Logistec Corporation announced the expansion of its network of terminals through the strategic acquisition of Gulf Stream Marine. This transaction will allow Logistec to establish a stronghold in the U.S. Gulf, strengthen its position in a high-growth market in the United States…
U.S. President Donald Trump announced on Thursday he would impose tariffs of 25 percent on imported steel and 10 percent on aluminum, in a move the administration said would protect U.S. industry, but which critics said would fail to boost jobs and risked stoking a trade war with China…
Dubai's state-owned DP World said on Thursday it had sold a 19 percent stake in Somaliland's Port of Berbera to the government of Ethiopia. The port operator said it would retain a 51 percent stake in the port and that Somaliland would retain 30 percent…
Team Tankers International announced that it has entered into share purchase agreements to acquire all outstanding shares in each of Laurin Shipping and Anglo-Atlantic Steamship Company. In combination with associated ship purchases, the…
Germany's HSH Nordbank, formerly the world's largest ship financier, is being sold to private equity firms as it emerges from crippling writedowns and state bailouts amid the deepest sector slump on record. The bank's state owners on Wednesday…
Full-year operating profit up by 226 percent; full figures, guidance due on March 28. German container shipping firm Hapag-Lloyd on Wednesday reported its 2017 operating profit more than tripled, citing higher transport volumes and a slight recovery in freight rates…
The U.S. Senate's second highest-ranking Republican on Tuesday expressed doubt that Congress will pass legislation to increase infrastructure spending this year, citing time constraints. Senator John Cornyn, a Texas Republican, told reporters: 'I think it will (be) challenging…
Palau International Ship Registry (PISR) has expanded its technology offering by linking with Pole Star to offer a comprehensive sanctions compliance and risk management service for its fleet vessels.Pole Star’s Purple TRAC is a comprehensive…
Mitsui O.S.K. Lines, Ltd. signed a Memorandum of Understanding with the Far East Investment and Export Agency under the Ministry of the Russian Federation for the Development of the Far East to cooperate with each other in the development of the Northern Sea Route and the Russian Far East…
MMA Launches Third Graduate Degree, M.S. Maritime Business Management. The Massachusetts Maritime Academy has announced the launch of their third Graduate Degree, the Master of Science in Maritime Business Management. The MSMB program MMA…
The Federal Government of Nigeria is set to automate all shipping related administrative processes in order to reduce subjectivity and corruption, thereby promoting transparency in the Nigerian maritime industry. This was the consensus reached…
The United Arab Emirates (UAE) condemned Djibouti’s cancellation of DP World’s contract to run the Doraleh Container Terminal, calling it an “arbitrary” flouting of a signed agreement, said a report in Bloomberg. Media reports yesterday…
Qatar-based Nakilat (Qatar Gas Transport Company) has announced its financial results for the year ended December 31, 2017, with a net profit of QR 847 million (about USD 233 million). The earnings per share attained in 2017 was QR 1.53…
Singapore-based offshore shipbuilder Otto Marine is seeking insolvency protection from the High Court in a bid to salvage the company and stave off liquidation. According to a report in the Straits Times, crippled with a debt of US$877 million (S$1…
The International Transport Workers’ Federation's (ITF) expanded Fair Practices Committee Steering Group (FPC SG) met and approved the terms of the new International Bargaining Forum (IBF) on 23 February 2018 Agreement. In this it highlighted the new terms agreed in Article 4…
