MPC Container Ships ASA (MPCC) announced it has reached a deal to acquire fellow Norwegian-based container shipping company Songa Container AS for $210.25 million on a debt and cash free basis. The transaction is expected to be completed by the end of July 2021…
The owners of a container ship that blocked the Suez Canal in March have made a new offer in a compensation dispute with the canal authority, and a court ruling on the case was postponed for two weeks on Sunday to allow more time for negotiations…
Deutsche Bank is on course to make up to $1 billion on a long-shot bet on Israeli shipping firm Zim after it surged in value on the back of record-high global freight rates, Bloomberg reported on Tuesday.Citing unnamed sources familiar with the matter…
A retail trade group is asking President Joe Biden and other top administration officials to help address challenges retailers are facing from continued supply chain disruptions that are leading to congestion at U.S. ports.“The supply chain disruption issues…
Congestion at container shipping ports in southern China is worsening as authorities step up disinfection measures amid a flare-up in COVID-19 cases, causing the biggest backlog since at least 2019.More than 150 coronavirus cases have been reported in Guangdong province…
cavotec said it has won a series of orders in the second quarter with a total value of €5 million ($6.1 million) to equip the world’s largest newbuild containerships with ShorePower systems. This is in addition to €3 million ($3.7 million) in orders already secured in the first quarter…
The 15,000 TEU Brussels Express is the first large containership in the world to have been converted to liquefied natural gas (LNG) propulsion, German shipping company Hapag-Lloyd said on Monday, as operators look to LNG fuel to reduce their environmental footprint…
China's imports grew at their fastest pace in 10 years in May, fueled by surging demand for raw materials, although export growth slowed more than expected amid disruptions caused by COVID-19 cases at the country's major southern ports.While…
The below e-mail recently received by the author paints the picture we are seeing a thousand fold in the current ocean shipping marketplace in the inbound/outbound Asia trade lanes which underscores the serious disconnect currently between ocean common carriers and shippers in these U…
CMA CGM, one of the world's largest container shipping groups, on Friday posted a jump in first-quarter earnings and said it expected strong demand for transporting consumer goods to continue for the rest of the year.French-based CMA CGM's net profit rose to $2…
Chinese shipping group COSCO hopes to reach a deal with the Greek government to complete the purchase of an extra stake in Piraeus, despite running out of time to fulfil a key condition, a top official at the port said.Under a 2016 Greek privatization agreement…
Finnish marine equipment and technology company Wärtsilä said on Thursday it is working to develop an autonomous, emissions-free intra-port, inter-terminal container shuttle that would help address the emerging capacity bottleneck for internal container transportation…
For European exporters looking to source shipping containers, existing shortages could deteriorate significantly in the coming weeks, according to the latest data from Container xChange, an online platform for the leasing and trading of shipping containers…
Bureau Veritas has granted approval in principle (AIP) for the Trade Wings 2,500 design, a wind- and LNG/electric-powered containership concept designed jointly by VPLP Design, Alwena Shipping, SDARI and AYRO.As the maritime industry moves toward designs and technologies that minimize emissions…
Port Houston said activity across its docks jumped again in April, showing robust growth in both containers and steel due to high regional demand.Container activity at the Gulf of Mexico's largest container port increased 25% for the month of April…
