Global Maritime News

ST Marine Liquidate Design Arm in China

ST Marine Liquidate Design Arm in China

ST Marine, a marine arm of Singapore’s ST Engineering, has placed its China-based ST Marine (Wuhan) Engineering Design Consultancy under members’ voluntary liquidation. ST Engineering said that the decision to liquidate the design firm is a result of the company’s Learn more
DP World Signed Construction Deals for Jebel Ali Expansion

DP World Signed Construction Deals for Jebel Ali Expansion

Global marine terminal operator DP World has signed two major contracts for civil construction work at its new Container Terminal 4 on a reclaimed island in Jebel Ali Port. According to the contracts, Dubai-based construction company Dutco Balfour Beatty LLC Learn more
Sri Lanka Looking for A Partner for Remaining ECT Stake

Sri Lanka Looking for A Partner for Remaining ECT Stake

Sri Lanka Ports Authority (SLPA) is looking for a shipping company or a terminal operator to take over 49% of the remaining shares in its East Container Terminal (ECT) in Colombo. Sri Lanka’s Ports and Shipping Minister Arjuna Ranatunga revealed Learn more
“The Clock Is Ticking” Warned By El Faro’s Captain

“The Clock Is Ticking” Warned By El Faro’s Captain

In his final call the captain of the ill-fated cargo ship El Faro warned that “the clock is ticking” just before the ship sank due to the Hurricane Joaquin near the Bahamas, the US Coast Guard probe heard on Saturday. Learn more
Ports of Auckland Launched Terminal Automation

Ports of Auckland Launched Terminal Automation

New Zealand’s largest container port Ports of Auckland has launched a second round of consultation with staff and unions on a proposal to partially automate its container terminal. The proposal would involve the use of robotic straddle carriers loading and Learn more
Profit Rises for Teekay Tankers

Profit Rises for Teekay Tankers

Due to the strongest tanker market recorded since 2008, Nasdaq-listed tanker shipping company Teekay Tankers, a part of the Teekay Corporation, has reported an increase in its net income from USD 40.9 million in the third quarter of 2015 to Learn more
Cosco’s New Offer for Piraeus Approved by Greece

Cosco’s New Offer for Piraeus Approved by Greece

China’s port operator Cosco Group (Hong Kong) Limited has been unanimously declared as the preferred buyer of the 67% stake in Piraeus, one of the largest Greek ports. Cosco’s initial offer for the Greek port was initially rejected as the Learn more
Iran and Germany Plan to Set Up Shipping Company

Iran and Germany Plan to Set Up Shipping Company

Iran and Germany are negotiating the possibilities for re-establishing shipping cooperation including through establishment of a new container shipping company. During a recent visit to Hamburg, Mohammad Saiedi, IRISL managing director signed a Memorandum of Understanding (MoU) with the owners Learn more

Marenave Extends Tankers and Containers Debt Deal

German-based shipping trust Marenave Schiffahrts has reached an agreement with the bank consortium financing the company’s eight product tanker and container shipping companies to extend its restructured debt. The initial agreement, reached in April 2013, was supposed to cover the Learn more
Bulk Invest Seeks Support from Creditors

Bulk Invest Seeks Support from Creditors

Oslo-listed dry bulk operator Bulk Invest ASA, formerly Western Bulk, has sent a written inquiry to its main creditors as it aims to launch a dialogue and pursue potential solutions to the company’s “challenging financial situation.” Further, the company also Learn more