Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CMA CGM, Marseille, for one of its Panamax container vessels…
Golar LNG Partners announced that it has entered into a purchase and sale for the acquisition from Golar LNG Limited and affiliates of Keppel Shipyard and Black and Veatch of equity interests in Golar Hilli LLC, which will, on the closing date of the Acquisition…
Maersk Line, the world's biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry. Moving into traditional bank territory and further down the shipping value chain…
Danish shipping group A.P. Moller Maersk reported an unexpected net loss in the second quarter due to terminal and tanker impairment charges, but said it was upbeat on the container shipping outlook. Maersk also said it expected a $200 million…
Iraq's parliament on Tuesday questioned acting Trade Minister Salman al-Jumali over corruption allegations linked to the ministry, mostly stemming from a deal to import Indian rice in 2016. The minister, a Sunni Muslim in a government dominated by Shi'ites…
South Korea's Hyundai Merchant Marine (HMM) suffered an operating deficit of USD 112 million in the second quarter, the company said in a regulatory filing. The third quarter will bring much better results, says the carrier. Yonhap News…
Federal Maritime Commissioner William P. Doyle issued a statement addressing THE Alliance’s filing of an amendment to add further detail to protections in the event of an insolvency. I am pleased that The Alliance is seeking Federal Maritime Commission authority to form…
Argentina's government published a decree on Thursday eliminating or reducing tariffs on imports of used equipment for oil and natural gas companies, a measure long sought by the industry, but it included requirements to buy some locally produced goods…
Hanjin Shipping Co., the South Korean shipping company that caused havoc when it filed for bankruptcy, is struggling to raise enough money to repay $10.5 billion in creditor claims, WSJ reported. Hanjin has raised only $220 million by selling ships…
Egypt is looking to reverse a series of bans on its agricultural products that has hit one of its most promising export sectors, Abdel Hamid al-Demerdash, the head of Egypt's Agriculture Export Council told Reuters. Egyptian crops from strawberries…
The Marshall Islands-based shipping company Navios Maritime Containers has closed the acquisition of the remaining four container vessels and as a result has completed the acquisition of the entire 14 container vessels fleet. Navios Containers…
UK-based global metals and engineering firm controlled by billionaire Sanjeev Gupta Liberty House Group is planning to buy-out India's debt-laden ABG Shipyard. According to a report in the Business Standard, Liberty House has proposed a…
India's state-owned Indian Oil Corporation Ltd. on Friday said it will acquire up to 50 percent stake in Adani Group-backed Gujarat State Petroleum Corp (GSPC) Mundra LNG import terminal in Gujarat for an estimated INR 756 crore (USD 118 million)…
South Korea’s 14 container carriers will sign a memorandum of understanding next Tuesday to establish the Korea Shipping Partnership (KSP), the Korea Shipowners’ Association said, reported Pulse News. The move is to help the nation better…
India's Essar Ports has signed a 30-year concession agreement with the Government of Mozambique to develop a new coal terminal at Beira Port, as part of a Public Private Partnership (PPP) project. The project will be executed on Design…
