Last Steel Installed at Irving’s Navy Build Yard
The Government of Canada and Irving Shipbuilding today marked the installation of the final piece of steel frame for the Assembly and Ultra Hall Production facility that will produce the Navy’s newest combat fleet starting in September 2015. The Honorable Diane Finley, Minister of Public Works and Government Services Canada and the Honorable Peter MacKay, Attorney General and Minister of Justice of…
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
MAN to Display New Offerings at SMM
Inspired by the motto "The Power of Shipping", MAN Diesel & Turbo will showcase its products and services at the SMM international maritime trade fair in Hamburg next week.
OW Bunker Delivers Significant Time Savings
Time of bunkering process significantly reduced providing savings of thousands of dollars per day. OW Bunker has announced significant efficiency benefits following the commencement of distributing fuel oil with an MPA-approved (Maritime and Port Authority of Singapore) Coriolis Flow Meter on-board its latest barge in Singapore, Marine Noel. The time to supply bunkers, which normally takes between seven and eight hours has been reduced by 50% by using the Coriolis Flow Meter…
US Mulls Stronger Sanctions Against Russian Energy
The United States is considering limiting hi-tech exports to Russia's Arctic oil and gas industry as part of plans to strengthen sanctions against Moscow over the crisis in Ukraine, a U.S.
StealthGas Announces Newbuilds, New Vessel Contracts
StealthGas Inc., a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today as part…
Moore Stephens Welcomes UK Tonnage Tax Training Initiative
International accountant and shipping adviser Moore Stephens has welcomed an initiative by the UK Department for Transport (DfT) which it says will encourage the training of ratings. The DfT is to pilot a change to the tonnage tax training commitment which will allow three ratings to be trained in place of one officer-cadet. It will gather evidence regarding this proposed change with a view to making it permanent.
Ship Repair Specialist Goris to Join ASRY
New Operations General Manager, Jos Goris, to bring 20 years of experience with top firms including Damen, Maersk and Shell. ASRY, a ship and rig repair yard in the Arabian Gulf, has appointed Jos Goris as the new General Manager of the Operations division, effective October 1. Goris brings more than 20 years worth of shipping experience with global leaders such as Damen, Maersk and Shell, with more than 12 years of that being in ship repair yards across Asia and the Americas.
Harsema-Mensonides Joins Braemar Engineering
Braemar Engineering announced the appointment of Alex Harsema-Mensonides as Director of Marine Business Development, effective from September 1, 2014. Harsema-Mensonides joins Braemar Engineering with a wealth of experience. He has held key roles across Europe, including technical and commercial positions in the marine industry across the Netherlands, Sweden and Germany, and also founded his own consultancy operating at the vanguard of the LNG sector around the world…
Trading Houses Limit Gasoline Trades as Profits Slump
Traders Mercuria, Trafigura and SOCAR cut gasoline desks; new refining capacity slashes traditional profitability. U.S. refining boom weighs on global light products.
Buckeye Buys Trafigura's Texas Assets
Oil logistics specialist Buckeye Partners LP will pay $860 million for control of Trafigura's prized oil facilities in the Texas shale hub amid expectations Washington…
Statoil Shuts Huldra Platform Permanently
Statoil will shut gas production at its Huldra platform in the North Sea permanently, the Norwegian energy firm said on Wednesday. Statoil put the platform for sale…
Suez August Revenue Tops Record
Revenues from Egypt's Suez Canal reached $508 million in August, the highest monthly level in history, Suez Canal Authority Chairman Mohab Mamish said on Wednesday.
Pirates Attack Product Tanker off Ivory Coast
Armed pirates robbed a petroleum products tanker near Ivory Coast's port of Abidjan, a maritime agency and a private security advisor said on Wednesday, in an indication…
Ukraine Buying 1 mln Tonnes South African Coal
Ukraine will buy one million tonnes of coal from South Africa because the military conflict in its Donbass region has disrupted domestic coal production, Prime Minister…
China Plans to Modernise Shipping Industry: Shares Jump
China published a set of guidelines to support and develop its shipping industry on Wednesday, sending shares in shipping firms such as China COSCO and China Shipping higher.
Fleet Pro to Manage Haimark Cruise Ship
FleetPro says it will manage the technical and hotel operational services of Haimark Line's newly acquired MS Saint Laurent” from May 3rd, 2015. Haimark Line, with offices in Denver…
Power of Siberia construction launched
Yakutsk hosted today celebrations dedicated to welding the first joint of the Power of Siberia gas transmission system (GTS) meant to be a crucial element of the…
Suez Canal 5-Year Investment Promises 12%
Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available…
Scottish Independence Vote Worries Shipping Industry
If the Scots vote for independence in September's referendum, it could hit the country's shipping and offshore maritime sector, according to a survey by leading…
