Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust. 'The Trustee-Manager wishes to announce…
Clarkson Research Services says market conditions across most sectors of the shipping industry have been highly challenging in 2016. The ClarkSea Index, which illustrates the fortunes of earnings for the major commercial ship types makes fairly clear the fate of the volume shipping sectors…
Korea's Incheon Port is rapidly emerging as a port for government stockpile imports due to a significant increase in imports of US edible soybeans. Incheon Port Authority (IPA) announced that the Korea Agro-Fisheries & Food Trade Corporation…
Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages…
While increasing the capacity of major ports, Ministry of Shipping has been striving to improve the operational efficiencies through mechanization and other measures. As a result key efficiency parameters have improved considerably. The…
Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel. However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable…
The chief executive officers of Islamic Republic of Iran Shipping Line (IRISL) and Kazakhstan’s KTZ Express – a subsidiary of the country’s national railways company- signed an agreement for establishing a joint company. The deal could…
Navig8 Group (Navig8), the world's largest provider of maritime services, has announced that it has been advised by Oman Shipping Company SAOC (OSC) that they have decided to internalize the commercial management of their VLCC fleet which had been hitherto in the VL8 pool…
The total length of waterways that can be exploited is 17,000 kilometers, of which 9,000 kilometers are capable of receiving vessels with tonnage of over 100 tons, VietNamNet Bridge reported. Vietnam still cannot take advantage of its 3…
Following the previous announcement that Jim Umpleby will become Caterpillar’s Chief Executive Officer on January 1, 2017, Caterpillar Inc. announced today additional changes in its executive ranks. The company’s Board of Directors has appointed…
The upcoming reorganization of global shipping alliances is likely to hit Korea’s largest port in Busan and the harbor volume of Busan Port is expected to drop by 3.5 percent from next year, the Korea Herald reported quoting Korea Maritime Institute (KMI)’s report…
The National Waterway Act, 2016 declaring 111 national waterways, including the 5 national waterways declared earlier has been enforced w.e.f. 12th April, 2016. The process for preparation of techno economic feasibility (TEF) study/Detailed…
Descartes Systems Group, a leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN), announced that it has acquired Datamyne, a provider of cloud-based trade data content solutions for customers to analyze import and export trade activity…
Hector Rail and Samskip have agreed to develop their partnership on Sweden and the continent further. As of the 1st of January six round trips per week between Helsingborg in Sweden and Duisburg in the Ruhr area in Germany, via Copenhagen in Denmark…
The Port of Long Beach’s Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal.The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co…