The White House has reached a 'deal in principle' with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said…
China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week.Beijing hopes it can reach a…
DNV GL entered into a Joint Development Project (JDP) with Huangpu-Wenchong Shipbuilding Company (HPWS) on a 5,000 TEU LNG dual-fuel containership. Wu Ronghui, HPWS Deputy Chief Engineer, and Falk Rothe, Head of DNV GL’s Technical Center China…
Shipping group CMA CGM said it planned to raise $2 billion to help finance its takeover of CEVA Logistics, with half the cash coming from selling port assets to its joint venture with China Merchants Port Holdings Co.France-based CMA CGM, the world's fourth-largest container shipping company…
Incidents involving container ships, although not new, have made the news much more frequently of late. In 2011 the Container Incident Notification System (CINS) was established to allow container ship owners to self-report incidents that might be of concern the other members of the group…
Chief Operating Officer (COO) Søren Toft has decided to pursue another opportunity outside the company and will leave A.P. Møller - Mærsk A/S effective today. CEO Søren Skou will take on the responsibilities of the COO in the interim.The Executive Board will hereafter consist of Søren Skou…
The accumulated growth rate for US inbound containers has almost been cut in off half from 5.1% in 2018 to 2.6% in August of 2019.Towards the end of 2018, US retailers frontloaded consumer goods ahead of the planned tariff hike in January 2019…
On Saturday, November 2nd, the Massachusetts Port Authority (Massport) received two new rubber-tired gantries (RTGs), increasing the number of RTGs at the Paul W. Conley Container Terminal to 16. Adding equipment is part of an $850 million investment…
China's commerce ministry said on Thursday that Beijing and Washington will proceed with the bilateral trade negotiations according to plan and that the talks are progressing well.The ministry, in a statement, said the two sides remain in close…
Danish shipping company A.P. Moller-Maersk adjusted its expectations for its 2019 profit upwards on Monday following lower fuel prices and capacity management in the third quarter.Maersk said it expects earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of $5…
Global ports operator DP World has struggled to borrow from banks to finance new investments since a port it partially owns in Djibouti was seized by the government there in 2018, its chairman said on Monday.'We are investing but it is costing us more…
Due to the continuous growth of its South American operations, global logistics provider Dachser recently relocated both its Buenos Aires, Argentina regional office as well as its Santiago, Chile regional office to larger facilities.“The business…
White House economic adviser Larry Kudlow said on Friday that the U.S. team was 'open-minded' about the outcome of U.S.-China trade talks next week, which will include deputy-level meetings on Monday and Tuesday, with minister-level meetings Thursday and Friday…
Global growth in container volumes has picked up slightly in the second quarter of the year, with growth in the first seven months reaching 1.2%, compared to the just 0.8% in the first quarter.Global growth in container volumes has picked up slightly in the second quarter of the year…
The CMA CGM Group announced the appointment of Olivier Casanova as Group Deputy Chief Financial Officer.He will also serve as CEVA Logistics’ Chief Financial Officer.Casanova is a graduate from HEC. He started his career in 1991 as an investment…
