Philippines says China Wanted Non-legally Binding South China Sea Code
China pushed for a maritime code of conduct with Southeast Asian countries that would not be legally binding, the Philippine foreign minister said on Tuesday. Alan…
Saudi Aramco Awards First Contract for Planned Shipyard Complex
Saudi Aramco said it has awarded the first major contract in the planned construction of a $5.2 billion shipyard complex designed to reduce Saudi Arabia's dependence on oil exports.
Italy, Malta Turn Away Migrant Rescue Boat
A Spanish aid group operating in the Mediterranean said on Tuesday one of its boats had been barred by Italy and Malta from disembarking migrants rescued two days ago.
Baltic Index Hits Over Three-month High
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to its highest level in more than three months on Tuesday, supported by firmer rates for larger vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 2 points, or 0.19 percent, to 1,038 points, touching its highest since early May. The capesize index gained 4 points, or 0.24 percent, at 1,659 points.
Orient Overseas Back to Black
Orient Overseas (International) Limited (OOIL) and its subsidiaries have announced a profit attributable to equity holders of US$53.6 million for the six-month period ended 30th June 2017…
NAT Says Tanker Market is Volatile
Nordic American Tankers Limited (NAT) claims to enjoy the advantages of a homogeneous Suezmax fleet. Operationally, strategically and financially, NAT and its worldwide…
Eagle Bulk Reports 2Q Loss
Connecticut-based Eagle Bulk Shipping has reported a loss of $5.9 million in its second quarter ended June 30, 2017. However, the net revenue of $53.6 million has…
Navios Maritime Completes Acquisition of 14 Container Vessels
The Marshall Islands-based shipping company Navios Maritime Containers has closed the acquisition of the remaining four container vessels and as a result has completed…
From GloBallast to GloFouling Partnerships
Global Environment Facility (GEF) approves new project concept to address major aquatic invasive species vector. A new global project to help protect marine ecosystems…
Chemical Shipping Faces Oversupply: Drewry
The shipping fleet trading in chemical and vegoil markets is expected to accelerate at a much faster pace than demand, weakening earning prospects, according to…
Kamji Marine joins Green Award Scheme
Green Award Foundation has announced that their network of incentive providers has extended to China. Kamji Marine Agency Ltd entered the Green Award scheme. Kamji…
HMS Queen Elizabeth Set to Sail Home
The U.K. Royal Navy’s new 65,000-metric-ton aircraft carrier, HMS Queen Elizabeth, the largest warship ever to be built in Britain, has been undergoing sea trials since setting sail from Scotland's Rosyth dockyard in June, and is now set to enter her new home in Portsmouth in around two weeks. The warship will be the latest in a long line of famous Royal Navy ships to call Portsmouth home, though the exact date of the historic moment is to be determined depending on weather conditions.
Intermarine’s Grikitis to Receive AOTOS Award
Project, breakbulk and heavylift cargo transport company Intermarine, LLC announced that its President & CEO, Andre Grikitis, will be awarded with the Admiral of the Ocean Sea by the United Seaman’s Service (USS) at the organization’s 48th annual gala at the Sheraton New York Times Square Hotel, New York City, on October 13, 2017. The Admiral of The Ocean Sea Award (AOTOS) has been presented annually by United Seamen's Service for the past 47 years.
New Player Enters the Decommissioning Market
A new entrant to North Sea decommissioning, Well-Safe Solutions was established by a group of oil industry stalwarts Alasdair Locke, Mark Patterson and Paul Warwick, setting out to provide a new approach to the safe and cost-efficient decommissioning of subsea wells. The new start company, which aims to attract £200 million ($260 million) in investment and create 400 new jobs, will offer a specialist well abandonment service.
Sentinel Marine Secures Two New Contracts
Sentinel Marine said it has secured two new contracts bringing the Aberdeen-headquartered firm’s contract wins to a total of £26.4 million ($34.4 million) since January this year. The latest contract wins will provide continued employment for 72 seafarers in the North Sea. Sentinel Marine’s contract with Statoil UK Limited will see the provision of an emergency response and rescue vessel (ERRV) Portland Sentinel in the energy producer’s Mariner field from the beginning of August.
Sizing Up the Market, Scaling Solutions to Size
In October of 2014, news of Oceaneering’s purchase of GE Transportation’s newest marine engine offering was making waves. These engines – ones which meet EPA Tier…
Statoil Set to Drill Its Biggest Arctic Hope
Norway's Statoil will soon start drilling this season's most promising Arctic prospect, Korpfjell, after several disappointing wells in the Barents Sea, the company said on Monday. The majority state-owned company has stepped up drilling in the Barents Sea this year as the government seeks to attract more explorers to its Arctic waters to make up for declining North Sea output. The Norwegian Petroleum Directorate said on Monday Statoil's latest well in the Barents Sea…
Ultimate SIM: Kongsberg's Digital Ecosystem
Ship owners can expect a rich digitalized offering from Kongsberg Group after the merger of its software-producing, oil-and-gas technology division; its maritime simulation (SIM) business and the company’s renewable energy department. Kongsberg Digital is the successor to these, and among the new entity’s cloudlike offerings are new ways to learn and train, as well as new SIM business models. Behind it all is the ultimate learning academy…
NYC’s New Ferries Move a Million Passengers in 86 Days
In operation for just three months, New York City’s new ferry service has already moved more than a million passengers. The new ferry service, NYC Ferry, commenced in May, serving Manhattan, Queens and Brooklyn, with a Bronx connection scheduled for next year. Already, it is off to a great success with very high demand from riders. “We just broke one million rides on @ NYC Ferry….we’re changing the game for more New Yorkers,” New York City Mayor Bill de Blasio tweeted.
Marine Consultants Lead Safety Training Around Offshore Installations
An Aberdeen-based maritime specialist has launched 500m Zone Management training courses to address concerns raised around offshore installation safety zones. Seacroft Marine Consultants is aiming to raise awareness of the need to control marine operations inside the 500m zone as the HSE highlights worries around the control and monitoring of vessels attending installations. With 97 percent of collisions occurring within the 500m zone involving vessels there on legitimate business…
