The German shipping line Hapag-Lloyd posted an operating profit of €366m ($406m) in 2015 compared with a loss of €382m a year earlier. The ocean carrier, which merged with the container arm of Chile’s CSAV in late 2014, reported revenue of $9…
The feud among the scions of late billionaire Evergreen Group founder Chang Yung-fa's family boiled to the surface, reports local Taiwanese media. The struggle between the heirs to Evergreen Group has escalated as the three older brothers…
The U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) is seeking nominations for the newly-created Port Performance Freight Statistics Working Group. The working group, mandated by the Fixing America’s Surface Transportation (FAST) Act…
Tanker shipping freight rates are expected to remain firm in the first few months of 2016, but with the influx of tonnage these rates are expected to soften towards the end of the year, according to the latest edition of the Tanker Forecaster…
The new deeper Suez Canal will be a beneficiary of the ‘One Belt One Road’ initiative taken by China’s leader Xi Jinping, especially when it comes to the opening up of the Iranian market following the lifting of international sanctions and the moving into importance of the Indian refinery markets…
Rickmers Maritime, which is affiliated to the Hamburg-based Rickmers Group, slumped to a $129.2 million loss in 2015 from a $16 million profit a year earlier on increased write offs on the value of its ships and depressed container charter rates…
China's biggest shipping line China Ocean Shipping Corporation (Coscocs) has revealed an ambitious plan to increase its container shipping capacity to hit a 2 million TEUs over the next three years, says China Daily. The company is raising…
The traffic developments through the Suez Canal showed the change in each type of transient and cargo ships, which gives an indication of the future of traffic in the canal, according to analysis conducted by Daily News Egypt. According to data…
The dry bulk shipping sector has been dashed upon the rocks of vessel oversupply and slowing economic growth. Not dry bulk shipping business is grappling with an unprecedented crisis of too many ships and not enough cargoes, says a report in WSJ…
Diana Shipping has chartered the 73,630 dwt, 2004-built panamax, Protefs to Transgrain shipping for 12 – 16 months at a rate of $4,500 per day minus 5% commission. This employment is anticipated to generate approximately US$1.55 million…
Mitsui O.S.K. Lines, Ltd. today announced that it will launch trial of onboard data transmission and accumulation for its operated vessels in cooperation with Ship Data Center Co., Ltd.(*) (Representative Director: Yasushi Nakamura; Headquarters: Chiyoda-ku…
The coming year will be challenging for the shipping industry as global markets face a slowdown, however, the measures put in place by the Singapore Government and Maritime and Port Authority of Singapore (MPA) to help boost the industry are very encouraging…
Members of the G6 Alliance today announced additional void sailings within their Asia-Europe product in response to changes in market demand. As the G6 Alliance continues to review its product profile, the Loop 6 service will void sailings starting from Week 8 for a period of 11 weeks…
China COSCO Shipping Corp Ltd (COSCOCS), a new company formed by the restructuring of China's top two shipping firms, was officially established on Thursday (February 18). The Chairman Xu Lirong said his company,now the world's largest bulk vessel and oil tanker operator by fleet size…
Container lines are adopting alternative routes to the Panama and Suez Canals to avoid charges say the Copenhagen-based SeaIntel Maritime Analysis. SeaIntel state that since October 2015 115 vessels deployed on Asia-USEC and Asia-north…
