AAPA ‘encouraged’ by US infrastructure plan
Feb06

AAPA ‘encouraged’ by US infrastructure plan

The American Association of Port Authorities (AAPA) is said to be encouraged by the recent release of the infrastructure investment outline by Senate Minority Leader Chuck Schumer (D-NY) and Senate Democrats. This is said to be due to the outlines’ the recognition that ports and waterways play a vital role in the nation’s economy, jobs and supply chain. “Coupled with President Trump’s stated intention to make major improvements in...

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Protection Vessels International: Weekly Maritime Security Report
Feb02

Protection Vessels International: Weekly Maritime Security Report

Southeast Asia Philippines: Three fishermen missing, presumed kidnapped in Sulu Sea 20 January Three Indonesian fishermen have gone missing in the Sulu Sea off the southern Philippines. Multiple sources indicated the men, who went missing on 18 January, were kidnapped by the Abu Sayyaf Group, which has targeted maritime vessels in waters between Malaysia, Indonesia and the Philippines since 2016. PGI Analysis: It is likely the...

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Hard times ahead for China’s economy, says Alibaba’s Jack Ma
Jan31

Hard times ahead for China’s economy, says Alibaba’s Jack Ma

China’s short-term economic outlook will be “tougher than expected” and trade friction was inevitable with the US, Alibaba executive chairman Jack Ma said as China was reported to be lowering its growth target for this year. “In the coming three to five years … the economic situation will be even more arduous than everyone had expected,” said the e-commerce billionaire at an annual meeting of the General Association of Zhejiang...

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Korean big 3 shipbuilders continue tough restructuring this year
Jan27

Korean big 3 shipbuilders continue tough restructuring this year

South Korea’s three largest shipbuilders will continue intensive downsizing programs this year, cutting payrolls further and selling additional assets to regain global competitiveness amid a deep recession across the industry. The shipbuilders aim to jettison assets worth more than 4 trillion won ($344 million) by the end of this year, while raising a new order target by three times from what they earned last year. That’s according to...

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Cargo Shipping Market Analysis, Trends, Forecast, 2017-2027
Jan25

Cargo Shipping Market Analysis, Trends, Forecast, 2017-2027

Future Market Insights has announced the addition of the “Cargo Shipping Market: Global Industry Analysis and Opportunity Assessment 2017-2027″ report. Trade liberalization and global economic growth boost the cargo shipping market. In the past decade cargo shipping market has fared quite successfully. With economic growth and development there is a direct increase in commodity consumption, which drives the cargo shipping...

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Hyundai Merchant Marine to Become No. 2 stakeholder in Long Beach Terminal
Jan24

Hyundai Merchant Marine to Become No. 2 stakeholder in Long Beach Terminal

Hyundai Merchant Marine Co. (HMM), has decided to buy a 20 percent stake in Hanjin Shipping Co.’s Terminals International LLC (TTI), which operates a terminal at the Port of Long Beach in the United States. With the latest decision, the company will be able to secure a stable profit on the Asia-U.S. services. HMM, South Korea’s largest shipping line following Hanjin’s collapse, said its board of directors agreed to buy a 20 percent...

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New South Korean Container Company Launched
Jan23

New South Korean Container Company Launched

A South Korean construction company, Samra Midas (SM) Group, is entering the container shipping domain with the launch of SM Line. The company made the announcement after it confirmed that SM Group would complete the acquisition of the bankrupt Hanjin Shipping’s Asia-to-US assets. The shipping company plans to acquire 12 container ships in the first half of this year and start its liner business in March and to build its fleet to...

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Seaboard Marine Announces New Ocean Freight Service to St. Lucia
Jan18

Seaboard Marine Announces New Ocean Freight Service to St. Lucia

Seaboard Marine recently announced a new ocean freight service in the Caribbean that will now include Castries, St. Lucia. The new weekly service is support by two container ships that will commence Thursday, January 26th, 2017, departing from PortMiami, Florida with a five (5) day transit to Castries, St. Lucia. “This direct, weekly service enhancement gives our valued customers an early departure and the shortest available...

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