The Khalifa Port Container Terminal, operated by UAE-based Abu Dhabi Terminals, has seen a 36 percent surge in cargo volumes during the first ten months of 2015 compared to the same period last year. The terminal moved 1.204,993 TEUs (twenty foot equivalent units), up from 889,165 TEUs in the same p
Asia’s ports of Busan, Hong Kong and Ningbo have kept their lead in boxship turnaround efficiency as they required shorter waiting times at anchorages as compared to the rest of top 10 container ports from around the world for October, the latest analysis from IHS Maritime&Trade shows. The analysis
The global fleet of containerships above 500 twenty-foot-equivalent units made idle has breached the 1 million TEU mark amid depressed containership market, according to Alphaliner. Just in the last two weeks, a total of 35 ships of 109,000 TEUs were made idle. The volume of idle capacity doubled si
Dubai Maritime City Authority (DMCA) has taken legal action against a fuel supplying company for illegally conducting bunkering operations in Dubai waters. The company was fined for failure to obtain the necessary permissions and approvals in violation of Dubai government regulations, according to D
Oman Shipping Company has signed a USD 202.6 million (OMR 78 million) financing deal with Meethaq, an Islamic banking unit of Bank Muscat, aimed at refinancing OSC’s three Very Large Crude Carriers (VLCCs). The vessels in question are the 2008-built 317,000 DWT Marbat, the 2008-built 317,000 DWT Man
Oman’s Sohar Port and Freezone saw a 53% rise in container volumes handled in the third quarter of 2015, driven mostly by the relocation of all commercial traffic from Port Sultan Qaboos in Muscat to Sohar Port in September 2014. The port’s container volumes grew from 93,000 TEUs recorded in Q3 of 2
Lebanon-headquartered Swiss Shipping Line and Jacksonville-based Africa Car Carrier have formed a joint venture company in an effort to to strengthen their RoRo services in the U.S. The new company, operating under the name of Blue Alliance Shipping, will combine resources and experience of the two
Maersk’s terminal operating company, APM Terminals delivered a profit of USD 175m in the third quarter of 2015, substantially down from USD 345m reported in the same period last year. The company’s return on invested capital (ROIC) was 11.6%, down from 22.5% in 2014, and the underlying profit was US
Tokyo-based Kawasaki Kisen Kaisha, Ltd. (“K” Line) and Dubai-headquartered Sharaf Group have established a new company called K Line Shipping & Logistics L.L.C (KLSL) in Dubai, UAE, the first time any Japanese shipping company formed a joint venture in the Middle East, ”K” Line said in a statement.
Greece-based bunker company Aegean Marine Petroleum Network Inc. has entered into a new $120 million credit facility for its wholly-owned subsidiary, Aegean Oil Terminal Corporation arranged by local United Arab Emirates banks. “With this new facility, we have established more favorable terms with l
The CKYHE Alliance of Asian container lines will cancel a total of 9 voyages on their current Asia-North Europe and Mediterranean service loops from November 2015 through December 2015. COSCO, “K” Line, Yang Ming, Hanjin Shipping and Evergreen said that the service reduction on their joint Asia – No
The outlook for the global shipping industry is stable, according to Moody’s Japan K.K., reflecting expectations for low single-digit percentage aggregate year-over-year EBITDA growth for its rated shipping companies during the coming 12-18 months. “This growth rate is lower than the mid-to-high sin
Manila-headquartered container terminal operator International Container Terminal Services, Inc. (ICTSI) managed to improve its revenue from port operations in the first nine months of 2015 by 2% compared to the same period a year earlier, despite an 11% revenue dip in the third quarter ended Septem
UAE-based port owner and operator DP World Limited said that it has agreed with Associated British Ports (ABP) to extend the license agreement for DP World Southampton for a further 25 years until 2047. Simultaneously, DP World announced that it has acquired the remaining 49% stake in DP World South
