Singapore oil trader Hin Leong held a call with banks on Tuesday after they failed to provide a letter of credit to the firm to purchase at least one cargo of oil products due to load this month, four sources said.The coronavirus pandemic has…
India's merchandise exports shrank by more than one-third from a year ago, dragged down by a fall in global demand and shipments due to the outbreak of coronavirus, the Trade Ministry said in a statement said on Wednesday.Merchandise exports fell to $21…
Lasse Carøe Henningsen, 46, will become the new Chief Financial Officer (CFO) at Hamburg Süd, succeeding Jakob Wegge-Larsen, who has held this position since December 2017 and will be returning to Maersk in Copenhagen at the end of June. Already at the end of February 2020…
Naval Ship Management (NSM) has partnered with L3Harris Technologies to provide engineering, maintenance and supply chain solutions to support Australia’s largest warship - the Canberra Class Amphibious Assault Ship, also known as the Landing Helicopter Dock (LHD)…
Late on the night of April 14, 1912, the “unsinkable” passenger ship RMS Titanic, on its maiden voyage from Southampton to New York, struck an iceberg. It sank about three hours later, at about 2:20 a.m. on April 15, 1912. Of the 2,224 persons on board…
Port Elizabeth Container Terminals (PECT) prepares for the upcoming citrus fruit harvest with new Liebherr mobile harbor crane technology. The two LHM 600 were transported from Rostock, Germany to South Africa. After a 20-day journey, they were unloaded from the transport vessel “Happy Dragon”…
Social distancing is a new fact of life for most, but not long-ago technical conferences brought experts together. In early February, Underwater Intervention provided a series of presentations on developments in untethered vehicles. A powerful…
During these unprecedented times, the International Transport Intermediaries Club (ITIC) recommends that brokers should consider stressing the current unusual market conditions in their ship valuation certificates.Following the financial crisis of 2008…
A new COVID-19 Tracking Tool developed by global marine insurer North has been made available as a shared resource to the International Group of P&I Clubs.The online tool, first released by North in February, was formally launched via the IG website this week…
Motive Offshore Group appointed David Leith as Rentals Division Manager.Motive Offshore Group has also reported an impressive start to 2020 for its Rentals division, with first quarter results exceeding initial expectations.Launched in 2010 by James Gregg and Dave Acton…
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said…
The U.S. Coast Guard Academy announced it is preparing to hold a virtual graduation ceremony on Wednesday, May 20 due to the coronavirus pandemic.The graduating Class of 2020, along with the rest of the Academy Corps of Cadets were on spring…
The Alabama Port Authority completed its 400-foot container dock extension at the APM Terminals Mobile facility on March 20, and three days later, the terminal for the first time simultaneously handled two containerships at the newly expanded berth…
The new coronavirus caused barely a blip in China's imports of major commodities, but this likely underscores the ways China differs from the rest of the world, rather than providing a template for the globe's recovery from the pandemic.China's crude oil imports in March…
Egypt's Suez Canal Zone and its Suez Canal Container Terminal (SCCT) announced an agreement on Tuesday committing to $50 million of investments that they said would help boost competitiveness at Port Said East port.SCCT opened in 2004 and is operated by majority shareholder APM Terminals…
