Cargo-carrying unit, OEG Offshore, announced its gain of OSCA Environmental Services Ltd., saying the acquisition expands its international reach in the Caspian region.OEG has acquired OSCA's 2,500-unit stock has multiple bases including: Baku…
MOL (America) Inc. welcomes Junya Nakamura as Senior Vice President of Transpacific, Caribbean, Latin (West Coast South America) Trade. For the Transpacific Trade, he will report to Richard Hiller, executive vice president, MOL Line and for the Caribbean and Latin Trade…
Nautilus Holdings Ltd, a Bermuda-chartered company that leases containerships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry.The company has about $770 million in debt…
CMA CGM announced the opening of CMA CGM Tchad, new Group Agency in N’Djamena (Chad), replacing its former third-party agent with immediate effect.cma-cgm.com
U.S. Federal Maritime Commissioner William P. Doyle issued the following statement regarding China’s decision on the proposed P3 Network:The People’s Republic of China has rejected the P3 Vessel Network Sharing Alliance based on the competition concerns in the Asia-Europe shipping market…
The Board of FSL Trust Management Pte Ltd has announced the appointment of Philip Tan Eng Lay as the company’s Chief Financial Officer, effective July 1, 2014. Philip most recently served as Regional Head of Finance at AET Tankers Pte Ltd…
High cube 40-foot containers are stealing a march on traditional 40-foot equipment and by the end of 2013 represented just short of 50% of the maritime container fleet, according to Drewry’s recently published Container Census report.The…
A.P. Moller-Maersk said on Tuesday it had abandoned a planned ship pooling network after China's Ministry of Commerce surprisingly announced it had not approved it. Maersk shares were down 6.2 percent at 1100 GMT compared with a 0.7 percent fall in the Danish benchmark index…
The P3 Network will not be implemented following decision by the Ministry of Commerce (MOFCOM) in ChinaToday, the Ministry of Commerce (MOFCOM) in China announced that they have not given their approval to the P3 Network.On March 24…
DP World took advantage of strong market conditions and scarcity value to raise a $1 billion convertible bond with a ten year lifespan on Thursday, in order to fund growth opportunities and diversify its funding sources.The issue is a rare…
MOL Liner Ltd. has announced that Richard “Dick” Craig has been promoted to President and CEO of MOL (America) Inc. effective June 24, 2014. He has 34 years of experience in the container shipping industry including over 11 years with MOL.MOL Liner Ltd…
European Sea Ports Organisation (ESPO) says it welcomes the recent decision of IMO’s Maritime Safety Committee (MSC) that containers must be weighed before being stowed on board ship; however it stresses that the weighing of containers should not burden port handling activities…
Global Container Terminals (GCT) has announced the retirement of James J. Devine, President & CEO of GCT USA, at the end of June, 2014. Devine’s retirement brings a distinguished 13-year tenure with GCT to a close, where he was instrumental in revitalizing the US operations…
The P3 Network – the long-term operational vessel sharing agreement proposed by CMA CGM, MSC and Maersk Line is subject to regulatory review in jurisdictions in North America, Europe and Asia.In the European Union (EU), the P3 Network was required to conduct a self-assessment…
Maher Terminals LLC, a multiuser container terminal operator in North America, announced the appointment of Frank Capo as Senior Vice President-Commercial. Capo's overall responsibility for Maher will be to drive and formulate Maher's commercial and customer service strategy…