Greece has submitted a fresh proposal which includes hiking shipping taxes and to gradually remove the industry's special tax status to the EU in a bid to secure a 53.5 billion euro ($59bn) rescue package to help cover its debts until 2018 and stave off bankruptcy…
Ezra Holdings saw its net profit for 9M15 grow 50.6 percent to US$51.5 million despite a net loss of US$3 million for the latest quarter, as sluggish oil prices weighed on activities of the oilfield service industry. For the first nine months of its financial year…
India is considering importing liquefied natural gas from Canada towards meeting its requirements, the petroleum ministry said. Petroleum Minister Dharmendra Pradhan met Canadian Natural Resources Minister Greg Rickford to discuss enhancing energy cooperation between the two countries…
Nigeria and Greece have signed a deal that will enable Nigerian ship owners to own vessels that would be transferred to them by their Greek counterparts, reports Channels Television. Nigerian ship owners have reiterated their preparedness…
An added 400 dockworkers to handle Port of Oakland cargo; first new hires arrive this week to help clear vessel buildup The first of 400 new dockworkers arrive this week to meet the Port of Oakland’s need for more labor, the port announced today…
The ports of the Estonian state-owned port operator Tallinna Sadam (Port of Tallinn) handled in June 1.68 million tonnes of cargo and serviced 1,045,461 passengers. Compared to the same period last year, the cargo volume dropped by 25% while the number of passengers was by 1…
A Matson ship en route to Oahu from California has stalled at sea and may need to be towed to the islands, reports Hawaii News Now. A problem in the engine room cut off power on the cargo ship, Matsonia, and engineers onboard are working to restore power…
T.S. Lines has placed an order with Taiwan's CSBC Corp for two containerships with capacities of 1,800 TEUs, with an option for an additional two similar units. The price the Taiwanese carrier paid for the new vessels, which are set for delivery in the second half of 2017…
Mersey Maritime has hosted a visit by Maritime London as part of an initiative to develop ways in which the two bodies can encourage maritime organizations to work more closely together.Maritime London Chairman Alderman the Lord Mountevans of Chelsea…
The International Chamber of Shipping (ICS) has announced its final program for this year’s ICS International Shipping Conference which features speakers from across the global industry. The conference is one of the principal events during the second London International Shipping Week (LISW15)…
The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments. The document defines key terms of the future cooperation between the companies in the area of LNG supplies…
Global shipping consultancy Drewry predicts the container ship industry will be 'lucky to break even this year' as shipping rates slump due to catastrophic overcapacity. A toxic mixture of overcapacity, weak demand and aggressive commercial…
President Nursultan Nazarbayev has formally opened the Borzhakty – Ersai railway. The 13·9 km branch from the Aktau - Uzen line will serve a port which is being developed on the Caspian Sea near Kuryk. Construction of the line including the laying of 22·3 km of track was undertaken by Kamkor…
India's Adani Group is likely to take over the operational and management control of Larsen & Toubro (L&T) Kattupalli International Container Terminal near Chennai, reports Business Standard. Adani is in the final stage of getting into an arrangement with L&T to take over the terminal…
The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R. Saadé, founder, Chairman and Chief Executive Officer of the CMA CGM Group…