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…
The European Investment Bank is providing EUR 155 million to finance two new passenger and vehicle ships for the Irish Continental Group (ICG) subsidiary Irish Ferries.The two ferries will increase passenger and cargo capacity on routes to Ireland…
Oman Shipping Company (OSC) is expanding courtesy of an order for a pair of newbuild Very Large Crude Carriers (VLCC ) with Daewoo Shipbuilding & Marine Engineering (DSME).According to Michael Jorgensen, OSC's CFO and acting CEO, said the VLCCs are expected to be deployed in the spot market…
Associated British Ports Holdings (ABP), which owns and operates 21 ports in the United Kingdom, has announced a GBP 2.2 million investment in a new state-of-the-art warehouse at the Port of Ayr which will improve its customer offering.According to a press release from the port company…
The Port of Rotterdam Authority has launched a new financial scheme, Incentive Scheme Climate-Friendly Shipping, supporting projects intended to reduce the shipping sector’s CO2 emissions.The Port of Rotterdam Authority has made five million euros available to this end…
Europe’s largest petrochemicals company Ineos has chosen the Port of Antwerp as the location for a mega-investment of three billion euros ($3.4 billion).The British chemical company's investment will be the biggest in the European chemical industry in two decades…
Diana Containerships (NASDAQ: DCIX), a shipping company specializing in the ownership of containerships, announced that it has received written notification from The Nasdaq Stock Market LLC dated January 10, 2019, indicating that because the…
Egypt's Suez Canal revenues fell to $461.5 million in November, down around 8.8 percent from October's $506.1 million, data from the cabinet's website showed on Tuesday.The canal is the fastest shipping route between Europe and Asia and one of the government's main sources of foreign currency…
The shipping industry’s supply-demand balance will benefit from a reduced appetite for Ultra Large Container Vessels (ULCVs) among the major carriers, some of which now have their eyes fixed on a bigger prize of becoming global logistics integrators…
The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha has said that the Federal Government has successfully worked hard through the Nigerian Maritime Administration and Safety Agency (NIMASA) to reposition the Nigerian maritime industry for the nation’s economic growth…
Two Chinese shipbuilding companies have expressed intent to invest in the largest Philippine shipyard, debt-riddled Hanjin Heavy Industries and Construction Philippines, the Department of Trade Industry (DTI) said.Drowning in debt, the Philippine business of the Hanjin Group of South Korea…
Finish forest company UPM is taking part in the international public tendering process in the port of Montevideo organized by the National Ports Administration (ANP) of Uruguay.The scope of the concession tender is the building and operation…
Rear Adm. Wendi B. Carpenter has been named the Executive Director of the Captain Phillips and Lane Kirkland Maritime Trust.She has served as a Board Member of the Trust since shortly after its inception and has been closely involved with its administrative set up…
The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20 percent from the prior year as the trade war between Beijing and Washington heated up.In recent weeks, however, that dispute has cooled somewhat with talks in China this week between Chinese and U…
