MacGregor develops operations in China and strengthens its organisation by appointing Zhengyu Li (Frank) as Vice President, Head of China as of 1 October 2015. Mr Li drives the development of MacGregor business in the most important market in the marine industry…
Cheniere Energy agrees to send 24 cargoes of liquefied natural gas (LNG), or 89T BTUs, from its Sabine Pass Terminal in Louisiana in 2017 and 2018 to French state-controlled power utility Electricite de France (EDF), its second deal in two…
NYK Ports LLC announced that Brian Johnson will be joining the company as Director of Business Development, effective September 21, 2015.Johnson began his career as Environmental Coordinator for Metropolitan Stevedoring Company in 1998.…
Norwegian oil and gas firm Statoil plans to have 20 percent fewer employees by end-2016 compared to the beginning of 2015, its chief executive said on Monday.'Suppliers have to take their responsibility to cut costs. We are also taking our part in the restructuring…
China made its pitch to ASEAN members to promote its Maritime Silk Road plans. China has said it will finish negotiations on upgrading the China-ASEAN Free Trade Area called CAFTA by the end of this year, said Vice-Premier Zhang Gaoli. He…
China’s COSCO Guangdong Shipyard today launched Greyman Express, the sixth newbuilding livestock carrier to be constructed for Dutch company Vroon at this yard. Four newbuilding livestock carriers have already been delivered to Vroon and have entered service…
The low demand on the high volume trade lanes is surely increasing the pressure on earnings which is already felt in the container shipping industry. This was one of the views that, BIMCO’s Chief Shipping Analyst, Peter Sand shared with…
A total 336 ships transited the canal last week, carrying a total cargo of 19.5m tonnes, reports Daily News Egypt quoting new data from the Suez Canal. The average number of ships transiting the canal daily reached 48 throughout last week…
The deep-river port complex in the southern province of Ba Ria-Vung Tau is still struggling to reach its designed capacity, says local media reports. The seven deep-water seaports have been built by the Cai Mep – Thi Vai Port Group in the…
The Australian Competition and Consumer Commission (ACCC) has raised concerns that Royal Dutch Shell's proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia and delayed a final decision on the bid to November…
All stocks under Drewry Maritime Equity Research (DMER)’s dry bulk coverage were down and recorded double-digit negative returns, taking cues from vessel earnings. The BDI shed its gain of the previous two months and nudged down 20% m/m in August led by a fall in the Capesize index…
For the 6th consecutive year, the Maritime and logistics awards (MALA) ceremony took place on 4th September at the Leela Hotels, Andheri east, Mumbai. The awards, which were started in 2009 by the Nikhil Modi’s Exim team, are the most prestigious awards for the shipping fraternity in India…
Dry-bulk shipper Global Maritime Investments Cyprus Ltd. filed for chapter 11 bankruptcy protection New York Tuesday in order to liquidate its business due to a continued industry downturn, reports WSJ. The bankruptcy filing of the international shipping company came in New York…
Seaspan Corporation has lined-up a $1bn worth of export credit facilities with the Export-Import Bank of China (CEXIM). Seaspan has signed a Framework Cooperation Agreement with the Export-Import Bank of China (CEXIM) for a total of up to $1 billion in export credit facilities…
China Merchants Holdings (International) Co. Ltd. along with Cosco Pacific Ltd., a unit of China Investment Corp. and Euro-Asia Oceangate will pay US$919.9 million to buy a 64.5% stake in Fina Liman from Fina Holding. Fina Liman is an…