Maersk 'BBB+' Ratings Put On CreditWatch Negative
• A.P. Moller – Maersk A/S (Maersk) recently announced its undertaking of a strategic and structural review of its business set-up. • We understand that the disposal…
$307,500 PSGP Funding for Hueneme Port
The Port of Hueneme announced that it will receive more than $307,500 in funds from the U.S. Department of Homeland Security (DHS) through the Fiscal Year 2016 Port Security Grant Program (PSGP).
India's SCI to Sail to Iran
India's biggest shipping company Shipping Corporation of India (SCI) will resume sailing to Iran this month after a hiatus of about four years, reports Reuters.
Ex-CEO of Daewoo Shipbuilding Grilled
Daewoo Shipbuilding & Marine Engineering (DSME) is being rocked by estimated trillions of won (billions of U.S. dollars) of accounting fraud amid the ongoing restructuring…
Germany Accedes to Treaty Covering Fishing Vessel Safety
International Maritime Organization (IMO)'s work to enhance fishing vessel safety received a boost today when Germany became the sixth State to accede to the 2012 Cape Town Agreement.
Maersk Announces New South Pacific Express
Maersk Line is launching a new ‘South Pacific Express’ service between Oceania and the West Coast of South America. "We are pleased to launch our new weekly ‘South…
New Maersk CEO Soren Skou Mulls Revenue Growth
New AP Moller-Maersk chief executive Soren Skou is aiming for revenue growth according to an interview with the Financial Times. He reveals the task ahead after succeeding Nils Andersen.
Italy Rescues 4,500 Migrants in Mediterranean in one day
ROME, July 5 (Reuters) - Some 4,500 migrants were rescued from rubber dinghies and a wooden boat in the Mediterranean on Tuesday, Italy's coast guard said, as the sea calmed after a rough weekend. More than 67,000 migrants have arrived in Italy by sea so far this year, the International Organisation for Migration (IOM) said before the coast guard reported the latest rescues. Arrivals are down from the same period of 2015, but the number of deaths on the perilous route has jumped.
Oil Sheds 5% on Brexit Worry, Supply Builds
NEW YORK, July 5 (Reuters) - Oil prices tumbled nearly 5 percent on Tuesday as investors worried that Britain's exit from the European Union would slow the global economy…
Verkuyl New CEO at Feadship Royal Van Lent Yard
Jan-Bart Verkuyl has been appointed the new CEO of Feadship’s Royal Van Lent yard, where he will have overall responsibility for the day to day operations of the current operation in Kaag, its subsidiaries and the second new yard in Amsterdam when it opens in 2018. Dick van Lent has stepped down from official duties after over forty years of service, although he will continue to offer his invaluable experience to the Feadship cause.
Rimorchiatori Augusta Orders Damen ASD Tug
Rimorchiatori Augusta and Damen Shipyards Group have recently signed a contract for an ASD 2810 tug for operations in the Sicilian port of Augusta. Rimorchiatori Augusta is a new venture for the Rimorchiatori Riuniti group and this will be the first new vessel for the company, demonstrating its commitment to future operations in the port. Rimorchiatori Augusta was formed following the purchase by Rimorchiatori Riuniti of Augustea Imprese Marittime and Salvataggi S.p.A.
Drewry: Container Shipping Rates Have Bottomed Out, Forecast to Rise
Container freight rates are forecast to rise modestly over the next 18 months from the all-time lows reached recently, but this will not be sufficient to rescue the industry from substantial losses in 2016, according to the latest Container Forecaster report published by global shipping consultancy Drewry. Liner shipping has had a torrid time so far in 2016 with spot freight rate volatility reaching unprecedented levels, while unit industry income has fallen to record lows.
Italians Seen Bidding for Greek Railways, Russians Uncertain
Italy's state railway is expected to bid for its Greek counterpart TRAINOSE, but Russian Railways (RZD) is less likely to do so, sources with direct knowledge of the matter told Reuters on Tuesday.
TTIP Free Trade Deal Between U.S. and EU at Dead End
A free trade deal being negotiated by the European Union and the United States is at a dead end and an agreement with Canada is also at risk, Italy's industry minister said on Tuesday.
Oriental Jubilee: World First with "SCRUBBER READY" Notation
DNV GL welcomed the Unique Shipping Group’s new vessel Oriental Jubilee into class when it was christened in Ulsan, Korea recently. The 84,000 cu. m. LPG carrier was built by Hyundai Heavy Industries (HHI) in Ulsan and is the first vessel to be awarded the DNV GL SCRUBBER READY notation. The SCRUBBER READY notation is an important development, as making space for new technologies and equipment onboard…
Baltic Index Rises on Panamax Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday as higher demand boosted rates for panamax vessels.
32 Wärtsilä Gensets for Chinese Vessels
Wärtsilä has been awarded the contract to supply newbuild Chinese container vessels with a total of 24 9-cylinder Wärtsilä 32 Auxpac generating sets. The engines will power six 21…
Refrigeration Plant Optimisation cuts Operational Cost for LSM
London Ship Managers (LSM) has made substantial savings across its fleet of 9000gt refrigerated cargo vessels following an extensive refrigerant plant optimisation…
USTC Delivers Near Record Profit
With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again…
Top Rolls-Royce Power Systems Suppliers Honored
Rolls-Royce Power Systems has honoured its five best suppliers for outstanding performance in quality, logistics, environmental protection and cooperation in 2015.
