Sri Lanka's state-run investment body has approved a $500 million liquefied natural gas plant by China Machinery Engineering Corp near a Chinese-controlled port and industrial zone, the development strategies minister said on Friday.The state…
Bermuda-based Nordic American Tankers (NAT) is planning to sell two of its older suezmaxes, thus reducing its fleet size to 31 tanker vessels. NAT described the move as a means of “retaining the flexibility of NAT going forward”. 'We…
Teekay Offshore Partners L.P. announced today that David Wong will step down from his position as Chief Financial Officer of Teekay Offshore Group Ltd. to commence a new opportunity outside of the Teekay organization.Wong, who joined Teekay…
Brazil's soybean exports hit record volumes last month, grain exporter association Anec said on Thursday, citing a weak domestic currency and trade tensions between the United States and China for bolstering business for local farmers.Brazil's April soybean exports reached 11…
Activists hailed a Kenyan court for ordering that almost 5,000 fishermen at a 14th century World Heritage Site receive millions in compensation for the loss of traditional fishing rights due to the construction of a major port.The fishermen in Lamu…
Ethiopia and Sudan have agreed on a deal that will allow the Horn of Africa nation to take a stake of Port Sudan, Ethiopia's Foreign Ministry said on Thursday.The deal was reached on Thursday in Khartoum in a meeting between Ethiopia's Prime…
The Trump administration’s proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce U.S. gross domestic product by nearly $3 billion and destroy 134,000 American jobs, according to a new study…
Buckeye Partners announced the formation of a joint venture with Phillips 66 Partners and Andeavor to develop a new deep-water, open access marine terminal in Ingleside, Texas. The South Texas Gateway Terminal will be constructed on a 212…
South Korean exports declined in April for the first time in 18 months, unable to keep up with 2017’s brisk pace as global demand softened, adding to worries about the country’s trade outlook amid the risk of a deepening U.S-China trade conflict…
MISC Bhd, the shipping arm of Petroliam Nasional Bhd or Petronas, which is optimistic of delivering better earnings in its financial year 2018, is setting aside a bigger capital expenditure (capex) totalling RM15.68 billion (US$4 billion) over the next five years to grow its four core businesses…
Qatar Navigation (Milaha), a leading maritime and logistics conglomerate, has reported a net profit of QR260 million ($71.3 million) for the first quarter of 2018, up from QR236 million ($64.80 million) for the same period in 2017. Milaha…
DP Global trade enabler DP World has staged the first ever live virtual Annual General Meeting for shareholders at its headquarters in Jebel Ali.Shareholders were connected by a live webcast and telephone conference facility across the region…
Fitch Ratings affirmed today the 'A' rating on approximately $64.3 million of Canaveral Port Authority (CPA) port revenue bonds. The Rating Outlook is Stable. Today's announcement by the credit rating agency underscores Port Canaveral's market position as a leading cruise-focused port in the U…
International Seaways announced that its joint ventures with Euronav NV, which own the FSO Africa and FSO Asia floating storage and offloading service vessels, have closed on a $220 million credit facility. Based on INSW’s 50% ownership in the joint ventures…
Turkey will open an investigation into whether iron and non-alloy steel imports harm local producers, the government said on Friday.Producers from the European Union, which Turkey aims to join, will be exempted from the investigation, the government said…
