China’s Cosco Shipping Holdings Co received the clearance of a U.S. national-security review body, removing a major overhang of the USD 6.3 billion deal of taking over Orient Overseas International Ltd (OOCL). According to a Reuters' report…
Total and Direct Energie announce the completion of the acquisition today by Total of 73.04% of the share capital of Direct Energie, for 42 euros per share, representing approximately 1.4 billion euros. This acquisition, which is subsequent…
You might call 2017 a banner year for California ports. San Pedro Bay, home to the nation's leading twin ports of Los Angeles and Long Beach exceeded their pre-recession peaks. Collectively, San Pedro Bay was up 7.2% from its 2006 peak. It took…
China says forced to respond to U.S. tariffs. The United States and China slapped tit-for-tat duties on $34 billion worth of each other's imports on Friday, with Beijing accusing Washington of triggering the 'largest-scale trade war' as…
Cost growth returned to seafaring in 2018 and is projected to accelerate moderately on recovering vessel earnings and continued shortfall in officer numbers, according to the latest Manning Annual Review and Forecast report published by global shipping consultancy Drewry…
Emirates Maritime Arbitration Centre (EMAC) appoints Jyothi Mani to its expanding Case Management team.“Jyothi brings with her a great deal of case handling experience with a detailed know how as to arbitration and mediation procedures.…
Germany’s Hamburger Hafen und Logistik AG (HHLA) has completed the acquisition of Estonia’s largest terminal operator, Transiidikeskuse AS (TK). The last conditions that the sales contract dated 26 March 2018 was subject to were recently fulfilled…
Kalmar, part of Cargotec, has signed an agreement to sell its rough terrain handling business, Kalmar Rough Terrain Center (KRTC), to the management and a Texas-based investment group, led by Independent Bankers Capital Funds (IBCF) and Congruent Investment Partners…
Navios Maritime Midstream Partners, an owner and operator of tanker vessels, announced today that its board of directors has received a proposal from Navios Maritime Acquisition Corporation pursuant to which Navios Acquisition would acquire…
Harbor Commissioners for the ports of Long Beach and Los Angeles have approved measures to ensure new trucks just entering drayage service meet the cleanest engine standards, a step designed to accelerate the reduction of harmful air emissions from trucks…
A vessel carrying over 70,000 tonnes of U.S. soybeans is expected to head towards Singapore after apparently offloading some of its cargo at the Chinese port of Tianjin, according to shipping data on Thomson Reuters Eikon The Aeolian Fortune…
India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company…
Finnish dry bulker ESL ShippingLtd, a shipping company fully owned by Aspo Group, is going to acquire all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB (AtoB@C) that offer shipping services. The enterprise value is EUR 30 million…
German container carrier Hapag-Lloyd has cut its profit outlook for the year 2018 amid a challenging and volatile environment for ocean carriers. A Reuters report quoted the shipper saying that freight rates had recovered more slowly than expected while fuel and charter costs had ballooned…
Shares in German container shipping company Hapag Lloyd plunged 19 pct, hitting 1-year low, after the company cut its 2018 outlook. The Company cites 'unexpectedly significant' and continuing increase in operational costs, especially with…
