Milaha CEO Al-Hetmi to Step Down
Milaha president and CEO, Khalifa Ali Al-Hetmi, will retire in September, the Qatar-based marine transport and logistics conglomerate announced. Having joined Milaha 31 years ago, Al-Hetmi has been at the helm of Milaha for the past seven years. During his tenure as CEO, he oversaw the strategic acquisition of Qatar Shipping and Halul Offshore Services in 2010, and was responsible for the subsequent transformation of the newly created group and the launch of the Milaha brand in 2011.
Good News from China on GDP, Industrial Production
The economic news from China this morning were somewhat comforting but highlights that the economy activity in the world’s largest economy is certainly slowing down, reports BIMCO. Behind the headline GDP, other economic indicators such as industrial production, electricity consumption, credit growth and real estate investments suggest that things are still settling down at a slower pace going forward, from what have seen in recent years. All parts of the global shipping industry feels the impact as the Chinese economy changes in growth pace, size and composition.
Drydocks World Discusses Wide Ranging Bilateral Issues
Drydocks World received H.E. Cheong Ming Foong, the Consul General of Singapore along with Khalil A. Bakar, Center Director Middle East of Singapore Economic Development Board. Khamis Juma Buamim, Chairman and Dr. Markus Voege, VP – Operation and Production of Drydocks World and Maritime World, welcomed H.E. Cheong Ming Foong and Mr. Bakar to the Maritime Business Center at Dubai Maritime City for discussions on economic developments, renewal of agreements of understanding in the marine and maritime specialties…
Alexander & Baldwin Finalizes Financing
New A&B Will Have a Well-Capitalized Balance Sheet Providing Strong Liquidity and Financial Flexibility; Receives Favorable IRS Ruling on Tax-Free Nature of Planned Separation. Alexander & Baldwin Holdings, Inc. (NYSE: ALEX) ("Company"), successor by merger to Alexander & Baldwin, Inc., today announced that, in connection with previously announced plans to separate its transportation and land businesses into two publicly traded companies, it has entered into new financing arrangements for the land business ("New A&B"). The new financing arrangements will provide significant liquidity and support New A&B in the execution of its growth strategies as a stand-alone company and complement separately announced financing arrangements that have been made for Matson Navigation Company, Inc.
