German shipping company Hapag-Lloyd is cutting costs to cope with a rise in fuel prices that led it to slash full year earnings forecasts last month, its chief executive told shareholders on Tuesday.'Major cost positions have risen more than initially expected and are pressuring operating margins…
The chief executive of German container shipping liner Hapag-Lloyd said he was not aware of major merger activities in the sector a day after a Reuters report said his company had been approached by French rival CMA CGM.'We do not see major takeovers in the industry…
'Empowering Women in the Maritime Community' has been selected as the World Maritime Day theme for 2019. This will provide an opportunity to raise awareness of the importance of gender equality, in line with the United Nations' Sustainable Development Goals (SDGs)…
BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc. The majority of the shares will be acquired through BTS, a collaboration between Blackstone-managed funds…
The construction of a 900-metre-deep deep-sea quay near the HoogTij business park along the North Sea Canal is set to begin this summer. HoogTij is divided into two parts: a site reserved for port-related companies (the maritime section)…
Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova (IEnova), has been awarded a 20-year contract by the Topolobampo Port Administration in Mexico to build and operate a receipt, storage and send-out liquid fuels marine terminal in the state of Sinaloa…
Scorpio Bulkers announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party. As part of the transaction, the Company will sell a 2015 Japanese built Ultramax dry bulk vessel…
At the stroke of midnight on January 1, 2018, the global shipping industry will be expected to comply with the IMO agreed upon 0.5% sulfur cap for bunker fuels with few waivers available.For vessels which have installed scrubbers, higher sulfur fuels may continue to be used…
The board of directors of Caterpillar Inc. has appointed Ogi Redzic as a vice president to lead the company’s Digital Enabled Solutions Division (DESD), effective July 30, 2018. He will be based in Caterpillar's Chicago office and report to Group President of Customer & Dealer Support Bob De Lange…
Crewing agency Boreas Maritime bv, headquartered in the Netherlands, said it has set up a new regional office in Singapore to provide services and support to clients based in the Asia Pacific region.Boreas Maritime Operations Director, Pascal Bounin…
Increasing consumer demand and rising retail sales are driving record imports at the United States’ major retail container ports this month despite new tariffs on goods from China, according to the monthly Global Port Tracker report from the National Retail Federation and Hackett Associates…
A rescue diver from China who made a series of underwater dives to rescue three people from a sunken cargo ship will receive the 2018 IMO Award for Exceptional Bravery At Sea.A Panel of Judges decided that the rescue merited the highest award…
Arthur “Art” Allen and Stuart Peerless have joined the Chembulk Southport and Singapore teams respectively in the positions of Senior Vice President of Trading – West and Senior Vice President of Trading - East. The two will be responsible for oversite of fleet allocation…
Libya's national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday.The NOC had not…
Indonesia's state owned energy holding company, Pertamina, has decided not to go ahead with what would have been the country's second land-based receiving terminal for liquefied natural gas (LNG), its chief executive said on Monday.Indonesia has forecast sharp increases in gas demand after 2020…