Hapag-Lloyd informs about the current delay of its Mediterranean Pacific Service (MPS) – “Duesseldorf Express” due to technical Problems. 'We regret to inform you that the “Duesseldorf Express” experienced technical problems on her current westbound voyage…
Moody's Investors Service has today changed to stable from positive the outlook on CMA CGM S.A.'s B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured rating. Concurrently, Moody's has affirmed the ratings assigned to the company…
TOTE Maritime Alaska announced that Michael Noone will assume the role of President, January 1, 2016. Noone joined TOTE Maritime Alaska as Chief Operating Officer in August 2013, bringing 28 years of experience in the shipping and logistics field…
Foss Maritime announced that John Parrott will join the Foss executive team as Chief Operating Officer (COO). Parrott comes to Foss from sister company, TOTE Maritime Alaska, where he has served as President for sixteen years. In his new role as Foss' COO…
French container shipping giant CMA CGM is to buy Singapore's Neptune Orient Lines for $2.4 billion, making its biggest-ever acquisition to help it to ride out a severe market downturn. The takeover, which the companies expect to proceed in mid-2016 following anti-trust approvals…
U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.The layoffs come on top of cuts announced in June when…
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra…
Acquiring ships from financially troubled shipping companies will remain one of the mainstay jobs handled by South Korean finance house Korea Asset Management Corporation (KAMCO) next year, reports Korea Times. The company has bought 33…
The Antigua-Barbuda-flagged EMS Majestic began to sink with seven crew on board in the English Channel when it was being towed to safety. The UK Coastguard received a Mayday call at 7.09pm on Sunday from a cargo vessel which was taking in water in the Dover Strait…
President Obama is today, expected to sign a five-year, $305 billion transportation reauthorization bill that Congress overwhelmingly passed yesterday which includes $11 billion in new freight funding grants and programs and other top priorities among America’s seaports…
Jasper Wiese, an apprentice with Hapag-Lloyd, is a huge fan of seafaring and everything having to do with mechanics. But what exactly does a budding ship mechanic learn? Even during his fifth week of training to become a ship mechanic, Jasper Wiese still couldn’t believe it…
Peel Ports announced that it has secured 50 advocates for its Cargo200 initiative and is urging other shippers in the North-west to add their weight to the campaign.Launched in May, Peel Ports called for importers and exporters whose…
The cost of shipping crude surged to all destinations, amid speculation that bookings are increasing to load crude. According to a report in Bloomberg, the oil tanker rates soared to the highest in seven years amid an acceleration in the…
The Economou family's TMS Cardiff Gas Ltd. has exercised options on its contracts with Hyundai Heavy Industries of Korea for the construction of an additional two 78,700 cbm LPG carriers. Both vessels are scheduled for delivery in Q4 2017…
CMA CGM has secured the necessary financial backing to proceed with an acquisition of Singapore's Neptune Orient Lines (NOL), Reuters reports, citing two people said to be familiar with the matter. The French shipping giant is reported to have received “firm commitment” from lenders HSBC…
