The Marine Bunker Exchange (MABUX) World Bunker Index on week 39 showed a strong upward trend, with the 380 HSFO Index rising to US$494.86/MT, the VLSFO Index increasing to US$590.46/MT, and the MGO index growing to US$686.32/MT. The MABUX LNG Bunker Index in the Amsterdam-Rotterdam-Antwerp (ARA) region, calculated as the average price of LNG as […]

Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to completely take over North America’s largest marine terminal operator, Ports America, through the acquisition of interest from funds managed by Oaktree Capital Management LP (Oaktree). CPP Investments, the investment management organisation, has been a minority investor in Ports America since 2014 […]

Huge relief comes in for Indian exporters as the Indian government has extended the deadline by three months for the re-export of imported vessels lying at different domestic ports. Duty-free imports of containers are allowed currently with the condition of re-export in the next six months. According to the government notification, this extension of the […]

Taiwanese liner operators Yang Ming Marine Transport and Evergreen Marine Corporation have joined their country’s first financial blockchain platform. On 23 September, Cathay Financial Holdings and its affiliate Cathay United Bank launched Global Trade Sharing Blockchain. Seven other banks have also joined this platform, which aims to stamp out fraud through block encryption, which can prevent […]

The Santos Port Authority (SPA) has received the presentation of four companies for the deployment of a long-range wireless network of the Long Range (LoRa) type for application in Internet of Things (IoT) in the Brazilian port. Particularly, the presentation of the solutions was proposed by Teltex Tecnologia SA, Next Level Telecom Ltd, Kore TM […]

COSCO Shipping Ports Limited (CSPL) has agreed with Hamburger Hafen und Logistik AG (HHLA) to acquire a 35% share in HHLA Container Terminal Tollerort (CTT) in the port of Hamburg. The two companies successfully concluded negotiations about the strategic investment by CSPL in the German terminal today, 21 September. Although the closing of the transaction […]

A.P. Møller – Mærsk (APMM) has revised its full-year guidance for 2021 with an underlying EBITDA now expected in the range of US$22-23 billion and underlying EBIT expected in the range of US$18-19 billion, while previous expected EBITDA and EBIT were in the range of US$18-19.5 billion and US$14-15.5 billion, respectively. “Given the persistent congestions […]

The Port of Los Angeles (POLA) has recorded a steady amount of cargo volumes during August, compared to the same month last year, driven by the continuing consumer demand in the United States. In particular, the busiest port of the US handled 954,377TEU in August, representing a slight decrease in comparison to the same month […]

US furniture manufacturer MCS Industries, which had filed a complaint to the Federal Maritime Commission (FMC) alleging that Chinese state-owned shipping group COSCO Shipping Lines and Swiss-Italian liner operator MSC breached their shipping service agreements, has settled its dispute with COSCO. The complaint was lodged on 28 July and related to the provision of Trans-Pacific […]

AP Moller – Maersk has acquired the Portuguese cloud-based start-up HUUB in order to enhance its e-commerce network and facilitate its technology capabilities. HUUB, specialised in technology solutions for business-to-consumer (B2C) warehousing for the fashion industry, constitutes the third acquisition by Maersk within e-commerce logistics for this year, following the acquisitions of Visible SCM and […]