Sammok Shipping offloads two vessels to secure liquidity and reduce its debts amid rising asset values.
HMM disputes paying higher handling fees to PSA International and considers moving its transhipment elsewhere to improve its financial condition.
Insurer Zurich and the Atlantic Council have issued research that models how a rise in protectionism, an oil crisis because of Middle East conflict, and water scarcity may influence the global society and economy between now and 2035.
Trans-Atlantic trade in petrochemical industry feedstock has been bolstered by the entry into service of a 38,000 m3-capacity liquefied ethylene gas carrier for the long-term transportation of ethane from the United States to the United Kingdom.
The Baltic Exchange is expanding its reach into LNG and containers and plans to provide new freight market benchmarks.
The Antwerp-based company, which saw its first-quarter net profit fall from USD113,54 million last year to USD34.32 million in 2017, said that nearly a quarter of the current large tanker orderbook would be delivered during the second quarter at a time when ordering activity was also picking up in the VLCC sector.
The Indian port of Mundra is growing in stature as a container handling hub, with a new terminal in a joint venture with CMA CGM taking capacity past that of JNPT near Mumbai.
Protectionism is the major threat to the development of the global economic system, but national law and the primacy of the nation-state is also being challenged by supercharged cities punching above their weight. Menon’s latest report into the World’s Leading Maritime Capitals of the World indicates that the influence of major cities is set to grow.
Jurong Port and Oiltanking Singapore have signed a joint-venture agreement to build a new tank terminal worth USD100 million on Singapore’s Jurong Island.
Brazilian iron ore giant Vale, has disputed talks that it is ordering more ore carrier newbuildings following the loss of Stellar Daisy last month.