Portugal’s new oceanographic survey vessel is to be donated by Norway and equipped by funding under the EEA Grants programme.The announcement was made recently by Portugal's Assunção Cristas, Minister for Agriculture, the Sea, the Environment and Land Planning…
The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS).The London market exchange has provided…
China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM.Farid Salem, CMA CGM's Executive Officer, said: 'CMA CGM is very pleased to enter a new strategic…
China's Ministry of Transportation reports that the country spent US$2.3 billion on the waterways during the period January to April 2013.This investment by the government shows an increase of 21.2 per cent over the same period in 2012.River transportation enjoys lower shipping rates…
Maersk Line has announced it will implement container General Rate Increases on its Transatlantic & Asia/US routes as follows:With effect from July 1, 2013, the Transatlantic trade between North Europe and North America will be increased by US$200 per dry container…
Nautilus Minerals Inc. announced that it has received gross proceeds of C$40 million before expenses as a result of the successful closing of its rights offering through the issuance of 200,000,000 common shares at a subscription price of C$0…
Excel Maritime Carriers, owners & operators of a large fleet of dry bulk carriers, become the latest casualty of the downturn in the shipping industry, but sets financial plans for recovery.The company says t has reached an agreement in principle…
Council has approved a resolution that may lead to the Huntington Fire Department obtaining a marine firefighting & hazardous material vessel through a Port Security grant.Huntington has the nation’s largest inland port. Following the 9/11 terrorist attacks…
Shipping company Bore Ltd. to install ClassNK-NAPA GREEN ship efficiency software aboard their 13,625 dwt Ro-Ro vessel 'M/V Bore Song'.This announcement follows on from sea trials last year aboard sister ship M/V Bore Sea which proved that NAPA operational software had led to a 5…
The Harbor Commissioner's Fiscal 2013-14 Budget Includes $399.9-million capital expenditure to improve cargo flow and dfficiency.The Los Angeles Harbor Commission has adopted a 2013-14 fiscal year (FY) budget of approximately $1.1 billion for the Port of Los Angeles…
With seasonally weak demand in the second quarter, the short-term view for freight rates does not look positive finds Drewry.Global oil demand declined by 1.0% in the first quarter of the year to 89.9 million bpd, although some recovery…
The Financial and Sustainability Reports cover the period January 1, 2012 to December 31, 2012 and together provide a summary of Port Metro Vancouver’s overall performance, as set out below:“Port Metro Vancouver is seeking ways to engage with…
The latest seabed survey of the Dogger Bank offshore wind zone takes the cost of the Forewind consortium's spend on offshore surveys to almost £45 million.Since being awarded the rights to develop Dogger Bank in January 2010, Forewind has undertaken a huge range of geotechnical…
Dry bulk trade grew by an impressive 7% in 2012 with steam coal proving to be the saviour of the freight market, which otherwise would have seen a complete bloodbath, according to Drewry's latest 'Dry Bulk Forecaster'.Steam coal trade increased…
W. P. Carey Inc., a provider of corporate sale-leaseback financing, has acquired the R&D and class-A office facilities of Cargotec Corporation in Tampere, Finland.The premises are subject to a 20-year triple-net lease with the company. The total acquisition cost of the 183…
