Danish shipping and offshore energy conglomerate, Maersk Group, kept a reduced forecast made two weeks ago for a 2015 underlying profit of $3.4bn, down from the $4.0bn previously expected. The Danish shipping giant said on Friday that…
Nils Smedegaard Andersen, chief executive officer at A.P. Moeller-Maersk qoted by Bloomberg as saying: 'We believe that global growth is slowing down. Trade is currently significantly weaker than it normally would be under the growth forecasts…
Neptune Orient Lines Ltd (NOL) has officially confirmed that it is a takeover target of two separate companies: French shipping company CMA CGM and Danish conglomerate AP Moeller-Maersk. As per a report in the Business Times, NOL said…
Shipping giant MISC Bhd and oil and gas services provider Bumi Armada Bhd are said to be in merger talk involving the consolidation of the floating production storage offshore (FPSO) businesses of both companies, say local media reports. Petroliam Nasional Bhd (Petronas) owns 62…
Directors of the 175 million GT, ‘A’ rated North P&I Club have set a general premium increase of 2.5 percent for both protection and indemnity (P&I) cover and freight demurrage and defence (FD&D) cover in the 2016/17 policy year. According to the club…
Moore Stephens’ annual survey, which indicates the direction of ship operating costs, suggests that crew wages, repairs and maintenance, along with drydocking are the costs that are most likely to increase most significantly this year and next…
Leaders from Qingdao Port Group met with APM Terminals executives in The Hague to sign a Memorandum of Understanding (MOU) for the APM Terminals Vado, Italy port project. Terms and investment amount were not disclosed. The MOU will create…
Swiss Shipping Line and Africa Car Carrier announce the starting up of their joint venture company under the name 'Blue Alliance Shipping.' Blue Alliance Shipping pools resources and many years of experience of the founding companies which combine their activities in the US-East Coast…
IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016 and 2020…
Dockworkers in the Portuguese ports of Lisbon, Setubal and Figueira da Foz will go on a 10-day strike starting Nov. 14 to protest at a potential end of collective bargaining agreements, the stevedores union said in a statement.The ports to be affected by the strike are the third…
Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick. 'Given the continued overcapacity headwinds and easing containerized trade demand…
Global Ship Lease (GSL) has reported negative result for the third quarter of the year mainly due to impairment charges related to two vessels. Company reported revenue of $42.18 million. The estimated revenue was of $39.92 million. Earnings per share were $0…
International engineering and project management consultancy firm Royal HaskoningDHV is leading a multi-disciplinary team in developing a sustainable coastal protection strategy to reduce flood risks for the cities of Tacloban and adjacent Palo in the Philippines…
Maersk Line, the world's largest container shipping company, said on Wednesday it will slash costs, cut staff by almost a fifth and pull out of vessel orders as trade along the busiest routes in the world, from Asia to Europe, slows down. The business…
GMS is proud to announce that Ms. Jasvinder Virdi has joined the company to further develop its growth within the industry.Jasvinder comes with a wealth of determination and enthusiasm, as well as experience of working within the shipping industry…
