Germany’s largest universal port, the Port of Hamburg, reported a container throughput of 7 million TEUs for the first three quarters of this year, representing a growth of 6.9 percent year-over-year.The climb in container handling is primarily attributable to the four new transatlantic services…
Norwegian LNG carrier owner Flex LNG posted a net income of USD 0.5 million for the third quarter of this year, compared to a net loss of $3.9 million for the second quarter 2019.It reported revenues of $29.8 million for the third quarter 2019…
Israeli international cargo shipping company ZIM Integrated Shipping Services continued to record improvements and to expand its global network to its customers confronting challenging business environment.ZIM has reported a net profit of USD 5 million for the third quarter of 2019…
Directors of North P&I Club have decided to set a general increase of 7.5% on P&I and FD&D premiums for the 2020/21 Policy Year. The increase is considered necessary to maintain the Club’s financial strength and stability in a climate of rising International Group Pool claims and premium erosion…
Lineage Logistics Holdings, the world’s largest provider of temperature-controlled logistics solutions, announced it has signed definitive agreements to acquire Emergent Cold, the global cold chain services provider.This acquisition strengthens…
Naval architect and marine engineering company Foreship plans to establish a new business entity in Germany, targeting January 1, 2020 as the launch date for Foreship GmbH.The move is designed to forge closer ties with German owners, shipyards…
Intellian released the latest model in its new NX Series VSAT antenna portfolio. The v130NX is reported to be the world’s first Ku-Ka convertible VSAT terminal with a 1.25-m reflector, qualifying it for high-speed global Internet on ships, offshore vessels and superyachts…
Lasse Stokkeland has decided to leave his position as general manager of Havyard Ship Technology AS (HST), and the Board has appointed Erlend Hatleberg as the new general manager.Hatleberg, 43, grew up in Leirvik in Sogn and now lives in Dale in Sunnfjord…
The latest offering Anglo-Eastern, from the Hong Kong-based ship manager, is an educational gaming app aimed at reducing shipboard deficiencies.Launched during Hong Kong Maritime Week, “Vessel Inspector” is a gaming app that encourages players…
U.S. Department of Transportation Maritime Administration Administrator, Admiral Mark Buzby formally presented a check for $18 million to Beaumont for the Port of Beaumont Multimodal Corridor Expansion and Improvement Project. U.S. Secretary of Transportation Elaine L…
Shell Marine won a contract to supply lubricants for five 62,000 dwt multi-purpose pulp carriers due delivery to COSCO SHIPPING Specialized Carriers Co Ltd in 2019 and 2020.The lubricants contract calls for delivery of the two-stroke engine…
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo…
Canadian energy company Northland Power and the Japanese provides renewable energy project development services Shizen Energy have agreed to set up a joint venture to develop offshore wind projects in Japan.Under the terms of the agreement,…
South Korean shipping giant Hyundai Merchant Marine (HMM) has joined the Getting to Zero Coalition, a new alliance that aims to accelerate international shipping’s decarbonization.Getting to Zero Coalition is a powerful alliance of nearly 100…
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets…