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…
On the heels of announcing its five-year growth, investment and cargo base expansion plans at the State of the Port, South Carolina Ports Authority (SCPA) reported a four percent increase in August container volumes over the same month last year…
Ten new medium range product tankers will join the fleet of state-owned Oman Shipping Company (OSC) in the next one year, taking the total strength of the fleet to 53 from 43 now, reports Times of Oman. According to the chief executive officer of Oman Shipping Company Tarik Mohammed Al Junaidi…
A China Ocean Shipping Company COSCO-China Shipping Container Lines (CSCL)merger makes financial sense, but would have huge implications for competition in the container shipping industry, according to Drewry Maritime Research. Drewry Shipping…
With China’s COSCO confirming its $1.5-billion order of 11 new 19,000 TEU ships for delivery in 2018, the “arms race” for Ultra Large Container Vessels (ULCV) of over 18,000 TEU continues but carriers are having to be more creative when deciding where to deploy smaller deliveries…
Vessel operators can now be allowed to bring foreign flagged vessels on the coastal routes as the Indian Government has decided to relax cabotage for special vessels. Special vessels like Roll-On Roll-Off (Ro-Ro), Hybrid Roll-On Roll-Off (Hybrid Ro-Ro)…
The dredging project in the Savannah Harbor began on Monday. The Army Corps of Engineers, the federal agency overseeing the harbor expansion, says that the project started on Tybee Island as crews on a 220-foot dredging barge worked about 5 miles offshore…
The government of Cyprus will support and bolster growth of the country’s maritime sector, Marios Demetriades, minister of transport, communications and works, said, reports In-Cyprus. “I would like to assure you that the Cyprus government…
Press release - The security situation in the Indian Ocean could very quickly change for the worse, says maritime security company MAST. Gerry Northwood OBE, COO of MAST, said: “For commercial shipping, the Indian Ocean is arguably the safest ocean on the planet…
SDV Logistique Internationale recently signed a preliminary agreement for the construction of a warehouse on the Parc Logistique du Pont de Normandie 2 (PLPN2) platform at the Port of Le Havre. This project is divided into two successive…
Press release - Members of the G6 Alliance has announced additional void sailings within their Asia-Europe product in response to changes in market demand. As the G6 Alliance continues to review its product profile, the following void sailings…
The Evergreen Group, Taiwan's largest container shipper, has signed an agreement with Japan's Imabari Shipbuilding Co. to build 10 new container vessels with a capacity of 2,800 20-foot equivalent units (TEU) to expand its fleet. The new…
DP World, together with joint-venture partners APL, HMM, MOL and CMA-CGM, has officially opened the Rotterdam World Gateway (RWG) terminal, providing the global supply chain with the most innovative and automated container terminal in the world…