According to a report from Bloomberg, the number of container ships idled rose to the highest level in 18 months as the supply of vessels expanded and trade growth slowed, citing information from Alphaliner.According to the report, 210 ships with a combined carrying capacity of 526…
Hyundai Merchant Marine Secures US$500 million debt facility from banks led by DNB. South Korean shipping group Hyundai Merchant Marine (HMM) has secured a USD500 million debt facility from a syndicate of financial institutions led by DNB Bank…
LNG Solutions for Large Container Vessels the Focus of GL and IHIMU Joint Development Project. LNG as ship fuel is already a proven alternative for short sea shipping, but what about the primary engine of global trade - the boxship? To investigate…
Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts…
Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD. Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were…
Horizon Lines Stockholders Approve 1-for-25 Reverse Stock Split at Special Stockholder Meeting. Horizon Lines, Inc. (OTCQB: HRZL) announced that stockholders at the company's special stockholders meeting on December 2, 2011, voted to approve…
Crowley Awards Three United States Merchant Marine Academy Cadets with Scholarships at the Connie Awards Luncheon. Continuing in its tradition of supporting academic excellence, Crowley Maritime Corporation awarded Thomas B. Crowley Sr…
Connie Luncheon Held at The Newark Club, December 5; Stanley Sher Given Lifetime Achievement Recognition. Connie Award recipient is R. Kenneth Johns, former president of Sea-Land Service Inc. Lifetime Achievement Award recipient…
Within the EU the Port of Hamburg is one of India’s most important commercial partners in seaborne foreign trade. In November the Hamburg Joint Representative Office in Mumbai was officially opened. This is designed to strengthen economic, but…
Volumes carried rose by 10% year-on-year to 2,604 million teus in the third quarter of 2011, confirming that CMA CGM is benefiting from the size and modern technology of its ships. Over the first nine months of the year, volumes carried were up by 9…
Florida-Based Sea Star Line LLC Agrees to Plead Guilty and Its Former President Is Indicted for Price Fixing on Coastal Freight Services Between the Continental United States and Puerto Rico Sea Star Line Also Agrees to Pay $14.2 Million Criminal Fine…
Diana Shipping Inc. (NYSE:DSX) announced that it has entered into a time charter contract with Morgan Stanley Capital Group Inc., for one of its Panamax dry bulk carriers, the m/v Nirefs, at a gross rate of $12,250 per day, minus a 5% commission…
Board to expand to eleven from eight; seven New Board Members Join Four Existing Directors; Four Directors Retire. Horizon Lines, a domestic ocean shipping company, today announced that it will expand its Board of Directors to 11 members from eight…
Hamburg Süd and CCNI on the one hand and China Shipping, Hanjin and Hyundai on the other have reached agreement on optimizing their service offering during the forthcoming slack season between Asia and Mexico/South America West Coast with effect from mid-November 2011…
Container service reliability improved for the second quarter in a row during the third quarter of 2011, according to Drewry Maritime Research’s latest Schedule Reliability Insight report. The report is the longest established independent survey…
