Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens…
Port Klang Authority (PKA) announced that the 2nd phase of the increase in Port Klang’s container tariff which was due to be implemented on 1st September 2018, will be deferred to 1st March 2019.The tariff review was approved in 2015 whereby an increase of 30% was to be carried out in two phases…
Global trade tensions have captured headlines in recent months, as the imposition of a series of tariffs and counter-tariffs by various global trade counterparts has raised questions about the possibility of a trade war. Such development could potentially have an impact on global trade flows…
German shipping company Hapag-Lloyd is continuing to focus on the growing market in East Africa, where annual growth rates of approximately six percent lead the African continent.In April 2018 Hapag-Lloyd launched the East Africa Service (EAS)…
Hapag-Lloyd is investing in its container fleet and has ordered 11,100 state-of-the-art reefer containers. The new containers will be integrated to the company’s existing fleet of 91,000 reefer containers, with delivery gradually starting in August and to be finally completed by December 2018…
Kalmar, part of Cargotec, has secured an order to supply 15 units of container handling equipment to Shanghai International Port Group (SIPG).This order, including a total of 4 units of Reachstackers and 11 units of Empty Container Handlers…
U.S. Trade Representative Robert Lighthizer on Thursday said he hopes there will be a breakthrough in NAFTA trade talks in the next few days, as the U.S continues discussions over the North American Free Trade Agreement.Lighthizer made the remarks at White House meeting of President Trump's Cabinet…
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after U.S. President Donald Trump slapped an import duty on the alloy earlier this year.During the first quarter of the fiscal year starting in April…
Yang Ming Marine Transport Corp. (Yang Ming) signed a contract with CSBC CORPORATION, TAIWAN (CSBC) for the construction of a total of ten 2,800 TEU class full container vessels. The contract was signed by Yang Ming’s Chairman Bronson Hsieh and CSBC’s Chairman Cheng Wen-Lon…
The White House on Wednesday condemned Turkey's doubling of tariffs on U.S. cars, alcohol and tobacco imports, calling the action 'a step in the wrong direction.'Turkey took the action in response to what it called the Trump's administration's attack on its economy…
The Port of Los Angeles processed 833,568 Twenty-Foot Equivalent Units (TEUs) last month, the busiest July in the port’s 111-year history. The cargo volumes exceeded July 2017, the previous record, by 4.6 percent. It was the fourth busiest month overall in the port’s history…
Port of Oakland total container volume increased 3.6 percent in July, according to data released. The Port said the rise over July 2017 totals was driven by an increase in empty container shipments to Asia.Import cargo volume declined 0.6 percent in July…
Norwegian shipbuilder VARD has secured a contract worth approximately NOK 250 million ($29.5 million) to build the world’s first autonomous and electric container vessel, Yara Birkeland. VARD will deliver the groundbreaking ship for launch in early 2020…
Great Lakes-St. Lawrence shipping continues to bounce back after a slow start. With strong tonnage numbers in July, particularly shipments of U.S. grain, liquid bulk and project cargo, the 2018 shipping season is right on par with the healthy statistics posted last year…
UK-based Portland Port leverages new fabrication and welding facility to win a bigger share of ship repair, refit, conversion and shipbuilding markets.Polish-owned maritime engineering company Intermarine UK has unveiled major growth plans after investing a six-figure sum in a new 2…
