Chinese iron ore futures struggled to regain ground on Tuesday after recent sharp losses that drove the steelmaking commodity to its weakest since November and pulled down spot prices to below $70 a tonne for the first time in three months. Lean…
Somalia has banned Dubai ports operator DP World from operating in Somalia, saying that a contract that the company signed last year with the breakaway Somaliland region to develop an economic zone is null and void. It is unclear how Somalia's…
India's ambition to become a major steel exporter could be disrupted by U.S. import curbs, Steel Minister Chaudhary Birender Singh said, underscoring the need for free trade. 'Our exports have increased substantially, about 40 percent growth during January to December (2017)…
Danish shipping group A.P. Moller-Maersk's is betting on winning new customers for its port division by becoming a one-stop shop that can transport goods from factory to retailers' shelves. The move comes as Maersk, the world's biggest container shipper…
Newly published research shows that U.K. ports and terminals have an estimated £1.7 billion ($2.36 billion) of port infrastructure investment in the development pipeline. The research is part of the British Ports Association’s ‘Port Futures’…
Navios Maritime Partners, an owner and operator of drybulk and container vessels, announced today that it agreed to acquire a 2005-built Panamax Vessel for $12.95 million, with delivery expected in March 2018. It also announced that its board of directors has adopted a distribution policy of $0…
U.S. Commerce Secretary Wilbur Ross will speak with European Union representatives about lowering tariffs against the United States, President Donald Trump said on Monday.'Secretary of Commerce Wilbur Ross will be speaking with representatives…
Struggling commodity trader Noble Group Ltd said it would sell to Bianca Corp a Kamsarmax dry bulk carrier for $24 million in cash. The Hong Kong registered ship has a capacity of 81,499 deadweight tons. Built in 2015, the vessel, Ocean Integrity…
The South Korean government decided to restructure two financially-troubled mid-sized shipbuilders, said a report in Business Korea. While filing for court receivership for the debt-ridden Sungdong Shipbuilding, the government has decided to save STX Offshore and Shipbuilding Co…
The U.S. Department of Transportation (US DOT) awarded a $12.7 million Fiscal Year (FY) 2017 Transportation Investment Generating Economic Recovery (TIGER) discretionary grant to the Alabama State Port Authority for the Southeast Automotive Gateway in Mobile…
Imports at the nations’ major retail container ports are expected to dip slightly this month, but that’s the result of annual Asian factory shutdowns for Lunar New Year rather than new tariffs on steel and aluminum imposed this week, according…
Port of Oakland officials has promised a digital shipping platform by mid-year to speed up global trade flows. The Port said it’s building an online portal for transactions that range from tracking to transporting containerized cargo. The move…
Danish shipping company A.P. Moller-Maersk will begin expanding onshore services at its global port division to accommodate demands from companies like railway operators and freight haulers, according to newspaper Borsen. 'Until now it has been the big shipping lines that have paid our bills…
Despite a slight dip in volume of .7 percent in February, The Port of Virginia’s fiscal year 2018 cargo volumes are up nearly 4 percent, or nearly 69,000 TEUs. “February is a short month and our volume was relatively static, in a year-on-year comparison…
The Port of Indiana-Burns Harbor completed a landmark year in 2017 and is poised for significant future growth as a result of several historic developments. In addition to handling an 8 percent increase in cargo shipments in 2017, the port doubled the size of its bulk terminal…