Sovcomflot Group and Sberbank CIB have signed a 14-year $340 million credit facility agreement to finance the construction of three Arctic shuttle tankers for the Novy Port project (project operator: Gazprom eft). Novy Port is one of…
The Royal Australian Navy operated Sail Training Ship (STS) Young Endeavour sailed into Fremantle today, completing a year-long circumnavigation of the world. Assistant Minister for Defence Darren Chester was in Western Australia to welcome…
China’s Cosco Pacific is understood to be the only party interested in the acquisition of the 51 percent stake (plus another 15 percent) of Piraeus Port Authority (OLP), reports Kathimerini. Alexis Tsipras's government had halted the sale…
The European Commission has sent to Greece a set of proposals to ensure that state support to the maritime sector in Greece complies with EU state aid rules. In particular, the Commission found that current provisions may breach EU state…
Global shipping consultancy Drewry Maritime Research said the breakbulk shipping market is expected to remain weak until 2017, citing low freight rates and high competition. Although demand growth is expected to recover next year after a very poor 2015…
In 1812, Russia beat back the advance of Napoleon’s army. On 18 December 2015 there is a similar tone of seasonal retreat, with most hopes pinned on the New Year. Shame there’s no-one around to write a symphony about it. At this stage the…
Norwegian marine insurer Skuld delivered a result of USD 20 million in the first nine months of the year, a USD 5 million increase from the same period last year. Overcapacity is still putting pressure on premium levels, says CEO. Skuld…
In a continued effort to provide our customers with reliable and efficient services from Asia to Latin America, CMA CGM wishes to inform about the improvement of ACSA services linking Asia to Mexico, Central America and West Coast South America…
Ocean Yield ASA has agreed to certain amendments to the charter agreements with Höegh Autoliners (Höegh) for four PCTC vessels on long term charter. Ocean Yield currently has two newbuilding PCTC vessels of 8,500 CEU capacity under construction at Xiamen Shipbuilding Industry Co…
The Panama Canal Authority (ACP) announced that the first-ever expansion is 96 percent complete. A video of recent progress can be seen here. In line with this, ACP CEO/Administrator Jorge L. Quijano provided a next-step update at an industry event Friday in Panama City…
GTT grants a License Agreement to Cochin Shipyard Ltd. for the construction of LNG carriers GTT (Gaztransport & Technigaz) announced it has granted a License Agreement to Cochin Shipyard Ltd. (CSL) for the construction of LNG carriers using GTT's membrane containment systems…
The divestment, which excludes the government satellite communication business, is part of the Airbus Defence and Space strategy announced in September 2014 [Press Release] Airbus Group SE (AIR) signed with French private equity firm, Apax Partners…
Global maritime welfare charity The Mission to Seafarers outlines emergency support work with surviving crew members of the Thorco Cloud – a general cargo vessel which sank in the Singapore Strait after a collision on December 16. The other vessel involved…
Ballast Water Convention ratifications by Morocco, Indonesia and Ghana welcomed. Entry into force still unconfirmed Ratification of the Ballast Water Management (BWM) Convention by Morocco, Indonesia and Ghana during November 2015 has brought…
James Leeson starts in role at the UK’s newest deep-sea container port, with Tabare Dominguez promoted to role in Vancouver DP World London Gateway Port has appointed James Leeson to the role of Head of Port Commercial following the announcement…
