshore is pleased to announce that a firm drilling contract has been agreed and signed with Total E&P Australia for their use of Songa Venus for the upcoming Drilling Campaign on the North Western Shelf of Australia. The program consists of two firm wells plus one Optional well, the

• UBS holds assessment of GE Shipping

    UBS maintains `Sell’ rating on GE Shipping and raises price target to Rs 250. The stock has underperformed the broader market over the past five months by 15% because of the downward trend in freight rates in the tanker segment. The weak fundamentals of supply and demand in the tanker

• Cargotec Hiab and Kalmar leads and re-names business units

    Cargotec announced on 22 June 2009 of merging Hiab and Kalmar business areas. As a result of the merger, Cargotec has now formed two business areas: Marine, which comprises current MacGregor business area, and Industrial and Terminal, which comprises current Hiab and Kalmar business areas. Read at Cargotec merges Hiab

• STX to buy wind turbine maker

     STX Heavy Industries Co., a unit of Korea’s STX Group, said Wednesday that it has signed a deal to buy a Dutch wind-power turbine maker for around 24 billion won ($19.4 million) as part of efforts to diversify revenue sources.  The company said it will spend more than 100 billion

• Transneft May Halt oil shipments to Belarus next week, refinery

    OAO Transneft, Russia’s state-run pipeline operator, may halt oil flows to the Mozyr refinery in Belarus next week after a supply agreement expired.