Maersk to Increase Asia-Europe Freight Rates
The world's largest container shipping company Maersk Line, owned by A.P. Moller-Maersk, plans to increase freight rates for transporting containers from Asia to Northern Europe by $550 per 20-foot equivalent unit (TEU) from May 1, it said on Tuesday. The industry has been grappling with overcapacity and freight rates for shipping containers on the key route have plummeted 78 percent this year to a level widely widely seen as loss-making.
Submarine Bidders Step up Lobbying for Australia Tender
Japan's advanced attack Soryu submarine carried out drills with Australia's navy on Tuesday as a German company launched a campaign to advertise its expertise -ā¦
Quote of the Day: Subchapter M
As the American Waterways Operators (AWO) convenes itsSpring Convention & Annual Membership Meeting today through Thursday in Washington, D.C., at The Mandarin Oriental Hotel, today's "Quote of the Day" comes from AWO's Jennifer Carpenter, excerpted from her interview set to appear in the May 2016 edition of MarineNews. "It is absolutely time to get Subchapter M published. Jennifer A.
Chinese Lighthouse Operational in South China Sea
Another Chinese lighthouse has become operational on Zhubi Reef, a reef in the disputed Spratly Islands of the South China Sea. Chinaās Ministry of Transport held ceremony on April 5, 2016 signaling the lighthouseās completion and start of operation. Construction of the 55-meter-high lighthouse, which has a lantern of 4.5 meters in diameter on top and rotating lights inside, began in October, 2015.
Iran's Crude Oil Exports Show Rise in April
Iran has boosted its crude oil exports so far in April to around 1.75 million barrels per day, according to an industry source and shipping data, as OPEC's No. 3ā¦
Qatar Gas Transport Q1 Net Profit Rises 7.9%
Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a 7.9 percent rise in first-quarter net profit on Tuesday. The company made a net profit of 240 million riyals ($65.91 million) in the three months ending March 31, it said in a statement. This was up from a profit of 222.4 million riyals in the same period a year earlier. One analyst polled by Reuters had forecast Nakilat's first quarter net profit would be 234.2 million riyals.
GulfNav Unveils Expansion Plans
Gulf Navigation Holding PJSC (GulfNav), the Dubai-based shipping company, has announced in a press conference at Rose Rayhaan by Rotana today (Tuesday, April 19ā¦
IBIA Develops Bunker Course with South Shields Marine School
The International Bunker Industry Association, (IBIA) has joined with South Shields Marine School at South Tyneside College, to develop a course unit on bunkeringā¦
POSCO Plans Port Plant at Indiana-Jeffersonville
POSCO, a multinational company headquartered in Pohang, South Korea, and the fifth-largest steel producer in the world, has announced plans to build a wire rod processingā¦
Singapore Ranks #1 by Fleet Value per Capita
This week is Singapore Maritime Week 2016, when the city-state celebrates its role as the major hub for shipping in the region, Singapore has good reason to celebrate: according to mappingā¦
Capesize āUptickā Not Strong Enough for an Upsurge
April 19, 2016. The latest Dry Bulk Freight Forecaster from Maritime Strategies International* analyses the recent uptick in the Capesize market and considers theā¦
Transit Reservations for Expanded Panama Canal Begins
Today, the Panama Canal began accepting transit reservations for Neopanamax vessels for commercial transits through the Expanded Canal starting on June 27, 2016.
Containership Scrapping Gathers Momentum
After a slow start scrapping of containerships gathered momentum towards the end of 2015 and has continued into 2016, says Drewry Maritime Research. A record intakeā¦
ZIM to Enhance its Asia to US East Coast and Gulf Services
āZIM Integrated Shipping Services Ltd (ZIM) has announcd an enhanced Asia to US East Coast and Gulf service offering, with seven different weekly services, extensiveā¦
UK MCA Contract Award to PDMS
PDMS Maritime is delighted to announce a significant new contract with the UK's Maritime and Coastguard Agency (MCA) to provide a new integrated system to incorporateā¦
Bulgaria to Develop Ports with Quatar
Bulgaria will develop its port infrastructure in cooperation with Qatar, reports Standartnews. Bulgarian Prime Minister Boyko Borisov held a meeting with Qatarāsā¦
Cochin Shipyard, Samsung Heavy Pact for LNG Ship Project
Cochin Shipyard Limited (CSL) has signed a memorandum of understanding (MoU) with South Koreas second-largest shipbuilder, Samsung Heavy Industries (SHI) to teamā¦
Explosion Aboard Tanker Kills One
An explosion aboard a Korean-registered vessel Heung-A Pioneer killed one person and injured five others during its voyage down the the Tanjung Dawai coast, Malacca Straitā¦
Keppel's Profit Nosedives
Keppel Corp., the worldās largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segmentā¦
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