MOL announced a new service to transport cargo from major Asian ports to key destinations on the U.S. East coast, via the Suez Canal. The service is a direct result of MOL’s ongoing efforts to develop products with competitive transit times and industry-leading on-time performance…
Despite the persistently challenging environment in the industry, Hapag-Lloyd increased its transport volume and revenue in the first quarter of 2012. The average freight rate was $1,484/TEU in Q1, down around 5% on the previous year’s figure of $ 1…
High fuel costs, low freight rates conspire to create tough 1QNOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year…
APL’s largest and newest vessel is also its most environmentally-friendly and fuel-efficient.The Singapore-based carrier says the 10,700-TEU APL Southampton, which called on the Port of Singapore on her maiden voyage today, has been fitted…
An historic Civil War shipwreck blocks dredging deep-water access channel to Port of Savannah container ship terminalBefore government engineers can deepen one of the nation’s busiest seaports to accommodate future trade, they first need…
'Next Generation Container Port Challenge' (NGCP) competition announced by Singapore authoritiesPerformance, productivity, sustainability - achieve these three targets in order to win the Next Generation Container Port (NGCP) Challenge's top prize of USD1 million…
With the lifting of trade sanctions, Rickmers-Linie is once again able to offer calls at Myanmar. Initially, the country’s main port, Yangon, will be served on inducement as part of the company’s Indian service and will cater for heavy lift cargo up to 800 tonnes in weight…
San Francisco Bay 2007 container ship crash owner to sue pharmacists for negligent supply of medication to the harbor pilot concernedThe owners and operators of a container ship that slammed into the San Francisco-Oakland Bay Bridge in 2007…
Maersk container ship disabled, drifting off the coast of Portugal after engine failure. Tug ordered just in case.Maersk Line container ship Gerd Maersk, on passage from the Far East to Bremerhaven, following engine failure, was drifting about 20 miles northwest of Porto…
Owners of wrecked 'Rena' held accountable by Maritime New Zealand, bulkhead down, wreck disintegratingMaritime New Zealand (MNZ) has charged the owner of the cargo vessel Rena, following the ship's grounding on Astrolabe Reef off Tauranga on 5 October…
HSBC reminds UAE forum of growing importance of MENA (Middle East, North Africa) & China trading corridorsTrade corridors between China and the MENA region carry huge economic growth potential for businesses, offering the greatest prospects…
Ship Finance International Limited (NYSE:SFL) has agreed to terminate chartering agreements with Horizon Lines, LLC relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued…
Maritime New Zealand Authority updates wrecked container ship condition in storm conditions Salvors report the aft section of the wreck being subject to rolling movement in rough seas, with waves of 8-10m hitting the vessel. It is…
Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container…
Final Restoration Plan Completed for Cosco Busan Oil Spill; Projects will Address Impacts from Ship that Struck the Bay Bridge.State and federal trustee agencies have released the Cosco Busan Oil Spill Final Damage Assessment and Restoration Plan…
