XL Catlin has announced the promotion of Rob McAdams to the position of Chief Underwriting Officer for Global Marine with immediate effect. Previously, McAdams held the role of UK/ Ireland Marine Leader.McAdams has 20 years’ experience in the insurance industry…
Hoegh LNG Partners closed the acquisition of 51% interest in Höegh LNG Colombia Holding, the owner of the entities that own and operate the Höegh Grace on January 3, 2017. The results of the Höegh Grace contributed to the Partnership's earnings for the full first quarter of 2017…
Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg. With 230 vessels and a shared fleet capacity of approximately 1.6 million TEU…
German shipping line Hapag Lloyd and Arab sector peer UASC have completed a delayed merger which creates the world's fifth-biggest shipping company.The German company said on Wednesday that the deal to combine the two businesses, announced in April 2016 and sealed in July last year…
Gulf-based bidders have emerged for the part-owned subsidiary of United Arab Shipping Company (UASC) whose sale is key to finalising the merger between UASC and German container shipping line Hapag Lloyd , sources close to the matter said. Last week…
Oslo-listed dry bulker Jinhui Shipping sees a bumpy road ahead despite signs of a recovery in the dry bulk market. The road to recovery will be challenging and the market will remain volatile, vice president Raymond Ching told the Q1 conference call on Monday…
Alistair Cross was flying high after showing in a pilot project how blockchain - the technology first developed for the crypto-currency bitcoin - could transform the old-fashioned and secretive world of commodity trading. But since the pilot ran early this year…
Cosco (Qidong) Shipyard Co, a subsidiary of Cosco Corp's 51 per cent subsidiary Cosco Shipyard Group Co, has entered into an agreement with a European buyer for the construction of the floating storage regasification unit (FSRU) module. Cosco Corp did not identify the European buyer…
Dubai-based shipping company Gulf Navigation Holding has reported a 39% growth in net profit at the end of the first quarter of 2017 compared to the same period in 2016. The result came at a stage while the company is witnessing a significant improvement in its performance…
The UK Chamber of Shipping has contacted over 800 parliamentary candidates from around the country, asking them to back its campaign for enhanced support for maritime training. The proposal, called SMarT Plus, would see a doubling in government support to GBP 30 million a year…
The Brazilian unit of Archer Daniels Midland Co on Friday said it had completed a 33 percent expansion in its Santos port terminal's export capacity to 8 million tonnes of grains per year. The company invested 280 million reais ($85.19 million) in the project…
Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump. The…
A dozen ships from the Swiss high seas fleet are being sold off as the global shipping crisis takes its toll on the quirky remnant of landlocked Switzerland's efforts to ensure supplies of essential goods at times of international unrest. Worried…
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters.The deal to create the world's fifth-biggest shipping company…
The Daniel K. Inouye Institute honored U.S. Senator Jack Reed of Rhode Island on Wednesday, May 17 for his long-standing support of the American maritime industry. Joined by dozens of maritime and Senate leaders, Sen. Reed received the Daniel K…