DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem has met with Senegalese President Macky Sall as part of a tour of West and North Africa to confirm development of infrastructure projects in the country. The discussions, attended…
Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing (Bocomm Leasing). As of today, three of the five transactions have been completed…
Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approx. EUR 352 million (approx. USD 414 million). The official merger of the two companies occurred on 24 May 2017…
Total annual operating costs in the shipping industry fell by an average of 1.1 percent in 2016, says international accountant and shipping consultant Moore Stephens. This compares with the 2.4 percent average fall in costs recorded for 2015…
The primary contractor for China's naval force China State Shipbuilding Corp (CSSC) is preparing a major asset reorganization involving its two subsidiaries, reported China Daily. The companies have halted stock trading on the Shanghai…
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder, announced today that it signed a $800 Million worth contract to build ten 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping, the domestic dry bulk owner and operator…
Golden Ocean Group has announced that it has entered into agreements to sell six Ultramax vessels built at Chengxi between 2015 and 2017 en bloc for USD 142.5 million to an unrelated third party. The net cash proceeds from the sale after the repayment of $39…
After successfully completing its initial public offer (IPO) recently, India's Cochin Shipyard Ltd (CSL) has lined up expansion projects. The IPO's proceeds will be utilised to fund these expansions. The PTI reported that CSL is now setting…
Honolulu-based Hawaii Stevedores, Inc. has received confirmation from Hawaii State Department of Transportation (HDOT) that, together with the state, Hawaii Stevedores will continue the joint development of the Kapalama Container Terminal (KCT)…
With the slogan “More EU budget for transport, the best investment plan for Europe” a coalition of thirty European transport organisations are launching today their campaign for a strong connecting Europe Facility for the next financial period 2021-2028…
Port of Portland said it will receive $1.25 million from the federal Port Security Grant Program to upgrade marine terminal security systems. Through the Area Maritime Security Committee, the port successfully applied for and received the…
Norway’s IMS group AS announced it has signed a purchase agreement with the OceanSaver Trustee to acquire the ballast water treatment system manufacturer’s intellectual property, certificates and assets following its bankruptcy filed on September 13…
Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a sixth consecutive session, helped by stronger rates for capesize and smaller vessels.The overall index, which factors in rates for capesize…
Seabury Capital LLC has appointed David M. Turnbull as a Senior Advisor. Turnbull will serve to facilitate Seabury Capital’s expansion of its global product and advisory service offerings in specialty finance, investment banking, technology and software applications…
Sweden’s Minister for EU Affairs and Trade to Seoul, Anne Linde, and a high level Swedish business delegation, including Seth Ryding, Head of APAC at Telenor Connexion, are invited as key partners for the Next generation transportation in Smart Cities summit in Seoul on September 20-21…
