Tanker Market: ‘New Normal’ Drives Downbeat Summer Sentiment
The tanker market is forecast to see challenging conditions with technical and structural factors impacting earnings, according to independent research and consultancy firm Maritime Strategies International (MSI). In its latest Tanker Freight Forecaster, MSI dismisses claims that current conditions in the bellwether VLCC freight market are entirely due to seasonality. Instead, MSI says dynamics reflect lower rates of crude import growth across the year combined with reduced waiting times and…
Fednav's New Bulker Features High-tech BWT System
Fednav Limited, an international bulk shipowner in Canada, has welcomed to the Port of Indiana – Burns Harbor, the Federal Caribou, one of seven new oceangoing lakers equipped with a ballast water treatment system—a first for the Great Lakes. This vessel protects the Lakes by treating its ballast water two times: by conducting an exchange in the North Atlantic, and through filtration and a chlorine disinfection treatment on the ship.
Baltic Exchange Board Backs SGX Bid
The Baltic Exchange board has unanimously backed a takeover bid from Singapore Exchange Ltd , a deal that will give SGX access to a trading platform for the multi…
Fire-stricken Ferry Moored Safely
The fire aboard the passenger vessel ferry Caribbean Fantasy has been extinguished, and the vessel has been moored safely at Pier 15 in San Juan Harbor, the U.S. Coast Guard said. The fire broke out Wednesday, August 17, leading to the evacuation of 511 people from the ship. The Puerto Rico Fire Department put out the blaze around 6 p.m. Saturday using 3,000 gallons of seawater from the San Juan Harbor. The single source of the fire was contained within the vessel’s engine room.
Fred.Olsen Energy, Hyundai Settle Rig Dispute
Rig firm Fred. Olsen Energy and South Korean yard Hyundai Heavy Industries settle dispute over construction of semi-submersible rig Bollsta Dolphin. Shares in Fred.
NordLB to Shed Shipping Loans to KKR
German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from…
Hiab Launches HIAB X-HiPro 232, Mid-range Innovations
Hiab, part of Cargotec, is renewing its mid-range loader cranes with 24 totally new models which will be launched in connection to upcoming exhibitions in Elmia, Sweden and IAA, Germany.
Damen Repairs Two Van Oord Barges
Damen Shiprepair Vlissingen recently completed a broad scope of maintenance and repair works on the Van Oord-owned Split Hopper Barges Jan Blanken and Jan Leeghwater.
Austal Hosts Christening of YUMA (EPF 8)
Austal celebrated the christening of the Expeditionary Fast Transport ship USNS Yuma (EPF 8) with a ceremony at its state-of-the-art shipyard here, this morning.
Boat Sinks in Indonesia: 10 dead, 5 missing
Ten people have drowned while five are still missing after a wooden boat carrying 17 people capsized in the province of Riau Islands on Sunday morning, reports the Jakarta Post.
MPA Asks Singapore Maritime Firms to Adopt Sustainability Reporting
In June this year, the Singapore Exchange (SGX) introduced sustainability reporting on a ‘comply or explain’ basis. To assist and encourage the maritime sector to…
Will Vessel Prices Continue Relentless Slide?
Tanker Opinions, published Poten & Partners says that, for a shipowner, there are usually a few twists to the traditional capital budgeting process. A shipowner…
KOGAS to Support Korean Shipyards
In a bid to help South Korean local shipyard weather their worst-ever slump, the State-run Korea Gas Corp. (KOGAS), the world's largest LNG importer, will soon place…
Is DSME Facing Delisting?
South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME), faced with risks of being delisted from the stock market due to capital erosion, is seeking measures for survival…
Ice Free Arctic?
Arctic melting slowed enough in midsummer that scientists don't expect this year's sea ice minimum to set a new record. This year’s melt season in the Arctic Ocean…
Iran Plans to Ship LNG to Europe
Iran plans to export Liquefied Natural Gas (LNG) to Europe, Mehr News Agency quoted Iranian Minister of Oil Bijan Zanganeh as saying. Zanaganeh described Iran’s…
ExxonMobil Contributes $ 0.5 Mln to Louisiana Flood Relief
Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $500,000 to the American Red Cross and the Greater Baton Rouge Food Bank to support local…
Lerwick Port Launches Latest VMS
Lerwick Port Authority have inaugurated a new Vessel Monitoring System (VMS) which utilises the latest technology to improve the handling of ship movements at the busy Shetland port.
DP World Rating Upgraded by Fitch
Fitch Ratings recently upgraded DP World Limited’s Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable.
Navy to Christen Expeditionary Fast Transport Yuma
The Navy will christen its newest Expeditionary Fast Transport, USNS Yuma (EPF 8), Saturday, Aug. 20, 2016, during a 10 a.m. EDT ceremony, in Mobile, Alabama. Yuma…
