Maersk CEO Offers Advice for Market Growth
AP Moller-Maersk CEO, Nils Andersen, delivered the keynote at today’s Danish Maritime Days forum in Copenhagen where he offered several keys to enhancing the maritime sector on a worldwide scale. Andersen called the ship purchasing market attractive for investors, but said the industry is relatively unattractive when comparing its returns to those of other global markets. Though Maersk expects container volume growth near 4.5% per year…
Ebola Fears Hit the Maritime Market
Brazil, Argentina and the United States have tightened port entry procedures for ships that have sailed from West Africa in a bid to control the potential spread of the deadly Ebola virus. Ebola has killed more than 3,400 people in Guinea, Sierra Leone and Liberia, and its spread has become a global concern -- with worries for trade, which could affect the airline and tourism industries together with seaborne activity.
Schlumberger Mulls Sale of Oilfield Tools Rental Unit
Schlumberger Ltd, the world's largest oilfield services company, is exploring the sale of its oilfield tools rental unit Thomas Tools, which could be valued at more than $600 million…
Fallen Brazilian Tycoon Batista Faces the Law
A year after the epic collapse of his industrial empire, Brazilian tycoon Eike Batista's financial and legal troubles appear far from over. Once worth more than…
ZF Promotes Meissner
The Industrial Technology division of the ZF Group said that Martin Meissner has assumed the position of Marketing and Communications Manager for North America. Meissner, currently the Marketing and Communications Manager for ZF’s Marine business in North America, will now be responsible for all facets of marketing related activities in North America for the Industrial Technology division. The…
Transas ECDIS Chosen by Maersk Tankers Again
The IMO requirement has phased installation of ECDIS on board all ships, beginning July 2012. Maersk Tankers, one of the world’s largest product tanker companies, has selected Transas to address this by implementing ECDIS compliance program across the Maersk Tankers’ fleet. The agreement includes ECDIS installations for both retrofit and for newbuilt vessels for Maersk Tankers. According to the agreement signed between Group Procurement in Maersk and Transas Marine…
Cheniere's LNG Export Project Clears Enviro Hurdle
Cheniere's Corpus Christi, Texas liquefied natural gas export project will not significantly affect the environment, the U.S. Federal Energy Regulatory Commission said in a report on Wednesday.
SENER Opens UK Office
SENER opened an Engineering and Construction division in Manchester to reinforce its presence in the United Kingdom. The group already has work sites set up in the UK and it maintains a close 25-year relationship with Rolls Royce through ITP, a leader in the global market for industrial and aeronautical engines in which SENER (53.125%) and Rolls Royce (46.875%) are the two shareholders. The new office…
Rolls-Royce Secures Island Offshore Contract
Rolls-Royce has won a $11.3 million order to provide design, integrated power and propulsion systems and equipment for an offshore service vessel for Norwegian ship owner Island Offshore. The offshore service vessel will be built at VARD shipyard in Brevik, Norway and is due for delivery in January 2016. In March this year Island Offshore placed an order for two Rolls-Royce designed vessels, due for delivery in 2015 from the same shipyard.
$310 Billion 'Energy Efficiency' Market Grows Rapidly
IEA report sees energy efficiency finance becoming established market segment in its own right ... The global energy efficiency market is worth at least $310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”. The report also finds that energy efficiency finance is becoming an established market segment…
Cost Blowouts on Norway's New Oil Developments
Several key oil and gas developments in Norway will cost much more than earlier expected and fields with approved development plans are now seen 10 percent more expensive than originally planned, the oil and energy ministry said on Wednesday. Costs in Norway's offshore oil sector, already one of the most expensive in the world, have soared in recent years, weighing on the budget which provides generous tax breaks during the development phase.
Drifting Fishermen Rescued by MOL LNG Carrier
Three Castaways Rescued Safely off Indonesia. Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) has announced that on October 6, 2014, the MOL-operated/managed LNG carrier Senshu Maru founded drifting castaways in the Celebes Sea off Indonesia, and was able to safely rescue three Indonesian fishermen. At 14:15 (all times were in Japan time) on October 6, 2014, the Senshu Maru, sailing from the port of Bontang…
Global Growth Disappoints, Shipping Remains Challenged
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. Shipping being a derived demand of global economic growth, will see lower demand in coming years, all other things being equal, than what was previously expected. This goes for all the major shipping segments, dry bulk, tankers and containerships. The Update…
USCG Rescues 4 Near Whittier, Alaska
The Coast Guard rescued four hunters stranded in Blackstone Bay near Whittier Monday. A 45-foot response boat-medium crew from Station Valdez safely transported…
ISS Launches Online Relocations Service
Inchcape Shipping Services has launched a free online relocations quotations service. Accessible through www.iss-worldwidemovers.com and via a new mobile application…
Wärtsilä to Set-up Indonesia's first bio-LNG plant
Wärtsilä and two Indonesian partners have today signed a joint development agreement with the intention of creating the first ever bio-LNG plant in Indonesia. The…
SHI Wins Order for Arctic Shuttle Tankers
Samsung Heavy Industries won an order amounting to USD 440 Million for Three Arctic Shuttle Tankers from a European shipper. According to sources the order is from…
BV to Operate Single Window in Congo
The Democratic Republic of the Congo has awarded the consortium Bureau Veritas BIVAC B.V. / Soget, the concession to set up and operate the Single Window for facilitating trade.
Keppel Bags Repeat Orders
Keppel Offshore & Marine Ltd wholly owned subsidiaries Keppel Shipyard Ltd (Keppel Shipyard) and Keppel Nantong Shipyard Co. Ltd have secured contracts from repeat…
Knightsbridge and Golden Ocean to Merge
Knightsbridge Shipping Limited and Golden Ocean Group Limited have today entered into an agreement and plan of merger pursuant to which the two companies have agreed to merge…
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