CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist.CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29…
The Nigerian Maritime Administration and Safety Agency (NIMASA) on Sunday said it had commenced clampdown on vessels that do not comply with the provisions of the Cabotage Compliance Strategy introduced last year to ease the implementation of the Cabotage Act 2003 in Nigeria…
Royal Boskalis Westminster N.V. (Boskalis) has signed an agreement with SAAM S.A. (SAAM) relating to the sale and purchase of the equity stake held by Boskalis in SAAM SMIT Towage. Under the terms of the agreement, the total (100%) enterprise value of SAAM SMIT Towage is valued at $560 million…
Input sought on proposed work to enhance navigation.The public is invited to a meeting Wednesday evening for the “Port of Long Beach Deep Draft Navigation Feasibility Study and Channel Deepening Project,” a joint effort between the Port of Long Beach and the U…
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into…
Wage theft aboard a BlueScope chartered foreign-flagged ship in Port Kembla has been exposed after intervention from the International Transport Workers’ Federation (ITF).Inspections by ITF inspectors in Western Port and Port Kembla of the Panamanian registered vessel KEN EI…
German port operator Hamburger Hafen und Logistik AG (HHLA) increased its Group revenue by 3 percent to EUR 1.29 billion in the 2018 financial year (previous year: EUR 1.25 billion). The Group’s operating result (EBIT) of EUR 204 million (previous…
The Statement of U.S. Secretary of Transportation Elaine L. Chao issued the following statement regarding the President’s State of the Union Address. “Tonight the President issued a bipartisan call to repair and restore America’s aging infrastructure…
DP World reported a fall of 4.6 percent in fourth-quarter shipping container volumes in Dubai that the government-controlled port operator blamed on a drop in low-margin business.Dubai's Jebel Ali, the largest transshipment port in the United Arab Emirates…
Bahri reported a revenue growth of 24.2 percent for the quarter ending December 31, 2018. Total revenues grew to $475 million compared to $381 million during the same period in 2017.For Q4 2018, Bahri registered a net profit of $24.3 million…
Oman’s Ambassador to Tehran Saud bin Ahmad Khalid al-Barwani said that his country’s state and private sectors are keen on investing in Iran’s Southeastern port of Chabahar.Chabahar is the best center for telecommunications, economic and trade…
German-based container shipping line Hapag-Lloyd AG has decided to partially redeem EUR 170 million of its senior note on 11 February 2019 and prior to its maturity 2022 at a fixed redemption price of 103.375 percent.According to a press release from the transportation company…
U.S. President Donald Trump said on Thursday he thinks the United States will be able to strike a deal with China, as Chinese Vice Premier Liu He visits Washington for trade talks in a bid to ease tensions between the two economies.Reporting by Steve Holland
Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year…
The Swedish Club has reported that on January 23, 2019, S&P Global Ratings raised its insurer financial strength and issuer credit ratings on The Swedish Club to A- with stable outlook.S&P reported that through disciplined underwriting and strong…
