Port operator DP World has hired banks to arrange a series of investor meetings ahead of a potential issue of 10-year U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.DP World, majority owned by the Dubai government…
Britain's detention of an Iranian tanker last week was a threatening and incorrect action, Iran's Defence Minister Amir Hatami said on Monday in a speech broadcast live on state television.Royal Marines seized the tanker on Thursday for trying…
As North America’s larger ports continue to increase capacity, dredging and air drafts are receiving the attention they deserve. As bigger post-Panamax boxships begin to arrive, none of that means anything unless truck turn times and TEU moves per hour can be improved…
Sweden's Port of Gävle will be included on the rotation of the newly launched Unifeeder Sweden-Poland Service.According to Yilport Gavle, this is the first commercial feeder service ever to directly connect the Swedish east coast to Poland with a weekly service…
German container shipping company Hapag-Lloyd has decided to implement a global vessel risk surcharge (VRS) following recent maritime incidents in the Gulf of Oman.The container line said that operating costs for its services have increased…
APM Terminals Gothenburg has managed to cut quay crane waiting times by as much as 90% by implementing new standard operational procedures for container lashing. This translates to a reduction from 38 minutes to just four.Using ‘Lean’ methodology…
The European Investment Bank (EIB) has signed a EUR 14 million venture loan agreement with Sweden’s Cimco Marine AB to co-finance its innovation and growth investments.As per the unsecured credit facility agreement, the EIB will finance up to…
Cimco Marine AB, the maker of OXE Diesel, the world's first diesel outboard engine in the high-power segment, announced that Per Wigren has been appointed chief technology officer (CTO).The Swedish company said that Per Wigren assumed the role of CTO at Cimco Marine AB on July 1…
Dutch seaports processed a record volume of goods in 2018 as the throughput of containers increased the most, reported the Central Bureau of Statistics (CBS).According to Statistics Netherlands (CBS), the total volume of incoming and outgoing…
South Korea’s Hanjin Heavy Industries & Construction Co. Ltd. (HHIC) has partnered with Yuchengco group-led construction firm EEI Corp in Philippines.In a stock exchange announcement, EEI said that it formed a partnership with HHIC for upcoming construction projects…
Azerbaijan Caspian Shipping Company (ASCO) has hosted a meeting with the guests from the United States of America.The meeting was attended by Robert Sekuta, former US Ambassador Extraordinary and Plenipotentiary to Azerbaijan in 2015-2018, former Read Admiral Ron MacLaren…
More women are joining the maritime ranks in a variety of professions within the industry, said International Maritime Organization (IMO).To encourage this trend, IMO supported a training course aimed at female officials from maritime and port authorities…
Estonian shipping company Tallink Tallink Grupp has borrowed EUR 197.6 million to finance the new EUR 247 million LNG powered fast ferry currently under construction in Rauma Marine Constructions Oy.The loan agreement was concluded between AS Tallink Grupp subsidiary Tallink Superfast Ltd…
Panama's Maritime Authority said on Thursday that Grace 1, a giant Iranian oil tanker seized by British Royal Marines in Gibraltar, was no longer listed in Panama's international boat registry as of May 29.The Panamanian authority added that…
A.P. Moller-Maersk have joined other major container shipping companies in increasing prices for sending containers into the Persian Gulf in response to the heightened risk of military conflict in the area.Attacks on two oil tankers in the Gulf…
