FSL Trust Management (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), reported a net profit of $3.4 million for the three months ended March 31, 2017, compared to $2.3 million reported in 1QFY16. This positive result was achieved despite challenging industry conditions and a 17…
The European Sea Ports Organisation (ESPO) issued a statement to contribute to the Commission’s Maritime Year and to follow up on the Valletta Declaration, the ministerial declaration on maritime transport, adopted on March 28 focusing on competitiveness…
AWO testifies before Congress on dangers of foreign carrier alliances negotiating collectively with U.S. tugboat operators Tom Allegretti, President & CEO of The American Waterways Operators, testified before the House Transportation & Infrastructure…
Reps. Green, Wittman introduce Domestic Maritime Centers of Excellence Act New legislation introduced his week intends to advance the capabilities of two-year community and technical colleges to assist the federal government and industry…
U.S. Federal Maritime Commissioner William P. Doyle issued the following statement regarding the FMC Decision: Yesterday, I voted to reject the Tripartite Agreement proposed by Kawasaki Kisen Kaisha, Ltd. (K Line); Mitsui O.S.K. Lines Ltd…
Breaking down the challenges of the 2020 sulfur cap can be confusing. Matti Bargfried provides a primer. What has happened so far? The IMO this October voted in its 70th session of the Marine Environment Protection Committee to globally cap the maximum amount of sulfur allowed to 0…
Eimskip has secured 80% financing of the contract price of the vessels with a 15 year tenor in Euros taken upon delivery. The lender is the German bank KfW IPEX-Bank GmbH. The loan is secured by China Export & Credit Insurance Corporation (Sinosure)…
The world's biggest container shipping company Maersk Line will pay 3.7 billion euros ($4.02 billion) for its acquisition of smaller German rival Hamburg Sud, it said on Friday. Combined, the two companies will be able to realise annual operational savings of about $350 million to $400 million…
Bryan Day, executive director of the Little Rock Port Authority, weighs in on President Donald Trump’s proposed infrastructure plan, calling for U.S. policymakers to consider inland waterways and ports in America’s infrastructure plan. President…
The U.S. Department of Energy announced that it has signed an order authorizing Golden Pass Products LLC to export domestically produced liquefied natural gas (LNG) to countries that do not have a free trade agreement (FTA) with the United States…
The reemergence of organotin in marine hull coatings is of increasing concern, with academics and environmentalists calling on International Maritime Organization (IMO) to investigate the use of tin in silicone-based foul release systems and other ships hull coatings…
World No. 1 shipping company Maersk Line gained EU antitrust approval on Monday for its acquisition of Hamburg Sud (HSDG) after agreeing to pull the German company out from five consortia on trade routes to address competition concerns. The bid by Maersk…
Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three…
EU antitrust regulators will approve Maersk Line's acquisition of German peer Hamburg Sud after the world's biggest shipping company agreed to pull Hamburg Sud out from some trade route groups, a person familiar with the matter said on Friday…
DryShips Inc. has entered into agreements to acquire six vessels for a total gross price of $268 million. It has also entered into an agreement with Kalani Investments Limited. These vessels are comprised of one Aframax tanker built in 2012…