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Pratt May Have Found Temporary Fix for Airbus A320 Engine Issue

Posted By Tony Sanchez / Aircraft Manufacture / 0 Comments

February 21, 2018 Pratt & Whitney has proposed dropping an engine modification that grounded almost a dozen Airbus SE A320neo jets as it works to fix the latest glitch plaguing the program, according to people familiar with the plan. The move involves replacing a new engine seal with an older one that had durability issues, […]

Moore Stephens: Key Drivers That Push Ship Management’s Split

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 21, 2018 The ship management sector is broadly split in two, between independent ship managers and in-house managers, international account and shipping consultant Moore Stephens said. Around 10% of the world merchant fleet greater than 5,000 gross register tonnage and built after 1991 is independently managed by the top 20 independent ship management companies. Favourable […]

Navios Holdings Cuts Loss, Expands Fleet in 2017

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 21, 2018 Greek shipping firm Navios Maritime Holdings managed to decrease its net loss in 2017 to USD 165.9 million, against the net loss of USD 303.8 million seen in 2016. Revenue from dry bulk vessel operations for the year ended December 31, 2017 was USD 250.4 million as compared to USD 199.5 million […]

BIMCO: 2018 Is the Year of Opportunity for Dry Bulk Shipping

Posted By Tony Sanchez / Cargo News / 0 Comments

February 21, 2018 The dry bulk shipping industry, which should be facing another year of improvement to the fundamental balance, is currently in its year of opportunity, according to BIMCO. The improvement is expected amid the slowest pace in fleet growth since 1999, as well as solid growth in demand. January saw plenty of ship […]

Panama Canal Working with Cheniere to Host More LNG Transits

Posted By Tony Sanchez / Cargo News / 0 Comments

February 21, 2018 The Panama Canal Authority is working towards increasing the number of LNG vessels that can transit the Neopanamax locks in a day. The canal is bolstering its capacity amid the anticipated growth of natural gas exports from the United States, which is likely to increase LNG transits by 50 percent by September, […]

Matson Delivers Higher Income in a ‘Solid Year’

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 21, 2018 US container carrier Matson saw its net income in the fourth quarter of 2017 surge to USD 166.9 million from USD 20 million reported in the same period a year earlier. For the full year ended December 31, 2017, the company said that its net income increased to USD 232 million, compared to USD […]

OOCL Extends Charter with GSL at Lower Rate

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 21, 2018 Containership charter owner Global Ship Lease (GSL) has reached an agreement to extend the charter for the OOCL Qingdao with Hong Kong-based Orient Overseas Container Line (OOCL). Under the deal, the 2004-built containership will continue working for OOCL at a significantly lower rate of USD 14,000 per day, compared to its earlier daily charter rate […]

Airline Boom Times Stoke Push by Pilots for Lost Retirement Pay

Posted By Tony Sanchez / Airlines / 0 Comments

February 20, 2018 Airline pilots, still resentful over pensions yanked away in a wave of industry bankruptcies, see growing company profits as a chance to reclaim some of those lost benefits. Unions at American Airlines Group Inc. and Delta Air Lines Inc. are studying ways to reconstitute or replace retirement plans that were scrapped or […]

MPC Container Ships Agrees to Buy 14 More Vessels

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 20, 2018 Norwegian containership owner MPC Container Ships has reached an agreement to acquired a fleet of 14 feeder container vessels. The company said that it is paying a total of USD 139.5 million for the batch, which includes vessels ranging from 1,300 TEU to 2,800 TEU. Following the expected takeover of the vessels in […]

Korea Line Pens USD 608 Mn Deal with Vale

Posted By Tony Sanchez / Cargo Sea Line / 0 Comments

February 20, 2018 Korea Line Corporation, part of Samra Midas Group, has signed a long-term contract of affreightment with Brazilian miner Vale, the company revealed. The 25-year-long deal will see two bulk carriers transport iron ore from Brazil to China. The deal is worth USD 608 million, according to Korea Line. The two 325,000 dwt bulkers were ordered in October 2017 […]