Ecuador's new government on Wednesday said it would keep a promise to eliminate surcharges in June that had been applied to a third of all imports, a move likely to increase imports and consumption but hurt the balance sheet. Former president Rafael Correa imposed the surcharges…
German shipping group Rickmers said it would file for insolvency after bondholder HSH Nordbank rejected its restructuring plan a day ahead of a last-ditch bondholders' meeting. Rickmers had proposed a revamp plan under which the equity stake of owner Bertram Rickmers was to be reduced to 24…
Norsepower Oy Ltd., a leading provider of low-maintenance, software operated, and data verified auxiliary wind propulsion systems, has announced that its CEO Tuomas Riski is this year’s recipient of the ‘Young Entrepreneur Award’. The accolade was presented to Tuomas yesterday…
Inmarsat has reached an agreement with Wallem Group, one of the largest and ship management companies in the industry, establishing the phase-in of Fleet Xpress as its favored connectivity choice for ships at sea. Already contracted for over 10…
Using the same approved electrochlorination technology, Evoqua Water Technologies has remodeled its SeaCURE ballast water management system to provide optimum high flow rate performance from what is now one of the smallest electrochlorination system on the market…
Rolls-Royce has launched the next generation of its Energy Management (EM) System. The system will allow customers to reduce energy usage, fuel consumption and operating costs whilst supporting environmental compliance and providing performance…
Design, engineering and risk management consultancy BMT Group Ltd informs that Richard Adam has joined its board as a nonexecutive director. Qualifying as a chartered accountant in 1982, Adam has a wealth of financial acumen, M&A and international business experience…
German shipping company Hapag-Lloyd confirmed on Wednesday that it is looking to cut up to 12 percent of its almost 11,000 land-based workforce after completing its merger with Arab peer UASC last week. A spokesman at Hapag-Lloyd's Hamburg…
Japan's Tsuneishi Holdings Corporation said that its shipbuilding business output was nearly flat with the construction of 45 ships in the fiscal year ending December 2016. However, ship orders declined markedly due to the impact of last…
Dutch banks ABN AMRO, ING Bank and NIBC, together with the Scandinavian DNB, announced that they are all introducing Responsible Ship Recycling Standards (RSRS) for their ship financing. The banks took the opportunity of making this announcement…
To boost port infrastructure, Indian Shipping Minister Nitin Gadkari laid foundation stone of eight connectivity projects worth Rs 1,117.03 crore (USD 173 mln ) at Jawaharlal Nehru Port Trust (JNPT), Mumbai. The projects include integrated common rail yard facility at JNPT…
DNV GL revealed that more than 1,400 vessels have already signed up to its innovative fleet performance management solution ECO Insight. On the market for just over two years, ECO Insight has rapidly become the leading maritime performance management solution…
The plan to position Durban as a world-class cruise capital took a step forward with the announcement of the preferred bidder for the Durban Cruise Terminal – KwaZulu Cruise Terminal Pty Ltd (KCT) – a Joint Venture between MSC Cruises SA (a…
exactEarth Ltd , provider of Satellite AIS data services announces the launch of exactView RT powered by Harris (exactView RT) – the world’s first global, persistent real-time Satellite AIS service. This capability is expected to enable a wide…
Nisomar, the data-driven maritime services company, is advising that the National Association of Customs Officers of Chile (ANFACH) concluded its strike on Monday 29 May. All Chilean ports, airports and borders in the country have now returned to normal operations…