Maersk Drilling Delivers $164m Profit
Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with…
Two MOL Subsidiaries' Names Changed
Mitsui O.S.K. Lines, Ltd. today announced name changes for two of its major wholly owned subsidiaries: MM HOLDINGS (AMERICAS) INC. to MOL (AMERICAS) HOLDINGS, INC.…
Kiel Port Marks 2,500th Cruise Ship Visit
Kiel is today (Saturday, 13th Aug.) celebrating the arrival of its 2,500th cruise ship visitor Cunard Line’s “Queen Elizabeth”, which berthed this morning to mark the event.
Fishermen Rescued from Liferaft West of Cape Blanco
The Coast Guard rescued three fishermen from a liferaft 8 miles west of Cape Blanco at 1:15 p.m., Sunday. The three fishermen, reportedly uninjured, are aboard a…
Salvors Assessing Grounded Transocean Drilling Rig
A team of eight salvors is now making its way on board the drilling rig Transocean Winner which is currently grounded off the Isle of Lewis. They’ll now be carrying…
Maersk Cautions on U.S. Protectionism
Danish conglomerate A. P. Moeller-Maersk A/S, the world’s largest container shipping company, has voiced its concern as a potential shift in U.S. policy threatens to reduce global trade…
Kogas Sign MoU for LNG Terminal in Mexico
South Korea’s Kogas (Korea Gas Corporation) has signed a memorandum of understanding (MoU) with the Mexican state of Yucatan to construct an liquefied natural gas…
Has the Link between OPEC Production and VLCC Rates broken?
For the tanker market, in particular for VLCCs, increasing Middle East OPEC production is typically a good sign. Poten and Partners in its Shipbrokers Reports says…
Gadkari Flags off Two Vessels from Varanasi, India
A trial run of two cargo vessels from the Aghoreshwar Bhagwan Ram Ghat Varanasi. The vessels viz. MV Joy Basudev (capacity 1400 tons) and MV V.V Giri (capacity 300 tons)…
Atlantic Hurricane Season to be Stronger than Expected
In its updated 2016 Atlantic Hurricane Season Outlook, NOAA calls for a higher likelihood of a near-normal or above-normal season, and decreases the chance of a below-normal season to only 15 percent…
India to Establish New Multi Modal Terminal in Varanasi
Indian Shipping Minister Nitin Gadkari has layed the foundation stone for a multi-modal terminal at Varanasi. The phase-I of the multi-modal terminal will be built…
Bahri Secures $133m Funding for Five Ships
National Shipping Company of Saudi Arabia (Bahri) said on Sunday that a subsidiary had secured $133.2 million in Islamic financing to purchase five chemical tankers.
Biggest Cruise Ship to Enter Lerwick Harbor
The record for the biggest cruise ship into Lerwick Harbour will be broken on Today (Sunday) when Celebrity Silhouette enters the Shetland port on a 14-nights British Isles Cruise.
Port of Long Beach Cargo Dips
Container volume at the Port of Long Beach was down 7.7 percent in July compared to the same month in 2015, when harbor terminals handled a record amount of cargo.
Sete Brasil to seek up to $5 bln funding
Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months…
APM Terminals Pipavav Q1 Net Zooms 60%
APM Terminals Pipavav’s (Gujarat Pipavav Port Ltd) today posted a 60 per cent rise in standalone net profit to INR 59.75 crore for the first quarter ended June 30, 2016 on the back of lower expenses.
Crystal Serenity Goes to Arctic
The cruise ship MV Crystal Serenity, owned by the US-based Crystal Cruises, is scheduled to set sail from Seward, Alaska to New York on a 32 day, 1,500 km journey…
Maersk Paints a Gloomy Picure
Danish shipping conglomerate A.P. Moeller-Maersk A/S has reported a plunge in profits in the second quarter in the face of tough market conditions. Maersk's quarterly…
A Bumpy Ride: China's New Maritime Silk Route
China has been pressing ahead with its ‘One Belt, One Road’ (OBOR) initiative – comprised of the Silk Road Economic Belt and the 21st-century Maritime Silk Road…
CMA CGM Launches New EURAF 6 Service
CMA CGM Group has launched its new service EURAF 6 by cooperating with a partner under a slot swap agreement. Enhanced service coverage with a second loop direct…
