Star Bulk Carriers Corp. announced that it has consummated the previously announced acquisition of 16 dry bulk vessels in an all-share transaction, from entities affiliated with Augustea Atlantica SpA and York Capital Management.The final consideration for the Augustea Vessel Purchase is 10…
China's Unipec, the trading arm of state oil major Sinopec, has suspended crude oil imports from the United States due to a growing trade spat between Washington and Beijing, three sources familiar with the situation said on Friday.The sources…
Transhipment in the North Sea Canal Area at the seaports Amsterdam, IJmuiden, Beverwijk and Zaanstad declined to 49.4 million tonnes in the first half of 2018, a decrease of 5.1%. The Port of Amsterdam saw transhipment fall by 4.8% to 40.2 million tonnes…
Port of Amsterdam said the maximum Environmental Ship Index (ESI) discount is doubled for ships with ESI certificates and liquefied natural gas (LNG).For some years Port of Amsterdam has been giving discounts on port dues to vessels listed in…
The medium term outlook for global container port demand growth is positive thanks to strong underlying economic momentum across the world’s major economies. While there may be clouds on the horizon in the form of tariff and trade war fears…
XPO Logistics, one of the largest global freight transportation and warehousing companies, reported a jump in quarterly profit on Wednesday, fueled by shipments of heavy and bulky items and strong demand for e-commerce order fulfillment.Greenwich…
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb 'vastly' more shipments from the United States but current EU investment in new projects will only help open small markets.In…
India's Ministry of Shipping has undertaken a diverse set of initiatives as part of its drive to boost profitability across major Indian ports.One major initiative is to improve the returns earned on treasury investments by the ports for pension…
Navios Maritime Containers, a growth vehicle dedicated to the container sector, announced that it agreed to acquire a 2009-built, 4,563 TEU containership for $13.9 million from an unrelated third party.The vessel is expected to be delivered in Q3/Q4 2018…
North Carolina Ports moved a record number of containers through the Port of Wilmington during the 2018 fiscal year, which ended June 30. Wilmington recorded 38 percent year-over-year container growth and year-over-year general cargo growth is up 18 percent…
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, boosted by stronger demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels…
Asset quality, size and diversification will determine the success of shipping companies in the next 18 months as higher costs, tighter environmental rules and worsening global trade relations risk offsetting buoyant demand and capacity reductions…
Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds. These bonds will be used for both the deepening and widening of the Corpus Christi Ship Channel as well as upcoming capital projects within the Port…
The state-run Korea Ocean Business Corporation (KOBC) said it will offer support to 10 small and medium shipping lines as part of its effort to revive the country's maritime transportation sector.According to a report in Yonhap, KOBC selected…
The Hong Kong-based maritime transport company Pacific Basin Shipping, has announced unaudited interim net profit of US$30.8 million (HK$241.74 million), compared with a net loss of US$12 million last year.The international dry bulk shipping company declared an interim dividend of HK$2…
