Traders adding U.S. port options to cargoes for flexibility. Traders are scrambling to find oil products in Asia to ship to the United States and Latin America after Hurricane Harvey shut almost a quarter of U.S. refining capacity, several trading and shipping sources told Reuters on Wednesday…
China's COSCO Shipping Holdings Co Ltd reported a first-half profit on Wednesday and forecast that improved demand in the container shipping market would continue for the rest of the year. China's largest shipping group, which last month…
The port terminal operator division of China COSCO Shipping Corp. posted net profits of US$384.7 million, an increase of 123.7% for FY 2017, compared with the corresponding period last year. Total throughput of the Group’s container terminals increased by 11…
TRAC Intermodal said it is expanding availability of its TRAC Select offering to meet growing demand among customers serving the country’s busiest ports including the Los Angeles/Long Beach and New York/New Jersey ports. Launched in February…
New alliances, structural change and positive economic trends have transformed the container shipping market over the past year, driving growth and pushing business performance figures from deep red into black. However, despite long-term rates that are…
German container shipping group Hapag-Lloyd swung to a first-half operating profit as it raised transport volumes and freight rates stabilised, but it still posted a net loss after higher ship fuel costs weighed on first quarter earnings. Profit…
Mitsui O.S.K. Lines (MOL) has announced its determination to participate in the 'Consortium to develop trade data sharing platform using blockchain technology,' in which NTT DATA Corporation serves as the administrative office. The consortium…
Cosco Shipping International said its net profit rose 42% in the first half of 2017, thanks to higher net exchange gains and net finance income. In the first half of 2017, the global economy saw an upward trend in growth with improving market confidence…
The International Maritime Organization (IMO) recently confirmed that global refiners and shippers must comply with new regulations to reduce the sulfur content in marine bunker fuels by January 2020—five years earlier than many expected. As a result…
Germany's Thyssenkrupp said it has won an order from Brunei to build a fertilizer plant in the southeast Asian state, in a much-needed boost to its struggling industrial solutions division. It did not disclose the value of the contract, awarded by state-run Brunei Fertilizer Industries…
Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, Fujairah Terminals at the Port of Fujairah, and Khalifa Industrial Zone Abu Dhabi (KIZAD), celebrates Emirati Women’s Day…
The Port of Texas City said on Saturday it expects to reopen within 24 to 48 hours after completing an assessment for damages after Tropical Storm Harvey made landfall as a category 4 hurricane. The port was closed on Friday for maritime operations…
Major Qatari shipping conglomerate Qatar Navigation (Milaha) is launching a direct service between Qatar and Karachi in Pakistan, the company said on Sunday, as it seeks to counter economic sanctions against Doha by other Arab States. Saudi Arabia…
The Port of Corpus Christi has begun its recovery efforts after initial assessments show light to moderate damage and debris from the impact of Harvey, which hit the major port as a Category 4 hurricane, the port director said on Sunday. 'We…
Korea Maritime Promotion Corporation (KMPC), a dedicated support organization for the shipping industry, will be established in Busan in June of next year with capital of 5 trillion won (US$4.5 billion), reported BusinessKorea. KMPC is set to offer financial and industrial policy support…
