Construction Begins on Johan Sverdrup Riser platform
The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right)…
NAT Takes Delivery of Suezmax, Earnings Capacity Up
Nordic American Tankers Limited ("NAT" or "the Company") announced that it today took delivery of a Suezmax vessel, the Nordic Sirius, built at a shipyard in Japan.
SOLAS Container Mass Verification Rule Enter into force
A new regulation requiring the gross mass of a container to be verified before it is loaded onto a ship enters into force today (1 July 2016). It will assist in…
Paris MoU Reports Decrease in 'Bans'
Paris MoU reports that 2015 shows a large decrease in the refusal of access (“bans”) within the region: 11 bans compared to 20 in 2014. The detention percentage has remained stable at 3.33 percent.
Boon, Non-executive Director of ST Engineering Resigns
Singapore Technologies Engineering Ltd (ST Engineering) today announced the resignation of Mr Quek Tong Boon as non-executive Director with effect from 1 July 2016.
BSM Acquires USCG Qualship 21 Program Approval
Bernhard Schulte Shipmanagement is proud to announce that it has received US Coast Guard (USCG) Qualship 21 Program approval for the BSM India-managed, Algoma-owned…
BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016.
SENER Hosts FORUM Users Meeting
The SENER engineering and technology group has finished its ninth FORUM (the FORAN Users Meeting) designed so that FORAN users from all over the world can share their experiences and concerns…
Light at the End of the Tunnel Distant for Multipurpose Shipping
The demand outlook for the multipurpose fleet has not improved since the first quarter of 2016. The breakbulk and project cargo sector remain weak, with little suggestion…
India’s Potential in Offshore Wind Power
The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.
Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.
The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.3 million in the period.
Jinhui Sells Supramax
Jinhui Shipping and Transportation has agreed to sell another supramax dry bulk carrier, having just made a similar deal earlier this month. The purchaser is a company incorporated in Hong Kong.
UASC and Hapag-Lloyd Merger in the Last Leap
A merger between United Arab Shipping Company (UASC) and German container shipping line Hapag-Lloyd will create a shipping group that is the 5th largest in the…
Russian Sub 'Stary Oskol' Enters Black Sea
Russia’s Stary Oskol submarine, the third boat in Project 636.3 series for the Black Sea Fleet, on a voyage to its permanent base has passed the Bosporus and Dardanelles straits…
VLCC Delivered to Gener8 Maritime
Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27…
COSCO Says Piraeus Port Sale Terms Inconsistent with Deal
COSCO Greece objected on Wednesday to terms submitted to parliament for the sale of Piraeus Port to China COSCO Shipping, saying they were inconsistent with those previously agreed with the Greek privatisation agency. Greece sealed the sale of Piraeus Port Authority to China COSCO Shipping Corporation in April, a major step for the bailed-out country in meeting the demands of international creditors that it step up privatisations.
BP Receives its First Venezuelan Crude Cargo under Swap Deal
Britain's BP Plc this month received a Venezuelan crude cargo from state-run PDVSA, according to Thomson Reuters trade flows data, the first since the companies…
Future LCS Charleston’s Keel Authenticated
A ceremony was hosted to celebrate the keel authentication of the U.S. Navy's future USS Charleston (LCS 18), the ninth Independence variant littoral combat ship, June 28. Charlotte Riley, wife of former Charleston mayor Joseph Riley, serves as the ship's sponsor and honorary member and advocate for the crew. U.S. Rep. Bradley Byrne served as the honorary keel authenticator during the ceremony and was present to weld his initials into the keel plate.
Agthia Signs 25-year Lease in Abu Dhabi
Abu Dhabi Ports and Agthia Group PJSC have signed a lease agreement aimed at expanding the group’s existing Grand Mills Flour and Animal Feed facilities at Zayed Port. The new agreement was signed by Captain Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports and Iqbal Hamzah, Chief Executive Officer of Agthia Group at Abu Dhabi Ports headquarters. The contract between the two parties incorporates a 25-year agreement for a 85…
Oil Up on US Crude Draw; Brent Back Above $50
Oil prices surged 4 percent on Wednesday, with Brent settling above the psychological $50 a barrel mark, after a larger-than-expected drawdown in U.S. crude inventories.
