The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million…
Keppel Shipyard Ltd (Keppel Shipyard), is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to BW Catcher Limited, a wholly-owned subsidiary of BW Offshore. When completed BW Catcher will be on a 7-year fixed…
French shipping group CMA CGM and Adani Ports and Special Economic Zone (APSEZ), India’s leading port infrastructure developer and part of the Adani Group, today signed a joint venture agreement, to operate a new container terminal (CT4) at Mundra Port…
Given the mounting pressure on freight rates and continuing fleet growth over the next two years, Drewry believes that excess vessel supply will reduce only gradually with the recovery in rates pushed back to the latter part of next year, according…
In a meeting in Manila on April 18, OSM signed a joint venture agreement with “K” Line’s crewing agency Ventis to provide Filipino crew to “K” Line’s entire fleet of liquefied natural gas (LNG) carriers. “Today marks a significant milestone in the relationship between ‘K’ Line group and OSM…
Navios Maritime Partners, an international owner and operator of drybulk and container vessels, announced that it has agreed to acquire one 2010-built Capesize vessel of 178,132 dwt for a purchase price of $27.5 million. The vessel is expected…
Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification…
Port Manatee has extended its agreement with World Direct Shipping to maintain its swift weekly service between the Florida Gulf Coast port from the Mexican state of Veracruz for as many as five more years. Under a lengthened pact approved April 20…
Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017…
Seanergy Maritime Holdings Corp has entered into a time charter contract (T/C) with a major European charterer, for one of its Capesize dry bulk vessels, for a period of about 18 months to about 22 months. The T/C is for the 180,000 dwt…
Corvus Energy has announced that it will provide Orca Energy lithium-ion energy storage systems (ESS) for four hybrid rubber-tired gantry cranes (RTGs) for CCCC Shanghai Equipment Engineering (CCCCSEE). The RTGs are the first of many cranes…
DryShips Inc has entered into a one year time charter with a major grain house for one of its 206,000 dwt Newcastlemax drybulk vessels for an expected duration of about one year. The Company anticipates a total gross backlog of $7.1 million…
In early April DCNS delivered the FREMM multi-mission frigate Auvergne to the French Navy, the fourth of the series ordered by OCCAR1 on behalf of the DGA (French armament procurement agency).Delivery of the FREMM multi-mission frigate Auvergne…
Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three…
Dredging works for the deepening and widening of the access channel toward Jawaharlal Nehru Port in Mumbai, India is scheduled to commence in the coming weeks and last for approximately two years. The dredging will enable the country’ largest container handling port…