NAT CEO: Low Oil Prices Benefit the Tanker Market
Nordic American Tankers Limited Chairman & CEO Herbjørn Hansson addressed the impacts of low oil prices on the tanker business in a letter to shareholders, citing the decrease in oil price as an overall positive for the world tanker market and possible trigger for the recent rate upswing for Suexmax tankers. “The upswing in Suezmax tanker rates in the recent past may have to some extent to do with the decrease in the oil price,” Hansson said.
Ice to Close Upper Mississippi from Nov. 20
The shipping season on the upper Mississippi River will end on Thursday as ice surrounding locks and dams near Minnesota's Twin Cities forced the earliest winter…
Aussie Tug Engineers take Deal, Cancel Strike
Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports…
Mombasa's 2014 Port Cargo to Soar 14 pct
East Africa's biggest port, Mombasa, expects to handle at least 14 percent more cargo this year, helped by its expanded capacity and a marketing drive, its management said on Thursday.
MoA for APM Terminals in Ghana Port Deal
Port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk , said on Thursday it had signed a memorandum of understanding with the government…
CEO Lone: China, India to Dominate Oil Trade
China and India will account for about 35% of global oil trade in the next 10 to 15 years, according to predictions by Harald Lone, Chairman and CEO of Newport Shipping Group. Many traditional global shipbuilding patterns are in flux with the proliferation of oil and gas coming from the U.S. shale, and oil supplies traditionally bound for the U.S. will have to find new markets. Lone contends that China and India will become “very important” to the crude oil markets.
Mexican Regulators Clear Hapag-Lloyd, CSAV Deal
Hapag-Lloyd announced the unconditional clearance under Mexican merger regulations for the planned integration of the container shipping activities of Compañía Sud…
Governor: Russia Will Have No Competitors in the Arctic
The Governor of Yamalo-Nenets Autonomous Region, Dmitry Kobylkin, presented the annual report on the situation in the autonomous region. "We have been confronted with new challenges.
Ulstein Verft Ready for Big Scale Construction
Ulstein Verft’s largest vessel so far is under full production these days. Sections for hull 302, an offshore construction vessel for Island Offshore/Edison Chouest Offshore…
TransAtlantic Scrubber for SECA 2015
TransAtlantic and Stora Enso have signed and started the installation of the first order of a new innovative scrubber that washes out sulphur oxides from ship exhaust gases in a totally closed loop.
BEST Readies for Mega Ships
Hutchison Port Holdings Limited (HPH) subsidiary Barcelona Europe South Terminal (BEST), located at the Port of Barcelona, today held a ceremony for the arrival of three new Quay Cranes (QCs)…
OAO Sovcomflot’s 9M/Q3 2014 Results
OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014. n.a. Commenting on the results, Sergey Frank…
COSL Takes Delivery of New Semisub
China Oilfield Services Limited saw successful delivery of the deepwater semi-submersible drilling rig COSLProspector it invested in and commissioned to build in Yantai, Shandong today.
Danish Crew Receives Bravery Award
This year’s “Award for Exceptional Bravery at Sea” is given to the crew from the DFDS ship BRITANNIA SEAWAYS. The award is presented by United Nations’ International…
- 1
- 2
