Diana Shipping Inc, a global provider of shipping transportation services through its ownership of dry bulk vessels, has chartered out one of its panamax bulkers - Artemis (76,942 dwt, built 2006) - to China Shipping Bulk Carrier. The gross charter rate is US$7…
The government of Kerala State in India and Gujarat-based Adani Group has signed the work contract agreement for development of the Rs 7,525-crore ($12 billion) Vizhinjam International Deepwater Multipurpose Seaport. On July 15, 2105,…
Industry analyst Drewry believes that the proosed merger between Chinese state-owned companies, Cosco and China Shipping Container Lines (CSCL), could cause a domino effect on existing carrier alliances and further carrier mergers in Asia damaging to industry competition…
Trelleborg’s marine systems operation has launched two new webinars discussing the current state of the port environment, and the opportunities arising for facilities looking to take steps toward more strategic investment and supplier support…
The depreciation of the Chinese currency will help both international and domestic shipping operators in the region that have been stuggling of late with growing costs and rising competition, says Maersk. Xinhua quoted Tim Smith, chairman…
Sinotrans Shipping slid back into the red for the first half of 2015, turning to a $18.3m loss from a small $2.3m profit in the previous corresponding period. The dry bulk and container shipping arm of Chinese state-owned Sinotrans & CSC Group continues to feel the pain of low rates…
Rescue crews have found 114 bodies, with 95 people still missing, 85 of whom are firefighters, after two huge explosions China’s Port of Tianjin where dangerous chemicals and goods are stored late Wednesday night, Xinhua news agency reports…
Hamad Port welcomed its second commercial carrying the second shipment of cranes which includes four Ship to Shore (STS) Cranes and six Rubber Tyred Gantry (RTG) Cranes, says a report in the Gulf Times. This, along with other key developments…
Northern Fleet divers salvage weapons and equipment from the American ship “Thomas Donaldson”, which sank after a German submarine attack outside Murmansk in 1945.Divers from the Northern Fleet’s search and rescue department in 2014 started…
BP's book leader for Asia crude trading, Chu Said Thong, will retire from the company in the fourth quarter, two traders with knowledge of the matter said on Friday.Chu, who worked at BP during most of his career, is well-known for playing a key role in the Asia-Pacific crude market…
The Port of Long Beach’s Security Division has been awarded $3.4 million in Federal Emergency Management Agency (FEMA) grants to fund ongoing projects that protect the port.The grants will enhance port security systems such as physical security equipment and monitoring and detection systems…
Though the Danish conglomerate AP Møller-Maersk posted higher-than-expected earnings, it has cut its forecast for global trade growth and abandoned several medium-term profit forecasts, as per a report in FT. Maersk overcame low oil prices…
The Port of Virginia handled 226,000 TEUs in July, the highest amount ever recorded for that monthly period in the port''s history. The Virginia Port Authority, which operates terminals in Portsmouth, Newport News and Norfolk, reported Thursday that 225…
Rickmers Trust Management (Rickmers Maritime) suffered a loss of USD15.7 million for the second quarter ended 30 June 2015 from a profit of USD16 million in 2Q14. Rickmers Maritime recorded a net loss after tax of US$15.7 million in 2Q2015…
APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have signed a joint venture agreement to jointly manage and operate Compas S.A.’s existing multipurpose Cartagena Terminal…