Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom. Between the start of the financial crisis and January this year Baltic Dry Index - a measure of bulk freight rates—had fallen by 95%…
GasLog Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, increased quarterly cash distribution by 10% to $0.478 per unit for the third quarter of 2015, equivalent to $1.912 per unit on an annual basis…
Looking at the Company’s business performance for the first half of FY2015, operating income and ordinary income improved as the tanker division enjoyed favorable market conditions, backed by a decline in bunker prices, says Mitsui O.S.K. Lines (MOL)…
Two high-speed boats from Sweden have joined the sea rescue effort in the Eastern Aegean, and it was GAC that coordinated their delivery to Greece.The craft were sent by the not-for-profit NGO, the Swedish Sea Rescue Society (SSRS), in…
Maersk Line has laid-up one of its 18,000-teu Triple E containerships. It cannot rule out that it will have to anchor another of its massive Triple E ships in connection with the Chinese New Year. The Danish carrier will anchor Triple- E 18…
While merger talks between South Korean shipping companies Hanjin and Hyundai Merchant Marine lines hit the newspapers, the latter has refuted rumors that the government asked the carrier to merge with the former. HMM said, 'With regards to the report in Korea Economic News…
China Cosco, the flagship unit of state conglomerate Cosco Group, swung to a net loss in the third quarter of calendar 2015 at 1.7 billion yuan. Its revenue fell 19 per cent to 14.1 billion yuan in the third quarter. For the first nine months of 2015…
Hong Kong-listed China Shipping Development (CSD) , part of Chinese state giant China Shipping Group, posted a net profit of 391 million yuan, up 800 per cent compared to the same quarter last year. Driven by strong tanker performance, CSD had a much better third quarter…
German container shipping group Hapag-Lloyd AG is postponing its stock market debut by a week after investors shied away from the company following Maersk Line’s modest profit forecast last week, reports Reuters. If demand for the shares remains weak Hapag may lower the offer price…
Abu Dhabi Ports (ADP), the master developer, operator and manager of ports and industrial zones in the Emirate, presented the offerings of its Khalifa Industrial Zone Abu Dhabi (Kizad) and Khalifa Port at an exclusive business event in Dubai…
Sulphur businessman Joseph R. “Dick” Kennison has been reelected president of the West Calcasieu Port board of commissioners during the port board’s October monthly meeting. Kennison’s term is for one year. Also reelected by the five-member…
The construction of a terminal for production and transhipment of LNG on the territory of the Vysotsk port will begin in February 2016, according to the press center of Leningrad Region Government. Cryogas CJSC is going to commence the…
As carriers withdraw from unprofitable routes, is there really too little competition in container shipping? A new report from UNCTAD highlights risks to competition in the container sector, specifically for smaller nations, says Drewry…
International energy logistics company Peterson has strengthened its leadership team with the appointment of Chris Coull as regional director. Coull is the latest in a string of senior appointments by the company this year as it continues…
TEU Growth Forces Efficiency, Productivity DriveWhen Maersk subsidiary ADP Terminals (ADPT) launched APMT Maasvlakte 2, the world’s first fully automated container terminal in April, it did so against a background of months of acrimonious…
