MPC Capital and O.S. Energy to build next-gen OSV fleet
Hamburg-based asset and investment manager MPC Capital and offshore service provider O.S. Energy have teamed up to build a fleet of next-generation offshore service vessels. These purpose-built offshore survey and service vessels (OSSV) will be used primarily in the offshore wind industry in the North and Baltic Seas. The modern design makes them suitable for […]
ICTSI 9M2024 net income soars 31% to US$633 million
International Container Terminal Services, Inc. (ICTSI) announced its unaudited financial results for the first nine months of 2024, showing a 14% rise in revenue from port operations to US$2 billion, up from US$1.7 billion in the same period of 2023. “I am pleased to report another excellent set of results in which we have delivered […]
MAC Shipping inks first newbuilds
Singapore’s MAC Shipping is expanding its fleet via a debut order for stainless steel chemical tanker newbuilds. The company has tapped China’s Jiangxi New Jiangzhou Shipbuilding Heavy Industry for four 25,900 dwt units costing $50m each, according to brokers, with deliveries starting in 2026. MAC Shipping was established in 2021, initially operating break bulk vessels […]
Container ship deliveries hit new record of 2.5 million TEUs
“Just ten months into 2024, shipyards’ deliveries of container ships have reached a new annual record. A total of 410 ships with a capacity of 2.5 million TEUs have been delivered, surpassing the previous full-year high of 2.3 million TEUs in 2023,” stated Niels Rasmussen, Chief Shipping Analyst at BIMCO. As recycling of older ships […]
Geopolitical tensions and strategic investments reshape Baltic port dynamics amid Ukrainian conflict
The war in Ukraine has significantly impacted Baltic container ports in various ways. These changes underline the broader shifts and adaptations needed within the Baltic maritime sector, as ports adjust to new economic realities and navigate the disruptions caused by the war in Ukraine. This content is locked Select a CN Premium Subscription Package […]
Air cargo stalwart Eric Wilson scoops Qatar Cargo role
Qatar Airways Cargo has appointed Eric Wilson to the role of senior vice president of cargo sales. According to the airline, Wilson will oversee all aspects of cargo sales, including customer relationship management, global accounts, market development and “ensuring the highest standards of service for our customer base”. According to his LinkedIn profile, Wilson has […]
cargo-partner enhances air freight services connecting Far East with UK and Ireland
cargo-partner, a subsidiary of Nippon Express Holdings, introduced a new air freight service tailored to support businesses shipping from key locations across the Far East to the UK and Ireland. This service provides strengthened connections between Shanghai, Beijing, Guangzhou, Hong Kong, Taiwan, and major UK and Irish destinations such as Manchester, London, and Dublin. The […]
Strike ends as machinists approve new contract with Boeing
Members of the International Association of Machinists (IAM) have ratified a four-year contract with Boeing, ending a 53-day strike that cost the company billions of dollars and forced it to halt aircraft production in the Pacific Northwest. The 33,000-strong union said on November 4 that members ratified the deal by a 59%-41% margin. Union workers […]
Holiday pressures and increasing freight rates – Dimerco’s November Freight Report
Every annual holiday season spikes not just the excitement and sugar levels, but also supply chain issues and challenges and a surge in volumes especially in the USA. The holiday surge brings with it heightened pressures and shifting dynamics which affect the movement of both ocean and air cargo including surging rates, constrained capacity, and […]
APM Terminals announces new leadership at Port of Salalah and SCCT
APM Terminals (APMT) has appointed new Managing Directors for Oman’s Port of Salalah and the Suez Canal Container Terminal (SCCT). APM Terminals and the Port of Salalah announced the appointment of Steven Yoogalingam as the new Managing Director of the Port, effective from 1 November 2024. Yoogalingam brings a wealth of experience to this role, […]