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December 21, 2014 10:24 PM ET

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would likely remain above $60 for the rest of the year.   MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.

December 21, 2014 10:21 PM ET

Fighting for Ports Escalates in Libya

Military planes loyal to Libya's recognised government attacked on Sunday an opposing force that is seeking to seize the country's two biggest oil ports, officials said.   The advancing force, which is allied to a rival government based in Tripoli,

December 21, 2014 10:19 PM ET

Security Threat in Yemen Shuts CNOOC's Nexen Facility

CNOOC Ltd's Nexen unit is shutting operations at an oil field and processing facility in Yemen due to a security threat, a Nexen spokeswoman said on Sunday.   The spokeswoman said Nexen determined there is an undue risk for staff working at its Block

December 21, 2014 10:15 PM ET

Suez Canal Revenue Falls

evenues from the Suez Canal fell to $442.8 million in November from $482.3 million in October, Egypt's state information website said on Sunday. The fastest shipping route between Europe and Asia is one of Egypt's main sources of foreign currency. A

December 19, 2014 4:31 PM ET

Maritime Reporter @ 75: The Daily Cartoon

 Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners,

December 19, 2014 4:27 PM ET

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.   The strike briefly halted activity at the ports of Timbues,

December 19, 2014 4:21 PM ET

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman of the executive board of the Research Council of Norway. The executive board is the Research Council’s highest authority,

December 19, 2014 3:49 PM ET

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an LR2 or an MR2? What is the historical rate of return for these tankers? Which tanker class

December 19, 2014 3:33 PM ET

Keeping to the Schedule in the Pacific Northwest

When a tightly scheduled repower for the Kodiak-based trawler Sea Mac in early December took a very bad turn, Mike Fourtner used his 25 years of fishing experience and leadership to pull together a team at Cummins Northwest to solve the problem. For the past year,

December 19, 2014 2:59 PM ET

NZ Report: Human Error to Blame for Rena Grounding

New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s investigation found that the grounding was a result of improper crew practices, and that

December 19, 2014 2:21 PM ET

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director Roger Guenther reported to the port commission of the Port of Houston Authority at its monthly meeting Tuesday.

December 19, 2014 12:53 PM ET

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting. The order features four Stan Patrol 4207 vessels, one RoRo 5612 and a further three Stan Patrol 3007 vessels.

December 19, 2014 12:46 PM ET

MARAD Publishes US ATB, ITB Database

The U.S. Maritime Administration (MARAD) released what it is calling a first-of-its-kind public database that chronicles U.S.-flagged, privately owned domestic articulated tug-barge (ATB) and integrated tug-barge (ITB) vessels.   In the report, MARAD

December 19, 2014 12:34 PM ET

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP). The recommended practice developed by DNV GL provides guidance on the proper design and correct operation,

December 19, 2014 12:28 PM ET

Costa Rica Approves APM Terminals Project

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said on Friday Costa Rica's environment agency had approved the construction of its Moin Container Terminal project.   APM Terminals said in a statement Costa Rica's National Concession

December 19, 2014 12:25 PM ET

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.   American taxpayers by law are due a 12.5 percent royalty

December 19, 2014 12:16 PM ET

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping company Compañía Sud Americana de Vapores (CSAV). As planned, CSAV subscribed to EUR 259 million (approximately $316.

December 19, 2014 12:04 PM ET

Denmark Issues New Pilotage Regulations

In an effort to make the pilotage market more efficient, the Danish Maritime Authority (DMA) issued several new regulations following on amendments to the pilotage act.   A number of DMA measures to launch January 1, 2015 will target simpler regulation of the pilotage area.

December 19, 2014 11:40 AM ET

DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility, has advised Indian shipowners to consider the benefits of fixed premium P&I cover.

December 19, 2014 11:33 AM ET

San Jacinto College Breaks Ground on New Training Center

San Jacinto College has broken ground along the Port of Houston for its new 45,000-square-foot Maritime Training Center.   At the site of 3700 Old Highway 146 in La Porte, stood student Dave Allen, taking in the view of concrete piers that will support San Jacinto College Maritime Training Center,



 
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