We have today announced that we will accelerate cost reduction programmes in our Marine business and reduce the number of employees by a further 600 by the end of this year in response to challenging market conditions. Today’s announcement follows our Interim Management Statement on May 8th in which we confirmed that the year had […]
Company joins Shenzhen Port Green Convention / Use of very low-sulphur fuel while in port / Reduced emissions in the heavily populated metropolitan region Hapag-Lloyd and the Chinese Port of Shenzhen entered into an agreement to cut sulphur oxide emissions. Under the agreement, Hapag-Lloyd has voluntarily undertaken only to use fuel with a sulphur content […]
ARLINGTON, VA – The bipartisan effort to establish a uniform national framework for the regulation of vessel discharges took another step forward as the Senate Committee on Commerce, Science and Transportation approved S. 373, the Vessel Incidental Discharge Act, with strong bipartisan support. A broad-based coalition of nearly 60 organizations joined the American Waterways Operators […]
Under its expedited agreement review procedures, the Federal Maritime Commission has concluded its review of a proposed amendment to the Los Angeles and Long Beach Port Infrastructure and Environmental Programs Cooperative Working Agreement, FMC Agreement No. 201219-001. The Commission’s unanimous decision grants the parties request for expedited review and permits the amendment to become effective […]
CHICAGO – Nearly 80 percent of marine industry participants expect sales to increase between five and ten percent this year, according to survey results released today by GE Capital, Commercial Distribution Finance (CDF). That’s up from 54 percent who expected growth in that range last year, and almost double from the 43 percent two years […]
Neptune Orient Lines Limited (“NOL”) and Kintetsu World Express, Inc. (“KWE”), jointly announced today that they have entered into a sale and purchase agreement for NOL’s logistics business, APL Logistics, for US$1.2 billion. “This is a strategic move that will allow us to focus on improving our liner shipping business, while at the same time […]
MIAMI – GM Marine’s new 4.3L V-6 Small Block engine for sterndrive applications is a lightweight, technologically advanced and efficient performer designed to deliver excellent performance while using less fuel than many V-6 marine engines. It is based on the fifth generation of General Motors’ legendary Small Block architecture, which was introduced 60 years ago […]
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) and Reliance entered into a strategic association for transportation of Liquefied Ethane from United States to India. This will make MOL to be the first shipping company who is dedicated for a continuous Liquefied Ethane transportation by Very Large Ethane Carriers (VLEC). The transportation of Ethane will […]
The path is clear: Hapag-Lloyd and the Chilean Compañía Sud Americana de Vapores (CSAV) are joining forces, by merging CSAV´s container business activities into Hapag-Lloyd, becoming the fourth-largest liner shipping company in the world. The corresponding contracts for the merger of the two companies were signed back in April in Hamburg. With approval from all […]
NEW YORK- L-3 Communications (NYSE:LLL) announced today that it has entered into a definitive agreement with Wärtsilä Corporation to sell its Marine Systems International (L-3 MSI) business. The transaction is anticipated to be completed in the second quarter of 2015, subject to customary closing conditions and regulatory approvals. The transaction, with a base purchase price […]
