EC Measures to Improve Conditions for Seafarers
The European Commission (EC) has adopted a proposal for a Directive which aims at improving the working conditions of seafarers on board EU-flagged vessels. The…
India Takes Steps to Counter Piracy
The Government has taken steps as part of various preventive/mitigating security measures to deal with sea-piracy, Minister of State for Shipping and Road Transport and Highways Pon.
Gasoline Futures Rally Propels Crude Markets
U.S. shale drilling slowdown may be temporary. Oil prices rose to an eight-week high on Thursday, as a rally in U.S. gasoline futures spurred further gains this…
Marine Jet Power, Horizon Ink Sales & Service Pact
Marine Jet Power, Inc. (MJP) and Horizon Shipbuilding, Inc. (Horizon) announced that they have signed an agreement for Horizon to become the newest sales and service provider in the Gulf of Mexico. The Master Sales and Service Agreement names Horizon as an authorized retailer and service provider for MJP’s water jets covering the coastal markets in the United States Gulf region. The new agreement greatly benefits ship owners as well as shipbuilders in the region.
Saudis Stop Tankers From Entering Yemen, UN Says
A Saudi-led military coalition and the government of Yemen denied four oil tankers access to a Yemeni port last week, a move that could hurt the flow of aid and…
Macron, Gentiloni Discussing STX, Libya, Migration
Italian Prime Minister Paolo Gentiloni received a "friendly" phone call on Thursday from French President Emmanuel Macron to discuss the STX France shipyard, Libya and immigration…
France Nationalizes Shipyard to Thwart Italian Majority
France will temporarily nationalise the STX France shipyard to prevent an Italian firm taking majority control, the economy minister said on Thursday, marking President…
Matson to Start U.S. Flag Marshall Islands Route
Matson has announced that it will introduce a new direct U.S. flag service between Honolulu and the Republic of the Marshall Islands ("RMI") that will shorten cargo transit times to the RMI from the U.S. mainland by as many as eight days. The new biweekly service will call at three ports in the RMI — Kwajalein, Ebeye and Majuro — starting in the first quarter of 2018. Matson has entered into an agreement to purchase a 707-TEU…
Kirby Announces 2Q Results
Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter. Second quarter net earnings includes pre-tax expenses of $0.7 million, or approximately $0.01 per share, related to the pending acquisition of Stewart & Stevenson LLC (“S&S”).
Italy Mulls Deployments in Libyan Waters
Tripoli government invited Italy into its waters; some 600,000 boat migrants have come to Italy since 2014. Italy intends to deploy several ships in Libyan waters…
Baltic Index Down Again on Broad Weakness
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday for a second straight day, on weaker rates across all vessel segments.
Diana Shipping's Vessel Melite Grounds off Indonesia
Greek dry bulk owner Diana Shipping's Panamax bulk carrier, Melite, has been temporarily disrupted due to a grounding incident at Pulau Laut, Indonesia. "The employment…
Hyundai Merchant Marine Seeks USD 8.9 bln from KDB
Hyundai Merchant Marine (HMM) requested the Korea Development Bank (KDB) to support with a total of 9.9 trillion won (US$8.9 billion) in funds until 2022 to grow…
Harren & Partner to Acquire SAL Heavy Lift
Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for Harren & Partner to acquire German carrier SAL Heavy Lift today (27 July 2017).
North Sea Terminal Bremerhaven Upgrades to Navis N4
North Sea Terminal Bremerhaven (NTB) has upgraded its terminal operating system from Navis Express to the N4 terminal system. NTB is one of Europe's busiest and most important container terminals…
EMP Aquarius MRE Prepares for Sea Trials
Eco Marine Power (EMP) has begun preparing for sea trials of its Aquarius Marine Renewable Energy (MRE) solution in co-operation with strategic partners and ship owner Hisafuku Kisen K.K.
Japan Bank Finances Danish Shipper
The Japan Bank for International Cooperation (JBIC) will provide a total of $28.3 million in syndicated loans with French bank BNP Paribas to help a major Danish…
Navios Group Rolls Out Containers Division
Navios Group has launched Navios Containers, a vehicle dedicated to the container sector. Navios Containers has the right to acquire all containerships offered to the Group…
Safe Bulkers Reports 2Q Loss, Buys Newbuild
Safe Bulkers has reported a loss of $1.6 million in its second quarter ended June 30, 2017 as compared to $9.0 million, during the same period in 2016. Net loss…
ESG Completes First OPC Milestone On Schedule, Within Budget
Panama City, FL, Eastern Shipbuilding has successfully completed its Initial Critical Design Review (ICDR) milestone with the United States Coast Guard on 21 July…
