News

Spanish rejection of dock labor reform averts global port strike

Members of the International Dockworkers’ Council around the world had prepared to strike in solidarity with their Spanish peers.

The International Dockworkers’ Council (IDC) on Monday called off worldwide strikes scheduled for March 23 in support of Spanish longshoremen after the Madrid government failed to gain Parliamentary support to reform the…

Full Article: Spanish rejection of dock labor reform averts global port strike

Source: JOC International Ports

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DP World’s Earnings Exceed USD 1 Bn Despite Challenging Markets

Despite “significant challenges” in the industry, Dubai-based port and terminal operator DP World has posted for the first time a full-year net income of over USD 1 billion. The company’s profit for 2016 stood at USD 1.3 billion, compared to USD 970 million seen a year earlier. Moreover, DP World’s revenue rose to USD 4.2 […]

Full Article: DP World’s Earnings Exceed USD 1 Bn Despite Challenging Markets

Source: World Maritime News

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Cruise Segment Drives Genting Hong Kong’s Revenue up

Genting Hong Kong, a part of Genting Group, has seen a surge in its revenue from cruise and cruise-related activities by over 39 percent to USD 908.1 million in 2016 from USD 652.8 million reported a year earlier. The company said that its net revenue in 2016 rose to USD 689.7 million from USD 496.8 […]

Full Article: Cruise Segment Drives Genting Hong Kong’s Revenue up

Source: World Maritime News

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Cefor: Giant Boxships Pose Risks That Are Not Being Discussed

There are numerous risks of technical nature not being considered when opting to construct the ever bigger containerships that are being overshadowed by the luring economies of scale, the Nordic Association of Marine Insurers (Cefor) warns. According to the association, apart from the commercial challenges in operating these vessels such as upgrade of port facilities […]

Full Article: Cefor: Giant Boxships Pose Risks That Are Not Being Discussed

Source: World Maritime News

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Bulker Collides with Iceabreaker in Northern Sea Route

A bulk carried managed by Danish shipping firm Nordic Bulk Carriers collided with an atomic icebreaker Vaygach owned by Russia’s Rosatomflot on March 14 while transiting the Northern Sea Route. “During this trip, there was contact, at slow speed, between the right bow of the vessel and the icebreaker’s side fender,” the two companies confirmed […]

Full Article: Bulker Collides with Iceabreaker in Northern Sea Route

Source: World Maritime News

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DHT Holdings to Dispose of Oldest VLCC

As part of its fleet renewal strategy, the crude oil tanker company DHT Holdings has reached an agreement to sell another very large crude carrier (VLCC) oldie, the 2001-built DHT Ann. The company said that the 309,300 dwt vessel fetched a price of USD 24.8 million, slightly over its current market value of USD 22.5 million, […]

Full Article: DHT Holdings to Dispose of Oldest VLCC

Source: World Maritime News

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Hapag-Lloyd, UASC Postpone Final Merger Date

German shipping major Hapag-Lloyd and Dubai-based United Arab Shipping Company (UASC) have decided to delay the finalization of their agreement by two months, until the end of May, as the final preparations are taking “more time than expected.” Namely, the companies said that they agreed to shift the Long-Stop Date under the Business Combination Agreement (BCA) […]

Full Article: Hapag-Lloyd, UASC Postpone Final Merger Date

Source: World Maritime News

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Report: Two Libyan Ports Retaken by LNA

East Libyan forces have managed to regain control of two major oil ports in Libya on March 14, after they were seized by the Islamist Benghazi militia earlier this month, Reuters reported.  The eastern-based Libyan National Army (LNA) took over the ports of Es Sidra and Ras Lanuf from the Benghazi Defence Brigades (BDB), pursuing them […]

Full Article: Report: Two Libyan Ports Retaken by LNA

Source: World Maritime News

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Diana Shipping Secures More Work for Panamax

Athens-based dry bulk shipowner Diana Shipping has extended the present time charter contract for one of its Panamaxes with the Italian company Nidera. Under the new agreement, the 2005-built dry bulk vessel, the M/V Melia, will be chartered out for a period of about eleven to thirteen months. The vessel was hired at a gross charter […]

Full Article: Diana Shipping Secures More Work for Panamax

Source: World Maritime News

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