The Philippine-based container terminal operator International Container Terminal Services, Inc. (ICTSI) handled 7,438,635 TEUs in 2014, 18% more than 6,309,840 TEUs reported in 2013, chalked up to the start of the new operations in Mexico and Honduras, the consolidation of terminal operations in Ya
South Korea and Saudi Arabia have inked a maritime trade deal in Riyadh during South Korean President Park Geun-hye’s two day visit to the country. The deal, signed on Tuesday, paves way for ensuring a safe and steady supply of oil to South Korea from the Middle East country, Yonhap news agency info
The National Shipping Company of Saudi Arabia (Bahri) is planning to raise around USD 1 billion through the sale of a ten-year sukuk by the end of March, a company executive was reported as saying by the local news site Arabian Business. The proceeds of the sale are planned for debt repayment and ge
The oil tanker United Kalavryta, carrying 1 million barrels of Kurdish oil, has unloaded its cargo in Israeli port of Ashdod. Apart from United Kalavryta, several other tankers carrying oil for Kurdish Regional Government (KRG), unloaded in the same Israeli port, the Daily Star reports. According to
The international shipping association BIMCO has launched a new, three-part guidance resource called Guide to Maritime Environmental & Efficiency Management, to support ship owners and operators in improving their environmental performance and the efficiency of their ships. Developed in partnership
A series of eight new 33,000 DWT chemical tankers under construction in Asia will feature Wärtsilä Aquarius UV Ballast Water Management Systems (BWMS), certified for explosion proof (EX) requirements, the Finnish company says in a release. This means that the BWMS units can be installed in Zone 1 ha
Box traffic from Asia to the Middle East did far better in 2014 when compared to 2013 figures, increasing by 6.9% to reach 3.27 million teu, Drewry’s container trade statistics show. As explained, much of this growth will have been supported by infrastructure projects through the region. Growth in t
Israeli police have arrested 17 employees of an unnamed international company operating at the Ashdod Port, suspected of embezzling millions of dollars through tax evasion, The Times of Israel reports. Over 200 police officers stormed the storehouses at the port early Monday morning, and arrested th
A cargo ship carrying around 350 head of cattle sank off the south coast of Oman February 28, the country’s daily The Times of Oman reports. The ship was sailing from Somalia to the United Arab Emirates when it encountered high waves and strong winds off Ras Al Hadd, in Oman’s Asharqiyah province, a
The Greek dry bulk carrier and tanker operator NewLead Holdings has entered into its first contract of affreightment with an undisclosed client for one of the five bitumen tankers recently added to the fleet. The 2009-built Katerina L has been chartered for a period of ten months, and will ship a mi
Real-time reporting and data analysis are key tools to understanding and improving complex operating environments of today’s companies where the overall effects of any individual action can be very difficult to identify without a proper tool set at hand. Identifying and continuously improving best p
A record volume of tonnage is reported to have changed hands in 2014 and reported secondhand sales rose by 29% year-on-year to total 51.0m GT in 2014, according to Clarksons. The reported value of secondhand sales activity totalled USD 26.1bn, up 26% y-o-y. There was interest in the larger sizes and
The shipping industry has supported efforts to address aquatic invasive species through ballast water treatment (BWT) standards, but for a capital expenditure of over USD 60 billion, a legal regime that offers greater clarity, predictability, and investment certainty is needed, according to World Sh
Very Large and Ultra Large Crude Carriers have increased their average sailing speed this month to 12.57 knots in order to take advantage of the rising demand and higher daily rates triggered by a dip in crude oil prices, Bloomberg reports. It has been two and a half years since the global supertank
