Further disruption in ocean freight rates expected despite best efforts from leading carriers, according to Xeneta Container Rates Alert.Long-term contracted ocean freight rates for carriers continued their downward trend through the month of October…
The American Association of Port Authorities (AAPA) is very concerned with the U.S. Senate’s approval of a fiscal 2020 appropriations bill that cuts funding by more than two-thirds to a U.S. Department of Transportation Maritime Administration…
Europe’s fastest growing port, the Port of Gdansk, has outlined huge expansion plans designed to double its cargo volumes to 100m tonnes a year, during a high-level maritime and business delegation from Poland to Singapore.The delegation marks…
Swedish manufacturer Saab has successfully put its PortControl Port Management Information System (PMIS) upgrade into operation at the Port of Pascagoula, on-time and within budget.According to a press release from the defense and security company…
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell to a near 4-month low on Friday as rates fell across vessel segments.The Baltic index, which reflects rates for capesize, panamax and supramax vessels…
On October 31st, 2019, George A. (Sandy) Thomson, the founder of Thordon Bearings and a pioneer in the development of advanced polymer materials, was presented with the 2019 Elmer A. Sperry Award in recognition of “leading the innovation in…
Despina Panayiotou Theodosiou, co-CEO of Tototheo Maritime, has been re-elected as WISTA International President during the association’s 39th Annual General Meeting, held in the Cayman Islands on October 30, 2019.“As 2019 draws to a close,…
Cargo shippers are diverting goods to more ports across Britain to ensure stable supply lines due to uncertainty over whether the UK will leave the European Union without an agreement, a top port executive said.Brexit has been delayed for a third time…
The initial 'phase one' trade pact with China appears to be in good shape and is likely to be signed around mid-November, although a finite date is still in question, U.S. Commerce Secretary Wilbur Ross said on Friday.'We're pretty comfortable that the phase one is in good shape…
Executives at some of the world's top shipping groups are advocating a levy on carbon emissions on shipping in an effort to shape tightening rules on greenhouse gas emissions while providing a means to fund development of cleaner fuel sources…
Tidewater, which owns and operates the largest fleet of offshore support vessels in the industry, announced that Larry T. Rigdon has been elected Chairman of the Board effective October 28th.Rigdon replaces Dr. Thomas R. Bates, Jr., who has recently resigned from the board…
Norwegian investment company Hunter Group said that its wholly owned subsidiary Hunter Tankers has taken delivery of its third newly built very large crude carrier (VLCC) and subsequently delivered it to its new owner.The new VLCC with hull number 5457…
Greece-based shipping company Okeanis Eco Tankers (OET) said it has secured funding to finance the pre-delivery of two new ECO scrubber-fitted Suezmax tankers.The Greek tanker owner and operator said that it has secured commitment to a USD 45…
Capital Product Partners (CPLP), a Greek shipping company engaged in the seaborne transportation of a wide range of cargoes, including dry cargo and containerized goods, said that it is planning to install exhaust gas cleaning systems (scrubber) in six more vessels…
The International Renewable Energy Agency (IRENA) highlighted the importance of reducing shipping emissions and following the path towards a carbon-zero industry, in line with International Maritime Organization (IMO)’s sustainability targets…