The head of the Panama Canal Authority said on Monday a Miami-based arbitration board rejected a demand by Spanish-led GUPC consortium for $192.8 million to cover cost overruns during the building of a third set of locks for the century-old waterway. GUPC or Grupo Unidos por el Canal includes Sacyr SA of Spain, Impregilo [IPGIN.UL].. read more →

The Incheon Port Authority (IPA) announced on August 3 that the total volume of container cargo transported via Incheon Port in the first half of this year will reach 1.61 million TEUs. According to a report titled “2017 First Half Cargo Volume Analysis & Second Half Forecasts” released by the IPA, cargo volumes at Incheon.. read more →

SOHAR breaks container throughput record Containers show double-digit year-on-year growth in Q2/2017 Over threefold growth in container throughput in just five years SOHAR Port and Freezone developing as key regional hub SOHAR has released new figures showing a solid first-half of 2017, as both the Port and Freezone continue to play a crucial role in.. read more →

he Port of Los Angeles closed its 12-month fiscal year with total cargo volumes of 9.2 million Twenty-Foot Units (TEUs), a new annual record for most container throughput for a Western Hemisphere port. Volumes increased 8.1 percent in June compared to the same period last year, marking the second busiest June in the Port’s 110-year.. read more →

With an increase in throughput of 3.9%, the port of Rotterdam can look back a good first half year. There was growth in eight of the ten market segments. The only falls were in the volumes of mineral oil products and other liquid bulk. In particular, the volume of containers handled (9.3% in TEU, 10.4%.. read more →

10 Jul 2017
July 10, 2017

Shipping Jargon

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Shipping Jargon We deal with a lot of shipping jargon and abbreviations on a daily basis, but not all of us know what it means and implications of incorrect usage of the jargon.. Here are several of the jargon we use in day to day shipping work.. This list will be a dynamic list, so please.. read more →

Maersk said it was too early to predict the financial impact of last month’s global Petya cyber attack that hit the shipping giant’s computers and delayed cargoes, but added that normal operations had resumed at its ports. A.P. Moller-Maersk, Danish owner of the world’s biggest container shipping line, operates 76 ports via its APM Terminal.. read more →

The world’s largest container ship, the 21,413 TEU OOCL Hong Kong, has made its maiden call at Hutchison Ports Port of Felixstowe. The call represented a double celebration it also marked the return of OOCL to the UK’s largest container port after a 17 year absence. Commenting on the two events, Clemence Cheng, Chief Executive.. read more →

French shipping company CMA CGM says it has reached a binding agreement with Danish rival Maersk to acquire Mercosul Line, one of the leading carriers in Brazil’s domestic container shipping market. Launched in 1996 and acquired by Maersk in 2006, Mercosul Line specializes in the Brazilian domestic transport market with a fleet of four ships.. read more →

Tanzania’s government signed a $154 million contract on Saturday with the state-run China Harbour Engineering Company (CHEC) to expand the main port in the commercial capital, Dar es Salaam. Tanzania is seeking financing for infrastructure projects as part of its plans to transform the country into a regional transport and trade hub. Under the contract.. read more →