Greek shipping heir Paris Kassidokostas-Latsis along with with two leading global investors formed a joint venture vehicle, Ivy Shipping LLC, with the primary purpose to invest in Supramax and Panamax dry bulk carriers. As a first investment move…
Steel construction company REIDsteel has completed its phase of works on landmark passenger facilities as part of a £45 million ($59 million) ferry terminal revamp in Portsmouth, U.K. The 130-strong firm was contracted for the project at…
Australia has fined and convicted Japanese shipping firm Nippon Yusen Kabushiki Kaisha (NYK) for operating as a cartel in relation to the transport of vehicles into the country, its competition regulator said on Thursday. The charges relate…
Citing declining vessel values and 'volatile industry conditions,' FSL Trust Management Pte. Ltd., as trustee-manager of First Ship Lease Trust, announced the Trust has taken an impairment charge of $24.1 million on eight vessels, and consequently a net loss of $21…
Qatar Navigation (Milaha) reported an 85 percent fall in second-quarter net profit, reports Reuters. Second-quarter net profit stood at 30.8 million riyals ($8.5 million) in the three months ending June 30, versus 201.4 million riyals a year earlier…
SUNY Maritime College’s Stephen B. Luce Library has been awarded $50,000 from the National Park Service and the U.S. Maritime Administration (MARAD) to continue efforts to digitize records documenting the history of Sailors’ Snug Harbor on Staten Island…
World trade is growing again which will give a big boost to middle distillates such as diesel used in the high-power engines that move almost all freight.World trade volumes grew by 5 percent in the three months to May compared with the same period a year earlier…
CEO: freight forwarding industry undergoing transformation; plays down threat from new entrants. Danish freight forwarder DSV will invest more to meet rising demand for services such as e-commerce and address competition from new players including Amazon…
Azerbaijan's oil shipments via Russia jumped to 818,664 tonnes in January-July this year from 559,065 tonnes in the same period last year, state oil company SOCAR said on Tuesday.The increase was partly because SOCAR shipped no oil via the…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the second straight day on Tuesday, supported by higher demand for capesize vessels.The overall index, which factors in rates for capesize…
Japan’s big three shippers -Mitsui OSK Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK) and Kawasaki Kisen Kaisha (K Line) - have reported profits for the first quarter, bouncing back from losses a year earlier Reuters reported. Thanks to rising freight rates…
New Orleans-based Tidewater Inc and its affiliated chapter 11 debtors have emerged from bankruptcy after successfully completing its reorganization pursuant to the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater…
The outlook for global container port demand growth is now more optimistic, and Chinese players are on the acquisition trail in an aggressive and highly confident manner, said a report from Drewry. Major M&A deals are changing the landscape…
BW LPG Limited and Global United Shipping India Private Limited, have agreed to establish a joint venture in India in which the parties will own 50% each. The purpose of the new joint venture, named BW Global United LPG India Private Limited…
Sri Lanka’s government on Saturday signed a long-delayed agreement to sell a 70% stake in a USD 1.5-billion port to China in a bid to recover from the heavy burden of repaying a Chinese loan obtained to build the facility, report local media…
