Orient Overseas International (OOI) has announced a profit attributable to equity holders for 2017 of US$137.7 million, compared to a loss of US$219.2 million in 2016. Earnings per ordinary share in 2017 was US22.0 cents, whereas loss per ordinary share in 2016 was US35…
Indian Register of Shipping (IRClass) classification society has received authorization as a Recognised Organisation (RO) from Netherlands’ flag administration. The authorization comes just months after IRClass received authorization from Europe’s largest flag Malta in December last year…
Danish shipping and logistics company DFDS has agreed to buy Turkish freight shipping operator U.N. Ro-Ro from Turkish private equity firms Actera Group and Esas Holdings for 950 million euros ($1.17 billion) on a debt-free basis. It marks a change of course for the Turkish company…
World goods trade will grow 4.4 percent this year, maintaining a rapid recovery that could nevertheless unravel if trade tensions escalate further, the World Trade Organization said in its annual forecast on Thursday. Global trade growth…
Danish A.P. Møller – Mærsk A/S has decided to establish a restricted shares plan for the members of its Executive Board in addition to the stock option plan established in 2017. 'In continuation of the adoption of revised General guidelines for incentive pay and Remuneration Policy for A…
DP World Australia announced the signing of a long-term partnership extension regarding service of CMA CGM Group vessels by DP World Australia at its terminals in Brisbane, Sydney, Melbourne and Fremantle. This partnership extension brings…
A surge in armed attacks against ships around West Africa is pushing up global levels of piracy and armed robbery at sea, warns the International Chamber of Commerce's International Maritime Bureau (IMB). IMB's Piracy Reporting Center recorded 66 incidents in the first quarter of 2018…
European shipowners strongly believe that the environmental committee of the IMO, MEPC, can reach an ambitious initial CO2 reduction strategy by the end of this week, building on the results of the meeting of the intersessional working group of last week…
Continuing its work to provide the region’s maritime and legal communities the opportunity to learn more about arbitration, the Emirates Maritime Arbitration Centre (EMAC) hosted its fourth breakfast session of 2018 on April 8, at its offices in DIFC…
China-based ship leasing and transportation businesses company COSCO Shipping Development announced its 2017 performance and stated that the company realized revenue of RMB 16.34bln (USD 2.59bln) in 2017, up 2.4% compared with that of 2016…
APL today announced the extension of Eagle GO. Guaranteed to its Trans-Atlantic and Oceania services networks. Shippers who opt for the premium offering will be guaranteed equipment and vessel space on board six US-bound services from 17 European ports…
White House economic adviser Larry Kudlow on Thursday said he expects the United States and China to work out their trade differences over time and that trade barriers likely 'will come down on both sides.' 'There is a process here. There's going to be some back and forth…
Team Tankers International announced that the acquisitions of Laurin Shipping AB and Anglo-Atlantic Steamship Company have been completed. The Bermuda-based chemical tanker company on 28 February 2018 and 23 March 2018 regarding its agreements…
Riverstone Holdings and The Carlyle Group jointly announce that they intend to sell HES International to a consortium of Macquarie Infrastructure and Real Assets (MIRA) & Goldman Sachs. Macquarie European Infrastructure Fund 5, which is managed by MIRA…
Vedanta Resources, controlled by billionaire Anil Agarwal, and other miners can transport already mined iron ore from Goa on which royalties have been paid, India's top court ruled on Wednesday, providing relief to the state's miners.India's…
