Athens-based Star Bulk Carriers Corp has determined to effect a 1-for-5 reverse stock split of the Company's common shares. The Company's shareholders approved the reverse stock split and granted the Board the authority to determine the…
A new study says revenues generated by levy on nitrogen oxide (NOx) emissions for shippingcould be used to fund the uptake of NOx abatement measures. Transport & Environment (T&E) study said the results of a new study show that the revenues…
The NYK Group has been selected by Japan's Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) as a “Competitive IT Strategy Company” for 2016. NYK is the first company in the maritime industry to receive this award…
Nordic American Tankers Ltd. (NYSE:NAT) entered into a 30 months charter contract with a subsidiary of ExxonMobil (EM) for one of the NAT suezmaxes. The firm period is 18 months with an option of further 12 months. The gross revenue from the contract of 30 months is about $25 million…
The SOLAS Container Weight Verification Requirement Verified Gross Mass (VGM) - System readiness by UASC. United Arab Shipping Company (UASC) announced that the following e-channels will be ready for receiving and processing the VGM information on/after 18 June…
Experts believe the dry bulk market is positioned to become profitable by 2019 – but only if a series of sustained measures are taken year on year by the ship owning community as a whole, according to a report recently published by BIMCO. Peter Sand…
The offshore supply ship, MV Malaviya Seven detained, at the Port of Aberdeen, UK, by the International Transport Federation [ITF] with the support of the Port State Control, MCA – was operating under what the shipping union, RMT, has described as a ‘blatant example of modern day slavery’…
The Meyer family is building ships since 221 years. Ever since, the family company’s success relied on a long-term approach that aimed to develop the technology, advance the skill-set of employees, and reinvest profits. The basis for this success is a stable ownership structure…
London International Shipping Week (LISW) is proud to announce Inmarsat Global Ltd as Lead Diamond Sponsor for LISW 2017. Inmarsat is a British satellite telecommunications company which provides mobile communication services to the maritime industry worldwide…
The dry bulk shipping industry may not emerge from a protracted downturn for another two years and some smaller firms will be squeezed out, the chairman of France's Louis Dreyfus Armateurs said on Tuesday. The dry bulk sector that transports…
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates…
The Korean government has said that it will consider merging ailing Hyundai Merchant Marine (HMM) and Hanjin Shipping should they successfully normalize their management, according to The Korea Times. 'Once the normalization program for the two shipping companies is wrapped up…
The grandson of Maersk Mc-Kinney Moller, who transformed A.P. Moller-Maersk into an international conglomerate, was on Monday appointed chief executive of the holding company behind the Danish shipping giant.The move sends a signal that…
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates…
The buy-out of the Greece's Piraeus Port by Chinese shipping giant COSCO is closer to completion, as shareholders approved a new concession agreement, reports Reuters. Greece had already agreed in April to sell a 67 percent stake in Piraeus to COSCO for $415…
