On February 12, President Trump released his highly anticipated infrastructure proposal, a “Legislative Outline for Rebuilding Infrastructure in America.” Unlike prior federal infrastructure development strategies, which rarely discussed the need for maritime infrastructure investment…
Dan-Bunkering has announced the promotion of Bunker Traders Rali Bara and Lamin Bara in its Dubai office as of March 1, 2018. Rali Bara, who joined the Dubai office in 2013 was promoted to Bunker Trader & Team Leader and has during his…
* PSA International Pte Ltd (PSA) handled 74.24 million TEUs for the year ended 31 December 2017, representing an increase of 9.8% from the previous year.* PSA's flagship Singapore Terminals contributed 33.35 million TEUs, increasing 9.0% over 2016…
Kuwait Oil Tanker Company (KOTC) said on Thursday it had signed a 140 million dinar ($467 million) financing deal with three local banks for eight oil tankers, state news agency KUNA reported. The 10-year financing was obtained from Warba…
The Baltic Exchange's main sea freight index fell to over three-week low due to sagging demand for larger capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 7 points…
Brazilian farmers in top soy state Mato Grosso signed a memorandum of understanding with the Panama Canal Authority to evaluate ways to cut transportation costs and boost Brazilian grain volumes using the waterway, the authority's chief administrator said…
The United States has set conditions for scrapping its planned punitive tariffs on steel and aluminum imports from Europe, German magazine Der Spiegel reported, including capping U.S.-bound exports of the metals at 2017 levels. The European…
Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. A deepening drought in Argentina and limited corn supplies in Brazil…
Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close…
Global trade enabler DP World today announces strong financial results for the twelve months ending 31 December 2017. The company delivered earnings in excess of $1 billion and above 50% EBITDA margin for the full year.Revenue grew 13.2% and adjusted EBITDA increased 9…
During 2017 Wrist Ship Supply kept working with customers on enhancing their profitability and continued the steady expansion of its global business platform. Most shipping segments were depressed by low rates last year, and activity in…
DP World, one of the world's largest port operators, said on Thursday full-year profit rose 14.9 percent in 2017 and that it would spend $1.4 billion on capital expenditure this year. Profit for the period attributable to owners of the company after separately disclosed items rose to $1…
Ship Finance International Limited announced that it has agreed to acquire a fleet of 15 feeder size container vessels, ranging from 1,100 TEU to 4,400 TEU, in combination with long term bareboat charters to a leading container line. The purchase price is confidential…
South Korea's move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand…
Djibouti's container port will remain in state hands as the government seeks investment, a senior official said on Wednesday in comments likely to reassure Washington where lawmakers say they fear it could be ceded to China. The Doraleh Container Terminal is a key asset for Djibouti…