In order to get through the crisis of global shipping, Germany-based container line Hapag-Lloyd will ally with United Arab Shipping Company (UASC). HL is in talks to merge with UASC, representing the latest move in container shipping corporate consolidation…
CMA CGM has increased the capacity on its West Coast Feeder service via Liverpool to 2200 TEU from 900 TEU. M.V. Nicolas Delmas began calling at the port in April. The service begins in Antwerp and also calls at Greenock, Belfast, Dublin and Le Havre…
GAC North America has signaled its strategic focus on the South American oil and gas sector with the appointment of Carlos Arrieta as Regional Commercial Director – Oil and Gas, responsible for developing its network of agents and general cargo throughout the region…
The Dewan Rakyat (House of Representatives) of the 13th Parliament of Malaysia has passed the Merchant Shipping Ordinance (Amendment) Bill 2016 aimed at standardizing national maritime law with the international maritime community, reports Bernama…
InterManager has welcomed the joint BIMCO/ICS Manpower Report, but says it should act as a wake-up call for the industry to address the issue of the accelerating shortage of seafarers.Speaking soon after the report was published, InterManager Secretary-General…
The Bureau of Safety and Environmental Enforcement is continuing its investigation of the oil release from Shell Offshore Inc.’s Glider Field on May 12. The Glider Field, located approximately 97 miles south of Port Fourchon, LA, includes subsea…
Ferry operators now eligible for New Building Canada funding Ferry operators across Canada applaud new changes made by the federal government that will allow infrastructure projects related to ferries to be eligible for funding under the New Building Canada Fund…
Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year. The pure play LNG transportation provider said that an oversupply of shipping in the carrier market…
India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday.'The Indian government is seeking to pay the $6…
EBITDA of EUR 123.4 million / EBIT of EUR 4.8 million / Transport volume up 2.1% / Sharp year-on-year decrease in freight rate / Further efficiency measures plannedHapag-Lloyd recorded a positive operating result in a very challenging first quarter of 2016…
Japan’s three largest shipping companies - Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K Lines (MOL), and Kawasaki Kisen Kaisha (“K” Line) - and three other carriers worldwide will form the world's third-largest container shipping alliance…
The Singapore-based offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects…
Concordia Maritime entered into a settlement agreement regarding a dispute associated with Stena Primorsk’s grounding in the Hudson River in December 2012. According to the settlement agreement, Concordia Maritime will pay $9.25 million to the counterparty…
Mitsui O.S.K. Lines, Nippon Yusen Kaisha, “K” Line, Hanjin, Hapag-Lloyd and Yang Ming to create a new partnership “THE Alliance”Tokyo, May 13, 2016 - Mitsui O.S.K. Lines (MOL, President & CEO: Junichiro Ikeda), Nippon Yusen Kaisha, “K” Line…
Presenting its financial results for the first quarter ended 31 March 2016 today Vard Holdings Limited announced a net profit of NOK 43 million for the period, as compared to a loss of NOK 226 million a year back. Over the past quarter,…