Yemeni Port of Aden is fully ready to receive containers and other cargo traffic as a result of the stabilization of security in the region, Yemen Gulf of Aden Ports Corporation said on March 17. During 2015 and 2016, Aden Container Terminal has been receiving all containers that could not reach oth
The shipping industry is looking for ways to return to faster expansion in volumes as the slowdown in volume growth since the financial crisis focussed the industry’s thoughts on potential barriers to healthy long-term trade growth, according to Clarksons. From 1988 to 2008, growth in world seaborne
German shipping major Hapag-Lloyd and Dubai-based United Arab Shipping Company (UASC) have decided to delay the finalization of their agreement by two months, until the end of May, as the final preparations are taking “more time than expected.” Namely, the companies said that they agreed to shift th
The dry bulk shipping industry remains well on target for profitable freight rates in 2019 if the projected fleet supply growth rate of 0% in 2017 continues, according to international shipping association BIMCO. In 2016, the supply side grew by 3% and the demand side grew by 2.4%, which resulted in
The Islamic Republic of Iran Shipping Line (IRISL) is looking to list on the London Stock Exchange as the company has already held talks on a possible initial public offering (IPO), Reuters said citing undisclosed Iranian and Western sources. However, the company is experiencing difficulties in its
The global marine freight industry is expected to return to 2014 levels by mid-2019 and reach a value of approximately USD 210 billion by 2021, according to the findings of research firm MarketLine. “The recovery in the industry is expected to be fueled primarily by a return of global demand as oil
The Ocean Alliance has the most services at its disposal with a total of 40 loops spread across seven East-West trades, a comparison of new carrier alliances from shipping consultancy Drewry shows. The Ocean Alliance is followed by THE Alliance with 32 services and 2M with 25. As the market braces f
Mumbai based shipping company Shreyas Shipping and Logistics Limited (Shreyas), part of Transworld Group, has decided to acquire 99.99% stake in Dubai-based Balaji Shipping Lines from Transworld Holding Limited. The move was approved at a board meeting held on March 9 and the acquisition will be car
Maritime kidnaps across the globe surged by 44 percent in 2016, in part driven by an uptick of activity in the Gulf of Guinea and in the Sulu and Celebes Seas, according to Control Risks’ global maritime analysis. Additionally, maritime hijacks were down by 83% globally in 2016, driven by a decline
On March 8, Egypt’s Port Said East welcomed the 18,300 TEU containership Mette Maersk, which became the second Triple-E class vessel to call an Egyptian port and the first with a commercial stop at the port’s Suez Canal Container Terminal (SCCT). Owned by Danish container shipping giant Maersk Line,
Driven by a drop in dry bulk demolition and a surge in deliveries, the dry bulk fleet grew by 2.6% year-on-year in January 2017 exceeding 800 million dwt, according to shipping association BIMCO. Dry bulk demolition was halved in the first month of 2017 when compared to the same period a year earlie
The five member lines of THE Alliance said that they will establish an independent trustee to manage funds to be used if one of the carriers suffers a bankruptcy. Through the contingency plan, the fund will be used to continue alliance operations in the event of insolvency of one or more members of
As the container shipping industry continues to be plagued by the same challenges since the onset of the 2008 financial crisis, the outlook for global container carriers remains grim at the start of 2017, consulting firm AlixPartners said. Sluggish demand levels are exacerbating supply-and-demand im
Crew members who are nationals from Iran, Libya, Somalia, Sudan, Syria and Yemen shall be denied entry to US ports unless they hold a valid visa, according to the new executive order issued by US President Trump. The new executive order “Protecting the Nation from Foreign Terrorist Entry into the Un
