Russia's largest freight container operator, TransContainer said on Tuesday Russian aluminium giant Rusal had suspended exports through TransContainer's system after Rusal was hit by U.S. sanctions 'They (Rusal) do not know what to do yet, what is going on with them…
Danish dry bulk carrier Thorco Bulk announced today it has been renamed Trithorn Bulk with immediate effect.“This is a natural development for our company. We wish to further strengthen our corporate identity and position in the market by taking a name that truly expresses what the three of us…
The world’s number two container group Mediterranean Shipping Company (MSC) has stopped any new potential trade with Russian entities that were sanctioned by the United States, the Swiss headquartered firm said on Tuesday. The United States…
Trade and investment restrictions are proliferating around the world, driven by a combination of security concerns and protectionist pressures. In each instance, policymakers can usually cite a justification of why trade and investment restrictions are necessary…
NYK will publicly offer Green Bonds (Unsecured Corporate Bonds No.40) within the Japanese domestic market in May, becoming the world’s first company to issue labelled Green Bonds in global shipping business sector.A green bond is one in which…
China aims to establish a free trade zone in Hainan by 2020 and will encourage multinationals to set up their international and regional headquarters in the province, state news agency Xinhua reported citing a government document.The guidance…
'The IMO has done something no one has done before: set an absolute target for emission reductions for an entire industry. It is a landmark achievement in the effort to reduce emissions, and something that every other industry should look to for inspiration…
Vroon shipping group has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring. The agreement, which is only subject to final documentation and credit committee confirmation, is an important…
Danish bunker and tanker group Monjasa Group improved profitability in our operations and we continued making progress in optimising operational expenditures in 2017. Together, this led to a financial turnaround compared to an unsatisfactory 2016…
Orient Overseas International (OOI) has announced a profit attributable to equity holders for 2017 of US$137.7 million, compared to a loss of US$219.2 million in 2016. Earnings per ordinary share in 2017 was US22.0 cents, whereas loss per ordinary share in 2016 was US35…
Indian Register of Shipping (IRClass) classification society has received authorization as a Recognised Organisation (RO) from Netherlands’ flag administration. The authorization comes just months after IRClass received authorization from Europe’s largest flag Malta in December last year…
Danish shipping and logistics company DFDS has agreed to buy Turkish freight shipping operator U.N. Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings for 950 million euros ($1.17 billion) on a debt-free basis. It marks a change of course for the Turkish company…
World goods trade will grow 4.4 percent this year, maintaining a rapid recovery that could nevertheless unravel if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Global trade growth…
Danish A.P. Møller – Mærsk A/S has decided to establish a restricted shares plan for the members of its Executive Board in addition to the stock option plan established in 2017. 'In continuation of the adoption of revised General guidelines for incentive pay and Remuneration Policy for A…
DP World Australia announced the signing of a long-term partnership extension regarding service of CMA CGM Group vessels by DP World Australia at its terminals in Brisbane, Sydney, Melbourne and Fremantle. This partnership extension brings…