Average container freight rates have plunged to their lowest levels in history, with room to fall further as the market enters the traditionally slow winter season, according to market analyst Alphaliner. The China Containerised Freight Index (CCFI) fell to only 752 points last week, the lowest leve
Average container freight rates have plunged to their lowest levels in history, with room to fall further as the market enters the traditionally slow winter season, according to market analyst Alphaliner. The China Containerised Freight Index (CCFI) fell to only 752 points last week, the lowest leve
Seoul-based logistics company Hyundai Glovis, part of the Hyundai Kia Automotive Group, plans to buy four vehicle carriers for around KRW 335 billion (USD 296 million). The four new vessels are expected to join Hyundai Glovis’ fleet by December 27, 2017, the company said in a stock filing. Hyundai G
Seoul-based logistics company Hyundai Glovis, part of the Hyundai Kia Automotive Group, plans to buy four vehicle carriers for around KRW 335 billion (USD 296 million). The four new vessels are expected to join Hyundai Glovis’ fleet by December 27, 2017, the company said in a stock filing. Hyundai G
Hitachi Construction Machinery Europe NV has presented its latest development in pursuit of the ultimate excavation machine – the new ZX250LC-6. The new model incorporates Hitachi technology developed specifically for the Zaxis-6 medium excavator range, and high-quality and durable components that c
Arizona-based ocean carrier APL Limited has agreed to pay the U.S. government USD 9.8 million to resolve allegations that it violated the False Claims Act in connection with a contract to provide GPS tracking of shipping containers in Afghanistan, the U.S. Justice Department said. The U.S. Departmen
Arizona-based ocean carrier APL Limited has agreed to pay the U.S. government USD 9.8 million to resolve allegations that it violated the False Claims Act in connection with a contract to provide GPS tracking of shipping containers in Afghanistan, the U.S. Justice Department said. The U.S. Departmen
Dredge Yard has engineered and manufactured a compact and economic sediment dredger, also known as Auger Dredger, which will be used for a desalination plant in the Gulf region. This piece of equipment can be used particularly in rivers, streams, harbors, ponds, bays or artificial lakes to remove th
The National Shipping Company of Saudi Arabia (Bahri) announced today that its Board has approved the purchase of two second hand Very Large Crude Carriers (VLCC), Blue Topaz and Blue Pearl. The contract is worth a total of USD 157 million. The VLCC duo was built in 2010 at Daewoo Shipbuilding & Mar
The National Shipping Company of Saudi Arabia (Bahri) announced today that its Board has approved the purchase of two second hand Very Large Crude Carriers (VLCC), Blue Topaz and Blue Pearl. The contract is worth a total of USD 157 million. The VLCC duo was built in 2010 at Daewoo Shipbuilding & Mar
Transocean, an offshore drilling contractor, has stacked several of its drilling rigs and has received a contract award for one of its jack-up rigs in the United Arab Emirates. According to Transocean’s October fleet status report, the company’s high-spec jack-up drilling rig, GSF Constellation I, h
Port operator DP World Limited handled 46.5 million TEU across its global portfolio of container terminals during the first nine months of 2015, with gross container volumes growing by 3.2% on a like-for-like basis. On a reported basis gross volumes grew by 3.7%, largely driven by business results o
Port operator DP World Limited handled 46.5 million TEU across its global portfolio of container terminals during the first nine months of 2015, with gross container volumes growing by 3.2% on a like-for-like basis. On a reported basis gross volumes grew by 3.7%, largely driven by business results o
Unique Group, a provider of integrated subsea and offshore solutions, has acquired Oceanwide Safety at Sea in a deal that joins two diving industry service providers. Oceanwide provides design, construction and maintenance of self-propelled hyperbaric lifeboats. Its integration into Unique Group rep
