A bitter dispute between the Panama Canal and a Spanish-led consortium of construction companies over the spiraling cost of expanding one of the world's busiest waterways was years in the making.

The Stifel Logistics Confidence Index entered 2014 on a positive note. Despite a month-to-month 0.9 point decline in the overall Index reading to 56.6, the Logistics Confidence Index has remained above the 50-level for 12 months, meaning the market continues to exhibit a healthy confidence in air and sea freight forwarding. To get a better view of global air and ocean trade, Stifel has partnered with Transport Intelligence to create the Stifel Logistics Confidence Index (LCI), a monthly survey of international shippers and forwarders that measures freight activity across several European-based trade lanes.

Canadian police have arrested a Toronto man suspected of seeking to give China classified information about Canadian shipbuilding procurement policies, security officials said on Sunday.

Tomini Shipping has revealed plans for further expansion following an order for nine new bulkers. Chairman Imtiaz Shaikh has said that the Dubai-based company has set itself a target of at least 20 new vessels over the next few years.

After four years in the doldrums, the specialized chemical tankers that ply the seas between the United States and Asia are set to generate bumper profits for the handful of companies that own and operate them.