Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade
Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo…
EU Clears CMA CGM, NOL Merger, with Conditions
The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.
Royal Caribbean's Revenue up 5.6%
Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's…
How France Sank Japan's Sub Dream
Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian Prime…
ICS Criticises 'Prestige’ Judgement by Spanish Court
At a meeting of the International Oil Pollution Compensation Funds (IOPCF) this week, the International Chamber of Shipping (ICS) has strongly criticised the judgement…
WILCO Logistics Bags Townsville Port Safety Works
WILCO Logistics Pty Ltd has been announced as the successful bid contractor on Breakwater safety works at the Port of Townsville. Minister for Ports Mark Bailey…
Cargotec Logs Higher Profits
* Orders received decreased 4 percent and totalled EUR 903 (939) million. * Order book amounted to EUR 2,095 (31 Dec 2015: 2,064) million at the end of the period.
Fincantieri Delivers Carnival Vista
Carnival Vista, the new flagship of the fleet of Carnival Cruise Line, brand of the Carnival Group, was delivered today at Fincantieri’s shipyard in Monfalcone.
ANZAC Class Frigate Sustainment Deal Signed
The Turnbull Government has signed a long-term contract for the sustainment of ANZAC Class Frigates centred in Western Australia. The strategic partnership between…
Singapore Revokes Two Bunker Licenses
Singapore's Maritime and Port Authority (MPA) have revoked two bunker suppliers' license to operate in the world's top bunker port. The two companies have, according to the authority…
CKYHE Alliance to Reorganize US East Coast Service
CKYHE Alliance, COSCON, “K”Line, Yang Ming, Hanjin and Evergreen Line, is reorganizing their service network for Asia-US East Coast trade in 2016. CKYHE Alliance…
Samsung Heavy Loses $4.6-bln FLNG Order
South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder, has received a contract termination for three floating liquefied…
ECSA Looks Forward to Improvement of Shipping Conditions in Arctic
European shipowners believe that the three priority areas of the new EU Arctic Policy Communication published by the Commission this week address all topical Arctic matters.
Matson Announces Q2 Dividend of $0.18/Share
The Board of Directors of Matson, Inc. today declared a second quarter dividend of $0.18 per common share. The dividend will be paid on June 2, 2016 to all shareholders…
Disabled Fishing Vessel Towed to Maine
The 60-foot fishing boat Paulo Marc was towed by the crew of U.S. Coast Guard Cutter Moray after the fishing vessel became disabled Wednesday about 90 miles east of Portland, Maine. Watchstanders at Sector Northern New England’s command center received notification at approximately 1 p.m. Wednesday that the Paulo Marc, homeported in Gloucester, was disabled with four people aboard. The Moray crew launched and arrived on scene to establish the tow at approximately 8 p.m. Wednesday.
Blacklisted Oil Tanker Returning to Libya
An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export…
US Urges ASEAN Unity on South China Sea Ruling
China risks "terrible" damage to its reputation if it ignores an impending international court ruling on the South China Sea, the United States said on Thursday, while urging Southeast Asian countries to rally behind the court decision. The Permanent Court of Arbitration in The Hague is expected to rule in coming weeks on a case the Philippines has brought against China's claim to virtually all of the South China Sea, a strategic route for a quarter of the world's trade and oil.
Subsea 7 Profits Dip in Q1
Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period. Adjusted EBITDA meanwhile was $284 million with an Adjusted EBITDA margin of 38 percent, higher than 2015 despite the lower revenues. Subsea 7’s Chief Executive Officer, Jean Cahuzac, said, “This performance benefitted from good project…
UK Navy Warship Escorts Queen Mary II
U.K. Royal Navy warship HMS Defender provided escort duties for transatlantic ocean liner RMS Queen Mary II through the Gulf of Oman. The Type 45 destroyer, dwarfed by the enormity of the cruise liner, is equipped with an array of weaponry and radar tracking systems to ensure the safe passage of the luxury ship through potentially dangerous sea lanes. This was the second time in two days the Portsmouth-based warship had escorted a ‘High Value Unit’ through the area, The Navy said.
Voice-data Communications and HDTV in One System
PDQ’s OneSource System provides long range cell, wi-fi and high definition TV in one system for mobile users. San Diego wireless company PDQ Connect has developed the OneSource system to provide cellular and wi-fi service, as well as HDTV using one antenna and one cable connection for all three services. The new system gives mobile users long range voice and data and cost free high definition TV. Features of the OneSouce system include 3G and 4G cell boost up to 20 miles for all carriers…
