The European Central Bank has urged German state-owned lender Bremer Landesbank to shore up its capital resources against non-performing loans in shipping, three sources familiar with the matter said.Bremer (BLB) needs another 700 million euros ($800 million) in equity…
The U.S. Coast Guard continues to monitor and respond as the motor vessel Roger Blough is safely anchored in Waiska Bay, Saturday afternoon, after the vessel ran aground May 27 on Gros Cap Reef in Whitefish Bay in Lake Superior.The vessel…
APM Terminals has graduated another 19 competitively selected managers from across the APM Terminals Global Terminal Network from the MAGNUM accelerated leadership training program at a formal ceremony in The Hague. Members of this year’s class represented 16 countries in Europe…
Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment.Adani…
The Los Angeles Board of Harbor Commissioners has approved a $1.17 billion fiscal year (FY) 2016/17 annual budget for the Port of Los Angeles. As in years past, budget allocations closely align and support the four key objectives of the Port’s 2012-2017 Strategic Plan…
The 29 countries party to the Antarctic Treaty unanimously agreed today to a resolution at the 39th Antarctic Treaty Consultative Meeting (ATCM) stating their “firm commitment to retain and continue to implement…as a matter of highest priority” the ban on mining activities in the Antarctic…
After an extensive national search, the Port of Seattle has promoted Elizabeth Leavitt to lead its work to protect and enhance the environment. The Senior Director for Environment and Sustainability is a newly created position leading a center of expertise that consolidates environmental…
The Coast Guard Sector Lake Michigan-led investigation regarding wake from the USS Milwaukee and recreational vessels off Chambers Island on Green Bay September 5, 2015, is completed. The marine casualty investigation determined that enforcement…
The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs…
In order to continue offering the best dedicated service from Far East to Mexico, Central America and the Caribbean, CMA CGM is glad to inform its customers about the new rotation of its PEX 2 service. As from m/v CMA CGM NEW JERSEY voy…
China COSCO Shipping Co. Ltd (China COSCO Shipping) officially inaugurated the company “COSCO shipping Financial Holdings Limited (COSCO shipping Financial) in Hong Kong. It was former China Shipping (Hong Kong) Holdings, reports Sinocast…
The Middle East container shipping group United Arab Shipping Co. (UASC ) met with shareholders at the company's corporate office in Dubai to discuss a possible combination with German rival Hapag-Lloyd, but no decision was finalized. According to sources…
Hapag-Lloyd launches “THE Alliance” with old and new partners – Customers benefit from additional sailings and direct connections. The container shipping industry is undergoing a period of reorganization – and Hapag-Lloyd is assuming a leading role in the process…
Knowledge@Wharton, the Wharton School of the University of Pennsylvania journal, says that the transformation Panama Canal expansion project will bring to Panama’s domestic economy and society have been largely overshadowed by the historic expansion…
In fiscal 2015, Nippon Yusen Kaisha (NYK Line) achieved a 14.3 percent reduction in CO2 emissions, exceeding the goal established in 2011 in the company’s 'More Than Shipping 2013' medium-term management plan calling for a 10 percent reduction…
