In a container freight market challenged by volatility and facing the prospect of further consolidation, member shipping lines in the Transpacific Stabilization Agreement (TSA) have announced a phased increase in rates and a package of 2016…
Singapore-based Pioneer Marine reported a $5.4m loss for the third quarter of 2015, about even with a $5m loss in the same quarter last year. It canceled orders for three new ships as the bulk-ship operator coped with a steep decline in demand for commodities in China…
Press release - Global marine terminals operator DP World’s flagship Jebel Ali Port has received the world’s largest container vessel, the Magleby Maersk, which is on its maiden visit to the region. The management and operations team at Jebel Ali rolled out a well-drilled operation to welcome…
Coastal vessel operators trying to come to terms with upgraded US Coast Guard regulations for survival craft have been helped along the way by VIKING at the annual Passenger Vessel Association and U.S. Coast Guard Industry Day in Miami. Marine…
France’s CMA CGM SA is in exclusive talks to buy Singapore’s Neptune Orient Lines Ltd (NOL), the shipping company and its Singapore’s Temasek Holdings Ltd., its largest shareholder, said. The deal would bring together the world’s third…
The Świnoujscie LNG terminal in northern Poland is ready to receive its first shipment of gas, with a tanker leaving Qatar on its way to Poland. The tanker carrying LNG left Qatar-based Ras Laffan port on last Friday and is heading to the LNG terminal…
MacGregor, part of Cargotec, creates a new division 'Advanced Offshore Solutions' by merging its two Norway-based divisions and combining the strengths in offshore mooring, loading and load handling businesses. With the new joint division…
The Chartered Institute of Logistics & Transport (CILT) has named GAC Sri Lanka Managing Director, Mahesh Kurukulasuriya its Young Manager of the Year. He was presented with the award by the institute’s Patron, HRH The Princess Royal at a ceremony…
China's National Development and Reform Commission (NDRC) is visiting several major container shipping lines’ offices in Shanghai and throughout the country as part of its surcharges investigation. According to local media reports, NDRC…
The merger deal of China’s two shipping gianst China Ocean Shipping Co., or Cosco, and China Shipping Group that could create the world’s fourth largest container operator is expected to get approval by Chinese government by January, reports WSJ…
Stowaways onboard ships can often be a cause of significant costs for shipowners. Amanda Hastings, UK P&I Club Claims Executive, reviews shipowners’ liabilities and advises on the relevant actions to take to reduce incidents of stowaways…
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts…
The Bureau International des Containers (BIC) has announced Stephen L. Caldwell of the United States as the winner of the 2015 BIC Award, in recognition of more than 30 years’ dedication to improving international security, including more than…
The cost of operating cargo ships is forecast to rise over the next two years after falling in 2015, according to the latest Ship Operating Costs Annual Review and Forecast 2015/16 report published by global shipping consultancy Drewry. The…
A five point plan to help tackle Africa’s infrastructure gap is among the findings of a new DP World report to be unveiled at the Africa Global Business Forum this week. Public private partnerships, domestic bond financing, monitoring…