South Korea's major shipyards are estimated to have racked up solid profit during the second quarter of the year, aided by the increased delivery of ships, cost-cutting measures and a rise in new orders, Yonhap reported citing industry sources…
Marine fuel and lubricant trading firm Glander International Bunkering has internally promoted Bunker & Lubricant Traders in its Dubai office. In the Middle East and Indian subcontinent market, Abdur Rahman, who joined the Dubai office in 2013…
Rating agency Standard & Poor’s confirmed Hapag-Lloyd’s B+ rating and took the company off its CreditWatch with future negative implications. Hapag-Lloyd was upgraded to Outlook Negative. The merger with UASC has added debt to Hapag-Lloyd’s capital structure…
Cosco Shipping Energy Transportation has entered into insurance services framework agreement with Cosco Shipping Insurance pursuant to which the latter will provide vessel-related insurance services to the Group. Cosco Shipping Insurance is a wholly-owned subsidiary of Cosco Shipping…
Swiss container line MSC (Mediterranean Shipping Company) is working with vessel-sharing partner Maersk to find ways to share data after a cyber attack on the Danish company, MSC said on Wednesday. MSC said it was prepared to divert ships away from affected Maersk terminals…
Two former and one current executive of the shipping company Wallenius Wilhelmsen Logistics AS (WWL) have been indicted on charges of fixing the prices of some international ocean shipping, the U.S. Justice Department said on Tuesday. Former…
Global maritime mobile operator Telenor Maritime said it will expand communications services for longstanding partner DFDS, deploying its connectivity platform with Premium Wi-Fi, Ka VSAT and mobile broadband backhaul for the Northern European shipping company…
GE Energy Connections (NYSE: GE) has recently delivered the full turnkey project to VLI for engineering, supply and commissioning of the port terminal Luiz Antonio Mesquita Integrator Port Terminal (Tiplam) at the port of Santos, located in the city of Santos…
DHT Holdings, Inc. said it has taken delivery of nine VLCCs acquired from the BW Group Limited, as well as the contracts for two VLCC newbuilds due for delivery in 2018. 'The delivery of the fleet acquired from BW has been conducted in a speedy and efficient manner…
Tanker and dry bulk vessel newbuild contracts have been signed at an increasing pace so far in 2017, with newbuild activity for the first half of 2017 surpassing the same period last year by 20 percent. According to BIMCO, 5.9 million DWT was contracted in May 2017 and 3…
The Indian ministry of defence (MoD) has terminated the contracts with India's ABG Shipyard, which already was out of the race for $2.6-billion four Landing Platforms Docks (LPD). This comes as another serious setback to the Shipyard after…
Australian shipbuilder Austal has won a $584.2 million contract to build a 14th Littoral Combat Ship for the US Navy, Reuters reported. The contract includes associated LCS class services and related material and integrated data environment support…
The Port of Rotterdam Authority is entering into a partnership with four start-ups for the development of as many innovative projects. Along with six other starters, these companies took part in the port-related accelerator programme PortXL…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday to snap a six-day streak of losses, boosted by higher demand for panamax and smaller vessels.The overall index, which considers rates for capesize…
Damac Properties has signed an agreement with Oman to develop a port in the country's capital city Muscat as a tourism destination, Dubai's second-largest listed developer said on Wednesday.Damac signed a memorandum of understanding with…
