Capesize Index Weakens
Upward moves in the Capesize index are now starting to stall, according to Freight Investor Services (FIS). "Last week we witnessed some short covering in the market…
Hyundai to Build ITER Vacuum Vessel
Hyundai Heavy Industries (HHI), the world’s largest shipbuilder and a leading industrial plant EPC contractor,won $101.6 million worth of order to supply two vacuum vessel sectors (No.7…
Hapag-Lloyd, UASC Signs Merger Agreement
Hapag-Lloyd AG (Hapag-Lloyd) and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to…
BP Fixes ANS Lifting on Foreign Flagged Vessel
British oil company BP has chartered a foreign flagged vessel to transport Alaskan North Slope (ANS) crude, pending regulatory approvals, a spokeswoman for the company said by email on Monday.
Ghana cuts GDP Forecast
Ghana has cut its 2016 economic growth forecast sharply to 4.1 percent from 5.4 percent due to lower export prices and irregular oil production, Finance Minister Seth Terkper told Reuters on Monday. Oil output was halted between March and May at the offshore Jubilee field due to a breakdown on a production ship, and the country lost millions of dollars in revenue. It has since restarted at a lower rate.
Dark Cloud of Offshore Storage Looms
Glencore books the STI Grace tanker to store fuel at sea-traders. This has not been the summer many oil traders had expected after last year's bumper profits. Banking on more of the same…
Port of Boston Welcomes Largest Cargo Ship to Date
COSCOCS, one of the largest container operators in the world, upgraded its service into the Port of Boston Sunday with a vessel that can carry more than 8,500 TEUs (20-foot equivalent units)…
Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey
The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were…
Verweij Hoebee Groep Extends Service Portfolio with Management Audits
Verweij Hoebee Groep, a subsidiary of BMT Group, expanded its service portfolio with the introduction of management audits of ship owners. This unique prevention concept goes beyond the standard condition surveys which are conducted on board ships and extends to the examination of both management and technical operations. Director Bruce Verweij explains: “The primary goal is to limit the risk of damage to ships or ships that are under repair.
MTA Grows Portfolio with Magnificent Seven
Maritime Training Academy are adding to its portfolio of training courses with the addition of seven new Diplomas, confirming its position as a world leader in the…
Ships Worsen Air Pollution Over China, Killing Thousands
A boom in shipping is aggravating air pollution in China and other nations in East Asia, causing thousands of deaths a year in a region with eight of the world's 10 biggest container ports, scientists said on Monday. Often overlooked compared to cars and factories that are far bigger causes of smog, ship traffic has more than doubled off East Asia since 2005 and some pollution from the fuel oil of ships wafts inland, they said.
Marsol Launching Rhino Craft in Dubai, Abu Dhabi
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, will be launching and demonstrating its Rhino Craft 750 HDPE vessel at exclusive events in Abu Dhabi and Dubai. The multi-purpose workboat is fabricated from ductile, high strength polyethylene and has been designed with a primary focus on the offshore oil and gas and coastal patrol markets, based on years of hands-on offshore experience.
Blohm+Voss Strengthens Team
Blohm+Voss has appointed Jean-Gabriel Tridon as General Manager and Dieter Pladeck as Finance Director for its new maintenance and refit facility in La Ciotat in the south of France. The company has filled the two management positions only two weeks after winning the local tender of La Ciotat Shipyards for the setting up of the new site. In La Ciotat, Blohm+Voss will focus on the maintenance and refit of megayachts of over 80 meters in length.
Polar Cruise Ships: Rolls-Royce Signs $33M Deal
Rolls-Royce has signed a contract worth about $33m with the ship building company Kleven in Norway for design and ship equipment to two new polar cruise vessels, with an option for two additional vessels. The contract between Kleven and Rolls-Royce follows the conversion of a letter of intent into a firm contract signed between Kleven and Hurtigruten. Helge Gjerde, Director of Offshore and Merchant Solutions…
Fratelli Neri S.p.A. Orders Three Damen Vessels
Fratelli Neri S.p.A., the family-owned, Livorno-based harbor towage company, has ordered three new Damen vessels; an ASD Tug 2913, a Stan Tug 1606 and a Stan Launch 1305, the last for its subsidiary company Labromare, which is 50% owned by Tripmare S.p.A. All three vessels will operate in and around the port of Livorno, one of the busiest in the Mediterranean Sea. Delivery will take place in November this year.
PALFINGER Makes Takeover Bid for TTS
The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published…
Baltic Index Firms on Panamax, Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels.
Stolt-Nielsen buys Jo Tanker's Chemical Tanker Ops
Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers.
Shipping Oversupply Persists Despite Scrapping Increase: Drewry
A record number of around 150 container vessels are expected to be scrapped in 2016 but it will not be enough for an industry battling over capacity, low demand and falling rates…
Alfa Laval Dips on Q2 Profit, Margin
Q2 adjusted EBITA SEK is 1.39 bln vs year-ago 1.82 bln and 1.44 bln seen in Reuters poll. CEO says sees slightly lower demand in Marine & Diesel division in Q3 vs Q2.
