The Italian shipbuilder Fincantieri signed Friday an agreement to buy 50% of the share capital of France's STX Shipyard, for 59.7 million euros. This takeover is part of the agreement in principle reached in September between France and Italy…
Despite a shift in demand in the chemical shipping sector, Navig8 Chemical Tankers ended the fourth quarter ended 31st December, 2017 with a widened net loss of USD 3.7mln. Revenue for 4Q17 was $43.3 mill, compared to $33.9 mill for 4Q16. “The…
RightShip, the world’s leading maritime risk management and environmental assessment organisation, has appointed its new CEO. Martin Crawford-Brunt will replace outgoing CEO Warwick Norman who announced his decision to step down from the position in 2017…
Swedish OSV owner Viking Supply Ships (VSS) has signed a final agreement to complete the restructuring of its finances as credit committees of all its senior lenders have approved the completed programme. According to the agreed and approved restructuring…
Marine consultancy and engineering provider, Houlder has announced the recruitment of Neil Walker to develop a Marine Assurance Services business.Walker was previously Europe Regional Manager for Global Maritime Consultancy Ltd. His experience…
The National Shipping Company of Saudi Arabia (Bahri) received a very large crude carrier (VLCC) named “Lawhah” on Thursday, the company said. 'Continuing its strong start to 2018, Bahri accepted the delivery of ‘Lawhah to further cement its market-dominant position in crude oil transportation…
The Stamford, Connecticut-based Dorian LPG has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gas shipping company entered into the USD 70 million deal that closed on January 31…
Chemical tankers are sailing into another challenging year, according to the London based chemical carrier, tank container and terminals group Stolt-Nielsen's Chief Executive Officer, Niels G. Stolt-Nielsen. 'Our outlook for the first half of 2018 remains essentially unchanged…
Wolfgang Freese, President Region North America, will be retiring after almost five decades with Hapag-Lloyd. Freese began his career in the shipping company in 1971 with an apprenticeship to become a shipping agent. In recent decades…
Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) said that conditions in the maritime shipping market were positive overall during the nine-month period of the fiscal year ending March 31, 2018. In the container shipping market, an upswing…
Beginning in April, Hamburg Süd is launching a new service network between Asia and South America West Coast, Mexico, Central America and the Caribbean.Concealed behind the service names ASPA and ASCA will then be a completely new product…
Egypt's United Arab Stevedoring Co. reported a H1 net loss after tax of EGP 13.7 million ($775,000) versus a loss of EGP 12.8 million ($724,000) a year ago.The company’s H1 revenue was EGP 7.6 million ($430,000) versus EGP 5.3 million ($300,000) a year ago.
GAC Logistics Sri Lanka and Hemas Transportation have opened a new 30,000m² container yard with a capacity of 6,000 TEUs at their joint integrated logistics facility in the Muthurajawela Industrial Zone, Wattala. It is the latest development in the partnership between the two companies…
French container shipping giant CMA CGM has set up a new global startup incubator to drive its digital strategy. Based in Marseilles, France, the incubator Ze Box is set to house a dozen of startups from around the world, starting in June this year…
Ningbo Marine Co Ltd: * Says it sees net profit for FY 2017 to increase by 70 percent * Says the net profit of FY 2016 was 88.4 million yuan * Comments that increased waterbailage income and toll related income of unit as main reasons for the forecast
