Maritime News

Fesco Transportation Group’s profit soared 30 percent in the fourth quarter of 2014, but the weak ruble and lower rail freight rates dragged down the full-year result.

Israeli carrier Zim Integrated Shipping Services sharply narrowed its net loss to $127 million in 2014 from $343 million in 2013, with the turnaround accelerating in a strong final quarter.

HONG KONG — The Harper review of Australia’s competition laws has recommended sweeping changes aimed at improving the cou


Single-lane Suez Canal transit
The Egyptian government expects to meet its goal of completing the $4 billion widening of the Suez Canal within a year, allowing shippers to access a second channel by August.

China’s Cosco Pacific will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course on its opposition to port privatization.

TOTE Marlin-class container ship, powered by LNG
TOTE Inc. has scheduled an April 18 launching for its first container ship built to operate on liquefied natural gas fuel. The new ship will be operated by Sea Star Line between Jacksonville, Florida, and San Juan, Puerto Rico.

CMA CGM container ship
CMA CGM will sign an order for three 20,600-TEU container ships this week, the French carrier’s vice chairman said.

CMA CGM’s profit soared more than 43 percent in 2014 as the French carrier transported a record number of containers, cuts costs and trimmed its debt.

Carriers that have been passing on the benefits of lower fuel costs to shippers may not be so generous as freight rates continue their steady decline, is the view of Drewry in its latest Container Insight Weekly.

Hyundai bulk carrier
Hyundai Merchant Marine is selling its bulk shipping division, the latest in a series of assets that South Korea’s second-largest shipping conglomerate is shedding to raise liquidity.