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- New tug joint venture announced
- Teekay Shipping Australia and KOTUG International have announced a new joint venture company, called KT Maritime Services Australia.
- Judge dismisses application to release supply ships
- A Federal Court judge has dismissed an application to have four supply ships released from arrest.
- Maersk Line back in the black as freight rates hold
- Maersk Line is on course to make a small profit this year after losing more than $600m in 2011, following a rapid recovery in trade conditions during the second quarter.
- Hapag-Lloyd celebrates ‘successful turnaround’
- Hapag-Lloyd managed a “successful turnaround” in the second quarter of this year and achieved an operating profit between April and June that it attributes to higher freight rates.
- Laing O’Rourke wins $150m Hutchison Botany contract
- Laing O’Rourke has won a $150m contract to build civil and rail infrastructure for the planned third terminal at Port Botany.
- Panamax owners face worst summer in 10 years for spot rates
- The panamax bulk carrier spot market is on track for the worst third quarter in at least a decade as newbuildings continue to flood the market.
