Evergreen Line Orders Ten 2,800 teu Ships

 Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.

ZIM Integrated Shipping Remains Profitable

 Despite challenging market environment with freight rates reaching historic lows in several key trades,  ZIM Integrated Shipping Services continues to outperform

Controversial Nicaragua Canal Project Postponed

 China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016.

Pressure on Container Market Akin to 2008 Recession: UASC

 A marked drop in Asian imports to Europe, made worse by a strong dollar, has exacerbated the pressure on shipping lines already struggling with massive over capacity,

SSAB, Aspo ESL Shipping Pact On Sea Transport

 The global steel company SSAB and Aspo Group’s ESL Shipping Ltd have signed a long-term frame agreement covering sea freight for SSAB’s inbound raw material sea

ESL Shipping to Enter the Renewable Energy Market

 ESL Shipping and AB Fortum Värme have signed an agreement for biofuel transport. The agreement provides ESL Shipping with access to the renewable fuels transport market.

Shipping to See Further Consolidation

 The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Maersk to Idle Vessel

 The world's biggest container-ship operator Maersk Line  has confirmed market talk that it has temporarily idled one of its largest vessels - yet another sign that the industry is in dire straits,

Idling Fleet Continues to Surge

 Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Italy: Gas Supplies No Worry After Russia-Ukraine Spat

Italy has no cause for concern over its gas supplies after Russia halted flows to Ukraine, the Industry minister said on Wednesday.   "The situation as regards

Two New Crewboats for ISS

Maritime and logistics service provider Inchcape Shipping Services (ISS) has expanded its launch fleet with two more fast crewboats, bringing its total fleet size to 18 vessels.

OPEC to Stay the Course in 2016

Gulf delegates say OPEC won't cut supply without non-OPEC. OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy's chief architect,

BG Group's Australian LNG Plant Fully Operational

BG Group has started commercial operations at the second train at its Queensland Curtis LNG (QCLNG) plant and has taken full control of both trains and associated facilities at the Australian site,

Abu Dhabi's TAQA to Shed U.S. Wind Asset

Abu Dhabi National Energy Co , or TAQA, has filed with U.S. energy regulators to sell its stake in the Lakefield wind power plant in the U.S. state of Minnesota to a Qatari company.

Saudi Aramco Seeks Drilling Cost Discounts

State-run Saudi Aramco has asked oilfield service companies to extend discounts to next year as the oil giant cuts costs amid falling oil prices, industry sources familiar with the matter said.

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

U.S. Road Traffic Soars

Traffic on U.S. roads is growing at the fastest rate in almost two decades, as cheap gasoline, coupled with a strong economy, encourages motorists to use their cars more.

Ukraine to Stop Buying Russian Gas

Ukraine says to stop buying Russian gas; says cheaper prices offered from Europe. A clash over natural gas pricing between Russia and Ukraine escalated on Wednesday

Oil Falls as Glut, Dollar Weigh

Dollar at 8 month high against currencies basket; U.S. crude stocks rise 2.6 mln barrels in week ended Nov 20. Crude oil futures fell back towards $45 per barrel

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