Ports Push for Smart Europe

European ports have prepared a memorandum emphasising the role port managing bodies can play as facilitators of the port ecosystem in view of the European elections, which will lead to a new Commission, a new European Parliament and a new vision…

GSL Acquires Three Boxships

Marshall Islands-incorporated Global Ship Lease (GSL) announced that it has agreed to acquire three 2004-built, 7,849 TEU containerships for an aggregate purchase price of $48.5 million.Upon delivery during the second quarter, the first vessel will commence a five-year charter with Maersk Line…

Teekay Gets $450mln for Shuttle Tanker Fleet

The midstream services provider to the offshore oil production industry Teekay Offshore Partners announced that in accordance with previously noted financing plans, it has secured a new $450 million revolving credit facility for sixteen shuttle…

MOL to Join TCFD Consortium

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it will participate in the Task Force on Climate-related Financial Disclosures (TCFD) Consortium, which was established to provide a forum for discussions among corporations and…

Tanker Market Faces Headwinds: Teekay

Average crude tanker spot rates moderately increased during the first quarter of 2019, as some of the positive drivers from late 2018 continued into early 2019, said Teekay Tankers."These included high seasonal oil demand, the impact of winter weather delays…

Adani to Develop Container Port in Myanmar

India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions…

CMA CGM Orders 50,000 Traxens Trackers

French liner carrier CMA CGM has announced a new order for 50,000 Traxens trackers, aiming to fit containers with connected trackers to provide greater traceability – monitoring location, temperature, shocks, and when container doors are opened.As…

Columbia Class Subs Take Shape in Virginia

A plasma-burning machine cut the first steel plate that will be used to build Columbia (SSBN 826), the lead ballistic missile submarine. As Newport News continues its digital transformation, the event also marked the first class of submarines…

Barges Break Free, Hit Oklahoma Dam, Sink

According to a report on WeatherChannel.com, a pair of barges broke free and hit Lock and Dam 16 on the flooded Arkansas River on Thursday, May 23, 2019, north of Webber Falls, Oklahoma.Early reports citing the Oklahoma Highway Patrol said there…

April gain in US truck tonnage likely lower than reported

After months of dismal surface freight demand, for-hire truck tonnage surged in April, climbing 7.4 percent from March and rising...