The Baltic Exchange's main sea freight index fell to over three-week low due to sagging demand for larger capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 7 points…
Brazilian farmers in top soy state Mato Grosso signed a memorandum of understanding with the Panama Canal Authority to evaluate ways to cut transportation costs and boost Brazilian grain volumes using the waterway, the authority's chief administrator said…
Container shipping group CMA CGM said it expects a rebound in the industry to continue this year on the back of brisk economic growth, playing down the immediate impact of geopolitical tensions. French-based CMA CGM, one of the world's biggest container lines…
Port Manatee holds promise as a trade gateway for German companies, according to Germany’s Miami-based consul general, who visited the Florida Gulf Coast port Thursday [March 15].“Port Manatee is an important part of Florida infrastructure…
The United States has set conditions for scrapping its planned punitive tariffs on steel and aluminum imports from Europe, German magazine Der Spiegel reported, including capping U.S.-bound exports of the metals at 2017 levels. The European…
Oslo based MPC Container Ships ASA said it has reached a deal to acquire five feeder containerships presently managed and operated by Simatech Shipping & Forwarding L.L.C., Dubai for a total purchase price of $41.9 million in cash. MPC…
Importers are buying U.S. corn at the fastest pace since the mid-1990s, according to U.S. government data, as tightening stocks in Latin America prompt a rush to purchase cargoes of the grain from animal feeders worldwide. A deepening drought in Argentina and limited corn supplies in Brazil…
Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close…
In McQuilling Services’ March Short-Term Outlook, we expressed our expectation of higher crude demand out of the Arabian Gulf in the near term due to recent weakness in Dubai crude pricing. In our report, we note the expansion of the Brent-Dubai crude differential…
The largest ever containership to call at the port on the Elbe berthed in Hamburg early on Thursday morning, March 15.The oceangoing giant CMA CGM Antoine de Saint Exupery made its maiden call at the Port of Hamburg's HHLA Container Terminal…
Pakistan Customs has taken delivery of two Damen Stan Patrol 1605 FRP patrol boats. The handover ceremony took place on March 10 at Karachi Shipyard & Engineering Works Ltd (KS&EW). The celebrationwas attended by distinguished guests including Dr Miftah Ismail…
Global trade enabler DP World today announces strong financial results for the twelve months ending 31 December 2017. The company delivered earnings in excess of $1 billion and above 50% EBITDA margin for the full year.Revenue grew 13.2% and adjusted EBITDA increased 9…
Mitsui O.S.K. Lines, Ltd. announced the graduation of 87 students in the seventh and final class of the '3rd Year Program,' which MOL introduced with the goal of developing crew members who will uphold strict safety standards in vessel operation…
The Panama Canal signed a Memorandum of Understanding (MOU) in Cuiabá, Brazil that will promote the Panama Canal's position as a route for grain shipments traveling from northern Brazil to ports accessed in the Pacific Ocean. The agreement…
During 2017 Wrist Ship Supply kept working with customers on enhancing their profitability and continued the steady expansion of its global business platform. Most shipping segments were depressed by low rates last year, and activity in…
