The Baltic Exchange's main sea freight index dropped nearly 2 percent on Wednesday, weighed down by lower rates for capesize vessels ahead of a week-long Lunar Year break in China starting Thursday. The overall index, which factors in rates for capesize…
Following the announcement of the 2018 service network in December the members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have worked to refine the product offerings. Several services will see additional enhancements to improve transit times…
Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC). 'MOL and NCC concluded the agreement with the objective…
U.S. ports are positioned for another solid year of growth, though the Trump administration's evolving stance on both domestic and international trade is a long-term development worth a close watch, according to Fitch Ratings in its latest sector briefing…
Diana Containerships announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party the 2006-built vessel “New Jersey” for demolition, on an “as is where is” basis, with delivery due to the buyer by mid-March 2018…
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report. As container lines search for successful paths forward…
RollDock and SAL Heavy Lift announced plans to join forces for roll-on/roll-off and float-in/float-out heavy lift cargoes, saying they will launch a “world’s first” pool for dock vessels from April 1, 2018. The pool will consist of the combined…
Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki…
Hyundai Merchant Marine (HMM) announced that it has established a consortium with global liners, MSC, Hapag-Lloyd, and ONE to launch joint services between Asia and west coast of South America. Previously, HMM operated three Asia-west coast of South America services with MSC…
Samsung Heavy Industries (SHI) swept 1 trillion KRW (USD 91.47mln) worth orders, including an order from an Asian owner to build eight 12,000TEU containerships for around 820 billion KRW. The neo-panamax vessels are 334m in length and 48…
DryShips, a diversified owner of ocean going cargo vessels, announced that its wholly owned subsidiary, Gas Ships Limited has filed a registration statement on Form F-1 with the U.S. Securities & Exchange Commission, to spin off of its gas carrier business from the Company…
There were 600 ships registered in the Norwegian International Ship Register (NIS) by the end of January, making the highest number of ships in the register since 2008. The ship register had been characterized by decline until 2015; there were 522 ships in the NIS in 2014…
Marlink Group company Telemar has been chosen to provide bridge system repair and maintenance services to Carisbrooke Shipping. The new contract further combines Marlink Group capabilities to enhance Carisbrooke Shipping’s operational efficiency and continuity…
The number of liquefied natural gas (LNG) tankers traversing the Panama Canal is expected to jump 50 percent by September due to rising exports of the fuel from the United States, the head of the canal's governing agency told Reuters. After adding a third set of locks in 2016…
South Korea's Hyundai Merchant Marine (HMM) announced it is beginning its cooperation with Singapore based carrier, AAL Shipping, for Multi-Purpose Vessel (MPV) service.Specialist multipurpose carriers and long-standing collaborators, AAL and Hyundai Merchant Marine (HMM)…