COSCO to take stake in Hamburg Port terminal
BERLIN : Germany has agreed to let Chinese Shipping giant COSCO buy a stake in a container terminal at Hamburg’s Port. The deal was originally given the green
Panama Canal imposes Shipping Restrictions to cope with Worsening Drought
PANAMA : A severe drought affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of
ONE adds Hazira call to AIM Service
SINGAPORE : Ocean Network Express (ONE) announced that AIM weekly service will change its port rotation, by adding Hazira call. The new rotation will take effect as from
MSC charts course for ammonia-powered containership with industry majors
GENEVA : The world’s largest container shipping company Mediterranean Shipping Company (MSC) has signed a Memorandum of Understanding (Mou) with Lloyd’s Register (LR), Shanghai Merchant Ship Design &
ONE & Wan Hai Lines pay civil penalties worth US$2.65 million
SINGAPORE : Two ocean common carriers- 1) Ocean Network Express Ptd. Ltd. (ONE) and No 2)Wan Hai Lines (USA) Ltd entered into a compromise agreement with the FMC
Saudi Arabia’s Port of NEOM open for business
RIYADH : The Port of NEOM, described as the primary seaport of entry to the northwest of Saudi Arabia and which now incorporates Duba Port, is up and
Baltic index nears one-month low as vessel demand weakens
LONDON : The Baltic Exchange’s main sea freight index fell for a sixth straight session on Thursday to its lowest level in almost a month, pressured by lower
ZIM announces investment in Spinframe
HAIFA : ZIM Integrated Shipping Services Ltd, along with other investors, announced the initial closing of an $8 million financing round in Spinframe. ZIM led this investment as part of
IMO organises conference ‘Mobilizing networks for gender equality’ on the occasion of In
LONDON : The second International Day for Women in Maritime, celebrated on Thursday, 18 May 2023, seeks to highlight the importance of collaboration and networking in achieving gender equality
Drewry: Dry Bulkers’ earnings potential improved over the past four months
LONDON : The Drewry Dry Bulk Equity Index decreased 7.6% YTD, underperforming the S&P 500 which rose 8.1% YTD. The decline can be attributed to macroeconomic weakness caused