Altair's LNG Containment Concept Earns AIP from ABS
Classification society ABS has granted Approval in Principle (AIP) to Troy, Mich., based Altair for the Cubic Donut Tank System (CDTS) LNG containment concept. The…
GLS Wins Multi-Vessel USACE Contract
Great Lakes Shipyard has been awarded a contract by the United States Army Corps of Engineers (USACE) Detroit District for the drydocking and repairs of the Floating Plant, based at the Detroit Field Station. The shipyard will perform routine drydocking, maintenance and repairs of the Tug DEMOLEN, Crane Barge VELER, and Deck Scow BC-6576. In addition to drydocking the vessels, work includes underwater hull cleaning and maintenance…
China Warns US on 'Provocative Attacks'
China's naval commander told his U.S. counterpart that a minor incident could spark war in the South China Sea if the United States did not stop its "provocative acts" in the disputed waterway…
Asia-Europe Box Rates Soar 328 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe surged 327.7 percent to $988 per 20-foot container (TEU) in the week ended on Friday…
NOL Records Q3 Loss, Freight Market Remains Weak
Shipping company Neptune Orient Lines Ltd (NOL) said on Friday its third-quarter net loss widened from a year earlier to $96 million, due to weak freight rates.
Alabama Announces $20 Million Transocean Settlement
Governor Robert Bentley on Thursday announced that Alabama has agreed to a settlement with Transocean Offshore Deepwater Drilling, Inc., which owned the Deepwater Horizon.
Despite Agreements, U.S.-China Naval Risks Linger
In 2013, a U.S. guided-missile ship veered sharply to avoid a Chinese navy vessel that tried to block its path in the disputed South China Sea, according to the U.S. account.
APL Antes Up in DoD False Claims Case
APL Ltd. to Pay $9.8 Million to Resolve Alleged False Claims Under the Department of Defense Shipping Contract. APL Limited has agreed to pay the government $9.8…
Books, Greenshoe in Hapag-Lloyd IPO Covered
Investors have confirmed their orders for shares in Hapag-Lloyd's initial public offering, covering the books and the greenshoe option after the German shipper adjusted the price range…
Seafarers Safety Initiative Grand Prize for NYK
NYK has been recognized with the 2015 Seafarers Safety Initiative Grand Prize awarded by Japan’s Ministry of Land, Infrastructure, Transport and Tourism (MLIT) for…
Boskalis JV Wins Galloper Offshore Wind Farm Contract
Royal Boskalis Westminster N.V. announces that VBMS, its strategic cable-laying joint venture with VolkerWessels, has been awarded two contracts by Galloper Wind Farm Ltd.
Dorian LPG Posts 2Q Profit
Dorian LPG Ltd. a leading owner and operator of modern very large gas carriers today reported its financial results for the three months ended September 30, 2015.
Royal IHC Names Dredger Mahury
Shipbuilder Royal IHC has named the Mahury, a 1,840m3 capacity twin-screw trailing suction hopper dredger (TSHD) on October 29, 2015 at its partner MTG Dolphin’s shipyard in Varna, Bulgaria.
New Damen Shoalbuster Named
The naming ceremony for the first of the two Damen Shoalbusters 3009 being built for marine solutions specialist SMIT Amandla Marine at Damen Shipyards Cape Town (DSCT)…
GTT Debuts LNG Advisor
GTT, the world leader in the design of membrane containment systems for the maritime transportation and storage of LNG (Liquefied Natural Gas), announces the launch of a new offer with LNG Advisor.
LNG Shipping Under Pressure from Tumbling European Re-exports
LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet. Shipowners are now pinning hopes on a revival in European demand.
Box Ship Demand Down
While, weak spot prices and higher futures prices created demand for oil tankers has boomed, bulk carriers have been hit by massive overcapacity, as Chinese demand for such commodities has collapsed…
Dry Bulk in Dimlight
Worse is still to come for many bulk carriers, warns a report in the Economist that claims that the dry-bulk cargo shipping has hit the bottom. Between the start…
Creditors to Pump $3.7B into Ailing DSME
Creditors of South Korea's Daewoo Shipbuilding and Marine Engineering Co. will pour 4.2 trillion won about (US$3.68 billion) into the ailing shipyard to help it get back on track…
DNV GL launches new decision support tool for the retrieval of BOPs
Retrieving an unreliable blowout preventer (BOP) is a necessary but expensive operation, costing upwards of one or two million dollars and easily the double in developing ultra-deepwater regions.
