The formation of the Ocean Alliance by CMA CGM, COSCO Container Lines, Evergreen Line and OOCL means that carriers who have been left out of the major alliances will have to act quickly to remain competitive on the market either through mergers or finding new partners. Shipping consultancy Drewry ex
The start of 2016 proved to be somewhat more challenging than expected for Qatar Navigation (Milaha) which booked a 3.5% lower net profit in the first quarter of 2016, ending March 31st year-on-year. Qatar-based marine transport and logistics conglomerate’s net profit for the quarter reached QAR 352
Danish container shipping major Maersk Line has launched a direct, weekly service from India’s deep water Krishnapatnam Port to Salalah in Oman by inaugurating the maiden call of M/V Maersk Bentonville. Featuring a gross tonnage of 4,504 t, the 53,201 dwt boxship was built in 2006. The weekly servic
Members of the International Maritime Organization (IMO) failed yesterday to reach a deal on fair share contribution to the goal of keeping the increase in temperature below 1.5/2°C. Consequently, the shipping sector “was left in disarray”, says NGO Transport & Environment. During the Marine Environ
The National Shipping Company of Saudi Arabia (Bahri Liner) has entered into a space charter agreement with Hamburg-based specialist for project and heavy lift liner services Rickmers-Linie. Under the terms of the deal, the companies would charter space from each other covering the ports on the US A
Hapag-Lloyd AG (HL) and United Arab Shipping Company SAG (UASC) are currently discussing forms of cooperation including a potential combination of their mutual container shipping operations, German shipping company confirmed. “In case of a business combination, the parties are basing their discussio
German shipping major Hapag-Lloyd is said to be in talks with United Arab Shipping Company (UASC) on a potential merger of operations. The report on the merger has emerged in German media, however World Maritime News also received a confirmation from a source close to the matter. The merger, if conc
Ocean carriers bucked a five-month downwards trend by improving container service reliability in March, according to Carrier Performance Insight by Drewry Supply Chain Advisors. The average on-time performance in March gained 5.5 points against February to reach 68% with an average deviation from th
Qatar Gas Transport Company Limited (Nakilat), the shipping arm of Qatar’s liquefied natural gas (LNG) sector, posted a net profit for the first quarter ended 31 March 2016, worth QR 240 million (aprox USD 66 mln) compared with QR 223 million of the same period of last year, up by 8 percent. Nakilat
Qatar-based marine transport and logistics conglomerate Qatar Navigation (Milaha) has inked a one-year feeder agreement with Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat), to transport up to 150,000 TEUs of petrochemical exports from Qatar. The contract, which starte
A rise in iron ore trade, higher steel prices and increased scrapping have been the main factors in the recent Capesize market uptick, however, according to Maritime Strategies International’s (MSI) latest Dry Bulk Freight Forecaster, the outlook is still fragile. In order for the uptick to be susta
National Shipping Company of Saudi Arabia (Bahri) has seen a rise in its profits in the first quarter of 2016, as the company recorded a net profit of SAR 611.9 million (USD 163.2 million) in the first three months of the year. The company’s net profit jumped by 53% compared to the same period a yea
The Baltic Dry Index (BDI) has experienced a further increase with the continued recovery of the dry bulk shipping industry as it surged by 38 points to a mark of 635 points on April 15. The Capesize index was up by 118 points reaching 949, while the Panamax and Supramax indexes were up by 27 and 11
India, Afghanistan and Iran have finalized the text of the Trilateral Agreement on Transport and Transit Corridors, known as the Chabahar Agreement, at the recently held meeting in New Delhi. The agreement is to pave way for India to access Afghanistan via the Iranian port of Chabahar, bypassing Pak
