Maersk Line Slashes Costs, Jobs on Asia-Europe Slowdown
Maersk Line, the world's largest container shipping company, said on Wednesday it will slash costs, cut staff by almost a fifth and pull out of vessel orders as trade along the busiest routes in the world, from Asia to Europe, slows down. The business, part of the A.P. Moller-Maersk conglomerate, is a bellwether for global trade and the shipping industry, which is run mainly by unlisted companies not required to make their assessments or financial circumstances public.
Kizad Attracts Investment from Binghatti
Abu Dhabi Ports―the master developer, operator and manager of ports and industrial zones in the Emirate―has signed a standard Musataha agreement (SMA) with Binghatti Holding to set up a new food and beverage (F&B) production plant at Khalifa Industrial Zone Abu Dhabi (Kizad). Binghatti is an international investment holding company that focuses on high-growth potential projects within the real estate, construction and FMCG (fast-moving consumer goods) industries.
Golar and WAGL Ink Ghana FSRU Contract
Golar LNG Limited announced today that it has executed a firm contract to provide West African Gas Limited (WAGL) with floating storage and regasification unit (FSRU)…
Transas VTMS for the Visakhapatnam Port
India’s Visakhapatnam Port has selected Transas as its VTMS provider. According to the project schedule, the new system will be fully operational by the end of 2015. The Visakhapatnam Port is located on the east coast of India between Chennai and Kolkata and has three main harbors. Being one of the most important hubs in South Asia, the Visakhapatnam Port is currently undergoing modernization and expansion.
Rickmers Upgrades VSAT for Entire Fleet
Rickmers Group will migrate to multiband VSAT (Very Small Aperture Terminal) from Marlink Maritime VSAT for its fleet of 90+ vessels including containerships, bulk carriers and heavy lift vessels, in a move that aims to improve operational efficiency through better integration of ship and shore side networks in addition to providing internet connectivity for crew welfare. High bandwidth availability…
U.S: No ASEAN South China Sea Consensus is Telling
The inability of a forum of Southeast Asian defence ministers to agree on a joint statement at the end of a forum on Wednesday reflects their concern about China's activity in the South China Sea…
China Downplays South China Sea 'freedom of navigation'
The issue of freedom of navigation in the South China Sea should not be "hyped up" or used as an excuse for provocation, China's defence minister said on Wednesday, in response to recent U.S.
NTSB Issues Update on El Faro Investigation
The National Transportation Safety Board has contracted with the U.S. Navy to locate the El Faro, document the wreckage and debris field and recover the voyage data recorder (VDR).
Virdi Joins GMS' Dubai Operations
GMS is proud to announce that Ms. Jasvinder Virdi has joined the company to further develop its growth within the industry. Jasvinder comes with a wealth of determination and enthusiasm…
APM Terminals Diversifies into Non-containerised Cargo
The APM Terminals Global Terminal Network will enter China’s fastgrowing grain import market as part of a joint venture with Qingdao Port International, continuing…
BMT – DoT Partnership Extended
BMT JFA Consultants, together with sister company BMT Oceanica, subsidiaries of BMT Group (BMT), have announced that the Western Australian Department of Transport…
Clean Energy Bunkers Isla Bella with LNG
Clean Energy Fuels Corp. participated in a little history last month when it supported General Dynamics (GD) NASSCO’s launch of the Isla Bella container ship, the…
UPS to Build Facility at DP World London Gateway
DP World London Gateway and UPS today announced plans to build a new 32,000 square metre package sorting and delivery facility at the logistics site in the south east of England.
Asean Sets up Maritime Crisis Hotline
The 10-member Association of South East Asian Nations (Asean) has established a hotline to resolve maritime disputes and to ensure the line of communications between…
Japan Delivers 2 Used Ships to Vietnam
Japan delivered on Tuesday two used ships to the Vietnamese Coast Guard to help the Southeast Asian country strengthen maritime security, reports the Japan Times.
Yangzijiang Secures Two VLGC Orders
The Singapore-listed and China-based shipbuilder Yangzijiang Shipbuilding has secured new orders worth $730m, including two very large gas carriers, between September and October.
IDF's First-Ever Submarine Rescue Exercise
Israeli navy (IDF) holds special exercises with their Italian counterparts in order to perfect joint methods for rescuing the crew of a sunken submarine, reports Ynet.
Seaspan Reports Strong Revenue Growth
Seaspan Corporation, a large owner of containerships that charters vessels to liner companies, improved its revenue as well as net result in the first nine months of 2015…
Jiangnan Bags 2 VLGC Order from Naftomar
Naftomar Shipping And Trading Co. Ltd. Inc., which is engaged in shipping and trading liquid petroleum gas, contracted China’s Jiangnan Shipyard to build two Very Large Gas Carriers (VLGC)…
IPO: Hapag-Lloyd Raises $300 Million
Hapag-Lloyd AG, the German container shipping company, has succeeded in completing its initial public offering (IPO), after a hard campaign in which the outcome sometimes looked in doubt.
