Cash-strapped South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC) has signed a memorandum of understanding (MOU) with its creditors to receive a KRW 120bn ($103m) cash injection, and will sell off property and businesses worth KRW 2tr ($1…
French container shipping giant CMA CGM now owns 10.07% of its takeover target Singapore's Neptune Orient Lines (NOL) as open share buys continue on a near daily basis. The European Commission has approved CMA CGM's $3.38 billion acquisition of NOL…
China’s Cosco Pacific Ltd. will buy 35 percent of Euromax Terminal Rotterdam BV for 125.4 million euros ($143 million) for shares and loans amid an overseas expansion drive by Chinese companies.Euromax is indirectly owned by Hutchison Port Holdings Ltd…
International container carrier focused on trade to and from Africa, West and Central Asia, Safmarine will move its head office to Cape Town, South Africa, thereby returning to its roots. Safmarine was acquired by Maersk Line in 1999. Since 2012…
Flag state and port state roles in ratifying, implementing and enforcing the convention prohibiting the use of harmful antifouling systems on ships (AFS Convention) are on the agenda at a regional workshop held in Jeddah, Saudi Arabia, May 10-11…
Wisconsin’s H.O. Bostrom Company, Inc. is one of three statewide recipients of the 2016 Governor’s Export Achievement Award, which recognizes their success in global business development. The awards honor businesses that have achieved significant…
Henrique M. Gaspar has been announced as the winner of the DNV GL COMPIT Award 2016. The Brazilian CAD (computational aided design) expert, working at NTNU Ålesund, was honored for his work on merging innovative digital technologies in ship design and operation at the COMPIT Conference…
Direct ChassisLink, Inc. (DCLI) announced that Debbie Cohen has joined the company as Vice President of Sales - Steamship Lines, reporting to CMO Jeremy Haycock. As Vice President, Sales – Steamship Lines, Cohen will head up the Steamship Line Vertical…
Carnival Corporation & plc announced today that its Arison Maritime Center in the Netherlands will honor the legacy of the Arison family who founded and grew the company into the world’s largest cruise line operation. The company also announced…
The pressure on the industry is tremendous. On the one hand, the tough situation in the market forces shipping companies to keep the prices for their services at competitive levels, which mainly means they have to increase efficiency and reduce fuel consumption…
Last week, 24 midshipmen received commissions to become ensigns in the U.S. Navy at SUNY Maritime College. More than half of the students were selected for duty as strategic sealift officers, who provide logistical and other forms of support in times of military deployment…
Marine and offshore specialists, The Clyde Group announced that construction work has begun on its $5 million training center in Clydebank, Greater Glasgow, for the newly established Clyde Training Solutions. The facility is the first of…
Aiming to leverage the increased connectivity of the shipping industry, ABB has opened a second Integrated Operations Center in Helsinki, following the launch of similar facility in Billingstad, Norway in late 2015. The facility in Helsinki will serve the passenger…
Container and bulk shipping company Universal Marine and MirTac, a provider of fleet management solutions, have implemented Star Fleet Management software onboard the new bulk carriers mv Pride and mv Star II.Recently, a joint venture between…
BIMCO’s Documentary Committee, who met in Copenhagen yesterday, have agreed that all new and revised BIMCO charter parties and bills of lading will now refer to general average being adjusted in accordance with the new York-Antwerp Rules (YAR) 2016…