Container surplus to continue into 2023: report
THE INDUSTRY is witnessing a major slump in the order-to-inventory ratio with high inventories but slower demands, according to the November edition of the Container xChange...
Maritime unions announce more industrial action at Svitzer
MARITIME unions have announced yet more industrial action for Svitzer Australia tug masters, engineers and deckhands. In a notice, the towage operator said it is “experiencing a...
ICTSI reports revenue, throughput and profit increases
INTERNATIONAL Container Terminal Services reported big increases in revenue and profits over the first nine months of 2022. The Victoria International Container Terminal parent...
Zim opens agency in New Zealand
NEW York Stock Exchange-listed container line Zim has opened a fully-owned agency in New Zealand. The new agency replaces its third-party agent in the country, effective 1...
Australia joins Green Shipping Challenge at COP27
AUSTRALIA signed up to the Green Shipping Challenge at the COP27 conference. US President Joe Biden invited Australia to join the challenge at the Major Economies Forum in June....
A container terminal at Newcastle takes a step closer to reality
THE LOWER house of the New South Wales Parliament on Tuesday passed the Port of Newcastle (Extinguishment of Liability) Bill 2022, meaning a container terminal at Newcastle is a...
Vessel operating costs rising: report
INFLATION of vessel operating cost inflation has accelerated in 2022, according to maritime consultancy Drewry’s Ship Operating Costs Annual Review and Forecast 2022/23 report....
Australian H2 tech developer appoints strategic advisor
AUSTRALIAN hydrogen company Provaris has appointed a strategic advisor to support the company’s team in Norway. The company’s Norway office is working on opportunities for...
Port and local conservation group come to agreement on dredging project
PORTS of Auckland has come to an agreement with conservation group Protect Our Gulf and received consent to dredge the Rangitoto Channel, after a three-year-long court battle. As...
Sydney freight rail projects progress
THE AUSTRALIAN Rail Track Corporation has hit several milestones on its Port Botany Rail Line Duplication and the Cabramatta Loop projects. For the Port Botany project, ARTC...
Maersk working with Spain for large-scale green fuels production
THE SPANISH government and A.P. Moller - Maersk have signed a “general protocol for collaboration” to investigate opportunities for green fuels production at scale in Spain....
Global container numbers to decline for first time in 14 years: Drewry
THE war in Ukraine; sharp rises in global energy and food prices; and increasing rates of inflation continue to have a negative impact on the container shipping industry,...
Big profits for Maersk again, but clouds are on the horizon
MAERSK continues its streak of big profits, with its 16th quarter in a row with year-on-year earnings increases. However, the company has signalled that earnings in its Ocean...
Change in Teekay management
TEEKAY Corporation executive vice-president and chief financial officer Vince Lok is retiring after nearly 30 years with the company; he has been the company’s CFO for the past 16...
Shipping line puts in order for 24,000-TEU methanol-capable ships
ORIENT Overseas Container Line has ordered seven methanol-compatible 24,000-TEU containerships. The Hong Kong-headquartered company expects delivery of these new ships to start...
