The Iranian shipping company Islamic Republic of Iran Shipping Lines (IRISL) has made an official comeback to the port of Antwerp with one of its ships making a call at the port last week for the first time since 2010. The arrival of the container carrier Azargoun at the Antwerp Gateway terminal in
Oman’s SOHAR Port and Freezone has signed a Memorandum of Understanding (MoU) with Brazilian mining company’s subsidiary Vale in Oman and Oman National Investments Development Company SAOC TANMIA in Muscat that will pave way for the development of the SOHAR Dry Bulk Logistics Corridor. The project t
Russian transport operator FESCO Transportation Group, in cooperation with the port of Olya, is launching the Trans-Caspian intermodal service FESCO Russia Iran Service (FRIS), to transport cargo between Russia and Iran. According to the company, the service includes shipping over the Caspian Sea an
Despite historically low container shipping rates, Israel’s cargo shipping company ZIM Integrated Shipping Services managed to stay in the black with an annual net income of USD 6.5 million seen in 2015, compared to a net loss of USD 198.1 million recorded a year earlier. The company’s operating cas
Iran’s first two ships have been classified by Italy’s RINA Services and the Asian Classification Society (ACS) following the sanctions’ lifting against the country. The vessel pair are two general cargo ships at 15,000 GT owned by the Islamic Republic of Iran Shipping Lines (IRISL) which has just m
Overall confidence levels in the shipping industry fell to a record low in the three months to February 2016, according to the latest Shipping Confidence Survey from shipping adviser Moore Stephens. The average confidence level expressed by respondents in the markets in which they operate was 5.0 on
Rolls-Royce has unveiled its vision of the land-based control centres that the company believes will remotely monitor and control the unmanned ships of the future. In a six minute film, Rolls-Royce presents a vision of the future in which a small crew of 7 to 14 people monitor and control the operat
Danish shipping companies Maersk Line and Maersk Tankers have signed a three-year contract with Japan-headquartered weather company Weathernews that covers weather routing services, port forecasts and other weather-driven risk communication services. Operating from five global operations centers, We
Offshore support vessels operator POSH Semco, a wholly-owned subsidiary of PACC Offshore Services Holdings (POSH), has launched legal action against Makamin Offshore Saudi (MOS) related to owed charter fees for three vessels. The company is claiming a sum of SAR 24.4 million (USD 6.5 million) due fr
Conflicts and tensions in the Middle East, Far East and North and sub-Saharan Africa pose a real threat to the maritime environment and some of the world’s most important shipping lanes, maritime security company MAST warns. “Concern over the decision to reduce the High Risk Area (HRA) in the wester
VLCC, Suezmax, Aframax and product tanker rates are expected to rebound in the second quarter of 2016 supported by oil market fundamentals’ recovery, according to Tanker Freight Forecaster from Maritime Strategies International. Though last month saw a fall in VLCC spot earnings, rates are set to ri
Shipping losses continued their long-term downward trend with 85 total losses reported worldwide in 2015, according to Allianz Global Corporate & Specialty SE’s (AGCS) fourth annual Safety and Shipping Review 2016. Although the number of losses remained stable year-on-year, declining by just 3% comp
Liner schedule reliability fell to its worst level in 12 months in February when the average on-time performance slipped by 7 percentage points to 62.7%, according to Drewry’s Carrier Performance Insight. The on-time average is reported to have fallen in each of the previous five months and is now a
French container shipping major CMA CGM has upgraded its services linking the West African coast to Europe, Asia, Middle East and India as a part of the company’s new strategy in the West African region. The new MIDAS service calls at 7 West African ports from India and Middle East. An extended cove
