Operations at New York and New Jersey’s cargo terminals were being restored on Friday night after more than a thousand longshoremen walked off the job earlier in the day, shuttering one of the United State’s busiest port networks, officials said.
Archives for January 2016
Drewry: Dry Bulk Shipping Needs Drastic Measures
Dry bulk shipping is facing a perfect storm and requires drastic supply side measures if the industry is to return on course to profitability in the medium term, according to the latest edition of the Dry Bulk Forecaster report published by global shipping consultancy Drewry.
DNV GL Gives General Approval for VARD’s New LNG Tank
VARD’s new LNG tank design has been granted General Approval for Ship Application (GASA) by DNV GL. The new LNG-type B-tank design is based on vertical cylindrical-shape geometry and has a patented support design.
Listing Freighter Drifts Towards France’s Atlantic Coast
A crippled cargo ship was drifting slowly towards the French Atlantic coast on Friday as rescue teams struggled to board the distressed vessel.
Mitsui OSK (MOL) May Book 180 Bln Yen Special Loss On Restructuring
Mitsui OSK Lines (MOL), one of Japan’s Big Three shippers, may suffer up to a 180 billion yen ($1.5 billion) special loss in the fourth quarter ending in March as it restructures its operations amid slowing global trade and vessel oversupply. The expected charge comes as the Baltic dry-bulk index , a basket of dry […]
Singapore Slaps S$180,000 Fine On N. Korea-Linked Shipper
Singapore-based Chinpo Shipping Company (Private) Ltd was fined S$180,000 ($125,698) on Friday for facilitating a shipment of arms to North Korea in violation of U.N. sanctions.
Watch: Salvage Operation of Car Carrier Baltic Ace
The Baltic Ace car carrier sank in 2012 with more than 1,400 cars on board after a collision with a container ship near the entrance of the main shipping lane leading to Rotterdam port.
MSC Flamina Accident Helps In Setting Up New Guidelines For Ships In Need Of Assistance
European Commission presented the new EU operational guidelines for ships in need of assistance. The guidelines have been developed by an expert group composed of Member States’ competent authorities, with the input and support of industry stakeholders, following an initiative of the Commission in the aftermath of the MSC Flaminia accident.
CMA CGM Steps Up Iran Presence With IRISL Deal
France’s CMA CGM, the world’s third-largest container shipping group, will expand its presence in Iran after signing a landmark deal on Thursday with the Islamic Republic of Iran Shipping Lines (IRISL).