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Trump’s mega infrastructure plans slow, but ports gaining small victories

The bold/audacious/humongous or simply bodacious Trump “infrastructure” plan, estimated to be anywhere from $1.5trn to $2trn, seems not to be happening, but small victories are being seen in the ports sector. Read More

Vale strengthens cooperation with Ningbo Zhoushan Port Group

Brazil’s Vale and China’s Ningbo Zhoushan Port Group have signed a memorandum of understanding (MOU) to further deepen their cooperation. Read More

Samsung Heavy Industries lands order for 10 LNG-fuelled tankers worth $601m

Samsung Heavy Industries (SHI) announced Monday that it has won orders for 10 LNG-fuelled aframax tankers valued at KRW751.3bn ($601m) from an Oceania-based shipowner. Read More

Pirates abduct 17 seafarers from two vessels off Cameron

Pirates have kidnapped 17 crew members from two ships - one German and one Greek owned - at Douala anchorage off Cameron. Read More

Canada’s Montreal port to develop new container terminal

Canada’s Montreal Port Authority (MPA) has signed a memorandum of understanding with the Canada Infrastructure Bank (CIB) to advance the project development of a new container terminal in Contrecoeur. Read More

Seadrill, Gulf Drilling form joint venture to operate jackups in Qatar

Seadrill Limited and Gulf Drilling International (GDI) have entered into a joint venture to form GulfDrill that will initially manage and operate five jackups for Qatar Petroleum in Qatar. Read More

Dry bulk FFA market: Freight market rebounds after long holidays

The freight market rebounded on higher iron ore prices and recovered from the long holidays in Singapore and devastating typhoon off China’s coast. Read More

Sinanju seals charter deal with ExxonMobil for Singapore’s first LNG bunker tanker

Singapore-based Sinanju Tankers Holdings, via its logistics services arm, has sealed a two-year time charter agreement with ExxonMobil Asia Pacific for a newbuild dual-fuel bunker tanker, five months ahead of commencing operations. Read More

Maersk says trade war could remove 0.5% container demand in 2019 and 2020

AP Moller-Maersk has warned that the ongoing US-China trade war is impacting growth, and it could “in isolation remove up to 0.5% of global container demand” in 2019 and 2020. Read More

Yun Lee Marine invests in New Legend for fleet expansion

Hong Kong-based Yun Lee Marine Group has entered into a subscription agreement with New Legend to subscribe 51% equity interest at a price of HKD34.5m ($4.4m) in New Legend for expanding fleet capacity and exploring new business opportunities. Read More

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