Ocean freight rates record higher levels in Red Sea crisis
MUMBAI : Ocean freight rates are heading to record high levels with global events like the Red Sea crisis; port congestion especially in the Middle East and Asia
DEE Development Services expects New Gujarat Facility to lower logistic costs
KUTCH : DEE Development Services Ltd., which is set to open its public offering next Wednesday, will see its logistic costs ease as its New Gujarat Facility, which
Indian Govt restricts gold jewellery imports from all countries except UAE
NEW DELHI : The import of gold in the form of jewellery has been restricted from all countries barring the United Arab Emirates (UAE), as per a notification
MSC reinstates Mustang Service between Asia to USWC
GENEVA : MSC is pleased to announce the reinstatement of its Mustang service as of week 28 for departure in Asia. The Mustang service will provide increased capacity
Saudi Global Ports celebrates 10 million TEUs milestone
RIYADH : Saudi Global Ports (SGP), a member of the PSA Group, recently crossed its 10 millionth TEU milestone in May since the start of its commercial operations
Newbuilding prices climb 3% to highest level in 16 years : BIMCO
LONDON : “Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020
Port of Salalah announces $300 million container handling expansion
OMAN : The Port of Salalah has announced that it’s $300 million expansion plan is on track, aiming to expand annual container handling capacity from 5 million to
Saudi Red Sea Authority & ECZA Sign a Cooperation Agreement
RIYADH : Saudi Red Sea Authority (SRSA) signed a cooperation agreement with the Economic Cities and Special Zones Authority (ECZA), to cooperate, integrate, and coordinate in facilitating procedures
Berg secures Louis Dreyfus Armateurs propulsion package for wind-assisted Airbus ro-ro vessels
SHANGHAI : BERG Propulsion has won a contract covering the hybrid propulsion solution that ensure three wind-assisted Louis Dreyfus Armateurs (LDA) ro-ro vessels will maximize efficiency regardless of
Qupital Welcomes HSBC and Citi as Senior Investors of Securitization Facility
HONG KONG : Qupital, Asia’s leading data-driven fintech platform specializing in supply chain financing solutions for e-commerce businesses, is pleased to announce the successful refinancing of its securitization
