Combined the newly merged German shipping line Hapag Lloyd and Arab sector peer UASC have more than 4,800 sales and customer service personnel represented in 125 countries around the globe. Now as the shipping lines continue the transitional integration period…
Daewoo Shipbuilding & Marine Engineering (DSME) will sell the subsidiary of Mangalia Shipyard Romania to a Dutch builder Damen Shipyard Group, reported local media. Damen already owns in Romania a shipyard in Galati. Korea Economic Daily…
Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) announced the establishment of a holding company and an operating company, for the integration of the three companies' container shipping businesses…
Rating agency Standard & Poor’s confirmed Hapag-Lloyd’s B+ rating and took the company off its CreditWatch with future negative implications. Hapag-Lloyd was upgraded to Outlook Negative. The merger with UASC has added debt to Hapag-Lloyd’s capital structure…
DHT Holdings, Inc. said it has taken delivery of nine VLCCs acquired from the BW Group Limited, as well as the contracts for two VLCC newbuilds due for delivery in 2018. 'The delivery of the fleet acquired from BW has been conducted in a speedy and efficient manner…
Greece named a consortium led by Deutsche Invest Equity Partners as the winner of a majority stake in Thessaloniki Port, the country's second biggest, its privatisation agency (HRADF) said on Monday. Deutsche Invest has teamed up with France's…
An agreement between two container carrier giants will see CMA CGM acquire Maersk Line owned Mercosul Line, a player in Brazil’s domestic container shipping market. The price of the sale was not made public. The transaction is subject to…
Star Bulk Carriers, a global shipping company focusing on the transportation of dry bulk cargoes, has announced that it has entered into a definitive agreement to acquire a Supramax dry bulk carrier from an unaffiliated third party. The acquisition…
Nigeria's Sirius Petroleum has said that it is in talks with BP, regarding an offtake and pre-payment facility to support the financing of Sirius's proposed drilling programme on the Ororo field in Nigeria. According to the company, the…
Descartes Systems Group said it has acquired the assets of Philadelphia based PCSTrac, Inc., including certain related assets of Progressive Computer Services Inc. dba PCS Technologies. The purchase price for the cash acquisition was approximately $11…
Teekay Tankers has agreed to acquire all the remaining issued and outstanding shares of Tanker Investments (TIL), in a share-for-share merger at an exchange ratio of 3.30 Teekay Tankers Class A common shares for each TIL common share. Teekay Tankers currently owns 3…
German shipping company Hapag-Lloyd confirmed on Wednesday that it is looking to cut up to 12 percent of its almost 11,000 land-based workforce after completing its merger with Arab peer UASC last week. A spokesman at Hapag-Lloyd's Hamburg…
Hapag-Lloyd shareholders approved all items on the agenda at today’s Annual General Meeting. In particular, the shareholders approved the creation of new authorised share capital. This is to be used for a planned capital increase of USD 400 million…
At a special commission meeting held, the Port Canaveral Board has taken the final step to authorize the sale transaction of approximately 271 acres of land located on State Road 524 near Interstate 95 in Cocoa to Wal-Mart Stores East, LP. The…
Owner and operator of dry bulk and container vessels Navios Maritime Partners L.P. said it has acquired five containerships from Rickmers Maritime Trust Pte for $59 million. The five 4,250 TEU vessels are employed on charters with a net daily charter rate of $26…
