Christian M. Ingerslev appointed new CEO for Maersk Supply Service
DENMARK : A.P. Møller Holding A/S has acquired Maersk Supply Service A/S from A.P. Møller – Mærsk A/S, through closing of the transaction previously announced. In connection with the
Construction starts on COSCO’s 2nd 700 TEU electric containership
SHANGHAI : Chinese shipbuilder COSCO Shipping Heavy Industry (Yangzhou) has started the construction of the second 700 TEU electric containership for COSCO Shipping. As informed, the construction ceremony
HMM Q1 profits plunge 91%
SEOUL : HMM reported a first quarter profit for 2023 of KRW285bn ($212m) a drop of 91% compared to the same period in 2022. Revenues for Q1 2023 were KRW2.08trn
Yang Ming’s first quarter profit exceeds US$110 million
TAIWAN : Yang Ming reported first quarter revenues of US$1.22 billion and net profit of US$112 million with earnings per share (EPS) of NT$0.97. According to the Taiwanese
Iran seizes ‘Purity’-an oil tanker, US boosting military presence
TEHRAN : Iran has detained a third tanker in the space of 19 days, as the confrontation over the control of maritime assets in the Persian Gulf heats
PSA Sines welcomes largest Container Vessel in Portuguese history on its maiden voyage
SINES : The Liberian container vessel MSC TESSA set a milestone record by calling at the Port of Sines in Portugal on 14 April 2023, during its maiden
Baltic index logs worst day in three weeks on lower vessel rates
LONDON : The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell the most in three weeks on last Thursday, pressured
Panama Canal maintenance work aims to extend its life by a century
PANAMA : From their vantage point in cranes overlooking the Panama Canal, operators scrutinize the century-old walls of one of its locks as the high-pitched siren of a
Shipping starts on the Chittagong-Dubai route
DHAKA : Shipping has recently started in the Chittagong-Dubai route even as part of its debut journey, a ship carrying 121 export containers from Bangladesh left Chittagong Port
Dubai unveils World’s Largest Ocean Restoration and Ecotourism initiative
DUBAI : Dubai Reefs comprises a sustainable floating community dedicated to marine research, ecotourism, and regeneration. The assignment includes residential, retail, hospitality, educational, and research facilities. Dubai Reefs