APM Terminals and Hong Kong-based COSCO SHIPPING Ports, a subsidiary of China COSCO Shipping Corporation, have reached an agreement on the key terms of the proposed sale of APM Terminals’ 76% majority shareholding in the existing APM Terminals Zeebrugge container terminal to COSCO SHIPPING Ports…
Global Ship Lease, Inc., a containership charter owner, has announced that it has signed time charter extensions with CMA CGM for two 2,207 TEU containerships, the 2002-built Julie Delmas and the 2003-built Delmas Keta. The vessels will…
The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has reported steady financial results for the six months ended 30 June 2017, despite challenging market conditions. The Club recorded a 99.3% combined ratio…
Greek Prime Minister Alexis Tsipras urged French businesses on Friday to invest in Greece, as it emerges from its debt crisis, and assured them that they would not regret it. Tsipras said attracting investment was a priority for his leftist-led government…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments. The overall index, which factors in rates for capesize…
Technological advancement for modernization of major ports and reforms for enhancing ease of doing business are driving and sustaining the growth trend line at India’s major ports. The country’s 12 major ports together handled 273.96 Million Tonnes of cargo between April to August…
The Piraeus Port Authority (PPA) SA has announced the completion of a tender and finalization of a contract with Cosco SH (Dalian) Shipyard for the purchase of a new floating repair dock, an initiative that the port's management has pursued over the past year…
Braemar Shipping Services plc announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH. Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping…
The Cruise Lines International Association, has released the findings from two new reports about the Asian Cruise market. The first, 2017 Asia Cruise Trends, is a comprehensive analysis of the cruise industry within Asia. The second, the 2016 North Asia Economic Impact Study…
German shipping group Rickmers, which filed for insolvency in June, said on Thursday its ship management unit had the all-clear to continue business after it was bought by Bremen-based Zeaborn Group and owner Bertram Rickmers.The company…
Port Manatee has been awarded a $946,950 federal security grant, enabling the Central Florida Gulf Coast port to double the number of outbound lanes at its main gate to securely accommodate increasing cargo volume. “With Port Manatee’s dynamic growth in containerized cargo activity…
Eagle Bulk Shipping, one of the world’s largest owner-operators in the Supramax/Ultramax segment, announced that it has taken delivery of the M/V Westport Eagle, the ninth and final Crown-63 Ultramax dry bulk vessel acquired from Greenship Bulk Trust…
The Baltic Exchange's main sea freight index, which tracks rates of ships carrying dry bulk commodities, posted its best day in nearly three weeks on Tuesday, helped by higher rates for all vessel types. The index, which factors in rates for capesize…
APM Terminals announced the sale of its 5% share in Terminal de Contêineres de Paranaguá (TCP) to China Merchants Port Holdings. The share sale was initiated and led by Advent, who is the controlling shareholder of TCP. Price and terms…
Despite a recovery in cargo shipping markets, ship manning costs will remain suppressed as shipowners and operators continue to be financially challenged and the officer shortfall recedes, according to the latest Manning report published by global shipping consultancy Drewry…