Cosco Pacific is expected to submit an improved bid for the controlling stake in Piraeus Port Authority (OLP) on Wednesday that is set to be discussed at the board meeting of the Hellenic Republic Asset Development Fund (TAIPED), reports Kathimerini…
Investors suffered massive wealth erosion in 2015, as share prices of dry bulk companies kept tumbling during the year, says Drewry Maritime Equity Research (DMER). DMER’s shipping index, which is based on the market cap of leading dry bulk companies…
King Abdullah Port (KAP), the first privately developed and managed port in the Saudi Kingdom and the region, has announced the port’s success in handling 1,307,017 TEUs, says a repot in the Saudi Gazette. Engineer Abdullah bin Muhammad Hameedaddin…
Ciner Gemi Acente Isletni Sanayi Ve Ticaret S.A., a ship management company in Turkey, pleaded guilty and was sentenced in federal court in Baltimore, Maryland, for violating the Act to Prevent Pollution from Ships (APPS), announced Assistant Attorney General John C…
Daewoo Shipbuilding and Marine Engineering (DSME) launched on Friday the world’s first icebreaking liquefied natural gas (LNG) carrier at its Okpo shipyard in Geoje, South Gyeongsang. It was the first ship to be launched for Russia’s Yamal…
As a part of an ongoing portfolio restructuring exercise following booking of losses for three years in a row, Mercator Limited has decided to exit dry bulk business carried on by its arm Mercator Lines(Singapore) Ltd(MLS). Mercator has 11 bulkers in its fleet…
Shipbuilders in China will continue facing rough weather. According to a report in Bloomberg, new orders received by Chinese shipbuilders fell by nearly half last year from 2014, suggesting more consolidation is in order as the country’s appetite…
Key partners from the four year European Research Project, CORE (Consistently Optimized REsilient Secure Global Supply-Chains), part funded by the EU under the Seventh Framework program, took the opportunity to engage with stakeholders at the…
When a crew member, passenger or other maritime worker onboard a ship falls ill or is injured, the cost of treatment is difficult to predict. The quality of care in the United States is generally regarded as high, yet the cost of treatment is inconsistent from hospital to hospital…
Navig8 Product Tankers Inc., an international shipping company focused on the transportation of petroleum products, has taken delivery of one LR1 74,000 DWT product tanker, the Navig8 Expedite, from STX Offshore & Shipbuilding Co, Ltd. The…
The Port of Rotterdam reported record volumes 466.4m tonnes in 2015 boosted by increased oil trade. Goods throughput in Rotterdam increased by a total 4.9%. “Low oil prices result in high margins for the refineries, so they have large quantities of oil shipped in for refining…
In light of the current shipping downturn and to demonstrate the government’s commitment to maintain Singapore as a global hub port, MPA will grant an additional 10% concession on port dues payable by ocean going container vessels carrying out cargo works with port stay of not more than 5 days…
A.M. Best Ratings Services Ltd has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” for The Swedish Club, with the outlook for both ratings remaining stable. According to A.M. Best, the ratings…
Euronav NV (NYSE: EURN) this morning issued a release to set the record straight with investors, from its perspective, on current market conditions in the large tanker market. According to Euronav, despite the current capital market's predominantly negative sentiment…
Florida-based transportation giant CSX Corp. is planning a $272 million intermodal rail terminal in North Carolina serving the Raleigh region that it envisions as a major transportation hub to make the state’s ports more competitive. The…
