Unique Gun Salvaged from Barents Sea
Divers Northern Fleet raised from the bottom of the Kola Bay, an American anti-aircraft gun, which lay there for 70 years. Earlier it was reported that the specialists…
Kinder Morgan Buys Four Newbuilding Resales
Kinder Morgan, Inc. is expanding its growing fleet of Jones Act product tankers having signed a definitive agreement valued at an all-in price of $568 million with…
Evergreen Orders Ten Boxships
Evergreen Group signed an agreement with CSBC Corporation, Taiwan to build ten 2,800 TEU class B-type vessels. Witnessed by Evergreen Group's Second Vice Group Chairman Bronson Hsieh…
G E Shipping to Sell New Building Dry Bulker
The Great Eastern Shipping Company Ltd. (G E Shipping) signed a contract to sell, a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel…
Dahanu Port to Compete Mundra: Devendra Fadnavis
Maharashtra Chief Minister Devendra Fdnvis has said that the state's proposed port in terms of traffic in Palghar Dahanu district will compete with the port in Gujarat Mundda, reports PTI.
Oil Tanker Seized by Indonesian Authorities
Indonesian authorities have seized the tanker, MT Joaquim, believed to have been used by pirates to siphon 3,500 tonnes of crude oil on Saturday, according to a report in Bernama.
China Strikes Back at U.S. Criticism over South China Sea
China Government has struck back at the United States criticism that it restricts navigation and overflights in the South China Sea amid a festering marine territorial…
IOC LNG Terminal to be Ready by 2018
Indian Oil Corporation (IOC) has begun initial works for setting up the Rs 5,150-crore ($830 million) liquefied natural gas (LNG)terminal at Ennore, Chennai. LNG terminal would be ready by 2018…
$500 mln LNG Terminal in Myanmar's Dawei
Thailand-based construction firm Italian-Thai Development is planning to construct a liquefied natural gas (LNG) import terminal at Dawei industrial zone Myanmar…
Tide Turns in Favor of Greece’s Shipping Industry
An article in WSJ highlighted the Greek shipping industry, which it says has "emerged largely unscathed" from the nation's recent financial troubles. The reports…
OOIL's Profit Up
Orient Overseas (International) (OOIL), the parent company of Orient Overseas Container Line (OOCL), said its profit had risen 32 percent year on year (y/y) to $238.6…
Hanjin Shipping Returns to Black
South Korea's leading shipping line Hanjin Shipping has returned to the black in the first half with a profit of KRW127.2bn ($109.87m), erasing the loss of KRW424.2bn in the year-ago period.
Brazil Offshore Subsalt Holds 176 bln bbls of Oil, Gas -study
Brazil's Subsalt Polygon, an offshore area that has already yielded some of the world's largest recent oil finds, may hold enough undiscovered petroleum and gas…
Deadline Extended for SHIPPINGInsight Award
The judges have extending the deadline to submit entries for the 2015 SHIPPINGInsight Award from Aug. 15 to Sept. 15 to give more time for companies to participate.
‘Smart Containers’ Roll Out for Silk Road
CIMC Internet of Mobile Things International Operation and Service Co., Ltd. (CIMC IOMT) and Globe Tracker International, ApS announce commercial roll out of Smart Containers…
Great Lakes Shippers Want 'Float Down' to End
U.S. and Canadian vessel operators on the Great Lakes are urging the public to not participate in the Port Huron Float Down scheduled for August 16, the Lake Carriers’ Association (LCA) and Canadian Shipowners Association (CSA) said in a joint press release. The annual event, which fills the seven-mile stretch of the St. Clair River from Port Huron to Marysville with thousands of people in all manner of craft…
Norden Shuffles Executive Management Team
Danish dry cargo and tanker shipping company Dampskibsselskabet Norden A/S informs it has combined a number of management functions in order to reduce its executive management team from five to three members. “With the changes we are consolidating a number of functions creating a more streamlined organization,” Norden CEO Jan Rindbo stated in a press release. Effective immediately, Norden’s new plan sees the executive management team trimmed down to CEO Jan Rindbo…
Silt Deposits Reduce Mississippi River Draft
Heavy silt deposits in the Mississippi River Delta caused by recent high upstream river levels have led to a reduction from 47 to 45 feet for the maximum recommended draft for vessels using the Southwest Pass, Inchcape Shipping Services (ISS) advised. The Southwest Pass is the primary shipping channel on the Mississippi River, with a variety of cargos entering and leaving the river. It is the only channel that can be used by deep draft vessels.
Simulating Marine Collisions for a Safer Future
Collisions at sea have always been a major risk for seafarers and while the exact numbers of incidents that take place across the globe each year are hard to quantify, the number is significant. The Marine Accident Investigation Branch (MAIB) reports on average six collisions between merchant vessels in British waters every year and for every collision reported to the appropriate authorities there will be many more near-misses that go unreported.
Vessel Size, Alliances Up Pressure On US Ports -Fitch
The rise of alliances among shipping carriers and industry moves toward post-Panamax and ultra large cargo ships are pressuring many U.S. ports to address access restrictions. The widening of the Panama Canal, slated to open in 2016, will further intensify the need to accommodate larger ships. Some regional ports that serve secondary markets and are unable to process larger vessels risk losing some services or being skipped completely, Fitch Ratings says.
