Revised safety requirements to ensure new-build passenger ships remain afloat after a major incident are among a set of amendments set for adoption by International Maritime Organization (IMO)'s Maritime Safety Committee (MSC), which meets from 7-16 June…
Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port…
Ports in Saudi Arabia and the United Arab Emirates' barred ships flying Qatari flags after the two countries broke off diplomatic ties with Doha, in a move that raised fears of disruption to oil and gas shipments from the Gulf OPEC member. The…
Damen Shipyards Group recently visited Adelaide to further consolidate their partnership with ASC Shipbuilding and Forgacs Marine and Defence (Forgacs) (ASC Forgacs Shipbuilding) to build twelve Offshore Patrol Vessels (OPV) for the Australian…
Teekay Tankers has agreed to acquire all the remaining issued and outstanding shares of Tanker Investments (TIL), in a share-for-share merger at an exchange ratio of 3.30 Teekay Tankers Class A common shares for each TIL common share. Teekay Tankers currently owns 3…
Ecuador's new government on Wednesday said it would keep a promise to eliminate surcharges in June that had been applied to a third of all imports, a move likely to increase imports and consumption but hurt the balance sheet. Former president Rafael Correa imposed the surcharges…
Hapag-Lloyd shareholders approved all items on the agenda at today’s Annual General Meeting. In particular, the shareholders approved the creation of new authorised share capital. This is to be used for a planned capital increase of USD 400 million…
International Container Terminal Services (ICTSI) subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) has given up on its Nigerian port project due to delays in its execution, reports Nikkei. LICTSE and Lekki…
The relationship between global shipping regulation, through International Maritime Organization (IMO), and regional implementation can be strong and very effective. This was the message from IMO Secretary-General Kitack Lim, speaking at the European Maritime Safety Agency (EMSA) in Lisbon…
California State Lands Commission moving ahead with ballast water compliance protocols We are quickly approaching September 8, 2017, the date when the International Ballast Water Convention will enter into force requiring ships to manage…
Hapag-Lloyd and United Arab Shipping Company (UASC) merged yesterday (May 25, 2017). The merger between the two liner shipping companies was completed in Hamburg. With 230 vessels and a shared fleet capacity of approximately 1.6 million TEU…
Dubai-based shipping company Gulf Navigation Holding has reported a 39% growth in net profit at the end of the first quarter of 2017 compared to the same period in 2016. The result came at a stage while the company is witnessing a significant improvement in its performance…
German shipping line Hapag Lloyd is close to completing a merger with United Arab Shipping Company (UASC) after UASC's shareholders agreed terms to repay outstanding debts, sources familiar with the talks told Reuters.The deal to create the world's fifth-biggest shipping company…
Spain's lower house of parliament narrowly passed a long-delayed reform of port operations on Thursday, bringing regulation closer to that of the European Union though the overhaul has been slammed by unions which have threatened widespread strikes…
European Commission has exempted public support measures in a number of areas from prior Commission state aid control, said a press statement. This facilitates public investments in key infrastructure, namely ports and existing airports…
