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COSCO Cancels Container Service at Balboa in Panama

COSCO Cancels Container Service at Balboa in Panama

  China’s state-owned shipping company COSCO Shipping Lines informed customers in a memorandum dated March 10 that it has suspended all services at the Port of Balboa, Panama, at the Pacific termin...

China Reports it Held “Talks” with Maersk and MSC in Beijing

China Reports it Held “Talks” with Maersk and MSC in Beijing

  China’s Ministry of Transport issued a one-sentence notice reporting it had held “talks” with both Maersk and MSC Mediterranean Shipping Company. While no details were announced, it quickly raise...

Trump Administration Details $20B Maritime Reinsurance to Get Oil Moving

Trump Administration Details $20B Maritime Reinsurance to Get Oil Moving

  With the global energy markets in disarray, the Trump administration moved quickly and, late on Friday, March 6, announced more details on its plans for a $20 billion maritime reinsurance program...

Shipping Concerns Grow as Maersk and Hapag-Lloyd Suspend Routes

Shipping Concerns Grow as Maersk and Hapag-Lloyd Suspend Routes

  Container shipping continues to reel as the war in the Persian Gulf reaches its first week, and U.S. and Israeli officials are saying it could continue for weeks. Against that backdrop, an announ...

CK Hutchison Seeks $2B in Damages from Panama as It Takes More Legal Steps

CK Hutchison Seeks $2B in Damages from Panama as It Takes More Legal Steps

CK Hutchison and its Panama-based subsidiary, the Panama Ports Company, have taken a series of additional legal steps in the ongoing dispute over the concession to operate terminals in the ports of...

Norwegian Takes Delivery on New Cruise Ship in Long-Term Growth Plan

Norwegian Takes Delivery on New Cruise Ship in Long-Term Growth Plan

Fincantieri and Norwegian Cruise Line celebrated the delivery of the Norwegian Luna, the second ship in the company’s Prima Plus class and the midpoint of a six-ship order, which will later be follo...

Insurance and Naval Escorts May Not be Enough to Reboot Gulf Shipping

Insurance and Naval Escorts May Not be Enough to Reboot Gulf Shipping

War risk at the Strait of Hormuz continues to deter shipowners from venturing near to Iran, and AIS-active traffic remains 90 percent below normal levels, according to MarineTraffic. Despite the haz...

Oman Rescues Crew of UAE Containership Struck by Missile

Oman Rescues Crew of UAE Containership Struck by Missile

A small feeder containership, Safeen Prestige, became the fourth vessel targeted by the Iranians in and around the Straits of Hormuz over the past 24 hours. The Royal Navy of Oman reports it evacuat...

Report: MSC and BlackRock Push to Complete Hutchison Deal for Port Ops

Report: MSC and BlackRock Push to Complete Hutchison Deal for Port Ops

Nearly a year after the deal was first announced for a consortium of MSC Mediterranean Shipping Company and U.S. investment group BlackRock to acquire the global port operations of Hong Kong-based C...

Jebel Ali Port Resumes Operations as Most Regional Ports Remain Operational

Jebel Ali Port Resumes Operations as Most Regional Ports Remain Operational

  After widespread reports of a possible missile strike and a fire at the Jebel Ali Port in Dubai, operations resumed on Monday. Most ports across the Middle East report operations are continuing d...