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People & Company News

G E Shipping Sells Supramax

Photo: The Great Eastern Shipping Co. Ltd.

 India’s largest private sector shipping company  Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt.    G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18.   The Company’s

Norway SWF Dumps 3 Shipping Firms

Photo: Studio Fasching, Chittagong, Bangladesh, 2017 -  NGO Shipbreaking Platform

 The Norwegian Central Bank  has decided to exclude ship owners Evergreen Marine Corporation, Precious Shipping, Korea Line Corporation and Thorensen Thai Agencies from the Government Pension Fund Global (GPFG).    The exclusion is based on the companies’ poor management of their end-of-life ships

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

 Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind.    The appointments will take effect on 1 April, 2018, and are made in

Maersk, IBM to Launch Blockchain Joint Venture

(Photo: A.P. Moller-Maersk)

The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars.   The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border

Norden Boosts Earnings Expectations

Photo: Peter Gramstrup / Norden

 Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million.   Norden said the anticipated earnings improvement is a result of a

MOL Acquires Seafarers Manning Company

Group photo of MOL Maritime (Europe) B.V. and MOL management provided  by MOL

 Japan's Mitsui O.S.K. Lines (MOL) has announced that MOL acquired 100% of the issued shares of Azalea Maritime B.V. on December 21st, 2017.   Azalea Maritime changed its name to "MOL Maritime (Europe) B.V." on January 1st, 2018.   MOL will enhance providing top-quality seafarers for MOL-operated

Port of Rotterdam: 2017 in Review

Photo: Kees Torn, Port of Rotterdam

Over the past year, 29,646 seagoing vessels entered the port of Rotterdam, up more than 600 from 2016's 29,022.    The number of incidents in the port fell from 159 to 129, and included one ‘serious accident’ involving an inland vessel that went adrift after hitting a groyne with its rudder.   According to National Harbour Master René de Vries,

Imabari to Acquire Minaminippon Shipbuilding

Imabari Shipbuilding Co., Ltd. has reached an initial agreement to acquire compatriot Japanese shipbuilder Minaminippon Shipbuilding Co., Ltd. The takeover, which remains subject to further discussions before the deal is concluded, would take effect April 1, 2018. Minaminippon’s present shareholders

Forhaug Steps in as CEO at MMT

Peter Forhaug (Photo: MMT)

Marine surveying company MMT has appointed Peter Forhaug as acting CEO from January 1, 2018 while the Sweden based firm conducts its search for a permanent CEO.   Forhaug has a background in finance and has acted as a senior advisor to the board of MMT and is representing MMT at the board of the SMaRC research project.

ZIM Hires Geffen as Chief Digital Officer

(Photo: ZIM)

Israel's largest cargo shipping firm ZIM has hired Liav Geffen to serve in the newly created position of chief digital officer (CDO).   “The new Digital Unit in ZIM will drive the digital transformation the company has already embarked upon,” said ZIM president & CEO, Eli Glickman. “We intend to foster innovation and technology across the board,

China Rolls-out World's Second-Largest Ore Carrier

Photo: Shanghai Waigaoqiao Shipbuilding Co., Ltd

 The second-largest ore carrier in the world was officially named Yuanhehai and delivered to China Ore Shipping, affiliated with China Cosco Shipping Corporation, in Shanghai, the state media reported.   The 400,000-dwt mega ship, which is 362 meters long, 65 meters wide and 30.4 meters high, was

Capital Product Partners Buys Aframax

Photo: Capital Product Partners L.P.

 Capital Product Partners has announced that its Board of Directors has approved the acquisition of the eco-type crude tanker ‘Aristaios' (112,800 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding, S. Korea) for a total consideration of $52.5 million from the Partnership's sponsor, Capital Maritime & Trading.

Port of LA Sets New Record with 2017 Container Throughput

Photo: Port of Los Angeles

 The Port of Los Angeles moved more cargo in 2017 than in any time in the Port’s 110-year history, racking up 9,343,192 Twenty-Foot Equivalent Units (TEUs), a 5.5 percent increase over 2016’s record-breaking year. It’s the most cargo moved annually by a Western Hemisphere port.   “We are powering Los Angeles’ economy to new heights every year,

Cargotec Defines Sustainability Targets for 2018

Photo: Cargotec Corporation

 Cargotec Corporation's Extended Executive Board has set the company sustainability targets for 2018. The targets support Cargotec's strategic must-win battles - services, digitalisation and people leadership - with which the company aims to become the global leader in intelligent cargo handling.   Cargotec's

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