The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report. As container lines search for successful paths forward…
The shipowning group Mediterranean Shipping Company (MSC) has appointed Ammar Kanaan as Chief Executive Officer of its cargo container terminals arm Terminal Investment Limited (TiL). TIL directly manages or crosses 53 container terminals in ports of five continents…
Norwegian oil major Statoil has declared a one-year option for the Platform Supply Vessel (PSV) Viking Energy from April this year, in direct continuation of current contract. Eidesvik said on Monday that Statoil exercised a one-year option for Viking Energy…
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald Klaveness managed to improve its financial results in 2017, but they “were still not at a satisfactory level”…
RollDock and SAL Heavy Lift announced plans to join forces for roll-on/roll-off and float-in/float-out heavy lift cargoes, saying they will launch a “world’s first” pool for dock vessels from April 1, 2018. The pool will consist of the combined…
Russian energy giant Gazprom said on Monday it planned to reorganise its export operations to create an integrated international distribution unit responsible for all of its export deliveries, trading and marketing. Gazprom said in a statement…
Truckers in Argentina ended a strike that had stalled grain exports and agreed to meet with transportation authorities later this month to resolve their differences, the government said on Saturday. Nearly 100 cargo ships were waiting on…
'Chocfinger' made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel. Ward blames the rise of computer-driven funds…
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter…
Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki…
The Ukrainian agriculture ministry sees 2017/18 grain exports at up to 41 million tonnes, acting minister Maksim Martyniuk said on Monday. 'For now we keep the forecast unchanged at 40-41 million tonnes. Potentially in the future we could lower the export estimate slightly to 40 million tonnes…
Interventek Subsea Engineering has announced the appointment of Bruce Stuart to the role of Sales and Business Development Director. Stuart brings with him over 30 years of commercial leadership experience and in-depth operational knowledge of the oil and gas industry…
The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV.With this strategic move, the family-owned ship owner and manager continues to increase its…
Ocean Yield has announced that 100% owned subsidiaries of the Company have agreed to acquire four VLCC crude tankers with 15-year bareboat charters to companies owned and guaranteed by Okeanis Marine Holdings. All four vessels are sub…
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan, Executive Director and Head of Offshore Marine Services (OMS) of Bumi Armada Berhad…
