The Baltic Exchange's main sea freight index fell to its lowest level since April on Monday, weighed down by weaker vessel demand across all segments.* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities…
Suez Canal revenues increased slightly to $5.8 billion in 2019 compared with $5.7 billion in 2018, its authority said in a statement on Saturday.The canal kept its transit toll unchanged in 2020 for all types of vessels except dry bulk vessels…
Egypt on Saturday reopened the harbors of two of its Mediterranean ports, Alexandria and Dekheila, which had been shut due to bad weather, the Alexandria Port Authority said.The harbors were shut on Friday due to high waves and wind speeds, preventing ships from entering or leaving the ports…
The Korean Register (KR) has appointed Hyung-chul Lee as its 24th Chairman & CEO. His term began on December 23, 2019 and runs for three years until December 22, 2022.Hyung-chul Lee joined KR in 1988 and has until now held the position of Executive Vice President of KR…
South Korean shipbuilder Hyundai Mipo Dockyard (HMD), a unit of Hyundai Heavy Industries (HHI), has confirmed the KRW 110 billion ($100m) newbuilding order for four units of 1,800 TEU container carriers from Taiwanese shipping line Evergreen Marine Corporation…
The Marine Technology Society (MTS) announced that its membership has elected Dr. Josh Kohut, a professor at Rutgers University at the Center for Ocean Observing Leadership, to serve on its Board of Directors as the Vice President of Education…
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private sector port operator, has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of INR 13,572 crore (US $1.9 billion). KPCL is located in the southern part of Andhra Pradesh…
International drilling contractor to the oil and gas industry Borr Drilling Limited announced the appointment of Mr. Neil Glass as a new director of the Board.Glass graduated from the University of Alberta in 1983 with a degree in Business.…
South Korean shipbuilder Hyundai Heavy Industries (HHI) Group, which includes the world's largest shipyard, aims for a revenue of USD 15.9 billion in 2020.Yonhap News Agency said the combined target of Hyundai Heavy Industries Co., Hyundai Samho Heavy Industries Co…
Adani Ports and Special Economic Zone (APSEZ) said on Friday it would buy a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of 135.72 billion rupees ($1.89 billion).The deal will take its domestic market share to 27% from 22% on a pan-India basis…
Evac, a supplier of integrated waste, wastewater, and water management systems for the marine, building and offshore sectors, has appointed Tapio Kolunsarka as new CEO of Evac Group effective 1 Jan 2020.He succeeds Tomi Gardemeister who has…
Italian cruise line Costa Cruises said that Costa Smeralda is the first ship in the Costa fleet to be fueled by liquefied natural gas (LNG). 'This is a step change for the cruise industry as a whole, guaranteeing a substantially reduced environmental impact…
The Members of Parliament (MPs) of Iranian Parliament (Majlis) approved the general outlines of a bill on attaching Shahid Kalantari Port and Shahid Beheshti Port to Chabahar Free Trade Zone in southeast of Iran.The attachment of two ports to…
Florida-headquartered international cruise line Carnival Cruise Line announced that the debut of its newest ship, Mardi Gras, will be pushed back until Nov. 14, 2020 after the Meyer Turku shipyard in Finland informed the cruise line “that the delivery will be delayed…
Singapore-headquartered provider of maritime transportation services in the drybulk and product tanker sectors, Grindrod Shipping Holdings is planning acquisition of an additional 33.25% stake in its IVS Bulk joint venture.'Grindrod Shipping is progressing negotiations to acquire all of the 33…
