S&P Global adjusted their ranking on Panamanian infrastructure, including the Panama Canal Authority, from ‘stable’ to ‘positive.’ Two years after the inauguration of the Expanded Panama Canal, Standard & Poor's (S&P) Global Ratings revised…
Egypt's government denied in a statement on Thursday that the Suez Canal Authority was seeking a 300 million euro loan from Gulf lenders. Three senior banking sources that did not wish to be named had told Reuters last week that the authority…
Following three months of static air freight prices, they are finally moving again. The catalysts are seasonal changes in airplane assignments, looming European factory closures, and Amazon Prime Day. Meanwhile, ocean freight rates are now…
The risk to container shipping from US-led trade wars is currently low, but potentially very damaging, according to the latest edition of the Container Forecaster published by global shipping consultancy Drewry.“In the March report we said that we were hopeful of a peaceful resolution…
I was honored to be present in South Philadelphia on June 30 to witness the christening of the largest container ship ever built in the United States. It was built by Philly Shipyards for shipping company, Matson, Inc., and was named for the former Hawaii senator…
Maritime companies under market pressure have another negative force with which to deal: Steadily rising bunnker costs in tandem with oil's nearly year-long rise. According to Moody's, Hapag-Lloyd on June 29 revised its outlook for EBIT and…
Navios Maritime Midstream Partners, an owner and operator of tanker vessels, announced today that its board of directors has received a proposal from Navios Maritime Acquisition Corporation pursuant to which Navios Acquisition would acquire…
Largest Containership Built in U.S. Will Serve Hawaii. Matson, a U.S. flag carrier in the Pacific, and Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA (Oslo: PHLY) christened the largest containership…
As one of the world’s leading shipping lines, Evergreen Line, is enhancing its operations with 3,000 containers refrigerated by Carrier Transicold PrimeLINE® units, chosen for their refrigeration performance and power efficiency. Carrier Transicold is part of UTC Climate…
Scandinavian Shipping & Logistics acquires the forwarding company Unitrans. “By this takeover we strengthen our position as a logistics company, both in Sweden and on the global market”, says Björn Eklund, owner of Scandinavian Shipping & Logistics…
Diana Containerships announced that it has completed the previously announced sale of one of its Post-Panamax container vessels, the m/v Puelo, with the delivery of the vessel to her new owners. The global shipping company specializing…
Shipping Company, Diana Containerships, Inc., announced the sale of one of its Post-Panamax container vessels, the m/v Puelo, has been completed and will be delivered to her new owners.After the delivery of the vessel, the company will prepay about $19…
In order to meet increasing and diverse market demands, Evergreen Line has announced enhancements to its current Asia – East Africa service (AEF) – adding to its direct calls in Central & Southern China.Five vessels are currently deployed on the AEF service – three operated by Evergreen Line…
Consistent high performance by the UK Ship Register has seen it rise four places in the world under standards set by the Paris Memorandum of Understanding (MoU).It means the UKSR is now fifth under an assessment based on the total number…
Shares in German container shipping company Hapag Lloyd plunged 19 pct, hitting 1-year low, after the company cut its 2018 outlook. The Company cites 'unexpectedly significant' and continuing increase in operational costs, especially with…