Hong Kong-based container shipping and logistics service company Orient Overseas Container Line said that its revenue in 2018 increased by 9.9% to USD 5.96 billion for all services, compared to USD 5.42 billion reported in the previous year…
Global ports operator Cosco Shipping Ports acquiring 60% stake in Terminales Portuarios Chancay (Chancay Terminal) from Volcan Compañía Minera for a total consideration of US$225million.Zhang Wei, Vice Chairman and Managing Director of Cosco Shipping Ports and José Picasso…
Dubai-based port operator DP World says it has acquired additional assets in DP World Australia (DPWA), giving the firm a majority stake in its Australian terminals.The percentage of what has been acquired from Gateway Infrastructure Investments…
British ferry and shipping freight operator P&O will re-flag its entire UK registered fleet to Cyprus ahead of Britain’s departure from the European Union to keep tax arrangements in the bloc, the company said on Tuesday.Last month P&O said…
German shipping group Hamburg Süd announced that it is selling its bulk shipping business to Singapore’s China Navigation Company (CNCo), part of the Swire Group, as it focusses on its liner business with its two container shipping brands, Hamburg Süd and Aliança…
Dutch ship owner Holland Maas Scheepvaart Beheer II BV has been fined 780.000 EUR and paid a settlement of 2.2 million EUR - totaling to a price tag of almost 3 million EUR - for having beached a ship for scrapping in India.According to a press release from NGO Shipbreaking Platform…
The Coast Guard interdicted 66 migrants in the last 72-hours in five separate events near Puerto Rico.The Coast Guard, and federal and Commonwealth of Puerto Rico law enforcement partners have interdicted more than 380 migrants and stopped several narcotics smuggling attempts since October of 2018…
Diana Containerships (NASDAQ: DCIX), a shipping company specializing in the ownership of containerships, announced that it has received written notification from The Nasdaq Stock Market LLC dated January 10, 2019, indicating that because the…
Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month.The vessels left Galveston…
The Port of Everett has achieved another vital step in reducing congestion on the I-5 corridor while moving more freight in the region. The Port was notified this month that it received designation by the U.S. Secretary of Transportation as…
Royal Australian Navy frigate HMAS Ballarat has seized more than 3.1 tonnes of hashish worth about $155 million* during a boarding operation that took place 8-9 January 2019 in international waters in the Arabian Sea.The fishing vessel, known as a dhow…
International Transport Intermediaries Club (ITIC) recently represented a shipbroker accused by an owner of breach of warranty of authority in a dispute arising under a non-performing contract of affreightment (CoA).The shipbrokers had negotiated…
Port operator Associated British Ports (ABP) said on Monday it had boosted investments at its Port of Hull, bringing the total to 250 million pounds ($321.78 million) since the country's 2016 decision to leave the European Union.ABP said it…
Norwegean shipping company Grieg Star and investment management firm Maas Capital have established a joint venture for ownership of Supramax and Ultramax vessels.The new company is named GriegMaas AS, said the ship owner, manager and operator for over 40 open hatch and conventional bulk vessels…
Two Chinese shipbuilding companies have expressed intent to invest in the largest Philippine shipyard, debt-riddled Hanjin Heavy Industries and Construction Philippines, the Department of Trade Industry (DTI) said.Drowning in debt, the Philippine business of the Hanjin Group of South Korea…
