China COSCO Falls to H1 Net Loss
China COSCO Holdings Co Ltd fell to a first-half loss hurt by a persistent slump in the global container market, the world's fourth largest container shipper said on Thursday.
Weak Freight Rates push Grindrod to H1 loss
Africa's biggest shipping group Grindrod reported a first-half loss on Thursday, pressured by low global growth and declining dry bulk shipping rates but it expects…
J.F. Lehman Acquires Oldenburg's Heavy Equipment Group
J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.
Wärtsilä Re-gasification system for Norwegian Ship Conversion
Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.
Foreship Establishes Tallinn Subsidiary
Naval architect and marine engineering company Foreship has created a wholly-owned subsidiary located in Tallinn to strengthen ties with shipowners, shipyards and…
New Crane Orders for Huisman
• 1 x 5,000mt Tub Mounted Crane for Allseas. The cranes will be built at the Huisman production facilities in The Netherlands, Czech Republic and China. Deliveries are scheduled for end 2017…
Restricted Area around Submarine Wreck in North Sea Reduced
The Danish Maritime Authority has changed the size of the area of prohibition that was established on 17 August in the North Sea off the coast at Esbjerg in connection…
New Container Equipment Prices to Fall to Record Lows
Cheaper production and material costs as well as weaker demand has driven the price of new container equipment down to record lows and is forecast to fall further during 2016…
South Asia Meet on Oil, Chemical Spill Contingency Plan
A meeting to update South Asia’s regional plan for oil and chemical pollution preparedness and response is underway in Male, Maldives (22-25 August), informs International…
Cosco Eyes Spanish port of Algeciras
Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate…
COSCO Delivers PSV and Two Jack-up Rigs
Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies…
UASC's Dismal Performance
United Arab Shipping Company (UASC), which is close to merging with Hapag-Lloyd, revealed enormous deficits and a massive debt in its key financial figures, says Alphaliner.
Navy Discovers Malaysian Tanker
Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.
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