The Port of Virginia handled 226,000 TEUs in July, the highest amount ever recorded for that monthly period in the port''s history. The Virginia Port Authority, which operates terminals in Portsmouth, Newport News and Norfolk, reported Thursday that 225…
Rickmers Trust Management (Rickmers Maritime) suffered a loss of USD15.7 million for the second quarter ended 30 June 2015 from a profit of USD16 million in 2Q14. Rickmers Maritime recorded a net loss after tax of US$15.7 million in 2Q2015…
Pon Holdings and Parcom Capital announced they have agreed to buy Imtech Marine, the marine division of Dutch engineering services company Royal Imtech who has been declared bankrupt. No monetary figures have been shared. The final details of the takeover are yet to be worked out…
Dutch engineering services company Royal Imtech has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday. Imtech, which employs 22,000 people…
Van Oord has been awarded the dredging contract for the Kaohsiung Intercontinental Container Center Phase II in Taiwan. The client is the Port of Kaohsiung, Taiwan International Ports Corporation (TIPC). The contract value amounts to approximately EUR 130 million…
APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A. (Compas S.A.) have signed a joint venture agreement to jointly manage and operate Compas S.A.’s existing multipurpose Cartagena Terminal…
The Short-Term Energy Outlook (STEO) released on August 11 forecasts that North Sea Brent crude oil prices will average $54 per barrel (b) in 2015 and $59/b in 2016, which is $6/b and $8/b lower than projected in last month’s STEO, respectively (Figure 1)…
The merger talk between two state-run shipping conglomerates Cosco Group and China Shipping Group is on strong footing on on Beijing’s command. According to sources, the companies would release an outline plan within three months. Chinese…
India's largest domestic ship liner Great Eastern Shipping Company today reported a 45 percent jump in its consolidated net profit to Rs 323.67 crore ($50 million) for the quarter ended June 30, on the back of higher income. Sales during April-June rose 17 percent to 947 crores versus 808…
State-run Shipping Corporation of India (SCI) Ltd has reported more than three times rise in net profit for the quarter ended 30 June on account of higher earnings from running oil tankers and lower bunker (ship fuel) prices. Its June-quarter net profit is 1…
Denmark's AP Moller-Maersk, which operates the world's largest container shipping line, has revealed another huge share buy-back scheme a year after it launched its current programme. Maersk will buy back up to $1bn (DKK 6.7 billion) worth…
Cruise contract is port’s largest ever, cruise line homeports at Seattle's Pier 66 for 15 years The Port of Seattle signed a 15-year lease with Norwegian Cruise Line Holdings (NCLH) parent company of Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises…
The Panama Canal Authority (ACP) expressed its satisfaction after the main contractor for the Third Set of Locks Project, Grupo Unidos por el Canal (GUPC), and the National Union of Workers of Construction and Similar Industries (SUNTRACS)…
Egyptian President Abdel Fattah el-Sisi issued a decree establishing an economic zone for Egypt’s Suez Canal, reports Reuters. The decree establishes a 460-square-kilometer economic zone around the canal the government says will be used…
As part of the move to boost for importers and exporters of fresh produce using Scotland’s largest container terminal , the port of Grangemouth is to receive investment from its owners, Forth Ports Ltd to increase its capacity for refrigerated containers…
