Danaos Corporation reports its results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers. Danaos' CEO Dr. John Coustas says: 'As a result of the bankruptcy, we did not recognize…
Natural gas workers in Peru plan to hold an indefinite strike starting Dec. 29 that would disrupt production of the widely-used fuel as well as Royal Dutch Shell Plc's liquefied natural gas exports, the union SUTRAPPEC said Thursday. Some…
Vanessa Baugh has been elected to a one-year term as chairwoman of the governing board of Port Manatee, which also has chosen its two newest members – Priscilla Whisenant Trace and Stephen R. Jonsson – and continuing member Charles B. Smith as officers…
Buffalo Computer Graphics (BCG) Inc. said it has delivered additional simulators to longtime customer Columbia Pacific Maritime School (CPM), in Portland Ore. CPM ordered two additional radar/ARPA stations consisting of the brand new PC21X7 emulation…
In what has been a very difficult year for dry bulk, the values of regional fleets have changed quite a bit over 2016. Despite the down market, the Asian fleet is 7 percent more valuable at the end of the year. Since the Baltic Dry Index (BDI) low of 290 points in February this year…
A strong finish to the St. Lawrence Seaway’s 2016 shipping season is expected as freighters deliver raw materials and exports for North America’s industrial and agricultural sectors before the waterway closes December 31. 'The St. Lawrence…
“November was a good month for the export of agricultural products and shipments of aluminum ingots on the Great Lakes Seaway System,” said Betty Sutton, Administrator of the U.S. Saint Lawrence Seaway Development Corporation. “Under the binational trade development program known as ‘Highway H2O’…
A brand new liquefied natural gas (LNG)-fueled roll-on-roll-off freight vessel, Searoad Mersey II, has commenced service from its home port Devonport, in northern Tasmania, Australia. Touted by Bass Strait shipping and logistics firm SeaRoad as the “cleanest…
The medium range (MR) tanker market in the North Asia has firmed this week, with rates recovering from last month’s lowest levels in 2016 as charterers rushed to fix an influx of fresh cargoes before the holiday season. Rates for the key South Korea-Japan route grew by $20…
The Union Cabinet of India, chaired by the Prime Minister, Narendra Modi has approved the Major Port Authorities Bill, 2016, a move aimed at bringing greater efficiency and professionalism in governance of ports through full autonomy in decision…
Dr. Andrew Garrad, the co-founder of Garrad Hassan, has announced he will retire from DNV GL on December 23, 2016. Following the merger between DNV and GL Garrad Hassan two years ago, Andrew ceased to play an active operational role in the company…
Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw a reversal of trend in 4Q 2016, according to Drewry’s Benchmarking Club, a closed user group of 50 multinational retailers and manufacturers who closely monitor their contract freight rates…
Pelican Products, Inc. has appointed Phil Gyori as Group President. Bringing several years of executive and management experience to the new role, Gyori will report to CEO, Lyndon Faulkner work and head all three of Pelican’s divisions. Gyori…
GOST (Global Ocean Security Technologies), celebrating its 10th year in marine security, tracking, monitoring and video surveillance systems, announced that Brian Gifford has been tapped for the role of GOST National Sales Manager. A 30-year marine industry veteran and NMEA MEI…
According to the Port of Los Angeles, containerized cargo flowing through the port surpassed all-time volumes for a Western Hemisphere port for the second consecutive month. Port of Los Angeles terminals processed 877,564 Twenty-Foot Equivalent Units (TEUs)…
