SGX Prods Baltic Exchange Shareholders to Okay Bid
Total valuation of potential deal at least $113 million; Baltic shareholders key to clinching sale agreement. Singapore Exchange Ltd (SGX) plans to buy one of London's oldest institutions…
Asia Tankers-VLCC Rates to Fall but Bottom in Sight
VLCC owners sailing slower and idling vessels; slow market to continue into September. Freight rates for very large crude carriers (VLCCs), which hit multi-year lows on Thursday…
COSCO to buy 51 pct stake in Piraeus Port
China COSCO Shipping, which owns the world's fourth largest container fleet in terms of capacity, is expected to wrap up the purchase of a majority stake in Greece's largest port…
USN Licenses Boat Design from Willard Marine
The United States Navy and Willard Marine have executed a licensing agreement for a Willard Marine boat design to serve as the guideline for the Navy’s new 11-meter…
Hoover, Ferguson, CCC Announce Merger
Hoover Container Solutions (“Hoover”), Ferguson Group (“Ferguson”) and CHEP Catalyst & Chemical Containers (“CCC”), the three global providers of container solutions products in the energy…
Vard Takes Control of Vard Promar, Brazil
Vard Holdings Limited (VARD) has increased its ownership stake in its indirect subsidiary in Brazil, Vard Promar, to 95.15%. Vard Promar, previously held 50.5% by VARD’s wholly-owned subsidiary…
MSC Alexandra, VLCC Dream Collided in Singapore Strait
The Maritime and Port Authority of Singapore says it was notified just before midnight yesterday (Aug 4) of a collision involving Dream II VLCC (Very Large Crude…
USCG and DNV GL Sign New Pact
The United States Coast Guard (USCG) and DNV GL signed a memorandum of agreement (MOA) authorizing DNV GL to participate in the Alternate Compliance Program (ACP)…
IMO Rolls Out GloMEEP Website
International Maritime Organization (IMO) has launched a website for GloMEEP energy efficiency project. IMO’s continuing efforts to promote environmentally sound…
Spot Rate Trends on Asia-Europe See Reversal: Drewry
The downwards trend line in Asia-Europe spot freight rates has finally been reversed, as data from World Container Index Shanghai-Europe reveals. Whereas the first…
Prosecutors Summon DSME CFO
The Seoul Central District Prosecutors’ Office summoned the chief financial officer (CFO) of Daewoo Shipbuilding & Marine Engineering Co. (DSME ) today (Friday)…
Navig8 Chemical Tankers Sees Income Rise
Navig8 Chemical Tankers Inc reported its net income at $9.6 million, against a net income of $2.9 million seen in the three months ended June 30, 2015. Continued…
New Mission Set to Retrieve El Faro's VDR
The National Transportation Safety Board (NTSB) will launch its third mission to the wreckage of the El Faro on Friday from Virginia Beach, Virginia. The mission’s primary objective is to retrieve the sunken cargo ship’s voyage data recorder. The Military Sealift Command’s fleet ocean tug USNS Apache is expected to arrive at the accident site around August 9. Along with the NTSB, the U.S. Coast Guard, the U.S.
New Diving Training Ship Delivered to Tunisia
The Tunisian government has taken delivery of a new training ship, Zarzis A710, which will support diving and security works in air and sea areas of the Mediterranean. The vessel was built by Vittoria Shipyard SpA and commissioned by the Tunisian Defense Ministry as part of the Tunisian-Italian cooperation agreement signed in spring 2015. The Diving Support Vessel will be deployed by the Tunisian authorities…
Kongsberg Wins EPCI Contract for Newbuild RoPax Ferry
Kongsberg Maritime said it has been awarded an engineering, procurement, construction and installation (EPCI) contract worth more than NOK 120 million from Flensburger…
Tanker, Containership Collide in Singapore
An Iranian supertanker collided with a container ship in the Singapore Strait with no loss of life or pollution despite damage to both vessels, shipping officials said on Thursday.
Two High-tech SSCVs Ordered in China
Holding OOS International Group B.V. confirms it has signed a fixed contract for the engineering and construction of two new build Semi-Submersible Crane Vessels (SSCV) with China Merchant Industry Holdings, a fully owned subsidiary of the China Merchant Group. “OOS took a quantum leap within the oil and gas/wind Industry,” said Léon Overdulve, Founder and owner of Holding OOS International Group B.V.
Unexpected Demand to Boost Dry Bulk Rates -Drewry
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China importing more coal and iron ore to combat pollution and poor quality, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. Macroeconomic policy decisions by the Chinese authorities have had an impact on the overall dry bulk market…
Canada's Largest Electric Tour Boat Launched
A new, emission-free electric tour boat now plies the Rideau Canal, powered by two 80 horsepower Torqeedo electric motors. The 75-foot, 100-passenger vessel Queen Elizabeth Dr. is the first of two planned vessels to offer guided tours and host events on the canal. The second, Colonel By, is expected to enter service in the spring of 2017. “Torqeedo's high-power Deep Blue system was the obvious choice…
US Coast Guard Barque Eagle Sails to New York
The U.S. Coast Guard Cutter Eagle sailed into New York City, Thursday, as part of a voyage commemorating 70-years since the original journey from northern Germany to New York. The historic Eagle – the only active commissioned sailing vessel in the U.S. armed services – was constructed in 1936 and was acquired from Germany as a war reparation following World War II. The shipe is now primarily used to train cadets from the U.S. Coast Guard Academy.