COSCO continues bulker fleet expansion with newcastlemax series
Chinese state-owned shipping giant COSCO has further expanded its dry bulk newbuilding initiative with up to eight newcastlemax vessels at its group yard, COSCO Shipping Heavy Industry Yangzhou. The deal with an undisclosed value covers three firm and five optional 210,000 newbuilds, which will be operated by COSCO Shipping Bulk. The vessels will be methanol- […]
Panama president hits back at Trump over canal takeover threat
Panama’s president, José Raúl Mulino, has rejected US President-elect Donald Trump’s comments that his new administration could move to take back control of the Panama Canal after accusing the country of charging excessive rates on US ships. Speaking at his post-election rally in Arizona over the weekend, Trump complained that canal authorities are collecting unreasonable […]
Yang Ming eyes up to 13 newbuilds
Taiwanese shipping line Yang Ming Marine Transport has moved to add up to 13 containerships as it looks to renew its fleet. The world’s 10th and Taiwan’s second largest liner operator said it would order ships between 8,000 teu and 15,000 teu to replace its over-20-year-old 5,500 teu to 6,500 teu series. Yang Ming has […]
Longship boosts orderbook with newbuild brace
Netherlands-based shortsea operator Longship Group has bolstered its orderbook of eco-friendly general cargo vessels. The company has signed up for a pair of 3,700 dwt GS Eco-Freighters at compatriot GS Projects and Ship and Steelbuilding (SaS) in Waterhuizen following an order for two similar ships, which have already been delivered and named Longsun and Longsky […]
AD Ports Group secures US$2 billion refinancing deal
AD Ports Group has successfully refinanced and expanded its existing Revolving Credit Facility (RCF) from US$1 billion to US$2.125 billion, available in both AED and USD tranches. This strategic move aims to optimize financial costs by securing improved interest rates and extending the facility’s maturity from 2026 to 2028, with an option for further extension […]
Intra-Asia rates peak ahead of Christmas
Intra-Asia freight rates have reached new year-to-date highs, powered by double-digit growth in China-Southeast Asia trade. This content is locked Select a CN Premium Subscription Package To Unlock The Content! Remember Me Lost your password? Don’t have an account? Register If you liked this post, please consider donating5€10€20€50€ The post Intra-Asia rates peak ahead of […]
Cathay air cargo volumes rise 15% in November
Perishables, machinery and e-commerce all helped Cathay Pacific grow year on year air cargo volumes by 15% in November. The airline carried 142,601 tonnes of cargo in November, an increase of 15% compared with November 2023. The month’s cargo revenue tonne kilometres (RFTKs) increased 11.9% year on year. The cargo load factor also increased by […]
Air New Zealand Cargo’s festive freight takes flight
Air New Zealand Cargo anticipates it will move 5m kilograms of cargo throughout December and January, with demand for goods from Kiwi exporters including cherries, meat and seafood. The Auckland-headquartered airline’s general manager of cargo Anne Dunne said there is an exceptional fresh produce market in Aotearoa (Māori language name for New Zealand). “We love […]
Saipem back in business in Brazil
A Brazilian court has informed Italian offshore engineering and construction giant Saipem that it can resume normal operations in Brazil. Saipem was suspended from signing new contracts with the Brazilian public administration for two years following a probe into alleged irregularities surrounding a deal signed with Petrobras in 2011. Allegedly, a representative of the Italian […]
Chinese bulker suspected of Baltic Sea cable sabotage sets sail for Egypt
Yi Peng 3, a 23-year-old panamax bulker owned by Ningbo Yipeng Shipping, is finally on the move after representatives from several European countries observed China’s investigation of the vessel. The Yi Peng 3 is linked to the severing of two data cables in the Baltic Sea and was moored in the Kattegat Sea for a […]