Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards. The demand is expected to remain elevated with spot voyages generating around 940 bln ton-miles per quarter, on average, during 2016 – around 1…
Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier as revenue fell by a quarter to USD18.5 million from USD24.7 million. Earnings before interest…
The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell unit to power onboard refrigerated containers. MARAD, through a cooperative agreement with the U…
Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015, delivering profit attributable to owners of the Company before separately disclosed items of $405 million…
Container Freight Station Association of India (CFSAI) has set up a full-fledged Secretariat and moved to its new office at “Anchorage Building” in Dronagiri Node on 26th August 2015. Mr. Sanjeev Behari, IRS, Chief Commissioner of Customs…
German container carrier Hapag-Lloyd is starting to see the commercial benefits of its integration with the container shipping arm of Compañía Sud Americana de Vapores (CSAV), which is now expected to deliver larger synergies than initially anticipated…
The Shipping Ministry, Government of India has named Anil Udhavrao Diggikar, a Maharashtra cadre Indian Administrative Service (IAS) officer of the 1990 batch, as the new chairman of the state-owned Jawaharlal Nehru Port Trust (JNPT).AT…
The keel for the second Commitment Class liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ship for Crowley Maritime Corp.’s liner services group was laid yesterday during a ceremony at shipbuilder VT Halter Marine…
The Indian ministry of shipping unveiled its vision document for Coastal Shipping, Tourism and Regional Development on Monday at Dona Paula, Goa at the 16th meeting of Maritime States Development Council (MSDC), reports Times of India. The…
American-owned NVOCC Troy Container Line Ltd. has appointed Chris Donzelli as the company’s new Midwest Account Executive. Based in Chicago, Donzelli has been charged with expanding Troy Container Line’s presence in the Midwest region. In this new position…
Despite a variety of adverse economic and climatic conditions, perishable reefer cargo growth appears unstoppable, according to Drewry’s latest Reefer Shipping Market Annual Review & Forecast. Worldwide perishable reefer trade increased by 1…
Mundra International Container Terminal (MICT) received the Gateway Award for Container Terminal of the Year in recognition of its performance, operational excellence, growth in throughput and breaking the one-million-TEU mark.The award was received by Tejas Nataraj CEO MICT…
NYK has been selected by the FTSE Group,* a global index provider, as a constituent in the FTSE4Good Index, marking the 13th straight year that the company has been included in this major yardstick for socially responsible investment (SRI)…
Matson, Inc., a U.S. carrier in the Pacific, has appointed Keoni Wagner as director of corporate communications, succeeding Jeff Hull, who is retiring from Matson after a 33-year career with the company. Wagner will report to Matt Cox, president and chief executive officer…
Maersk Line reported a first half-year 2015 (H1) result that is USD 220 million higher than H1 2014. This was achieved due to lower costs.Revenue in H1 was USD 12,517 million, which is 6.8% lower than H1 2014 (USD 13,365 million). Volumes were 1…