Maritime Labor Convention to Commence on August 20
The International Labor Organization (ILO) will mark the coming into force of its historic Maritime Labor Convention, 2006, on August 20, 2013. The ILO Convention…
Two New Ferries Named in Liverpool
Liverpool, U.K. city region based shipyard and engineering firm Cammell Laird has hosted a formal naming ceremony for the first complete ships constructed by the company in 20 years for Scottish ferry operator Western Ferries. The ceremony marked the completion of a multi-million pound contract which has seen Birkenhead based Cammell Laird build two new car ferries for Western Ferries MV Sound of Seil (Cammell Laird keel number 1387) and MV Sound of Soay (keel number 1388).
Herculean Ships Gather in Port of Rotterdam
The largest vessels in the world will be moored in the port of Rotterdam in the next 7 days, thanks to the port's deep-draft facilities. On Friday 16 August, all…
Maersk Line Bucks Trend: Profitable Q2 2013
Maersk Line made a profit of USD 439m (USD 227m) and a ROIC of 8.5% (4.6%) as reported in the company's second quarter 2013 interim report. The significant improvement in the financial performance was achieved through lower costs. Volumes increased 2.1%, average freight rate decreased 13.1% and total cost per FFE decreased by 12.7%.The cost decrease was mainly driven by vessel network efficien- cies and lower bunker price. Maersk Line’s total fleet capacity decreased by 0.9%.
Free Research Reports on Selected Companies by Analysts' Corner
Analysts' Corner release new research reports highlighting Trinity Industries, Inc., Nordic American Tankers Limited ), J.B. Hunt Transport Services, Inc., SEACOR Holdings, Inc.), and DryShips Inc.
Coast Guard to Test Arctic Oil Spill Technologies
The U.S. Coast Guard Research and Development Center (RDC) plans to test and evaluate oil spill detection and recovery technologies in the Arctic Ocean as part of Operation Arctic Shield 2013. A multi-agency team of engineers and scientists led by RDC researchers will conduct a series of demonstrations in September 2013 aboard Coast Guard Cutter Healy to test and evaluate capabilities of various unmanned aerial systems (UAS)…
GasLog Order More LNG Carriers & Fix Charters
GasLog has ordered two new 174,000 cbm Tri-Fuel Diesel Electric LNG carriers from Samsung Heavy Industries Co., Ltd. in South Korea. The vessels are expected to be delivered in Q3 and Q4 2016, respectively, and upon delivery will commence firm seven-year charters with a subsidiary of BG Group plc. The company explains that due to the benefits accrued from building a series of ships, these vessels will have a lower delivered cost than the 2 vessels ordered in February…
Seadrill Look to the North With NADL
Seadrill and North Atlantic Drilling announce strategic partnership to develop their business for drilling in harsh environments. The basis for the establishment of NADL in 2011 was to carve out a premium specialist operator with a superior safety standard in harsh environment areas and to use this as a platform to grow the business substantially. NADL builds on a 40-year history of drilling operations and a best-in-class track record in challenging areas.
UK North Sea Gas Discovery 'Significant' Say E&P
E.ON Exploration & Production's (E&P) Tolmount gas discovery in the UK North Sea could contain significantly higher volumes than originally estimated, making it…
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