Global schedule reliability of container lines deteriorated by 8.4 percentage points to 74.5% in 2017, down from 82.9% in 2016, according to SeaIntel Maritime Analysis.

Norway-based Aker Solutions won a contract to provide maintenance and modifications services for three platforms at Petrobras-operated oil and gas fields offshore Brazil, expanding its business in a key international market, the company announced Thursday.

Handling equipment supplier MacGregor is acquiring the major marine and offshore businesses of TTS group for EUR87m.

Ezion Holdings seems to be finally seeing the light at the end of the tunnel after securing a $1.5bn refinancing package from six secured lenders as well as additional revolving credit facilities of $118m as its ceo and his family pledged additional support with 100m of their personal shares in the company.

Another solid block has fallen into place in the provision of LNG as a shipping fuel with the signing of a long-term charter contract between Total Marine Fuels Global Solutions (TMFGS) and Mitsui OSK Lines (MOL) for a large LNG bunker vessel of 18,600cbm, to be delivered in 2020.

The head of Cosco in Pakistan has been shot dead in what police said appeared to be a targeted attack.

DP World’s worldwide container volumes grew 10.1% to 70.1m teu in 2017 outstripping forecast market growth as a whole.

IMO secretary-general Ki-Tack Lim underscored the organisation’s commitment to enforcing the 0.5% sulphur cap on marine fuel from 2020, and in a warning for those hoping for a reprieve said “There is no turning back!”

German shipowning and management group Zeaborn is continuing its aggressive expansion acquiring Erck Rickmers ship management company ER Schiffahrt.

The shipping business model must change if it is to survive. Noting that it was a difficult thing to do as this was the only one that many in the industry knew, Clarkson Research president Martin Stopford reiterated that this was not the model for the future

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