News


DP World Should Rethink Port Deals in Somalia - Foreign Minister

Somalia's foreign minister said on Friday that Dubai state-owned port operator DP World should reconsider its contract with the breakaway region of Somaliland and work with federal authorities so Somalia's sovereignty is not violated.

Oldendorff Halts Guyana Operation Due to Rusal Crisis

German shipping group Oldendorff Carriers is stopping its business in Guyana, the company said on Friday, after the United States blacklisted Russian aluminum producer Rusal, which has a plant in the South American country.

Ships Carrying US Sorghum U-turn after China Tariffs

Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain, trade sources and a Reuters analysis of export and shipping data showed.

Dry Bulk: Capesize Rally Continues

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit an over three-month high on Friday as a rally in the capesize vessel segment helped the index record its best week since August 2014.

Panama Canal LNG Volume Soars as Global Demand Grows

The Panama Canal may carry five times as much liquefied natural gas (LNG) in 2020 as it did last year as production of the fuel expands in the United States and Asian import demand rises, the head of the canal's governing agency told Reuters.

Krishnapatnam Port Container Throughput Rises

Krishnapatnam Port Company Limited (KPCL), the largest deepwater port on the east coast of India, announced that it has handled 45 Million Metric Ton (MMT) of cargo in 2017-18 (FY18) thus, achieving a 25 percent growth over 36.

CMA CGM to Acquire 25% Stake in CEVA

French container shipping company CMA CGM said on Friday it would buy a stake of around 25 percent in Ceva Logistics, which is being listed on the Swiss stock market.CMA CGM said that as part of this process,

U.S. Coast Guard Honors Foss Exec Johnson

The U.S. Coast Guard awarded Grant Johnson, Foss Maritime's Vice President for Health, Safety, Quality and Environment (HSQE), with a Meritorious Public Service Award in recognition of his achievements as a member and Vice Chair of the National Offshore Safety Advisory Committee.

Jaime Sworn in as L.A. Harbor Commission President

Jaime L. Lee, the newest Los Angeles Harbor Commissioner, has been elected president of the Los Angeles Harbor Commission. Lee was appointed by Los Angeles Mayor Eric Garcetti and confirmed by the Los Angeles City Council last week.

Navios Maritime Acquisition Corporation Inks Sale and Leaseback Pact

 Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has completed a $71.5 million sale and leaseback agreement  for four MR2 product tankers. The proceeds have been used to extinguish $69.

Port of Rotterdam Freight Throughput Falls in 1Q

 In the first quarter of 2018, 1.2% less freight passed through the Port of Rotterdam than in the same period last year. In total, 117.8 million tonnes were handled against 119.3 million tonnes in the same period in 2017.

Russian Maritime Register of Shipping Visits ACSC

 Azerbaijan Caspian Shipping Company (ACSC) held a meeting with Konstantin Palnikov, the General Director of the Russian Maritime Register of Shipping (RS), which is one of the well-known classification societies.