French container shipping company CMA CGM is to reorganize its Noura Express and Swahili services connecting India, Middle East Gulf and East Africa. Operated with four 2,200 TEU vessels, Noura Express will stop Salalah call and add to its port coverage Mundra, effective July 24, and Port Victoria,
The European Commission has closed its formal investigation into fourteen container shipping companies due to a suspected breach of antitrust rules without finding an infringement of EU competition law. The Commission also adopted a decision that renders legally binding the commitments offered by fo
A new trade association has been established to provide the world’s bulk terminals with a united front at governmental level in order to ensure the sector can better face the environmental and commercial challenges ahead. The Association of Bulk Terminal Operators (ABTO) seeks to provide a voice for
Penspen and Dar Al Handasah, operating as a joint venture, have been awarded a new project management contract by Kuwait Gulf Oil Company to manage the engineering, procurement and construction of a new gas and condensate pipeline. The pipeline runs both offshore and onshore from Khafji in Saudi Ara
The 2015-built containership Maersk Shams, operating on a long-term time charter with the Danish shipping giant Maersk Line, was refloated in the evening hours on July 5 after it grounded in the Suez Canal earlier that day. After it was refloated, the vessel proceeded to the Suez Canal anchorage “in
Container freight rates are forecast to rise modestly over the next 18 months from the all-time lows reached recently, but this will not be sufficient to rescue the industry from substantial losses in 2016, according to shipping consultancy Drewry. Liner shipping has had a torrid time so far in 2016
The global economic outlook is uncertain and this uncertainty is leading to depressed investment worldwide, particularly in energy and mining activity. The international ports and terminals sector forms an important part of the infrastructure supporting these activities, HR Wallingford said in its l
Penspen and Dar Al Handasah, operating as a joint venture, have been awarded a new project management contract by Kuwait Gulf Oil Company to manage the engineering, procurement and construction of a new gas and condensate pipeline. According to Penspen, the contract is worth $10 million. The pipelin
U.S. oil and gas company Noble Energy, Inc. will sell a 3 percent working interest in the Tamar field, offshore Israel. The buyers are Harel Group (“Harel”), an insurance provider and pension manager in Israel, in partnership with Israel Infrastructure Fund (“IIF”), Israel’s largest infrastructure p
Provider of products and services to the shipping industry Wilhelmsen Ships Service (WSS) has secured the first contract under its new ‘canal transit’ solution with very large gas carrier (VLGC) owner and operator Avance Gas for the Panama Canal transit of its Neopanamax ships Passat and Breeze. The
The Netherlands-based APM Terminals has reported a smooth incorporation of the new Safety of Life at Sea Convention (SOLAS) Verified Gross Mass (VGM) regulations for containers into its daily operations across over 70 locations during the first three days since the rules came into force. Back in 201
As Hyundai Merchant Marine aims to take advantage of a surge in shipping demand following the lifting of sanction on Iran, the South Korean shipping giant revealed plans to expand its routes which link the Middle East and the Asia regions, according to Yonhap News Agency. The company reportedly said
Qatar-based liquefied natural gas (LNG) company Qatargas has signed a contract with European energy trading centre RWE Supply & Trading (RWEST) for the delivery of up to 1.1 million tonnes of liquefied natural gas (LNG) per annum to RWEST in North West Europe for seven and a half years. The cargo is
Hapag-Lloyd, UASC Agree on Merger Terms German shipping major Hapag-Lloyd and United Arab Shipping Company (UASC) have reached an agreement on the terms and conditions of a Business Combination Agreement (BCA)… Read More DSME’s Former CEO Taken into Custody Daewoo Shipbuilding & Marine Engineering’s
