TORM Product Tanker Freight Rates Climbs Up
TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard.
Iran Belgium Hold Talks to Build FLNG Unit
Minister of Petroleum, Bijan Zangeneh said that Iran and Belgium are in talks for possible floating production of liquefied natural gas (LNG) FLNG Unit off the Kharg Island in the Persian Gulf. The issue was brought up during Zangeneh’s talks with Belgian Secretary of State for Foreign Trade, Pieter De Crem in Tehran on Monday as the two sides look to new areas of cooperation ahead of the lifting of sanctions on Iran.
NYK and Astomos Conclude Time-charter Contract for 12th VLGC
Nippon Yusen Kaisha (NYK) concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation, the world's pre-eminent liquefied petroleum gas (LPG) company.
Lack of Proper Management Systems Cause Engine Damage
A new report from The Swedish Club shows that incorrect maintenance and repair continues to be the most frequent cause of main engine damage – a trend which has…
Concordia Posts Strong Q3
Good positions in a market that exceeded expectations gave Concordia Maritime part of Sweden’s Stena Group, a very strong quarter for the season. It recorded after…
ICBC Signs Financing Deal with F.Laeisz
The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH. Under the agreement, the ICBC will provide 65 million U.S.
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