The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R. Saadé, founder, Chairman and Chief Executive Officer of the CMA CGM Group…
Hyundai Heavy Industries (HHI) announced it has jointly developed world’s first gas turbine-powered 174,000 m3 LNG carrier with GE Aviation and Marine and has secured Approval in Principle (AIP) on the vessel from the U.K.-based Lloyd’s Register…
APL was the most reliable carrier with a global on-time performance of 85.5% in May 2015, according to the latest Global Liner Performance Report by SeaIntel Maritime Analysis. The report, which ranks the performance of the top 20 carriers…
GB Group inaugurated their Port Lafito, a world-class modern container port in Haiti. They informed that the port is now open and operational.Port Lafito is Haiti’s first Panamax Port with state of the art equipment and technology. The multi-million dollar project…
The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters. The growing vessel glut is battering sentiment…
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot, while the global shipbuilding industry saw new orders halve…
Monthly demolition rates in the dry bulk shipping sector averaged 3.3 million DWT for 1H15, according to new figures from BIMCO, compared to 1.3 million DWT last year. This included a record 5.36 million DWT in April – the highest on record for a single month…
A series of interesting and extreme price spikes is going on in the shipping market today, says Clarksons, provider of global shipping and offshore market intelligence. In fact the latest in a series of interesting and extreme price spikes is going on in the shipping market today…
Greek shipping companies are looking into moving to Cyprus due to the instability and uncertainty in Greece, it emerged, reports Cyprus News Agency. The director general of the Cypriot Shipping Chamber, Thomas Kazakos, said that a small…
Immediately after signing contract with signed with Hyundai Samho Heavy Industries to build five VLCCs, with an option to build additional five VLCCs, the National Shipping Company of Saudi Arabia (Bahri) signed a contract with Hyundai Samho Heavy Industries to build additional five VLCCs…
The CMA CGM Group hosted the Chinese Prime Minister, the French Foreign Affairs Minister and a ministerial delegation at its headquarters in Marseilles, July 1, the global shipping company announced. Chinese Prime Minister Li Keqiang was…
China COSCO Holdings Co Ltd says it has received ship scrapping subsidies for about 3.96 billion yuan ($638.71 million). It came through China Ocean Shipping, the controlling shareholder of the company, for the decommissioning and upgrading of vessels…
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the past seven years, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
LPG tanker Navigator Aries (23,333 dwt, built 2008), and containership Leo Perdana (33,423 dwt, built 2007) collided yesterday in waters off Gresik, nearby the Port of Tunjung Perak in Surabaya, Indonesia. The collision caused a fire on the 2008-built tanker…
As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping companies seek ways to cut costs, reports Bloomberg. Hyundai Heavy is the world’s biggest shipbuilder…