Seaspan Corporation, a large owner of containerships that charters vessels to liner companies, improved its revenue as well as net result in the first nine months of 2015, a development mainly attributed to new ships delivered this year, notes management…
Hapag-Lloyd AG, the German container shipping company, has succeeded in completing its initial public offering (IPO), after a hard campaign in which the outcome sometimes looked in doubt. It has set the final offer price for its shares at €20 ($21…
The Renewables Consulting Group (RCG) announced the addition of Dan Pearson as a Director and head of the firm’s private equity and financial services practice. In his new role, Pearson will advise developers, technology companies, private equity…
A ship management company has pleaded guilty and was sentenced October 27, 2015 for deliberately concealing pollution discharges from the ship directly into the sea and for falsifying its oil record book, announced U.S. Attorney Kenneth Magidson along with Rear Admiral David R…
Ardmore Shipping Corporation announced that GA Holdings LLC intends to offer for sale in an underwritten public offering 4,000,000 shares of the Company's common stock. The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 600…
The German lender Commerzbank is making money in tough market as it sheds another $1.2bn of ship loans. For the first time ever, Commerzbank's shipping portfolio stands at less than EUR 10 billion, according to the third quarter interim report…
COSCO Corp (Singapore) will refund $26.3 million, or 5 percent of the contract price, plus associated interest to Sevan Drilling by December 1, 2015. Sevan Drilling and Cosco have agreed to exercise the first six-month option to extend the deferral agreement to April 15…
The shares of German container line Hapag-Lloyd will now be offered at between 20 and 22 euros ($22-$24.20) each, down from 23-29 euros previously, reports Reuters. Its initial public offering on the stock exchanges in Hamburg and Frankfurt set to commence on November 6…
UPS announced plans to construct a new 32,000-square-meter package sorting and delivery facility at the DP World London Gateway logistics site in the south east of England. At close to $184 million, this project constitutes one of UPS’s largest…
Mr Tan will provide the opening keynote address for the World Ocean Council’s Sustainable Ocean Summit, (SOS), 9-11 November 2015.MPA Chief Executive Mr Andrew Tan stated, “Singapore is honoured to host the first Sustainable Ocean Summit to be held in Asia…
Dubai-based Gulf Navigation Holding (Gulfnav), a leading maritime and shipping company, has reported a substantial 123 per cent profit growth at the end of the third quarter of 2015 compared to the same period the previous year. The company…
Striking Southern California port truckers who accuse shipping companies of wage theft took their grievances on Friday to City Hall in Los Angeles, where they gained new political backing for their cause.The City Council voted unanimously…
Transport Minister Robert Goodwill MP has taken part in a round table discussion with transport leaders from the ports, road, rail freight and shipping industry at the Port of Felixstowe, the Port of Britain. Mr Goodwill’s responsibilities…
Senior executives from Italy’s La Spezia Container Terminal - Contship Italia Group, wrapped up a whirlwind tour of key supply chain hubs in South East Asia and China this week with a presentation and networking event in Shanghai. The…
Vessel operating costs are expected to rise in both 2015 and 2016, according to the latest survey by international accountant and shipping consultant Moore Stephens, which found cost categories likely to increase most significantly include crew wages…
