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Cosco Shipping to close shipyards in China – SECTEU COSCO Shipping Heavy Industry (CSHI) plans to close three of its five offshore shipyards due to overcapacity, and order cancellations and delivery delays from owners, according to the Group’s general manger, Liang Yanfeng.

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THE Alliance Chooses DP World’s UK Ports – SECTEU Global container shipping consortium THE Alliance has announced that all of its mainline UK calls will be handled by DP World, the Dubai-based global ports and logistics services company.

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Guangzhou Port looks to share offer – SECTEU One of the largest hub ports in South China is planning a share offer in the first half of 2017, seeking financing to expand business, according to a senior company executive.

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Navistar, Volkswagen Seal $256 Million Alliance Deal – SECTEU NASHVILLE, Tenn. — Navistar International Corp. and Volkswagen’s Truck & Bus division completed their alliance announced in September, with the German automotive company acquiring 16.2 million common shares, or 16.6% of equity, and the Lisle, Illinois, truck maker getting $256 million. The deal was…

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Alliances Clash With Terminal Interest – SECTEU The Ports and Terminals Insight report published by global shipping consultancy Drewry has revealed that the choice of port calls by the 2M and upcoming Ocean and THE liner alliances is often “not in line” with carrier terminal ownership interests.

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Wilbur Ross Confirmed as US Commerce Secretary – SECTEU The United States Senate confirmed the billionaire investor Wilbur Ross as Secretary of Commerce last night. He is to be sworn in today.