While Cosco’s orderbook of US$8 billion seems hefty, the shipbuilding contracts are of low value, says a report in SBR. The orderbook may do the company more harm than good. As at 31 December 2015, Cosco’s order book stood at USD 8 billion with progressive deliveries up to early 2018…
San Francisco, California-based CAI International Inc. (CAI) has reported a fourth-quarter loss of $12.6 million, compared to the profit in the same period a year earlier. CAI aid it had a loss of 62 cents on a per-share basis. Earnings…
Japan has urged Australia to award a contract to build its new $50-billion submarine fleet, reports SMH. Japan, which is offering a variant of its 4,000 ton Soryu submarine, is competing against rival bids from Germany and France for the contract…
Dubai-headquartered tanker owner Gulf Navigation's (GulfNav) annual profit doubled in 2015, thanks to improving tanker rates and rising revenues from its shipping services unit, even as concerns remain over its liabilities and debt obligations…
COSCO Corporation (Singapore) Limited has posted net losses of S$570 million for FY2015, compared with the earnings of S$20.9 million in FY2014. The company is hurt by writedown of inventory and possible non-payment by some of its customers…
Shreyas Shipping & Logistics Ltd reported weak set of earnings in its third quarter earnings on Friday. Net profit fell a staggering 88 percent to Rs 2.77 crore year-on-year (YoY) and EBITDA margins dipped 17.4 percentage points to 6.4 percent (YoY)…
APM Terminals Mumbai became the first Indian container terminal to go paperless by providing shipping lines electronically with the required Export Form 13 for export containers entering the terminal by truck. Building upon the success of the Export e-Form 13…
DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations. The company is seeking to invest in expansion of brownfield terminals…
San Donato Milanese (Milan), February 10, 2016 – Saipem S.p.A., informs that today Moody’s, through the publication of a press release on its website [www.moodys.com] given below has communicated that it has placed under review the provisional issuer rating of '(P) Baa3 ' attributed to Saipem…
Maersk Line posted a steep decline in profit last year to $1.3bn, well down from the 2014 result of $2.3bn and below its most recent forecast as freight rate declines accelerated in the latter stages of 2015. The net profit of Maersk Group in 2015 amounted to 0…
In a video interview Group CEO of AP Møller-Maersk Nils S. Andersen comments on the 2015 full year result, low oil and freight rates, and the challenges and opportunities for the Maersk Group in these difficult markets. He has warned that…
2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO. The six new VLCCs were delivered in a strong winter market…
Waterways Council, Inc. (WCI) reacted to the FY 2017 budget request made by President Obama earlier today, as detailed below. The Budget • proposes $4.620 billion for the U.S. Army Corps of Engineers’ Civil Works program, a 29.8% cut from the $5…
Dan-Bunkering (Middle East) DMCC has announced that Adil Qayyum started as Bunker Trader in the office in Dubai on November 16, 2015. Qayyum is 28 years old and originates from Pakistan but grew up in the U.K. where he also took an MSc in banking and finance.
Frontica has signed a five year contract with Aker Solutions to deliver staffing services, IT services and consultancy projects as well as business support services within HR, finance and procurement. Under the terms of the contract, Frontica…
