Saudi Arabia’s Port of NEOM open for business
The Port of NEOM, described as the primary seaport of entry to the northwest of Saudi Arabia and which now incorporates Duba Port, is up and running. The development of the Port of NEOM, located in Tabuk Province, Saudi Arabia, is progressing with over SAR7.5 billion ($2.025 billion) invested so far. The port is set […]
AD Ports Group inks MoU to develop Karachi Port
Abu Dhabi’s AD Ports Group has reached an agreement with Pakistan to develop and enhance port projects in the country, after a senior UAE delegation visited Karachi. The AD Ports Group and the Karachi Port Trust (KPT) have signed a Memorandum of Understanding (MoU) with the aim of fostering economic growth in Pakistan. The collaboration […]
🚢 Express World Shipping Announcement: New Dedicated Route from Jebel Ali Port to Bandar Abbas Port with MV Kayan Zanzibar 🚢
Attention all importers and exporters! Express World Shipping is excited to announce the addition of a new dedicated route Jebel Ali Port to Bandar Abbas Port, operated by our state-of-the-art vessel, MV Kayan Zanzibar. This expansion is part of our ongoing commitment to providing efficient and reliable shipping services to our valued customers. Key Features of […]
RUSSIA SHIFTS TO DUBAI BENCHMARK IN INDIAN OIL DEAL – SOURCES
Russia’s largest oil producer Rosneft ROSN.MM and India’s top refiner Indian Oil Corp IOC.NS agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the deal said. The decision by the two state-controlled companies to abandon the Europe-dominated Brent benchmark is part […]
Russia and Venezuela Plan to Set Up Joint Shipping Line
Officials in Russia and Venezuela are making plans to launch a joint shipping company in order to boost trade between the two heavily-sanctioned nations. The route could serve the Russian-occupied port of Sevastopol, providing a conduit for trade in food and industrial goods. “The Venezuelan side is interested in expanding the volume of mutual trade,” […]
Blockchain Technology and International Trade
Blockchain is a digital ledger technology that allows secure and transparent record-keeping of transactions in a decentralized and distributed network. In a blockchain, transactions are verified and recorded in blocks, which are linked together in a chronological chain using cryptographic algorithms. Each block contains a unique digital signature, or hash, which makes it impossible to […]
Sustainable Logistics: Definition, Strategy & Applicability
The demand for sustainability in logistic operations is increasing faster than ever. Contrary to the belief that cutting costs in the logistics department can serve more profits to a business, it’s quite the opposite now. With increasing environmental awareness among business leaders and the public, sustainable logistics is serving as the key to keeping your company […]
A Comprehensive Guide to Shipping to Nhava Sheva – Everything You Need to Know
The Port of Nhava Sheva, also known as Jawaharlal Nehru Port, is India’s largest container port and one of the most important hubs for international trade. It is on the western coast of India, near Mumbai, and is the main entry point for international trade into India. It is the busiest container port in India […]
7 ways to avoid common freight and shipping fraud
1. Be rate savvy Competitive pricing is great, but a scammer posing as an ocean freight forwarder may be trying to lure you in with an extremely reduced rate. Do your research by gathering a range of quotes from other freight forwarders to get an idea of what a shipment typically costs. It is all […]
Port Everglades Gets $32 Million Grant for Sea Level Rise Infrastructure
Port Everglades was awarded a $32 million grant this week to mitigate environmental threats from flooding and sea level rise and ensure continued access for marine vessels. This grant is part of more than $275 million for resilience projects issued by the Florida Department of Environmental Protection. The port will use the Resilient Florida Infrastructure […]
DP World confirms winning bid for new mega box terminal in India
DP World has announced that it has won a major concession to develop, operate and maintain a new container terminal at Deendayal port in Gujarat, on the western coast of India. The contract was awarded by the Deendayal Port Authority on a Build-Operate-Transfer (BOT) basis. Specifically, the project involves the construction of a mega-container terminal […]
Vietnam wants to double inland container handling
Vietnam’s government is considering investing up to US$800 million to add more inland container depots (ICDs) in the country by 2030. According to the 2021-2030 ICD Development Plan that the Ministry of Transport submitted to Prime Minister Pham Minh Chinh, ICD development will be focused on major ports such as Hai Phong in the country’s […]
TotalEnergies Marine Fuels, Hapag-Lloyd complete first biofuel bunker term delivery in Singapore
TotalEnergies Marine Fuels has successfully completed its first refuelling of a Hapag-Lloyd container vessel in Singapore with sustainable, UCOME (Used Cooking Oil Methyl Ester)-based, marine biofuel. This first bunker operation marks the start of a term supply agreement between the two companies, which commits TotalEnergies to provide VLSFO (Very Low Sulfur Fuel Oil) blended with […]
AYK Energy, HSG ink agreement for zero emission container vessel
AYK Energy, marine battery manufacturer company, has signed a new deal with Holland Shipyards Group (HSG) to supply the zero-emission container vessel, FPS Waal with new equipment. According to Chris Kruger, founder of AYK Energy, the contract will see AYK supply two high-density DNV-approved Aries 88 lithium batteries to the vessel. He also confirmed the […]
Adani Ports posts strong financial results
Adani Ports and Special Economic Zone (APSEZ), India’s largest port operator, has released its third-quarter and nine-month results for the period ending 31 December 2022. APSEZ carried 252.9 million metric tonnes of cargo from April to December 2022, an increase of 8% year on year. The rise in cargo volume was driven by a 23% increase […]
DP World nears 80 million TEUs in 2022
DP World handled 79 million TEUs throughout its global portfolio of container terminals in the previous year, with its gross container volumes increasing by 1.4% year-on-year. Additionally, the UAE-based operator reported 19.5 million TEUs in the last quarter of 2022. DP World’s flagship box terminal in Jebel Ali saw 14 million TEUs in 2022, which […]
Maersk achieves record annual earnings and revenues
In a year that we saw Maersk falling from the top of the rankings of the world’s largest container shipping companies, the Danish container carrier achieved strong results with increases in earnings and revenues. In particular, Maersk totalled over US$81.5 billion in total revenues in 2022, in comparison to US$48.2 billion in 2021. The Copenhagen-based firm […]
US government announces over US$660 million available for port development
The United States Department of Transportation’s Maritime Administration (MARAD) has announced a Notice of Funding Opportunity (NOFO) making available more than US$662 million in Federal Fiscal Year (FY) 2023 funding for MARAD’s Port Infrastructure Development Program (PIDP). The purpose of the PIDP investment is to modernise the country’s ports and help strengthen the supply chain […]
DP World becomes official partner of McLaren Formula 1
McLaren Racing announced a partnership with DP World, a provider of supply chain logistics, as an οfficial partner of the McLaren Formula 1 Team from 2023. DP World will also become the lead partner of McLaren APEX, McLaren’s off-track business-to-business event programme, promoting influential collaborations across McLaren’s expansive partner network and beyond. From the 2023 […]
India gears up to build US$5 billion container transshipment project off Bay of Bengal Island
India is stepping up efforts to counter other established South Asian hub ports, such as Sri Lanka’s Colombo, Singapore and Malaysia’s Port Klang, which dominate the subcontinent transshipment activity. In a strategic move, New Delhi has cleared a long-contemplated plan to build a dedicated container transshipment terminal at a more strategic port location — Galathea […]
Maersk sues Evergreen and Shoei Kisen over Suez Canal blockage
A.P. Moller-Maersk confirmed that it has filed a lawsuit against Japan’s Shoei Kisen, the owner of Ever Given, and Evergreen, the operator of the container vessel, which caused serious global supply chain difficulties, blocking the Suez Canal for around a week in 2021. ”We can confirm that Maersk has filed a claim against Evergreen, the […]