News

New Delhi spending to develop strategic Iranian port

**New Delhi approved yesterday plans to spend $150m developing Chabahar port in neighbouring Iran. D...

India OKs 150 Mln Investment in Iran’s Chabahar Port

**The Indian government has approved a USD 150 million credit facility to support the development of...

DP World wins bid to run Cyprus port

**DP World has been selected as preferred bidder for some operations at the port of Limassol in Cypr...

HMM merger talk with Hanjin reignites

**The pressure on South Korea’s Hyundai Merchant Marine continues to mount with shipping consultant...

Amended Colombo Port City Project Given the Go Ahead

**The Sri Lankan Government has given the green light for the Colombo Port City Project, having amen...

DP World and Eurogate won concessions at Limassol port

**Consortium lead by German Eurogate International won concession of container terminal at Limassol...

Egypt Inaugurates New Canal at East Port Said

**On Feb. 24 Egypt inaugurated a new canal, the East Port Said Canal, which is a short links between...

COSCO set to reshape shipping alliances

Sino-French container partnership could challenge 2M’s dominance of East-West trade

Newly forme...

COSCOCS will change alliances confirms National Development and Reform Commission

**China Cosco Shipping Corp (COSCOCS) will tear up the global container alliance structure, a senior...

UAE’s Gulftainer appoints former DP World exec as new CEO

**UAE-based Gulftainer, the world’s largest privately-owned, independent port operator, on Monday an...

Turnover Port of Rotterdam Authority increases, sound profit development

Last year, turnover of the Port Authority increased by 2.6% to €676.9 million. This was mainly d...

Kenya’s Mombasa port traffic up 7.5 percent in 2015

**Container traffic through Kenya’s biggest port grew by 7.5 percent in 2015 after new cargo-handlin...

KPA takes over new terminal

**The Kenya Ports Authority (KPA) has taken over the operations at a new container terminal as it pr...

COSCOCS integration officially underway

**“Chinese container carriers COSCON and China Shipping officially began a merger of the two compani...

K + N reports 5.4% increase in net profits

“Swiss-based third-party logistics provider Kuehne + Nagel posted net profits of 679 million Swiss Francs for 2015, a 5.4 percent increase from 2014.” For more details, please see the original article at American Shipper. Source: American Shipper

Port of Gothenburg expands

**The Port of Gothenburg is set to expand with the construction of a new terminal at the outer port...

COSCOCS, CMA CGM looking to IRISL as alliance partner

**China COSCO Shipping Corp (COSCOCS) and CMA CGM intend to involve Evergreen and Orient Overseas Co...

ADPC: Ma’alla Container Terminal Ready for Boxships

**Terminal officials at the Port of Aden, Yemen have revealed a new expansion plan that includes put...

CMA CGM deploys its flagship fleet between Asia and the U.S. West coast

**The six 18,000 TEU vessels named after the Great Explorers will be deployed on the trans-Pacific m...

BWR: UASC, CMA CGM launch new Mid East/ISC-Med loop

**“Ocean carriers UASC and CMA CGM commenced the IMEX service between the Middle East/Indian Subcont...

Coscocs Integrates Container Shipping Arms, Eyes IRISL as Alliance Partner

**China’s shipping giants COSCO Container Lines (COSCON) and CSCL signed a series of leasing contrac...

IRISL Seals Cooperation Deal with PIL

**The Islamic Republic of Iran Shipping Line (IRISL) has penned a Memorandum of Understanding with S...

Hyundai Group chair quits HMM role as shares take another massive hit

**Shares in beleaguered Hyundai Merchant Marine (HMM) plunged 21% in Seoul today on news that the li...

Korean shipbuilding orderbook slides to 10-year low

The order backlog at South Korean shipyards has fallen to its lowest level in 10 years, according to...

DSME Suffers USD 4.3 Bn Loss in 2015

**South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) posted a KRW 5.1...

Malacca Strait transits grow 2% to record in 2015, boxships see dip in H2

**The number of vessels transiting the Malacca Strait grew to 2% in 2015 to hit a new all time high,...

Orient Overseas (International) Ltd Announces 2015 Full Year Results

• Group Revenue US$5,953 million

• Group Operating Profit of US$353 million

**• Profit Att...

CMA CGM’s 2015 results and margins remain firm in a difficult environment

**• Strong 6.3% volume growth, largely outpacing the market
• EBIT margin and net profit virtually...

ICTSI full year profit dragged down by one-time charges

**Port operator International Container Terminal Services, Inc. (ICTSI) has posted a big drop in 201...

Contship Italia looks at Leghorn boxport project

This year will be a crucial year for Contship Italia’s new strategies in Italy. Following a 2015...

Cambodia speeds up port developments as exports soar

**Growing export powerhouse Cambodia is speeding up port development and looking for foreign investo...

Port of Salalah signs MOU with Iranian ports

“The Omani port signed a memorandum of understanding with two Iranian ports to facilitate trade growth between the two nations.” For more details, please see the original article at American Shipper. Source: American Shipper

DP World Looking to Boost Investment in Thailand

**Dubai’s port operator DP World is exploring investment opportunities in Thailand including those i...

MSC to upgrade its South Africa service with direct call at Hazira

**MSC would like to inform customers that we have strengthened our coverage on our South Africa serv...

Gulftainer Registers 4% Growth in Container Volume across Global Portfolio in 2015

  • **Recording impressive 9% spike in container volume, company’s UAE terminals in Khorfakkan and Sha...

Hanjin and HMM told to reduce debts if they want to access state funds

Korean authorities will turn the taps off leading lines until they bring their extraordinary debts u...

APM Terminals Completes Acquisition of Grup Maritim TCB

The Hague, Netherlands – APM Terminals has completed the USD 1 billion acquisition of Spanish Gr...

DSME to let go of 12,000 staff

**Financially struggling Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) will slash its...

Port of Mombasa Gets Second Container Terminal

The Port of Mombasa has boosted its container handling capacity by 50 percent following the completi...

Global Ports Investments 2015 Full Year Results

**Global Ports Investments PLC (“Global Ports” or the “Company”, together with its subsidiaries and...

DP World to set up Indian holding company with IPO in mind

Dubai terminal operator DP World has been allowed by New Delhi to open an Indian holding company for...

MSC changes terminal in Umm Qasar

**MSC is pleased to announce a change of terminal provider in Umm Qasr. Effective from 20th March 20...

Evergreen feud takes off as Chang Kuo-wei removed as EVA Airways chairman

**The succession war at Evergreen Group continues to escalate as Chang Kuo-wei, the youngest son of...

Panama Maritime Authority tables ship financing bill

**Alvaro Aleman Minister of the Presidency and chairman of the board of directors of the Panama Mari...

Port of Sohar expands container terminal

The Port of Sohar is expanding with four new post-panamax quay cranes for its Oman International Con...

Yang Ming to Bolster Ties with RCL

**Taiwanese carrier Yang Ming Marine Transport Corp has partnered up with Thai counterpart Regional...

Jakarta now seen partly funding West Java port project from State budget

**In a somewhat confusing policy flip flop, local media reported that the Indonesian government is s...

China Merchants appoints Zhao Huxiang as vice president

**China Merchants Group has announced that it has appointed Zhao Huxiang, president of Sinotrans & C...

More space for container trade growth through Melbourne with DP World Australia expansion

**DP World Australia’s new 30,000 sqm Melbourne terminal expansion, at the former Bentley Chemplax s...

NileDutch takes over Safmarine MPV

**NileDutch, the West Africa specialist containerline, has announced the acquisition of the Europe t...