The U.S. Environmental Protection Agency (EPA) has awarded $2.4 million to the Port of Long Beach to help replace several existing cranes and tugboats with new zero-emission or cleanest-available equipment. The Diesel Emission Reduction…
Hapag-Lloyd closed the third quarter of 2017 with a significant positive Group net profit and a much improved operating result (EBIT). The integration with United Arab Shipping Company (UASC) is almost completed and on schedule to be finalized by the end of the year…
Italian shipbuilder Fincantieri has proposed to seek the privatization of Vard Holdings via a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST). Fincantieri, which holds a 79.34 per cent stake in Vard through a subsidiary Fincantieri Oil & Gas…
Australian coal rail operator Aurizon Holdings said on Monday it was in talks to buy the Wiggins Island Coal Export Terminal (WICET), which urgently needs to restructure $3 billion in debt. A purchase would mark a change in strategy under…
Yang Ming announced an increase in third quarter profits of 23.4 percent from the same quarter last year. At its board meeting on November 9, the company approved the financial report that showed revenues for the third quarter of 2017 rising to $1…
The major ports in India have recorded a growth of 3.27% during the period April to September, 2017 and together handled 383 Million Tonnes of cargo as against 371 Million Tonnes handled during the corresponding period of previous year. The Eight Ports i…
Attollo Offshore, an offshore marine operator, has announced it has joined London Stock Exchange Group’s (LSEG) international business support and capital raising ecosystem, for high growth companies, ELITE. The Aberdeen-based company…
TOTE Inc., courtesy of being the first in the world to order containerships powered by LNG, have been leaders in the push to design and build tonnage ahead of the emissions regulation curve. The company again makes headline with the announcement…
South Korean yard giant Daewoo Shipbuilding and Marine Engineering (DSME) ended the third quarter of this year with a profit of KRW 45.7 billion (USD 41 million), compared to a net loss of KRW 284 billion posted a year earlier, Yonhap said…
The Ministry of Commerce (MOFCOM) in China approved Danish shipping giant Maersk Line’s proposed acquisition of Hamburg Süd, reported Reuters. Maersk Line, the world’s biggest container shipping company, will pay 3.7 billion euros ($4.3 billion) to buy German rival Hamburg Sud…
According to a Reuters report, U.S. Commerce Secretary Wilbur Ross has divested his interests in oil tanker company Diamond S Shipping and is in the process of selling off his holdings in another shipping firm, Navigator Holdings, a Trump administration official said earlier this week…
“Many global financial institutions have committed to bringing their portfolios in line with the transition to a low-carbon economy. To fully achieve this, they must address the climate risks to hundreds of billions of dollars in shipping investments that will emerge as soon as 2023…
South Korean shipbuilder Samsung Heavy Industries (SHI) said that net profit for the third quarter of 2017 was down 81.8% year on year to KRW23.4 billion (USD20.44 million), mainly due to deliveries of low-priced vessels and a decrease in orders…
Global trade enabler DP World will develop a greenfield economic free zone in Somaliland to complement the development of the Port of Berbera, which has seen record container volumes under DP World management.DP World Group Chairman and CEO…
Scorpio Bulkers, announced that it has entered into two separate agreements with unaffiliated third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel. The deal was for an aggregate of $90 million, of which $77…