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
MSC containership fleet to hit 5m teu capacity this month
GENEVA : MSC is set to be the first container line to have fleet of 5 million TEUs in capacity later this month according to analyst Alphaliner. MSC
A.P. Moller – Maersk announces ‘Al Maha’ Ocean Service connecting the Middle East and West Afr
DUBAI : A.P. Moller – Maersk (Maersk) announced ocean shipping service, ‘Al Maha’, that will commence its rotation in June 2023. The ‘Al Maha’ service will rotate between the
Joerg Sonne appointed Senior Managing Director of Hapag-Lioys’s North Europe Region
HAMBURG : Mr. Joerg Sonne will become Senior Managing Director of Hapag-Lloyd’s North Europe Region, succeeding Martin Rolf, who will take over the position of Managing Director Human
Over 15,000 ships could be recycled by 2023, up more than 100% on the last 10 years
COPENHAGEN : “Over the next ten years, from 2023 to 2032, more than 15,000 ships with deadweight capacity of more than 600 million tonnes are expected to be