India is set to double its ports capacity to 3000 million tonnes (MT) by 2025, the Shipping Minister Nitin Gadkari said. The capacity of ports stood at 1,500 MT in 2015. He also said that an investment of Rs 60,000 crore will be made in the port sector by May 26 this year…
The recommended International Labor Organization (ILO) Minimum Wage for Able Seafarers will remain at its current level of $ 614 basic pay per month until at least 2018.This follows an ILO Joint Maritime Commission (JMC) meeting held in Geneva last week…
SAAM, multinational company that provides port, towage and logistics services in 15 countries in Latin America, held this morning a Shareholders’ Meeting, where it reported on the positive results of the 2015 exercise and the perspectives for 2016…
India’s major ports controlled by the union government recorded a 4.3% year-over-year increase in container throughput in fiscal year ended March 31, 2016, says a report in the Times of India. The irony is that while ports handled by the private sector witnessed a slowdown in shipments…
Greece has formally signed an agreement to sell a 67% stake in the Port of Piraeus to Chinese shipping company China Cosco Holding Co. Under the deal, COSCO, the fourth-largest container shipping firm and second-largest port operator in the world…
The world’s biggest maker of shipping containers China International Marine Containers Group Co. (CIMC) plans to raise 6 billion yuan ($928 million) selling shares to fund an expansion of a business park in Shenzhen and other assets, reports Bloomberg…
U.S. Transportation Secretary Anthony Foxx has designated three new Marine Highway Projects.The Mississippi River, previously designated as the M-55, will serve as the primary route for the Baton Rouge-New Orleans Shuttle project. Sponsored…
Survey Shows U.S. Ports Plan Big Investments In Capital Projects. Anticipated federal under-investment in port-related infrastructure could dampen job and economic prospectsIn its just-released 2016-2020 Port Planned Infrastructure Investment Survey…
Ministry of Shipping, Government of India has extended its non-financial support to Mumbai and Nhava Sheva Ship Agents Association for its proposed conference on `Ease of doing business’ on Friday, May 6 at the Hotel St. Regis, Mumbai.This was confirmed by a Senior Officer…
EUROGATE can look back on a good financial year, 2015. Despite difficult market conditions the European terminal operators Group increased its net profit by 13.4 percent to EUR 73.5 million (prior year EUR 64.9 million). Container handling at…
The Taiwanese carrier Wan Hai takes the plaudits with carriers' operating profit margins according to Alphaliner’s survey of the 16 main carriers that published full year financial results for 2015. The report shows that, Wan Hai is the most profitable container line…
Navig8 Chemical Tankers has signed sale and leaseback agreements with China's Bank of Communications Financial Leasing (BCFL) for a quartet of medium range tankers. The for four 49,000 DWT Interline coated medium range tankers being built at STX Offshore & Shipbuilding Co…
The U.S. Navy has awarded Cape Henry Associates, along with five other companies, a curriculum analysis and planning services task order contract worth a projected $154 million over a six-year total ordering period. The contract will support…
Well management and performance improvement specialist Exceed has bolstered its decommissioning credentials through a strategic alliance with international oil and gas service company, Weatherford. The collaboration will offer an end-to-end solution for well decommissioning…
Jotun has analysed the first ever five year dry-docking of a vessel treated with its Hull Performance Solutions (HPS) system. The data revealed that Gearbulk’s Penguin Arrow, coated with Jotun’s SeaQuantum X200 in September 2010, recorded a…
