French-based CMA CGM, the world's third-largest container shipping firm, said on Monday it expects its volume growth to outperform the market again in 2016 after strong expansion last year helped it cushion a slide in freight rates. CMA CGM…
Orient Overseas (International) Ltd recorded an almost 5% increase in profit for the full year 2015, despite the weakness in the container shipping market, thanks in part to yield and cost management efforts. Though the year started well for the Hong Kong corporate…
Finance Ministry Arun Jaitley in Union Budget for financial 2016-17 (Apr-Mar) has announced imposition of 14% service tax on services provided by domestic shipping companies transporting goods from outside India. “The service tax on services…
The Opposition Leader Matthew Guy says that critical laws to maximise the value of the lease of the Port of Melbourne are set to finally pass the state parliament this week, reports The Age. The Coalition has used their numbers in the upper…
The Chinese ship recyclers are feeling the heat as falling scrap steel prices have eaten into their revenues during the past one year, says a report in China Daily. The increasing costs of adopting 'greener' vessel-breaking method also adds to the woes…
The U.S. Coast Guard’s “number one priority is the offshore patrol cutter,” the service’s commandant told the House Appropriations Homeland Security Subcommittee Thursday, reports U.S. Naval Institute. The service will be looking again at its force-mix analysis…
Malaysia’s Bumi Armada Bhd intends to fully enforce its rights, including initiating legal proceedings against Woodside Energy Julimar Pty Ltd for purportedly terminating its charter contract of the Armada Claire Floating Production Storage and Offloading (FPSO) unit…
Hawaii charities received $1.2 million, Pacific Islands $500,000 mainland $400,000 Funded by the businesses of container shipper Matson, Inc., the Matson Foundation last year provided more than $2 million in cash and in-kind donations to…
The Shipping Corporation of India’s (SCI) Worldwide Agents' Meet 2016 held on March 2nd, 2016 drew 88 agents from across the world to participate in the Meet. There were representatives from Far East, Indian Subcontinent, Persian Gulf, Western Europe…
Royal HaskoningDHV has appointed new Corporate Directors for Human Resource Management and Corporate Strategy. Cindy Meervis (40), joining from AkzoNobel, will further develop the global HR strategy in support of building a performance and client driven culture…
According to Reuters, Croatia may decide to construct a floating LNG (FLNG) vessel for the northern Adriatic – as opposed to an onshore liquefaction plant – in order to begin operations sooner. At the moment, it is unclear what would become…
Seatronics, an Acteon company, and part of its survey, monitoring and data business segment, has appointed Kevin Strachan as head of finance.The new role will require Strachan to lead the finance function in each of Seatronics’ global bases and divisions…
The chief executive of Frontline, one of the world's largest independent tanker firms, said it is likely to take another two or three months until insurance for cargoes carrying oil from Iran is secured, according to a report in Tasnim. 'We have not lifted anything yet…
Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015. The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue of $243…
The Athens, Greece-based global shipping company specializing in the ownership of containerships Diana Containerships Inc. has reported a loss of $8.8 million in its fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014…
