Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
The Antigua-Barbuda-flagged EMS Majestic began to sink with seven crew on board in the English Channel when it was being towed to safety. The UK Coastguard received a Mayday call at 7.09pm on Sunday from a cargo vessel which was taking in water in the Dover Strait…
President Obama is today, expected to sign a five-year, $305 billion transportation reauthorization bill that Congress overwhelmingly passed yesterday which includes $11 billion in new freight funding grants and programs and other top priorities among America’s seaports…
Jasper Wiese, an apprentice with Hapag-Lloyd, is a huge fan of seafaring and everything having to do with mechanics. But what exactly does a budding ship mechanic learn? Even during his fifth week of training to become a ship mechanic, Jasper Wiese still couldn’t believe it…
Peel Ports announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign.Launched in May, Peel Ports called for importers and exporters whose…
The cost of shipping crude surged to all destinations, amid speculation that bookings are increasing to load crude. According to a report in Bloomberg, the oil tanker rates soared to the highest in seven years amid an acceleration in the…
The Economou family's TMS Cardiff Gas Ltd. has exercised options on its contracts with Hyundai Heavy Industries of Korea for the construction of an additional two 78,700 cbm LPG carriers. Both vessels are scheduled for delivery in Q4 2017…
CMA CGM has secured the necessary financial backing to proceed with an acquisition of Singapore's Neptune Orient Lines (NOL), Reuters reports, citing two people said to be familiar with the matter. The French shipping giant is reported to have received “firm commitment” from lenders HSBC…
Maersk Line has announced a new direct service with short transit time from West Coast South America to Japan for dry and reefer cargo. In our continuous efforts to provide our customers with a competitive and fast connection from West Coast South America to Japan…
Four years after launching a dedicated service into Papua New Guinea, Maersk Line is one of the key carriers in this fast growing Pacific country, claims Social Media Community of Maersk Line. Papua New Guinea occupies the eastern half…
A consortium composed of Teekay LNG Partners L.P., Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain…
The gloomy outlook for the dry bulk shipping market continues to afflict shipowners and the market is not expected to return to profitability before 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry…
The IMO has just closed its Assembly meeting in London, which is held every second year. A number of important items were on the agenda, including the IMO work programme and budget for the 2016-17 biennium as well as the Organization's work…
Press release - Ecoslops, the first company to develop technology to produce recycled marine fuels from marine oil residues (‘slops’), has announced that it has sold its first volume of marine fuel, as well as importing a new shipment of slops to its refinery at the Port of Sinès in Portugal…
Inchcape Shipping Services (ISS) is advising of a further 24 hour general strike in Greece on December 3 which is expected to affect vessel movements at many Greek ports and terminals.The public and private sector strike action is scheduled…