Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing's claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway. A tribunal in The Hague…
Moody's Investors Service confirmed the ratings of Teekay Corporation ('Teekay', or 'Parent'): Corporate Family Rating ('CFR') at B3 and senior unsecured debt rating at Caa1. Concurrently, Moody's upgraded the Speculative Grade Liquidity rating to SGL-3 (adequate)…
India’s position to 35th rank in the latest bi-annual World Bank Logistics Performance Index (LPI) report will open many corridors of opportunities as industry will witness swift growth in international as well as inter-state freights, an effect…
With the strong commitment to provide seamless services to the customers as India’s prime facilitator of international trade, Jawaharlal Nehru Port Trust (JNPT), in the last one year, has focussed on ‘Ease of Doing Business’ says a report in the Hindu…
Paragon Shipping Inc is at cyclical lows, as the entire drybulk shipping sector has suffered and, along with the container and LNG sectors. Michael Bodouroglou, Founder, Chairman and Chief Executive Officer of Paragon Shipping Inc. has…
Claims for shortage of bulk cargoes have become common in some Vietnamese ports and can lead to the arrest of the vessel by the receivers, says Gard Alert. Two of the ports frequently involved are Phu My (Cai Mep) in the south and Cai Lan in the north…
Britain’s decision to leave the EU will not by itself deal a body blow to shipping markets, but its implications create significant downside risks The U.K. Brexit vote will have far-reaching effects on the container shipping market, despite the country’s relatively minor role in global trades…
India’s biggest player in liquefied natural gas (LNG) Petronet LNG Ltd has plans to establish a 5 million tonne LNG terminal in Bangladesh and 1million-tonne terminal in Sri Lanka. The Bangladesh terminal is in addition to 3.5 mt terminal…
Genting Hong Kong Ltd will invest 100 million euros in its German shipyard, MV Werften to focus on building new large ships. The three shipyards in the German State of Mecklenburg-Vorpommern bought this April would be named MV Werften, be managed in Wismar…
Malaysian shipyard TH Heavy Engineering (THHE) has been served with three winding-up petitions over an alleged debt of around $9.52million in total, for the supply of equipment and work done on the Layang floating, production, storage and offloading (FPSO) vessel…
It was another lacklustre month for the shipping industry as freight rates in almost all sectors softened further. Drewry’s Earnings Index declined by 0.5% during the month to 52.4. The new locks of the Panama Canal finally became operational in June…
Dutch offshore engineer Boskalis said it was cutting 650 jobs worldwide and culling 24 vessels in response to what it called drastic changes in the company's outlook caused by low energy and commodity prices. The job cuts, including 150 Dutch employees…
Keppel Corp Ltd has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore, says a report in Reuters. The two companies will have a 50 percent stake each in the joint venture…
EU antitrust regulators accepted on Thursday an offer from Maersk, the world's largest container shipping liner, and 13 other competitors to change their pricing practices. The companies agreed to publish binding actual rates 31 days before they go into effect…
The Georgia Ports Authority has received a $44 million Fixing America's Surface Transportation (FAST) grant from the U.S. Department of Transportation to increase rail capacity at the Port of Savannah. 'I would like to thank the Georgia Congressional delegation…
