Venezuela's public-sector imports, which include subsidized food for the poor, surged in the first quarter of this year despite U.S. sanctions that President Nicolas Maduro describes as a full blockade, a recent release of central bank data shows…
In the 2019 first half, 106,000 TEU - 20-ft standard containers - were handled in Hamburg on direct services with Indian ports, a gain of 17 percent. This brought India up into tenth place in Hamburg’s ranking of its trading partners for container transport…
Virgin Hyperloop One (VHO) is anticipated to pile in a potential US$4 billion into Saudi Arabia as it strives to make hyperloop transportation a reality.A 35-kilometer test and certification track will be built 100 kilometers north of the Red Sea port of Jeddah…
Gulf Navigation Holding, the Dubai Financial Market listed maritime and shipping company, has announced a 19 per cent operating revenue growth by the end of Q3 of 2019, compared to the same period last year.The Dubai-based shipping company recorded…
Maersk, a global integrator of container logistics, has laid the foundation stone of its planned ‘A.P. Moller – Maersk Center of Excellence’ facility at Thenpattinam (Tamil Nadu), to support skill development and training needs for Maersk cadets across job functions (deck…
Florida’s largest container port achieved record volumes in containers, vehicles and overall tonnage during the fiscal year ending September 30, 2019.The Jacksonville Port Authority (JAXPORT) moved more than 1.338 million twenty-foot equivalent units (or TEUs…
The Baltic Exchange's main sea freight index edged up on Thursday, ending a nine-session losing streak, on higher demand for capesize vessels.The Baltic index, which reflects rates for capesize, panamax and supramax vessels, inched up 6 points…
TOTE promoted Karen Gaskill to the newly created role of vice president of human resources for three of TOTE’s four operating companies, including TOTE Services, TOTE Maritime Puerto Rico and TOTE Resources.Gaskill, who most recently served…
S-Oil, South Korea's third-largest refiner, said on Wednesday that regional refining margins are expected to improve in the fourth quarter on the back of inventory build-up ahead of implementation of stricter rules on marine fuels in 2020.The refiner…
Essar Ports, India's second-largest, private-sector port and terminal company by capacity and throughput, posted a record 20 per cent cargo growth in April-September period of the ongoing financial year (ending March 31, 2020) with a throughput of 27…
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) and Royal Caribbean Cruises Ltd. (NYSE: RCL) signed a memorandum of understanding (MOU) with the government of Saint Lucia to form a joint venture to manage the existing cruise pier and terminal facilities in Saint Lucia…
The Port of Rotterdam announced a 1% rise in cargo handing, after it handled 112.4 million tonnes of freight, meaning that the total of 353.5 million tonnes were transmitted up to the end of the third quarter.Volume growth was mainly driven by containers…
Two large-capacity Sovcomflot tankers using cleaner-burning LNG as a primary fuel, Mendeleev Prospect and Lomonosov Prospect, have successfully completed their respective voyages eastbound along the Northern Sea Route (NSR).Lomonosov Prospect has reached Cape Dezhnev…
CMA CGM launches SHIPFIN Trade Finance, its new range of import and export financing solutions.An innovative offering of simple, reliable and rapid financial services;Two complementary solutions for importers and exporters: Supply Chain Financing and Cargo Financing…
Danish shipping company A.P. Moller-Maersk adjusted its expectations for its 2019 profit upwards on Monday following lower fuel prices and capacity management in the third quarter.Maersk said it expects earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of $5…