UAE global port operator DP World has launched a $9 billion financing into a targeted syndication process involving less than 10 banks, according to banking sources.The financing, which backs the borrower's privatization, was expected to sell down in a general syndication…
Cargo volume at the Port of Los Angeles is down 15.5% so far this year as the novel coronavirus upends economies around the globe, Gene Seroka, executive director of the busiest U.S. seaport, said on a webcast on Wednesday.April volume was down 6…
On April 28, 2020, the Federal Maritime Commission (FMC) released the long-awaited interpretive rules in Docket No. 19-05 relating to how ocean common carriers may lawfully apply demurrage and detention charges to exporters, importers and ocean transportation intermediaries…
China’s exports and imports are expected to record double-digit declines in April after a tentative recovery in March as the coronavirus pandemic batters global demand and disrupts manufacturing supply chains, a Reuters poll showed on Wednesday…
Finland's Wärtsilä plans to cut 700 jobs globally as the Finnish engineering group splits its ship technology business into three separate business units.'Even though the timing is challenging, implementing the new organisation and modus operandi fast is important for Wartsila's future success…
German container line Hapag-Lloyd is to implement cost cuts to take account of the coronavirus crisis, its chief executive Rolf Habben Jansen said on Wednesday.In a call with reporters, he said the Hamburg-based firm, the world's fifth largest shipping operator…
The Women’s International Shipping and Trading Association announced a new initiative aimed at helping seafarers.WISTA Norway, WISTA UK, WISTA Singapore, WISTA Brazil, and WISTA Argentina have come together to offer free WISTA membership for seafarers through August 31…
International maritime welfare charity Sailors' Society has launched a dedicated helpline for seafarers and their families.The confidential, 24 hour service is there to offer support and welfare to those worried or adversely affected by the coronavirus pandemic…
X-Press Feeders CFO Shmuel Yoskovitz will take over as CEO, the Singapore-based feeder containership operator announced.Yoskovitz replaces Tim Hartnoll who has served as CEO since 2017. Hartnoll will transtion back to his role as group chairman…
The German National Metrology Institute (PTB) has granted Seijsener the “Baumusterprüfbescheinigung” (type examination certificate) for Seijsener's shore power cabinets. This makes the Dutch company the first manufacturer of shore power for ships in Europe to be awarded this ‘Eichrecht’ certificate…
Crowley Maritime Corp. has agreed a contract to install Fleet Xpress from satellite communications provider Inmarsat on a majority of its vessels.The 128-year old Florida-headquartered business owns, operates and manages a diverse fleet of close to 200 vessels…
French soft wheat shipments outside the EU last month reached a four-year high for April, Refinitiv data showed, as exporters continued to ship high volumes during the coronavirus pandemic.Soft wheat exports to destinations outside the European Union totalled 1…
One of the world's largest shipbuilding exhibitions, SMM, held bi-annually in Hamburg, Germany and scheduled to take place in September 8-11, 2020, has been postponed to 2-5 February 2021 in response to the Coronavirus pandemic and its global impact on major events and international travelling…
Brazilian soybean exports in April reached 16.3 million tonnes, an all-time record for a single month and an increase from 9.4 million tonnes in same month last year, according to average daily export data released on Monday by the government…
Marine Terminals Corporation – East (Ports America), Ceres Marine Terminals Inc. (Ceres), and SSA Atlantic LLC (SSA) have formed a joint venture, Charleston Stevedoring Company LLC (CSC), to provide container terminal and stevedoring services in the Port of Charleston in South Carolina…
