Stena Drilling Signs Contract with Nexen Petroleum
Offshore driller Stena Drilling has signed a contract with Nexen Petroleum U.K. Limited for the Stena Spey drilling rig. Stena said in a press release that the…
Port of Piraeus Profit Up by 92%
The Piraeus Port Authority S.A. (PPA) 2017 financial report revealed profits before tax amounted to €21.2 million ($26.19 mln) compared to €11.0 million ($13.59 mln) in the year 2016…
Shipbreaking Case Against Seatrade in Dutch Court
For the first time in Europe, Public Prosecutors are bringing criminal charges against a ship owner – Seatrade – for having sold vessels to scrap yards in countries…
MISC Profit Plunges
Malaysia International Shipping Corporation Berhad (MISC)'s net profit plunged 87.1% to RM 68.2 million (USD 17.36 mln) for the fourth quarter ended December 31…
NYK Cautions of Illegal Conducts in Chinese Subsidiary
Nippon Yusen Kabushiki Kaisha (NYK) said that it has discovered that there is a possibility that former locally hired management personnel in NYK Car Carrier (China)…
THE Alliance Announces Further 2018 Network Enhancements
Following the announcement of the 2018 service network in December the members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have worked to refine the product offerings.
MOL Allies with NCC
Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed a capital and business alliance agreement with chemical tank specialist logistics provider Nippon Concept Corporation (NCC).
Five Killed in Blast Onboard Modu Sagar Bhushan
Five people were killed and 7 injured yesterday (February 13), in an unfortunate fire incident onboard Sagar Bhushan, an oil rig of ONGC, undergoing repairs at Cochin Shipyard.
US DOT Chief: Weighing All Options to Fund Infrastructure
The Trump administration is weighing a range of options to fund public infrastructure projects, including private-sector investments and a higher tax on gasoline, U.S.
Diana Sells Containership New Jersey
Diana Containerships Inc. (NASDAQ: DCIX) announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated…
Three Dead After Refugee Boat Capsizes Near Turkey
Three people died and four were missing on Tuesday after a refugee boat carrying eight people capsized in a river that flows between Turkey and Greece, a spokeswoman…
Greece Protests to Turkey Over Boat Incident in Aegean Sea
Greece sent an official complaint to Turkey on Tuesday, its foreign ministry said, after a Turkish vessel collided with a Greek coast guard boat off disputed islets in the Aegean Sea.
Fitch: U.S. Port Growth Steady as NAFTA Decision Looms
U.S. ports are positioned for another solid year of growth, though the Trump administration's evolving stance on both domestic and international trade is a long-term development worth a close watch, according to Fitch Ratings in its latest sector briefing. This after a strong 2017 in which ports on both coasts saw overall growth through the year. "Moving to larger ships and implementing operational alliances have helped drive volume growth on both coasts in 2017," said Emma Griffith, Director.
LOOP Tests Crude Exports with VLCC
The Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, said on Tuesday it had moored a supertanker and initiated a detailed test procedure…
Crowley, Pivotal Reach Multi-Year LNG Supply Pact
Crowley Fuels has announced that it has signed another multi-year supply contract with Pivotal LNG to support a major pharmaceutical company’s energy needs in Puerto Rico. The contract, executed through Crowley subsidiary Carib Energy (USA) LLC, calls for Crowley to transport LNG from Pivotal facilities on the mainland to the island manufacturer. With Crowley’s supply chain solution, LNG is loaded into Crowley’s 10…
Jack-up Vessel Seafox 5 Departs DVR
The 151-meter, self-propelled, DP2 jack-up rig Seafox 5 has left the Damen Verolme Rotterdam (DVR) shipyard following a four-month refit in which the boom of its main crane was lengthened to prepare it for a new contract, along with a range of maintenance and other upgrade works. Seafox 5 is now equipped to undertake offshore wind projects involving the next generation of larger wind turbines in water depths of up to 65 meters.
Baltic Index Dips as Vessel Demand Slows
The Baltic Exchange's main sea freight index slipped for the second straight day on Tuesday as demand across vessel segments fell ahead of a week-long holiday in China beginning Thursday. * The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 9 points, or 0.8 percent, to 1,114 points. * The capesize index fell for the first time in six sessions, losing 31 points, or 1.7 percent, to 1,793 points.
Nordic American Tankers: Near term challenges remain - CS
Oil tanker company's shares down 1.8 pct at $2.15 premarket. Credit Suisse halves PT to $2, says near-term challenges remain. "On the heels of the second-worst year for tankers in 20 years…
Fire on Ship Under Repair Kills 5 in India
A blast caused by a fire on a ship under repair at India's Cochin Shipyard Ltd killed five people on Tuesday, and injured around 11, a company spokeswoman said,…
Kvaerner Invests in New Quay at Stord
Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and this extension will position Kvaerner for deliveries of new solutions to both oil and gas projects and other market segments," said Kvaerner president & CEO, Jan Arve Haugan.
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