Maritime

Deal signed to acquire 100 percent of the Offen Group subsidiary.

“It became clear that we could become a stronger, more competitive organization by joining forces,” Trinity’s Jeff Banning said.

The interoperable messaging solution xTrade is designed to allow organizations to safely share information with suppliers and business partners.

The Shipping Act provides the FMC special oversight of government-controlled common carriers operating in U.S. trades to ensure “just and reasonable” rates.

Box shipping executives may allow themselves a small sigh of relief as the latest freight rates data shows that the recent decline in freight rates appears to have stopped. And, on some routes, it’s even marginally increasing.

Overseas Orient Container Line (OOCL) has sold its Long Beach Container Terminal for US$1.78 billion (HK$13.973 billion) in cash, it was announced today by OOCL’s owner, Overseas Orient International Ltd (OOIL; HKEX:0316). OOIL says that it expects to realize a gain of  just under US$1.3 billion from the deal.

Orient Overseas (International) Limited announced the sale for $1.78 billion of Long Beach Container Terminal to a consortium led by Macquarie Infrastructure Partners.

Urbain to leave as CEO June 1, become top aide to new chairman Saade.

Putting export-import documents online may make a difference between container arriving to customer on time or sitting in a warehouse.

Dry bulk shipping faced multiple headwinds in the first quarter, but NYSE-listed Scorpio Bulkers benefited from its smaller ships and its diversification into the product-tanker sector.

Hernán Rincón Lema is stepping down from airline holding company and Mike Stolzman is stepping in at port subsidiary.

Results of NYK, MOL and “K” Line suffer from loss by their joint venture, Ocean Network Express.

Tokyo, Japan-based ocean carrier, Kawasaki Kisen Kaisha https://kline.com/ (TYO:9107) has recorded a fall in revenues of Japanese Yen of 325,293 million down to JPY 836,731 million (US$7.5 billion) for the fiscal year ending March 31, 2019. Several board members have been removed.

Tonya Davis allegedly said individuals had passed driver skills tests when she knew the exams had not been administered.

The event also marked the first berthing of a containership at the new ICAVE terminal.

One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.

But because so many containerships are relatively new, the pool of candidates for scrapping is limited.

The memorandum of understanding was signed during the recent Belt and Road Forum in Beijing to further develop links between China and Hungary.

The consensus at a panel in Houston is that marine gasoil will be the first fuel to get a big boost in demand as IMO2020 approaches. That’s not good news if you’re a diesel buyer.

Trans-Pacific volumes and revenue up with OOIL acquisition, but stand-alone results reflect seasonal weakness.