The largest global container firm Maersk Line has launched a new weekly service between Santa Marta and Turbo in Colombia and Northern Europe specifically designed for refrigerated cargo. Danish container shipping giant added this new service…
Japan's Nippon Yusen Kaisha (NYK) has posted a $277.5mln extraordinary loss in the third quarter of year ended 31 March 2016 as it reduced the book value of its fleet inline with current market prices and expectations. The extraordinary loss…
Greek dry bulk shipping company Diana Shipping has entered into a time charter agreement with Geneva-based SwissMarine Services S.A. for its Capesize dry bulker the m/v Houston. The gross charter rate is US$5,150 per day, minus a 5% commission paid to third parties…
In the first half of this year, JSC “Latvijas kugnieciba” subsidiary “LSC Shipmanagement” Ltd (LSCSM) will add three newly built oil and chemical tankers under technical management. The first of the three ships was delivered on January 11 – the 183 meters long tanker “Elandra Spruce”…
New York and New Jersey's cargo terminals shut down on Friday after more than a thousand longshoremen walked off the job, shuttering one of the country's busiest port networks. The employees stopped working around 11 a.m. (1600 GMT). It was not immediately clear what had prompted the walkout…
A general strike in Greece has been extended by another 48 hours and is affecting the routes of domestic and local ferries and commercial vessels calling at Piraeus, Aspropyrgos, Eleusis, Pachi and Megara ports for cargo discharging, announced Inchcape Shipping Services (ISS)…
Swiss Mediterranean Shipping Co. (MSC) has finalized the acquisition of CP Carga, the freight and logistics unit of Portugal’s state-owned railway. MSC Rail, railway company of MSC, has completed the acquisition of the CP Carga - Logística e Transportes Ferroviários de Mercadorias SA…
After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus, in a bid to extend its reach in the Mediterranean Sea. A total…
Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said. The judicial manager appointed to oversee the bankruptcy of Mercator…
In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines…
2016 marks the 100th anniversary of the Port of Beaumont, a major deepwater port in Southeast Texas. A series of celebrations and public events began October 20th, when the Greater Beaumont Chamber of Commerce presented the port with its Spindletop Award for outstanding corporate citizenship…
Navios Maritime Midstream Partners LP (NAP) on Wednesday reported fourth-quarter profit of $9.1 million. On a per-share basis, the company said it had profit of 44 cents. The operator of contracted crude oil tankers posted revenue of $25…
Norfolk Southern Railway has announced disappointing financial results, and a cost-cutting plan that could eliminate two thousand jobs over the next four years. Norfolk has assured shareholders that despite weak carload volume and tumbling…
Chris Fisher, Port Director & CEO of the Port of Beaumont, announced that John Roby, Director of Corporate Affairs, plans to retire in early February 2016.Roby, 61, joined the port in 1979 after working in the media and advertising in Southeast Texas…
Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 2,158,254 tons in January, a decrease of 22 percent compared to a year ago. Loadings at U.S. ports were down 21 percent. Shipments from Canadian ports in the Seaway dipped 31 percent.