French-based container shipping line CMA CGM will add two new weekly services to East Africa, and Europe, beginning the first week of December, those being the Noura Express and the EPIC service. Both services will include adding calls to the Port of Salalah. The Noura Express service, on the East A
Marine insurer IUMI has called for the introduction of a range of measures to help reverse the worrying increase in cargo theft globally. During the IUMI conference in Berlin, the association published a position paper which points out that cargo theft is no longer confined to high-value goods and t
A consortium composed of Teekay LNG Partners L.P., Samsung C&T and Gulf Investment Corporation (GIC) executed on Wednesday with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain. The project, to be developed
The cruise industry shows no signs of slowing down, with nearly 24 million passengers expected to sail in 2016, a dramatic increase from 15 million just 10 years prior (2006), Cruise Lines International Association (CLIA) said in its 2016 State of the Cruise Industry Outlook. CLIA also revealed that
The struggles of dry bulk shipping companies to recover their costs are to resume for at least the following years as the gloomy outlook for the dry bulk shipping market continues. Ship owners’ efforts to recover their costs by downsizing their vessel holdings is expected to enable oversupply to red
The International Maritime Organization (IMO) has adopted a resolution on better regulation at its assembly meeting in London as it targets reduction of administrative difficulties. The regulation sets the overall frame for how to formulate regulation and establishes that all member states must care
Container shipping companies’ operating margins are forecast to worsen further in the fourth quarter, with the majority of them expected to turn in negative results, according to Alphaliner. The decreasing of margins follows the downward trend from the third quarter of 2015 which saw weak cargo volu
The Suez Canal Authority (SCA) and the Suez Canal Container Terminal (SCCT), which is 55 percent owned by Maersk’s APM Terminals, entered into an agreement on Wednesday to jointly upgrade the East Port Said through a USD 60 million-worth channel project. The agreement settles the dispute between SCA
Israeli container shipping company ZIM reported a net income for the three months ended September 30, 2015 of USD 11 million, compared to a net loss of USD 63 million for the same period in 2014. However, the company posted a 12 percent decrease in its total revenues to USD 749 million in the third
Responding to the Sustainable Shipping Initiative’s concerns that measures being taken by shipping fall short of what is required to achieve the 2 degree climate change goal, the International Chamber of Shipping (ICS) said that this misunderstands the approach already agreed at the UN negotiations
The United Arab Emirate-based port operator Abu Dhabi Ports has started welcoming cruise liners at Sir Bani Yas Island, the Arabian Gulf’s first cruise beach stopover in Abu Dhabi. Two cruise vessels Island Sky, owned by London-based Noble Caledonia, and Seaborne Sojourn, Miami-based Carnival Corpor
The Sharjah Port and Customs Authority has taken delivery of a Damen ASD tug 2411, named Al Luolo’ Aya during a ceremony held at Damen Shipyards Sharjah, UAE. The ASD 2411 tug, fully “built in Sharjah for Sharjah,” is the port’s first ASD tug. Besides this tug, the port operates eight Damen Stan tug
Global marine terminals operator DP World’s flagship Jebel Ali Port has received its first Triple-E vessel, the Magleby Maersk. The 18,270 TEUs container vessel is on its maiden visit to the region. Jebel Ali said that it is one of the very few ports in the Middle East equipped to receive containers
The Baltic Dry Index (BDI) fell to 504 points on Thursday, hitting the lowest point in almost thirty years. The BDI dropped by 15 points, a 2,89 percent decrease against the numbers on November 18, and a 36 percent decrease for this year. Such low results are caused by a reduction in the cost of shi
