A $513.6 million operating budget for fiscal year 2020 has been approved at the Port of Oakland. The Port’s governing Board OK'd the spending plan at a meeting yesterday.The new budget is up about 4 percent from the one adopted for fiscal year 2019…
Exmar Netherlands, a fully owned subsidiary of Belgium’s Exmar and a manager of specialized floating assets, has completed the bond repayment issued in 2014, extended in July 2017 and maturing in July 2019.According to a press note from the Nicolas Saverys-led shipowner…
Risk appetite returned to world markets on Thursday following a media report the United States and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations' leaders in Tokyo.The South China Morning Post (SCMP)…
The United States 'is not looking for victory' with China over trade but wants 'a sensible deal that addresses the legitimate issues that we have,' U.S. Commerce Secretary Wilbur Ross said on Wednesday.'There are some inappropriate activities underway by the Chinese…
Senior Chinese and U.S. trade officials spoke by telephone on Monday ahead of talks between Chinese President Xi Jinping and U.S. President Donald Trump set for later this week, as the world's two largest economies remain locked in a tariff war…
RigNet, Inc. announced that it has reached a settlement with Inmarsat Global Limited that concludes the GX Arbitration pending before the International Center for Dispute Resolution. Pursuant to the settlement, RigNet will pay Inmarsat $45 million immediately…
Fitch Ratings has assigned a 'AA' rating to the Massachusetts Port Authority's (Massport) approximately $460 million series 2019-B and C senior lien revenue bonds. The Rating Outlook is Stable. Key Rating DriversThe 'AA' revenue bond rating…
Port of Oakland Executive Director Chris Lytle is sounding an alarm over the trade war with China. The veteran maritime leader this week warned that tariffs imposed by both sides threaten the U.S. economy. He added that trade barriers could dry up his customers’ access to a major export market…
NewbuildingSince the beginning of the year, 100 newbuild orders have been placed across the tanker sector. This is a considerable amount lower than the same period last year, when 140 vessels were placed. It is no surprise to see the Greeks…
The UAE Shipping Association (UAESA) was founded 12 years ago. But Tahir Lakhani, UAESA Vice-Chairman, indicates that in that time the UAE has been much more conducive to foreign companies than domestic ones, owing to a lack of options for ship finance…
A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans, executives said on Tuesday.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U…
German container shipping major Hapag-Lloyd AG has decided to fully redeem the outstanding EUR 280 million in aggregate principal amount of its outstanding 6.75 percent senior note due 2022 on 24 June 2019 at a fixed redemption price of 103…
A new report from the Massachusetts Port Authority (Massport) shows the Port of Boston contributed $8.2 billion in economic activity in 2018, up from $4.6 billion in 2012.Smart investments and partnerships have led to growth in jobs, business revenues…
ShipMoney extended its Maritime Payment Services Agreement with Helikon Shipping into a long-term multi-year relationship.Helikon has used ShipMoney to pay wages to crew members onboard under its agency for the last several years and they have…
China's commerce ministry on Tuesday urged dialogue and negotiation to solve trade differences with the United States.It is common to make revisions, suggestions and adjustments in trade negotiations, it said in a statement in response to U…
