WSS Warns of Firefighting Compliance
Ship owners will need to act now to ensure they comply with new firefighting rules brought into force on January 1, 2016 for all new buildings warns WSS. New amendments…
DONG Postpones Major Oil Project Offshore Denmark
DONG Energy <IPO-DONG.CO> has terminated a contract to build an oil and gas platform for its Hejre field, postponing indefinitely the major development offshore Denmark…
Chinese Fast Ferry Delivered
Afai Southern Shipyard (Panyu Guangzhou) Ltd. and CoCo Yachts B.V., announced that the first of the two fast ferries was delivered to Zhuhai High Speed Ferry Company in late February. The vessel named HAI QIN recorded a top speed of 38.11 knots at full load on sea trials. The second vessel named HAI JING was launched and sea trials have recently been completed, the company reports.. The performance…
Indonesia Unveils Port Reforms, New Investment Rules
The amount of time it takes for imports to clear Indonesian ports will be reduced to 3.7 days from 4.7 days under new reforms of procedures, the chief economics minister said.
Firm Ship Demand Pushes Baltic Index Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, helped by stronger rates across all vessel segments. The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up three points to 409 points. The capesize index rose four points or 1.97 percent to 207 points. Average daily earnings for capesizes…
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.
Norwegian Shipowners See Tighter Capital Access
Access to capital for cash-hungry Norwegian offshore shipowners is expected to tighten further as lower activity and falling profits continue in 2016, the Norwegian…
Firmer Vessel Demand Pushes Baltic Sea Freight Index Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, helped by stronger rates across all vessel segments.
Damen’s Offers Solutions for Laid Up PSVs
Damen Shipyards Group has developed a committed response to the increasing number of laid up Platform Supply Vessels (PSVs) resulting from the current predicament…
DryShips Ups Its Revolver Facility
DryShips an international owner of drybulk carriers and offshore support vessels, today announced that it has entered into an agreement to increase its secured revolving…
ICS is Shipowners' Rep at UN Meets
At the United Nations in New York, the International Chamber of Shipping (ICS) is representing the interests of shipowners at the opening session of a UN Preparatory…
DP World Chairman meets French President at Investment Summit
DP World Group Chairman and CEO HE Sultan Ahmed bin Sulayem recently met the President of France, Francois Hollande and senior government and business leaders at…
Iran's First Containership Arrives at Antwerp
The first container ship belonging to Iran's IRISL docked at Antwerp after departure Homburg. According to MANA, a cargo ship belonging to Iran's IRISL docked at Antwerp as her second port…
HMM, FESCO and CMA CGM Launch Joint CRS Loop
Prior to the launch, HMM has been jointly operating two services ‘KRS (Korea Russia Service)’ and ‘KR2 (Korea Russia Service 2)’ with FESCO. HMM merged the two joint…
Conrad Earnings Down but Backlog Grows
Conrad Industries, Inc. (OTC Pink: CNRD) announced its fourth quarter and twelve months 2015 results and backlog. For the quarter ended December 31, 2015, Conrad…
Cosco Pacific, PSA Team Up to Expand Terminals in Singapore
COSCO-PSA Terminal Pte Ltd (CPT), a joint venture company formed by Cosco Pacific Limited (Cosco Pacific) and PSA Corporation Limited (PSA), is investing in new…
Diana Fixes Bulker Duo with Glencore
Diana Shipping Inc has inked new time charters with Glencore Grain B.V., Rotterdam for two of its panamaxes at rates below the previous charters, with the contracts commencing on March 26.
Tokyo Gas Completes Hitachi LNG Terminal
Japan’s Tokyo Gas has completed construction of its Hitachi LNG terminal in Hitachi Port area marking the start of operations. The LNG terminal is equipped with a 230…
Cosco Pacific Beats Profit Estimate
Cosco Pacific Ltd.'s 2015 net profit rose 30% from a year earlier on the back of a write back of a provision. It recommended a final dividend of 22.9 Hong Kong cents a share.
DNV GL ECO Insight: Incentive Provider for Enviro Ship Index
DNV GL’s fleet performance management solution ECO Insight has become an incentive provider for the Environmental Ship Index (ESI), a voluntary system designed to…
