India's Minister of Shipping Nitin Gadkari has said that projects worth Rs. 1 Lakh Crore (USD 15 Bln) under Sagarmala programme are at various stages of implementation and development. He was speaking to the press at a ceremony to inaugurate…
The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea. It appears that the strategy of Maersk Line, the world’s largest…
Incheon Port's annual container volume surpassed 2.5 million TEUs as of December 16, the largest-ever volume in the history of Incheon Port, in 11 years since hitting 1 million TEUs in 2005 and in three years since reaching two million TEUs in 2013…
Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust. 'The Trustee-Manager wishes to announce…
Clarkson Research Services says market conditions across most sectors of the shipping industry have been highly challenging in 2016. The ClarkSea Index, which illustrates the fortunes of earnings for the major commercial ship types makes fairly clear the fate of the volume shipping sectors…
Korea's Incheon Port is rapidly emerging as a port for government stockpile imports due to a significant increase in imports of US edible soybeans. Incheon Port Authority (IPA) announced that the Korea Agro-Fisheries & Food Trade Corporation…
Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages…
While increasing the capacity of major ports, Ministry of Shipping has been striving to improve the operational efficiencies through mechanization and other measures. As a result key efficiency parameters have improved considerably. The…
Descartes Systems Group, a leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN), announced that it has acquired Datamyne, a provider of cloud-based trade data content solutions for customers to analyze import and export trade activity…
The Port of Long Beach’s Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal.The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co…
Hill Dickinson said it successfully defended its client, Bourne Leisure, in a 219-claimant class action involving a Norovirus outbreak which occurred at a Butlin’s site in 2011.More tthan 4,000 guests and an additional 1,200 team members…
Matson, Inc. ('Matson') announced the issuance of $75 million in privately placed 11-year final maturity senior unsecured notes (the 'Notes') pursuant to a previously announced commitment letter dated October 27, 2016. The Notes will have…
While container trade growth has slowed in recent years, box trade has still expanded significantly since the turn of the milliennium, according to Clarkson Research Services Limited. In 2016, box trade is projected to total 181m TEU, almost three times volumes in 2000…
The Long Beach Board of Harbor Commissioners will consider a proposal by a terminal investor to take over a majority stake in a long-term lease to operate the largest container terminal in the Port of Long Beach. If approved, the pact could…
A new niche bank for the shipping and offshore sector opened its doors for business on December 20, 2016. Serving the global maritime markets from its main office in Oslo, Maritime & Merchant Bank ASA (M&M) will provide secured lending in the form of first priority terms loans…