The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts…
Neptune Orient Lines(NOL) confirmed that it is continuing in discussions with respect to a potential acquisition of the group as previously announced on Nov 7 on the local bourse, reports Business Times. This comes after the Singapore Exchange…
In October a number of trade bodies released a joint press release to formally announce a reduction of the High Risk Area (HRA). Insurance companies have said the reduction may not result in reduced insurance costs due to the assessment…
Chinese transport giant China Merchants Group looks set to takeover Sinotrans & CSC in the potential merger between the two shipping giants in China, reports Reuters. The two companies have been locked in reorganization talks, financial magazine Caixin said…
Norway's Songa Offshore SE referred Tuesday to its announcement July 15 regarding the receipt of notices of arbitration from South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) in respect of the construction contracts for the Cat D rigs…
Marco Polo Marine has unilaterally terminated a rig building order worth US$214.3 million from a subsidiary of Sembcorp Marine. Sembcorp Marine on early Wednesday morning said its subsidiary, PPL Shipyard, will regard the termination by Marco Polo Drilling (I) of the US$214…
A German ship Cornelia is being held in the Duluth Bay by U.S. authorities in Lake Superior for a fortnight, says local media. The U.S. Coastguard is investigating the German bulk carrier for alleged environmental violations. The 2001…
The Bureau International des Containers (BIC) has announced Stephen L. Caldwell of the United States as the winner of the 2015 BIC Award, in recognition of more than 30 years’ dedication to improving international security, including more than…
Brian Yoder has joined Moffatt & Nichol as Chief Software Architect at its Long Beach, Calif. office to help manage the software product development of FlexTerm, a simulation and emulation tool developed mainly for the container terminal planning…
Global marine fuel and lubricant trading and brokering company Glander International Bunkering (GIB) has hired Ankita Batra as a trader for its India office. Batra joins (GIB) with a post graduate in the domain of Energy Trading from the University of Petroleum and Energy studies…
JRC and Alphatron Marine have launched a new digital AlphaChartTable comprising of a dramatically increased 46-inch touch display where routes can be planned on a “paper chart” scale. By use of the digital chart table, navigators are now…
Ensco plc has named Jon Baksht the company’s new chief financial officer based in London, succeeding Jay Swent, who will retire at year end. Baksht was most recently vice president - finance after joining Ensco as vice president - treasurer…
North P&I Club has appointed Job de Groot of Van Oord as its new vice chairman, succeeding Lars Christensen of Norden, who stood down from the role as well as from the club’s board at the directors’ meeting on November 5. de Groot first…
The cost of operating cargo ships is forecast to rise over the next two years after falling in 2015, according to the latest Ship Operating Costs Annual Review and Forecast 2015/16 report published by global shipping consultancy Drewry. The…
The draft law on the development of the Arctic region will be discussed at a joint meeting of the Presidium of the Advisory Council on the Arctic and Antarctic in the Federation Council and the State Commission on the Development of the Arctic November 20…
