Technology will prove the game changer for the shipping industry. The shipping industry faces many challenges. The growth in fleet volumes at a time of global economic slowdown has resulted in excess supply and falling demand, which has had a major impact on profitability…
The Port of Indiana-Burns Harbor will receive one of the nation's 10 FASTLANE small project grants for 2017, U.S. Secretary of Transportation Elaine L. Chao has confirmed. In August, Secretary Chao informed Congress the Department of Transportation was recommending approval of a $9…
Located in the Pacific Northwest in Washington State, The Northwest Seaport Alliance joining the deep draft ports of Seattle and Tacoma offers shorter U.S.-to-Asia transits, as well as a deep connection to Alaska. And, a lot more. In an…
Australia's Wheatstone liquefied natural gas (LNG) project, after starting production earlier this month, has shipped its first export cargo to a buyer in Japan, majority owner and operator Chevron Corp said on Tuesday. Wheatstone is the…
Belgian tanker operator Euronav reported a sharp drop in core profit for the first nine months of the year as freight rates in the oil tanker sector continued to fall. Excess tonnage in the global tanker market has put pressure on freight rates…
Chinese container carrier Cosco Shipping is thirsty for expansion and will raise CNY 12.9billion (USD 2billion) in new capital, according to Reuters report. The money will go to the construction of 20 new vessels. The carrier will use the raised fund to fund the building of six 21…
Japan's Sojitz Corporation has acquired full ownership of First State Regasificadora (FSR), subsequently changing the company’s name to Sojitz Regasificadora (SR). SR owns a 15% stake in Regasificadora del Noroeste (Reganosa), whose assets include the LNG terminal located in Mugardos…
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, announced the expansion and diversification of the Company's commercial activity with the launch of the new subsidiary Star Logistics Management S…
Bahri Data showcased its Big Data capabilities at the Maritime Innovation and Digitalization Day 2017, organized by Dubai Maritime City Authority (DMCA). Representing Bahri at the event which was recently held in Dubai, Anwar Siddiqui, President of Bahri Data…
Oslo-based shipping company MPC Container Ships has continued its fleet expansion with the addition of two more container vessels; to take delivery of the vessels next month. The expanding start-up company purchased a 2,564 TEU vessel, which will be named AS Petulia…
GoodBulk, an owner and operator of dry bulk vessels announced that it has entered into an agreement to acquire 7 to 13 Capesize dry bulk carriers from entities managed by CarVal Investors. Delivery of the vessels is expected to occur during the 4th Quarter of 2017 and the 1st Quarter of 2018…
Attica Group has announced that it reached an agreement with Minoan Lines, owned by Naples-based Grimaldi Group, for the acquisition of its 48.53 percent stake in Hellenic Seaways. According to an announcement, the agreement provides for Attica Group to purchase Hellenic Seaways’ shares for 78…
Orient Overseas (International) Limited (OOIL) total volumes were 5.0% up for the third quarter of 2017 (ended 30th September 2017), from that of the same period last year. Total revenues increased by 26.5% to US Dollars 1,453.4 million…
International law firm Watson Farley & Williams (WFW) advised Banca Popolare di Milano S.p.A. (BPM) regarding a US$28.8m loan facility granted to L.G.R. di Navigazione and secured by, inter alia, mortgages over two medium range ice class tankers…
Indian Minister of Shipping Nitin Gadkari today digitally flagged off a RoRo cum general cargo vessel M.V. IDM DOODLE carrying a consignment of 185 trucks from Chennai Port to Mongla port in Bangladesh. Shri Gadkari informed that these trucks…
