2016 ended for Wilh. Wilhelmsen with an improvement in transported volumes, which had a positive effect on total income for the fourth quarter. Adjusted for non-recurring items, WWASA also recorded an uplift in operating profit. Rate pressure continues…
Kongsberg Maritime’s training division has introduced a new virtual classroom solution to help customers reduce the time and cost investment of training on a wide range of disciplines. Designed for the pre-course preparation phase, Kongsberg…
Xeneta, an ocean freight benchmarking and market intelligence software platform, has raised $12 million in a Series B investment round led by London-based Smedvig Capital. Existing investors including Creandum and Alliance Venture also participated in the round…
The International Bunker Industry Association (IBIA) has introduced its new Chief Executive, Justin Murphy, who akes up his new position from February 13, 2017.From 2013 to 2015, Murphy was CEO of Brightoil Shipping, Singapore and Executive…
Korea Development Bank, the main creditor of the dissolved Hanjin Shipping Co. and state-owned entity, has put 10 Hanjin vessels up for sale in order to source back elements of its extended loans, reports Yonhap. According to the sources…
Today the Georgia Ports Authority announced the sale of 500 acres of property for commercial development to accommodate growing customer demand for warehousing, distribution and transload facilities near the Port of Savannah. The new development…
South Korea's largest deep sea carrier Hyundai Merchant Marine expects to post losses through the first half of next year due to poor market conditions, reports Bloomberg quoting its CEO Yoo Chang-keun. “This year will be the year to strengthen our financials…
BP's oil trading business, one of the biggest in the sector, reported a rare loss in the fourth quarter after it lost a $70 million lawsuit over an oil cargo delivered to a Moroccan refinery. BP's Chief Financial Officer Brian Gilvary said…
Middle East and Asian port agencies Sharaf Shipping Agency and Ben Line Agencies have today (7 February 2017) announced the launch of a new global agency company for the wet and dry bulk shipping and commodity markets. Waterfront Maritime Services…
The cargo handled by 12 major Indian ports in November and December (Post demonetisation period)has witnessed a significant growth by registering an increase of 11.2 per cent and 12.7 per cent, respectively, reports PTI. The Minister of State for Shipping Mansukh L…
Scorpio Bulkers has its loss narrowed to $124.8 million, or $2.22 per share for the year ended December 31, 2016, compared with a net loss of $510.7 million seen in the same period a year earlier. However, it reported a loss of $20.6 million in its fourth quarter of 2016 ended December 31…
The Seoul Central District Court Thursday decided to end the bankruptcy protection of Hanjin Shipping Co. Ltd (Hanjin Shipping), leaving the company to succumb to a declaration of bankruptcy later this month, Yonhap reported. Hanjin, once…
A Port of Oakland executive outlined a $600 million spending plan here today for growth at his West Coast trade gateway. Maritime Director John Driscoll told a maritime audience that Oakland would increase trade volume by investing in new facilities and better infrastructure…
Germany's Uniper has hired Goldman Sachs to sell its stake in a liquefied natural gas (LNG) terminal in Italy, a deal that could value the whole business at 1 billion euros ($1.1 billion), three people familiar with the deal told Reuters.Books…
Shipbuilding group MV WERFTEN said it has appointed Richard Gruenhagen as Managing Director of Finance and Administration to reinforce the group's Management Board as new CFO effective February 1. Gruenhagen graduated from Indiana University…
