AEGIR Participates in Stern Tube Seal Research
AEGIR-Marine, working together with two Dutch technical universities, has launched two substantial research programs in the field of stern tube seals. “Market and…
Alphatron Offers Discount to Green Award Ships
Following a cooperation sealed between Alphatron Marine and Green Award Foundation at Posidonia in Athens, Greece, Alphatron Marine will reward Green Award certified ships with a discount of 10 percent that applies to a range of products and services for both seagoing and inland navigation ships. Green Award certificate implies that a ship’s performance is of such high standards of safety and quality that the ship qualifies for the Green Award requirements.
S.Korea Creates $9.5 Bln Fund for Banks Exposed to Shipyard Troubles
South Korea's government and central bank will create an 11 trillion won ($9.50 billion) fund to support two state-run banks most exposed to the country's struggling shipping and shipbuilding firms. "Our key industries like shipping and shipbuilding are being aggressively caught up by countries like China and management conditions have worsened due to weak global trade," Finance Minister Yoo Il-ho said in a speech announcing the corporate restructuring plans on Wednesday.
DONG Energy Narrows IPO Pricing Range
Danish utility and offshore wind farm developer DONG Energy has narrowed the price target for the company's share sale in Copenhagen, cutting off the top end of range, one source with direct knowledge to the matter said. The price range has been narrowed to 225 Danish crowns and 235 crowns ($34.39-$35.92) from an earlier target of 220-255 crowns. "A message was sent to investors on Tuesday night that…
IEA Sees Slower Global Gas Demand Growth to 2021
Growth in natural gas demand will slow to an average 1.5 percent a year globally through 2021, as stagnation in Europe and uncertainty about Chinese consumption offsets robust growth in India…
Baltic Index Rises on Stronger Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand for capesize vessels.
Havila Shipping CEO: Firms Must Fix Own Issues before Discussing M&A
"We're familiar with the thinking of other industry players," he said. Saevik said Havila's restructuring talks are still ongoing and declined to comment on remaining issues in restructuring process. On Tuesday, two of Havila's competitors, DOF and Solstad Offshore announced restructuring plans to prepare themselves for more market headwinds and for potential consolidation. Shares in Havila are down 77.5 percent over the past year, against a drop of 4.7 percent for the Oslo benchmark index.
Chain Tensioning, Cutting Completed for FPSO Turritella
InterMoor said it has completed the final tensioning and chain cutting operations on the FPSO Turritella for the Shell Stones project, located in the Walker Ridge protraction area in the Gulf of Mexico (GoM). The FPSO Turritella will connect to subsea infrastructure located beneath approximately 9,500 ft (2,896 m) of water, breaking the existing water depth record for an oil and gas production facility.
Iran Halts LPG Exports to Japan
Iran said on Wednesday it had stopped exports of liquefied petroleum gas (LPG) to Japan, but there were other customers available to buy the Islamic republic's LPG…
Refiners Cold, Oil Unsold amid Nigerian Chaos
Refineries from India to the United States are backing away from buying Nigerian oil amid heightened uncertainty about deliveries as the country squares up to militants in the restive Delta region.
USN's Oceanography Warrant Officers to Make a Return
The Navy is bringing warrant officers back to Naval Oceanography in 2018 after a 28-year hiatus. In late March, the Navy Personnel Command released the message, NAVADMIN 079/16…
McClain Appointed MD of Braemar Engineering
Braemar Shipping Services Group PLC is pleased to announce that Sheila McClain, Executive Vice President of Braemar Engineering, has been appointed Braemar Engineering's new Managing Director.
Damen Introduces New Range of Naval Multi-Role Auxiliary Vessels
During the Oceanographic Survey Vessel Conference in London, Damen Shipyards Group announced the introduction of a new range of Multi-Role Auxiliary Vessels (MRAV).
Three Engineers Win DNV GL Award for Young Professionals
DNV GL has honoured three engineers for their scientific research with the DNV GL Award for Young Professionals. Presented by DNV GL – Maritime CEO Knut Ørbeck-Nilssen at the Posidonia trade fair…
Mid-winter Air drop for Australian Antarctic Division
A Royal Australian Air Force C-17A Globemaster III strategic transport aircraft from Number 36 Squadron has successfully performed an air drop mission over Antarctica…
CMA CGM's Bid for NOL Open Until July 4
CMA CGM has finally made its all-cash voluntary conditional general offer for all the outstanding shares of Neptune Orient Lines (NOL). This follows approvals by…
Otto Marine Gets Acquisition Offer
After last week's media reports that an undisclosed party was looking to buy Singapores offshore marine company Otto Marine Limited, the company said that it received…
DP World Wins New $1bln Port Project in Ecuador
DP World has won a 50 year concession for the development of a greenfield multi-purpose port project at Posorja, Ecuador, 65 kilometres from the country’s main business city of Guayaquil.
Iran Strikes $2.4bn Ship Order with Korea
Iran has placed orders worth around $2.4 billion with South Korean shipyards for the construction of ships to carry Iran’s oil and petrochemical products, The Wall Street Journal says.
Indonesia to Sink 30 Illegal Fishing Boats
Indonesian Maritime Affairs and Fisheries Minister Susi Pudjiastuti has said Jakarta was ready to sink 30 foreign-flagged vessels caught fishing illegally in Indonesian waters…
