The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight session on Thursday, pressured by lower panamax vessel rates.The overall index, which factors in rates for capesize…
European Commission has exempted public support measures in a number of areas from prior Commission state aid control, said a press statement. This facilitates public investments in key infrastructure, namely ports and existing airports…
Golden Ocean Group (GOGL) said it has taken delivery of additional two vessels, Q Myrtalia and Q Shea, from Quintana Shipping in exchange for 1.95 million consideration shares. A statement from the company said: 'Reference is made to the stock exchange notice dated March 14…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell 2 percent on Monday as lower demand for iron ore fixtures hit capesize rates.The overall index, which factors in rates for capesize…
Korea's battered Daewoo Shipbuilding & Marine Engineering (DSME) is all set to receive a new bailout package worth $6 billion, after court rejected appeal from a group of individual investors. According to Pulse news, government-led bailout…
In the medium term, demand for container shipping services should continue to rise in tandem with expected ongoing growth in global trading volume, says Hapag-Lloyd. As a result, the container shipping industry’s medium-term growth prospects remain intact…
The outlook for the 2017 financial year is based on the Hapag-Lloyd Group’s existing business activities as at 31 December 2016 and therefore does not include UASC’s business activities or the acquisition of UASC in 2016. A statement from…
Greece-based Tsakos Energy Navigation (TEN) said that its 15-vessel newbuilding program is nearing completion with the final three aframax tankers expected to be delivered in the coming months. In the second half of the year, with all…
Tradepoint Atlantic, a 3,100-acre multimodal global logistics center in Baltimore that features a combination of access to deepwater berths, railroads, highways and storage space, has issued a statement in connection with the Maryland PSC’s…
An Indonesian labour union has scrapped a planned strike at Jakarta's Tanjung Priok port next week, ensuring operations would run normally at the country's busiest port, union officials said on Friday. Nova Sofyan Hakim, the chairman of…
Delivery of First Vessel Planned for Early 2020. Honolulu-based Pasha Hawaii today announced that the company has selected Keppel AmFELS in Brownsville, TX, a subsidiary of Keppel Offshore & Marine (Keppel O&M) for the construction of two new Liquefied Natural Gas (LNG) fueled containerships…
Fitch Ratings has affirmed the 'A' rating on Broward County's Port Everglades' outstanding $167 million port facilities senior revenue and refunding bonds, and has revised the Rating Outlook from Stable to Positive. Fitch reported: 'The…
Greece-based DryShips, a diversified owner of ocean going cargo vessels, entered into an agreement with an entity affiliated with the Company’s Chairman and CEO, George Economou, to acquire one 158,000 deadweight tons Suezmax tanker currently under construction in China…
Abu Dhabi Ports the master developer, operator and manager of commercial and community ports in UAE, as well as Khalifa Industrial Zone, in conjunction with Abu Dhabi and the Korean Chambers of Commerce and Industry, have hosted an investment forum for the Korean market…
Navios Maritime Partners, an international owner and operator of dry bulk and container vessels, announced on May 9 that it has agreed to acquire one 2011 South Korean-built Capesize vessel of 179,016 dwt for a purchase price of $31.05 million…