The HCI Group and two other investors have taken over a total of thirteen ships from the loan portfolio of HSH Nordbank. The HCI Group structured the portfolio acquisition and is investing a substantial amount itself. The portfolio consists of thirteen feeder ships of between 800 and 1…
On Thursday, May 19, 2016, the Port of Palm Beach Board of Commissioners agreed to exclude funding for a proposed U.S. Army Corps of Engineers Lake Worth Inlet navigational improvement project from the port’s Master Plan Update.The ACOE project…
Inchcape Shipping Services (ISS) has demonstrated its continued commitment to compliance with the appointment of Karen Moore as Global Compliance Officer. Karen joins from financial markets and technology company, NASDAQ, where she was Associate General Counsel…
South Korea's largest shipping line Hanjin Shipping said bondholders agreed to extend the maturity of Won35.8bn ($30.1m) in debts by four months to September 23 this year, in a major step to help the company avoid bankruptcy. According to a report in the Korea Herald…
Inchcape Shipping Services (ISS), a maritime and logistics service provider, has demonstrated its continued commitment to compliance with the appointment of Karen Moore as Global Compliance Officer. Moore joins from financial markets and technology company…
APL today announced that it has reduced its fleet carbon dioxide emissions by 45.5% in 2015, compared to its emissions level in 2009. This achievement marks APL’s highest carbon dioxide emissions reduction in the last six years. “APL has…
In order to get through the crisis of global shipping, Germany-based container line Hapag-Lloyd will ally with United Arab Shipping Company (UASC). HL is in talks to merge with UASC, representing the latest move in container shipping corporate consolidation…
CMA CGM has increased the capacity on its West Coast Feeder service via Liverpool to 2200 TEU from 900 TEU. M.V. Nicolas Delmas began calling at the port in April. The service begins in Antwerp and also calls at Greenock, Belfast, Dublin and Le Havre…
GAC North America has signaled its strategic focus on the South American oil and gas sector with the appointment of Carlos Arrieta as Regional Commercial Director – Oil and Gas, responsible for developing its network of agents and general cargo throughout the region…
The Dewan Rakyat (House of Representatives) of the 13th Parliament of Malaysia has passed the Merchant Shipping Ordinance (Amendment) Bill 2016 aimed at standardizing national maritime law with the international maritime community, reports Bernama…
InterManager has welcomed the joint BIMCO/ICS Manpower Report, but says it should act as a wake-up call for the industry to address the issue of the accelerating shortage of seafarers.Speaking soon after the report was published, InterManager Secretary-General…
The Bureau of Safety and Environmental Enforcement is continuing its investigation of the oil release from Shell Offshore Inc.’s Glider Field on May 12. The Glider Field, located approximately 97 miles south of Port Fourchon, LA, includes subsea…
Ferry operators now eligible for New Building Canada funding Ferry operators across Canada applaud new changes made by the federal government that will allow infrastructure projects related to ferries to be eligible for funding under the New Building Canada Fund…
Oslo-based LNG shipping company, Awilco LNG, reported a first quarter freight income of US$8.9 million, down from $12.1 million in the same quarter the previous year. The pure play LNG transportation provider said that an oversupply of shipping in the carrier market…
India has approached Turkey's Halkbank to faciliate the payment of $6.5 billion to Iran, which it owes for crude oil imports, Iran's Fars news agency quoted India's ambassador to Tehran as saying on Saturday.'The Indian government is seeking to pay the $6…
