Leasing companies are tightening their stranglehold over container equipment ownership as ocean carriers cut back on new purchasing and sell older inventory for leaseback, Drewry's report said. But the lessors’ rapid expansion has come…
Traders adding U.S. port options to cargoes for flexibility. Traders are scrambling to find oil products in Asia to ship to the United States and Latin America after Hurricane Harvey shut almost a quarter of U.S. refining capacity, several trading and shipping sources told Reuters on Wednesday…
China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month…
Germany's Thyssenkrupp said it has won an order from Brunei to build a fertilizer plant in the southeast Asian state, in a much-needed boost to its struggling industrial solutions division. It did not disclose the value of the contract, awarded by state-run Brunei Fertilizer Industries…
The National Shipping Company of Saudi Arabia (Bahri) announces that its subsidiary Bahri Dry Bulk Company (owned 60% by Bahri) (BDB) has signed contracts with Hyundai Heavy Industries (HHI) to build 4 bulk carriers. These carriers will be delivered during the first half of 2020…
Capital Product Partners, an international diversified shipping company, announced that it has secured new time charter employment for three Medium Range (MR) Product Tankers. The M/T 'Amadeus' (50,108 dwt, IMO II/III Eco Chemical/Product Tanker built 2015…
Keppel AmFELS, a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) in the United States (US), has secured a contract worth more than US$400m from Honolulu-based Pasha Hawaii for the construction of two Liquefied Natural Gas (LNG) fueled containerships…
Skangas and ESL Shipping have entered into an agreement for providing gas fuel to ESL’s LNG-powered bulk carrier newbuildings. These two new vessels will start operating during first half of 2018. The first of the two vessels was named “Viikki” in June 2017…
Agreement with Liberian Registry will allow all Liberian-flagged vessels to benefit from independent IMO DCS and EU MRV verification services from Verifavia Emissions verification company for the transport sector Verifavia said it has signed…
Kalmar, part of Cargotec, continues its long-term cooperation with DP World Australia, the country's largest stevedore, with orders of 38 new machines for its new logistics arm, DP World Logistics Australia. The orders include 7 Kalmar reachstackers…
Seaspan Corporation said it has accepted delivery of the MSC Shuba B, an 11,000 TEU containership that will commence a 17-year fixed-rate bareboat charter with Mediterranean Shipping Company S.A. (MSC). Upon completion of the bareboat charter period…
French shipping group CMA CGM plans to build nine of the world's largest container ships at two Chinese shipyards, the China Daily newspaper reported on Wednesday. Shanghai Waigaoqiao Shipbuilding Co confirmed that it and its sister yard Hudong-Zhonghua Shipbuilding (Group) Co…
Maersk Tankers said on Wednesday it has entered into an equity agreement with U.S. hedge fund CargoMetrics, giving it access to analytical models and algorithms to better manage its tanker operations. Maersk Tankers, a unit of shipping group A…
Diana Containerships Inc. said plans to reactivate one of its idle Panamax container vessels, the m/v Pamina, a 5,042 TEU container vessel built in 2005.The company also announced that, through a separate wholly-owned subsidiary, it has entered…
South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) is in talks with BlackRock Inc about a potential investment but details have yet to be discussed, a HMM spokesman said on Monday. BlackRock is in talks with HMM to invest up to 1…
