Latest News: 11 New Services Added to Panama Canal

The Panama Canal has welcomed 11 new services through the waterway since its expansion, the canal authority said, adding that this number is expected to grow further as global shipping lines are redrawn to take advantage of the canal’s economies of scale...

MSI: Boxship Sector Entering Calmer Waters

The containership sector has started 2017 in a positive mood, with each of the industry’s drivers – demand, supply and earnings – in a healthy shape. Maritime Strategies International (MSI) expects the sector to move into the next quarter with a reinforcement of this encouraging trend...

What Are the 3 Things Top Forwarders Do Better?

The line between what one kind of logistics company does and any other is more blurred than ever. Take the term 3PL – this is used by freight forwarders, carriers, and even warehouses as a way to describe themselves. None are wrong be each largely do very different things...

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Oversupply Keeps January Vessel Orders at Record Low

Global ordering activity has fallen to 26-year low in January 2017, shipbuilding data from Maritime & Trade by IHS Markit show.
Specifically, demand for bulk carriers and gas carriers has plummeted as there were no booked orders in January...

Western Bulk Chartering Eyes USD 18 Mn in Equity

Oslo-headquartered dry bulk shipping operator Western Bulk Chartering will launch an offering on February 27 to raise USD 18 million in an effort to strengthen the book equity and cash position.
The equity will be raised from the company’s existing shareholders in a private placement...

Imported Chinese Tools Dominate at First Vietnamese Hardware Expo

With consumers clearly familiar with Chinese brands, mainland manufacturers were out in force for the first Vietnam Hardware and Hand Tools Expo, with many optimistic that a rally in the energy sector would ensure future demand...

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Report: COSCO Corporation’s Full-Year Loss Widens

COSCO Corporation (Singapore) Limited, a shipbuilding, marine engineering and dry bulk shipping group, saw a net loss of SGD 976.1 million (USD 695.5 million) in 2016, against a net loss of SGD 914.8 million (USD 651.8 million) recorded in 2015, mainly due to losses in shipyard in shipping operations.

ICS: Shipping Vulnerable to Regional Action on Cutting CO2

Unless the International Maritime Organization (IMO) makes significant progress as part of its CO2 reduction strategy for the shipping sector the industry could be vulnerable to regional action, the Chairman of the International Chamber of Shipping, Esben Poulsson believes.

Highest Value US Export Products

Processed petroleum oils topped the list of highest value US export goods for 2016, followed by automotive and electronics products.
Also doing well were exported soya beans, diamonds, gold, corn and turbo-jets.

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Teekay LNG Sees 4Q Profit Rise. On Track to Secure Financing

Bermuda-headquartered owner and operator of liquefied natural gas carriers Teekay LNG Partners experienced a growth in its net income for the fourth quarter of 2016, which rose to USD 91.4 million from USD 77.1 million in the same period of 2015...

APM Terminals to Prepare Port Elizabeth for ULCVs

Dutch container terminal operator APM Terminals has increased its investment plans for the Port Elizabeth facility to USD 200 million from the initially planned USD 70 million in preparation for ultra large container vessels (ULCVs)...

Do Freight Forwarders Lag When It Comes to Technology Adoption?

The logistics industry gets little credit when it comes to the adoption of technology. It seems like there is a new technology startup appearing every day promising to “disrupt” the $3 trillion shipping industry – while at the same time criticizing shippers and logistics companies everywhere as luddites...

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Newbuildings Drive NCLH’s Profit Surge

US cruise operator Norwegian Cruise Line Holdings (NCLH) delivered a profit of USD 633.1 million in 2016, significantly higher than a profit of USD 427.1 million seen in 2015.
The group said that its net results increased due to the addition of Norwegian Cruise Line’s Norwegian Escape...

Top 2 Things to Consider When Shipping from China— Part Two

As an importer, there are many considerations when sourcing goods from China. When it comes to shipping, you want your cargo delivery safe, on time, with competitive freight cost. Choosing the best delivery option is completely ...

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LR2s to Reap the Fruits from 0.5 Pct Sulphur Cap

Clean product tankers are likely to benefit from the implementation of the global 0.5% sulphur emissions cap as of 2020 driven by the demand for new fuel oil, McQuilling Services brokerage and consultancy writes in its industry note...

March 27: Maersk to Get Decision on Hamburg Süd Deal by March 27

Danish shipping giant Maersk Line is scheduled to receive the EU antitrust regulator’s decision on the company’s plan to purchase the Germany-based Hamburg Süd by March 27, according to Reuters...

A Look at the Top 5 Challenges Facing the Freight Forwarding Industry Today

Freight forwarders are as nervous about the future as any other type of company these days – and for good reason. It’s hard to think of another industry facing more uncertainty with many of the macro-trends happening in the world right now...

Latest News: K Line Unit Becomes Part of Indian Shipowners’ Association

A subsidiary of Japan’s shipping company Kawasaki Kisen Kaisha, K Line (India) Shipping Private (KLISP), joined the Indian National Shipowners’ Association (INSA) at the end of January 2017...

A Look at the Top 5 Challenges Facing the Freight Forwarding Industry Today

Freight forwarders are as nervous about the future as any other type of company these days – and for good reason. It’s hard to think of another industry facing more uncertainty with many of the macro-trends happening in the world right now...

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Boluda Buys German Towage Operators

Spain’s Boluda Corporación Marítima has acquired the German towing company URAG and its subsidiaries URAG International and Lütgens & Reimers (L&R). The sale of the Germany’s oldest tug operators comes following the firms’ financial problems...

Report: Bright Outlook for LNG Trade

By 2020, the size of global LNG trade is projected to grow by 50% compared to volumes in 2014, driven particularly by LNG exports from Australia and the USA, oil and gas major Shell said in its first LNG Outlook...

High Value-added Maritime Services: Marine Insurance Opportunity

In common with nearly every other sector of the maritime service industry, the marine insurance sector is currently going through a very challenging time, largely as a consequence of an overabundance of ships and falling freight rates...

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GulfNav Settles VLCC Dispute
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has reached a final settlement with three lenders including DVB Bank SE, BNP Paribas and DNB Bank ASA related to very large crude carriers (VLCCs) sold in 2014.

Candy Sweets Exports by Country

Candy sweets exports by country totaled US$9.4 billion in 2015, up by an average 7% for all shippers of candy sweets over the five-year period starting in 2011. Year over year, the global value of exported candy sweets dipped -10.7% from 2014 to 2015...

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