Moody's Investors Service has changed to stable from negative the outlook on the B2 corporate family rating (CFR), the B2-PD probability of default rating (PDR) and the Caa1 senior unsecured rating of Hapag-Lloyd AG. Concurrently, Moody's has…
The annual Terminal Operators Conference (TOC) in Europe was held June 9-11 in Rotterdam with over 4000 people attending the conference supply chain sessions, Tech TOC, Bulk TOC venues and exhibits. Alex Duca, head of design and automation for APM Terminals called for a sensor revolution…
United Nations' International Maritime Organization (IMO) adopted globally binding regulations for ships using liquefied natural gas (LNG) as fuel.The IMO has just adopted a new international code of safety for ships using gases or other low-flashpoint fuels – the so-called IGF Code…
Capital Product Partners (CPP) has taken delivery of a new panamax containership, which will commence a five-year timecharter to CMA CGM. It also has won a timecharter from Cargill, and another two have had their charters to Capital Maritime extended…
US-headquartered owner and operator of modern Very Large Gas Carriers (VLGC) Dorian LPG took delivery of the ECO VLGC Cougar from Hyundai Samho Heavy Industries. Cougar, Dorian LPG's fourth newbuilding delivery, will initially trade in the spot market through the Helios Pool…
The global macroeconomic scene has become more volatile, with prominent factors such as oil prices and global currencies causing a commotion. This is resulting in large-scale distributional changes of wealth and income that will impact global trade patterns in the long run if these changes stick…
In response to market demand, members of the G6 Alliance today announced service enhancements in the Asia – North America (Pacific Southwest) trade.Service EnhancementsCentral China 2 (CC2) Service – Additional Pusan callThe CC2 service will be upgraded to include a permanent Pusan call…
Sharjah-based ports operator Gulftainer has opened Canaveral Cargo Terminal at Port Canaveral in Florida in the US for business. Gulftainer, a subsidiary of UAE-based conglomerate Crescent Enterprises, said the opening comes one year after…
The International Association of Classifications Societies (IACS) has adopted new Unified Requirements that will further improve the safety of Large Container Ships by enhancing consistency between pre-existing Class Society provisions in this area…
The rapid expansion of container shipping capacity this year threatens to reverse the strong profitability ocean carriers showed in the first quarter, Drewry Shipping Consultants Ltd said. Carriers weathered a storm of low rates in the…
The world’s largest listed crude-tanker operator Euronav is planning to buy 18 tankers for around $1.2 billion in one of the biggest deals involving oil carriers this year, reports WSJ. The reports says that Euronav is in advanced discussions…
Cargomatic announced that technology executive Sean Whiteley has joined the company as chief operating officer. Whiteley will be charged with overseeing operations, sales and marketing efforts for Cargomatic as it continues its mission to transform local trucking through its mobile technology…
Anthony Chiarello, Matthew J. Cox and James C. McKenna named 2015 USS Admiral of the Ocean Sea Award recipients The United Seamen's Service (USS) 2015 Admiral of the Ocean Sea Awards (AOTOS) will be presented to Anthony Chiarello, President and CEO of TOTE…
Two shipping companies and their masters have been prosecuted by the Australian Maritime Safety Authority (AMSA) for two separate marine pollution incidents within the Great Barrier Reef. Tokyo based Perses Maritima Ltd and the master of…
PSA International (PSA) established itself as the first and only Global Terminal Operator in the Guangxi-Beibu Gulf region by signing a Joint Venture Agreement with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL) to operate…