Category: Foreign News

Baltic Dry Index jumps 5% on higher rates for bigger vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, extended gains on Friday, helped by higher rates for bigger...

Narendra Modi

India offers N2.25tr concessional credit to Nigeria, 53 others

The Prime Minister of India, Narendra Modi, yesterday said it would give N2.25trillion ($10billion) concessional lines of credit to Nigeria and 53 other African nations...

S. Korean Supreme Court upholds prison sentence for Sewol ferry operator boss

The South Korean Supreme Court has upheld the verdict against the head of Sewol ferry operator Kim Han-Sik, who has been sentenced to seven years of prison on the...

Maersk sees stable but slower growth in regional demand

Container shipping giant Maersk Line has so far not seen major benefits from the fall in bunker and crude oil prices, and its profit outlook is still driven primarily by...

APM Terminals goes renewable with wind power at Maasvlakte II

APM Terminals has signed a two-year, €5 million (USD $6.23 million) contract with Amsterdam-based NV Nuon Energy for the supply of environmentally-sustainable...

Hong Kong port plan till 2030 released

A study on Hong Kong’s strategic plan for its port, The Strategic Development Plan for Hong Kong Port 2030 (HKP2030), done by BMT Asia Pacific on behalf of the...

AAPA urges Obama to help resolve West Coast dockworker talks

The American Association of Port Authorities (AAPA) urged the US President Barack Obama to assign federal mediators to help resolve the ongoing contract talks between...

Denmark arrests former OW Bunker manager wanted in Italy

Denmark has arrested a former manager of collapsed ship fuel supplier OW Bunker and intends to hand him to Italy, where he is suspected of fraud, the Danish public...

Lack of evidence frees suspected pirates in Seychelles

The small island nation of Seychelles has acquitted three previously convicted Somali pirates and has ordered their repatriation, marking the latest judiciary win for...

ITF warns of worker exploitation in Australia

The International Transport Workers’ Federation (ITF) is calling on the Australian government to improve labour regulations after the Federal Court found two...

ICS ends opposition to ballast water convention after IMO progress

The International Chamber of Shipping (ICS) will no longer actively discourage the ratification of the Ballast Water Management Convention, since the IMO’s Marine...

Italian shipping firm to pay $2.75m fine over magic pipe pollution case

An Italian shipping firm has pleaded guilty and agrees to pay a $2.75 million criminal penalty for falsifying oil record books in relation to the use of a so-called...