The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2…
With earnings, adjusted for amortization costs, profits came to 43 cents per share, Greece-based Dynagas LNG Partners LP (DLNG) exceeded Wall Street expectations. The company is looking into the opportunity of acquiring five LNG carriers…
Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry…
Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before. Despite a stronger market seen in the VLCC sector…
Volvo Penta is the official engine supplier for the 2014-2015 Volvo Ocean Race, which is having its North American stopover in Newport, R.I., this week. “The Volvo Ocean Race serves as a crucible for developing and testing new technologies that will benefit the entire marine industry…
16 deserving students were awarded with the Howe Yoon Chong PSA Scholarship. Mr Fock Siew Wah, Group Chairman of PSA International (PSA), presented the award certificates to the students at a ceremony held in PSA Building in Singapore today…
Gas Authority of India Limited (Gail) and Indian Oil Corporation (IOC) signed a memorandum of understanding (MoU) to join Adani Group promoted Rs 5,000-crore ($805 mln) Dhamra LNG Port (DPCL) project on the Odisha coast. The MoU comes within…
New York-listed ship and barge Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter. The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share…
Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level…
The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013.Petrofin Research in its latest annual research says that drawn loans are up by 2…
Seagull Maritime AS has launched the Container Industry Competence Standard (CICS), an assessment and training system covering container vessel operations. The program aims to bring new consistency to competency on-board containerships, following…
Coal mining giant Glencore has now applied to have the competition watchdog oversee pricing in the newly privatised Port of Newcastle, reports The Sydney Morning Herald. The NSW port is hiking some shipping charges up to 60 percent after its $1…
German container line Hapag-Lloyd has defied the challenging market environment in the containership market and returned to profit in the first quarter of 2015 euros as a stronger dollar and lower bunker prices helped to offset weaker freight rates…
Nippon Yusen Kabushiki Kaisha (NYK Line) has concluded time-charters for two new LNG carriers with Diamond Gas International, a Singapore affiliate of Mitsubishi Corporation. NYK also concluded a contract with MI LNG Company Limited for the construction of the LNG carriers…
China COSCO Holdings disassembled four vessels including two container vessels and two bulk carriers in April 2015, with the aggregate capacity of 261.8 thousand deadweight tons. The company realized losses from the disassembly of the vessels of approximately RMB59 million (USD9 million)…
