Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain…
Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook. Maersk also said it expected a $200 million…
Ocean carrier Pacific International Lines (PIL), terminal operator PSA International and IBM plan to utilize blockchain for better security, efficiency and transparency in supply chain business networks and trade finance. Three companies…
Iraq's parliament on Tuesday questioned acting Trade Minister Salman al-Jumali over corruption allegations linked to the ministry, mostly stemming from a deal to import Indian rice in 2016. The minister, a Sunni Muslim in a government dominated by Shi'ites…
Iron ore, dry bulk cargo and general cargo shipments remain strong on the St. Lawrence Seaway, with overall tonnage up 18 percent over last year. The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20…
Russia was now pitching itself as an important transporter of European gas to Asia, reports Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels. The Russian supertanker Christophe de Margerie is en route to South Korea…
The Ghana Ports and Harbours Authority (GPHA) has offered a concession to IBISTEK Limited, a Ghanaian firm towards the development and operations of a container and multi-purpose terminal at the Port of Takoradi. This is part of the Port…
Gulftainer, the largest privately owned independent port operator, has marked the maiden call of the CMA CGM Virginia vessel with a capacity of 5,095 twenty-foot equivalent units (TEU) at its flagship Khorfakkan Container Terminal (KCT). The vessel call was completed in a record 5…
Given the weak freight rate outlook for LPG shipping over the next twelve months, Drewry believes there is more downside risk to the second-hand values of very large gas carriers (VLGCs), according to the latest edition of the LPG Forecaster…
South Carolina Ports Authority (SCPA) announced calendar year-to-date container volume increases of 13 percent and the strongest July on record. Since the calendar year began, SCPA has handled 1.3 million twenty-foot equivalent units (TEU)…
Todd Busch, Sr. Vice President & General Manager, Technical Services, at Crowley Maritime, has joined Sea Machines Robotics’ board of directors. The Boston-based Sea Machines is building autonomous control technology for commercial vessels…
INTTRA, the ocean container shipping industry electronic transaction platform and information provider, and container shipping provider SM Line announced an agreement that will expand INTTRA's reach in Korea and globally, while offering SM Line an advanced network to create value for its customers…
July’s surging cargo volumes set a record for the Port of Long Beach’s best month its 106-year history, surpassing the previous high mark set in August 2015 for the number of containers moved across its docks.With total volume of 720,312 twenty-foot-equivalent units (TEUs) in July…
U.S grant funds will support $19.7 million expansion of port's multimodal infrastructure The U.S. Department of Transportation (DOT) has recommended to Congress that the Port of Indiana-Burns Harbor receive one of 10 FASTLANE small project grants for 2017…
“We know that natural gas is one of the cleanest, most environmentally-friendly fuels available today,” said Capt. John Murray, CEO at Port Canaveral, who recently hosted a briefing on the use of liquefied natural gas (LNG) as a maritime transportation fuel…