Oldendorff Conducts Trial Transshipment in India
German shipping company Oldendorff Carriers has conducted a new transshipment operation of coal between two vessels, in the deep, protected water of the Andaman Islands within the Bay of Bengal…
Container Shipping Struggles with Overcapacity: McKinsey
The container shipping industry is expected to continue to struggle with overcapacity and an inability to deliver value to shareholders, warns consultancy McKinsey & Company in its latest report.
Sberbank, Sovcomflot Sign $106m Finance Deal
The largest bank in Russia Sberbank and shipping company Sovcomflot have signed a new USD 106 million project financing agreement, with a term of up to 14 years.
Ammar Kanaan Appointed CEO of Terminal Investment by MSC
The shipowning group Mediterranean Shipping Company (MSC) has appointed Ammar Kanaan as Chief Executive Officer of its cargo container terminals arm Terminal Investment Limited (TiL).
Statoil Extends Contract with Viking Energy
Norwegian oil major Statoil has declared a one-year option for the Platform Supply Vessel (PSV) Viking Energy from April this year, in direct continuation of current contract.
CMA CGM Improves SAMWAF Service
CMA CGM announced the port coverage improvement of its SAMWAF service connecting Brazil and Plata area to West Africa and South Africa strategic markets, in the…
Dry Bulk, Container Markets Strengthened in 2017: Torvald Klaveness
The tanker market remained subdued, while the dry bulk and container markets strengthened during 2017, said Norwegian shipping company Torvald Klaveness. Torvald…
DNV GL Lends Support to Walney 3 Offshore Wind Project
DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of…
Salvage Work Resumes off American Samoa
Work to remove a commercial fishing vessel aground off American Samoa has resumed in the wake of Tropical Cyclone Gita. Hazardous weather conditions on Friday forced responders to delay efforts to salvage the grounded 88-foot Taiwanese-flagged vessel Chui Zai Fa No. 1, which is split in half with the bow and stern portions sitting side by side in the surf approximately 300-yards off Leone Bay. U.S.
Trump Proposes $200 Mln Budget for BSEE
President Donald Trump today proposed a $199.9 million Fiscal Year (FY) 2019 budget for the Bureau of Safety and Environmental Enforcement (BSEE) as the Administration aims to support a ramp up in domestic oil and gas production. The FY 2019 budget request includes an estimate of $67.9 million in offsetting collections. Offsetting collections includes $20.3 million for rental receipts, $3.8 million for cost recoveries and $43.8 million for inspection fees.
Interview: William P. Doyle - CEO, Dredging Contractors of America
William P. Doyle is the new CEO & Executive Director of the Dredging Contractors of America (DCA). Twice a U.S. Senate confirmed Presidential appointee to the U.S. Federal Maritime Commission (FMC), Doyle has, over the course of a long and celebrated career, worn many prestigious hats. Prior to his FMC appointment, Mr. Doyle served on cabinet and executive level boards and committees under both the Obama and George W. Bush Administrations. Before that, he served as an officer in the U.S.
Trump’s Infrastructure Proposals Disappoint -WCI
Waterways Council, Inc. (WCI) reacted to the Trump Administration infrastructure principles released today, expressing disappointment that the proposal moves toward eliminating the role of the Federal government to construct, operate and maintain the nation’s waterways by transferring that responsibility to nonfederal public or private entities. The President’s FY2019 budget request and the infrastructure…
Shipbuilder Meyer Turku Wins Again
The global cruise market maintains its momentum with the announcement today that TUI Cruises is ordering another new cruise ship from Meyer Turku. TUI Cruises and Meyer Turku agreed to build a Mein Schiff 7 with delivery in 2023, which is based on the design of New Mein Schiff 1 & 2. The agreement is still subject to financing, which is now being worked on with the banks and Finnvera. "We are very…
RollDock, SAL Heavy Lift Form Dock Vessels Pool
RollDock and SAL Heavy Lift announced plans to join forces for roll-on/roll-off and float-in/float-out heavy lift cargoes, saying they will launch a “world’s first” pool for dock vessels from April 1, 2018. The pool will consist of the combined fleet of six vessels and will be managed by RollDock with SAL providing specialized heavy break bulk cargo support. Five of the vessels comes from the existing RollDock fleet (S and ST class vessels) and one from SAL (Combi Dock I).
Several Car Shippers Face Fines for Rigging Bids
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities.
Big Oil Takes Stage for Post-austerity Beauty Contest
With years of austerity in their rear-view mirrors, the world's biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth projections but Exxon Mobil, the biggest publicly traded oil company, has largely disappointed with a weaker outlook.
Sonatrach Eyes More Vessels to Boost Asia Gas Sales
Algeria will acquire more vessels to transport gas to Asia as it eyes increased sales in that region, the chief executive of state energy firm Sonatrach said on Monday. "With Russia and the U.S., gas competition is tough," Abdelmoumen Ould Kaddour told reporters during a visit to the Hassi Messaoud oilfield. He gave no details. Kaddour also said Sonatrach's oil drilling in Algeria's southern neighbour Niger…
Seadrill Nears Comprehensive Restructuring Deal
Rig firm Seadrill, which last year filed for bankruptcy protection in a U.S. court, is working towards a comprehensive deal with all its creditors that could be concluded this week, it said in a court filing late on Friday. Once the largest drilling rig operator by market value, Oslo-listed Seadrill filed its bankruptcy case in Texas on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices.
Evergreen Charters Twelve 11,000 TEU Newbuilds
Evergreen Marine Corp. (EMC) entered into an agreement with Shoei Kisen Kaisha to charter twelve 11,000 TEU class containerships. The charter parties were signed by EMC Chairman Anchor Chang and President of Shoei Kisen Kaisha Yukito Higaki. The plans to charter these vessels were approved early last month at the board meetings of Greencompass Marine S.A. and Evergreen Marine (Hong Kong) Ltd. respectively. The two subsidiaries of EMC will each charter six vessels.
Russia Could Take 2-5 Months to Exit Oil Output Deal
Russian Energy Minister Alexander Novak said on Monday it could take two to five months to exit a global oil output cut deal with OPEC and non-OPEC countries if and when such a decision was taken…
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