Swiss trader and miner Glencore expects to secure U.S. approval by the end of June on the U.S. portion of a deal to sell a 51 percent stake in its storage and logistics business to China's HNA Group, sources familiar with the matter said. Glencore…
The Norwegian Central Bank has decided to exclude ship owners Evergreen Marine Corporation, Precious Shipping, Korea Line Corporation and Thorensen Thai Agencies from the Government Pension Fund Global (GPFG). The exclusion is based on…
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it has acquired the Navios Felicitas, a 2010-built, 4,360 TEU containership for a purchase price of USD 11.45 million. The vessel was delivered to Navios Containers’ fleet in December 2017…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit a more than four-month low on Tuesday, as capesize rates dropped to their lowest since August last year. The overall index, which factors in rates for capesize…
Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million. Norden…
A/S Dan-Bunkering Ltd. has announced the promotion of Ibrahim (Ibo) Cördük to Senior Bunker Trader effective January 9, 2018. Cördük originally joined Dan-Bunkering’s Middelfart office in 2008, thus he can celebrate his 10th anniversary with the company this year.
Bryceon Sumner has joined Foss Maritime as chief financial officer, hired to oversee all aspects of the organization's financial function and performance.Sumner brings to the role years of experience gained at a number of organizations ranging from education technology and real estate…
The Baltic Exchange is looking into launching a freight index for liquefied natural gas (LNG) and is working with leading ship brokers to explore potential shipping routes that might be used as the LNG market grows, the company said on Thursday…
Digital transactions for the ocean shipping industry have arrived. Are you part of it yet? It may well be true that INTTRA is today the largest neutral electronic transaction platform, software and information provider for the ocean shipping industry…
Bahri Dry Bulk, a business unit of global transportation and logistics leader Bahri, has announced that it has secured a Sharia-compliant funding of SAR 360 million (USD 96mln) from Bank Albilad, one of the fast-growing banks in Saudi Arabia…
Giant iron ore port may close as Australian storm builds. Vessels may be cleared from Australia's Port Hedland, the world's biggest iron ore export terminal, as early as Thursday as a safety precaution because of a tropical storm, port manager Pilbara Ports Authority said on Wednesday…
French multinational banking and financial services company Societe Generale (Socgen) has joined SEA\LNG, the industry coalition promoting the use of liquefied natural gas (LNG) as a marine fuel. The bank is the first financial institution to join SEA\LNG…
DP World is planning to annually inject up to $1 billion in global investments until 2020, local media quoted company chairman and CEO Sultan Ahmed Bin Sulayem as saying. The expansion at Prince Rupert in Canada opened for business. DP World Limassol in Cyprus opened a new cruise terminal…
Dutch shipowner and manager JR Shipping has succeeded in involving a credit investment fund in London in the refinancing of JR Fleet Fund CV – a shipping fund which has financed eleven container feeders belonging to the shipping company’s fleet…
APM Terminals Pecém reported a 19% annual increase in container handling volumes as the gateway port to northeast Brazil. APM Terminals Pecém, which is the container operator at the Port of Pecém which is managed by the state-owned company CIPP (former Cearaportos)…
