Star Bulk Carriers, a global shipping company providing transportation solutions in the dry bulk sector, has reached agreements to sell four modern vessels, two capesize and two kamsarmax vessels. The vessels were sold for an aggregate…
Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers…
Singapore sovereign wealth fund Temasek Holdings has agreed to sell its entire 67 percent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper. CMA CGM will pay S$1.30 a share in cash for the 2…
The board members of China Merchants Energy Shipping (CMES) has approved of a plan to order an additional 10 eco-friendly VLCCs. These vessels will be operated by CMES’ Hong Kong-based subsidiary, China VLCC Company Limited, a tanker JV between CMES and Sinotrans & CSC Group…
Moody's Investors Service has today changed to stable from positive the outlook on CMA CGM S.A.'s B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured rating. Concurrently, Moody's has affirmed the ratings assigned to the company…
Drop in commodity prices has slashed global demand for bulk carriers, pushing shipyards out of business, says Chinese news agency Caixin. Huai Jinpeng, a vice minister from the Ministry of Industry and Information Technology, which oversees…
The ABYC Foundation is partnering with BRP Evinrude in a December donation campaign to fund two outboard engines to marine technology classrooms. The ABYC Foundation is seeking donations to reach $7,000 per outboard to ensure delivery to schools…
French container shipping giant CMA CGM is to buy Singapore's Neptune Orient Lines for $2.4 billion, making its biggest-ever acquisition to help it to ride out a severe market downturn. The takeover, which the companies expect to proceed in mid-2016 following anti-trust approvals…
The report 'Employment and production in Blue Denmark 2015' was published today, providing updated information on Denmark’s vibrant maritime industries. For the second time, the Economic Council of the Labour Movement has drawn up a report…
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra…
Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
President Obama is today, expected to sign a five-year, $305 billion transportation reauthorization bill that Congress overwhelmingly passed yesterday which includes $11 billion in new freight funding grants and programs and other top priorities among America’s seaports…
Peel Ports announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign.Launched in May, Peel Ports called for importers and exporters whose…
South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, Yonhap reports. Meanwhile, Chinese rivals scooped up a large slice of contracts, according to the data compiled by global researcher Clarkson Research Services…
The Economou family's TMS Cardiff Gas Ltd. has exercised options on its contracts with Hyundai Heavy Industries of Korea for the construction of an additional two 78,700 cbm LPG carriers. Both vessels are scheduled for delivery in Q4 2017…