COSCO Shipping’s Takeover Of OOCL To Complete By End-June: Vice Chairman

April 04, 2018

COSCO Shipping’s planned acquisition of Orient Overseas Container Line (OOCL) is on track to be completed by the end of June, the company’s vice chairman Huang Xiaowen said on Tuesday. COSCO is still answering questions from the Committee on Foreign Investment in the United States on the deal, and is also awaiting a number of domestic approvals, Huang told a press conference in Shanghai. …See Details...

DKB Intensively Builds Synergy for State Shipbuilder Reputation

April 04, 2018

One of Indonesia’s leading state owned shipbuilder, PT. Dok dan Perkapalan Kodja Bahari (DKB), is intensively building synergy with other stakeholders in a bid to build up its reputation, socialize its role in the country’s maritime sector, build up competitiveness, and to support its internal performance improvement. Relating to the mission and target, recently, on March 28, PT. DKB President Director Wahyu Suparyono became a speaker at Army Staff Command School (Seskoad), briefing as many as 267 Army’s middle officer (lieutenant colonel and colonel) on its mission and target. …See Details...

Fire Off Balikpapan Kills Two Fishermen

April 04, 2018

On Saturday, a fire broke out near the bulker Ever Judger at Balikpapan Bay, Indonesia. Two individuals - believed to be fishermen - were killed, and one of the Judger's crewmembers suffered burn injuries. All 20 members of the Judger's crew were successfully evacuated. Indonesian authorities reported that the fire broke out during a burn-off operation intended to clean up a fuel oil spill. The fire has since been extinguished, but remnants of the spill remain. The source of the oil has not been determined. …See Details...

Investment in ONE Container Shipping Alliance Complete

April 03, 2018

​The Japanese container shipping alliance Ocean Network Express (ONE) commenced operation on April 1, and the alliance members have now completed their investment payments The total investment made by Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) was $3 billion with K Line contributing 31 percent, MOL contributing 31 percent and NYK contributing 38 percent.…See Details...

Notice of Business Commencement of Ocean Network Express

April 03, 2018

Ocean Network Express Pte. Ltd. (hereinafter referred to as “ONE”) is pleased to announce the commencement of container shipping businesses on Apr 1, 2018. ONE is the result of an integration of the container operations of three Japanese shipping carriers, namely, Kawasaki Kisen Kaisha, Ltd ("K" Line), Mitsui O.S.K. Lines, Ltd (MOL), and Nippon Yusen Kabushiki Kaisha (NYK). The company seeks to meet customers’ needs by providing high-quality, competitive container shipping services with the consolidation and enhancement of the three companies’ global network and service structures.…See Details...

Sinokor, Heung-A to Unify Liner Shipping Services in Asia

April 02, 2018

South Korea’s mid-sized liners Sinokor Merchant Marine Co. and Heung-A Shipping Co. agreed to merge their container shipping services by next year to rationalize operations ahead of joining up with bigger Hyundai Merchant Marine. The two companies would sign the deal on April 3, according to the Ministry of Oceans and Fisheries and the Korea Shipowners’ Association on Wednesday. The Korea Shipping Partnership (KSP), an alliance of 14 liner operators, was launched last August under state sponsorship to restore Korea’s maritime status following the collapse of Hanjin Shipping, which had been Korea’s flag sea carrier and the world’s seventh largest shipping line…See Details...

Hapag-Lloyd Triples its Operating Result in 2017

March 30, 2018

The German-based container shipping company also recorded a positive group net result of around $39 million (€32 million). Based on the audited figures, earnings before interest, taxes, depreciation and amortization (EBITDA) increased significantly to $1.3 billion (EUR 1.055 billion) (2016: $748 million (€607 million)). Transport volume increased significantly by 29% to 9.8 million TEU (2016: 7.6 million TEU), driven by the merger with United Arab Shipping Company (UASC) and a healthy underlying organic volum…See Details...

SeaBird Exploration: Source Work in Asia Pacific region

March 29, 2018

SeaBird Exploration is pleased to announce that it has signed an agreement to provide a source vessel for an upcoming undershoot project in the Asia Pacific region. The project is anticipated to commence during Q2 and will have a duration of approximately one month. SeaBird will be using the Voyager Explorer for the project.…See Details...