Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative, according to a report and index looking at the importance of the world’s key shipping centers…
Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped it mitigate an anaemic dry-commodities shipping market. Hong Kong-listed Pacific Basin…
Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions. As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions…
China Cosco Holdings, the flagship unit of Cosco Group, is expecting a net profit of Yuan1.9bn ($306m) for the first half, against the Yuan2.3bn loss during the same period last year. Compared to the same period of last year, the company turned losses into profits in the first half of 2015…
Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales activities as chief commercial officer (CCO).Haeser, a law graduate, is currently managing director of Versatel GmbH…
A new piece of legislation, the Cuba Trade Act of 2015, was introduced in Congress Tuesday that aims to lift the Cuba embargo and allow for U.S. businesses in the private sector to trade freely with Cuba, while prohibiting taxpayer funds to be used on promotion or development of this new market…
The opportunities and challenges faced by India’s coastal shipping industry as the country strives for a more optimal modal mix among various modes of transport will top the agenda at the upcoming 3rd edition of Coastal Shipping and IWT Business Forum 2015 which takes place at the Marriott Hotel…
The West Gulf Maritime Association (WGMA) is urging its members with ships arriving at any port in the western US Gulf to participate in the Menhaden survey.The annual Menhaden spawn (typically April through October) has created challenges for ships transiting local waterways…
Suez Canal Authority (SCA) chairman Mohab Mamish officially called on international maritime navigation lines to use the New Suez Canal, scheduled to be inaugurated August 6. Dubbed the Suez Canal Axis, the new 72-kilometre (45-mile) section…
India has deferred taking deliveries of at least 20 shiploads of expensive liquefied natural gas (LNG) from its main supplier Qatar and wants a rate cut matching the 60 per cent fall in international rates, as global gas prices slumped, reports Reuters…
The dry bulk market looks set for a solid show, although conditions remain more than challenging, analysts with Macquarie said in a note, reports WSJ. As the amount of iron ore and other goods carried by these ships races ahead of new capacity…
Low oil prices and muted sentiment in the industry continued to take a toll on Sembcorp Marine's second-quarter earnings. The rigbuilder has announced that net profit for the three months ended June 30 sank 17 per cent to to $79.58 million (SGD 109 million)…
The Long Beach Board of Harbor Commissioners elected Lori Ann Farrell Harrison as its new Board President on Monday. The five-member Harbor Commission, which oversees the Port of Long Beach, also selected Lou Anne Bynum as Vice President and Tracy Egoscue as Secretary…
Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services. The company expects to invest more than $30 million in new equipment planned by Horizon prior to its acquisition…
Six local and foreign firms have expressed interest to construct a modern Davao Sasa Port, the Department of Transportation and Communications (DOTC), Philippines said. The companies that purchased the bid documents include Anflocor, Netherlands-based global operator APMT…