Mark Chu Steps Down as COO of Seaspan
Seaspan Corporation, the world's largest independent containership owner operator, has announced that Mark Chu has notified the company that he plans to step down…
Samskip Nor Lines' Service to Call Rotterdam
Samskip subsidiary Nor Lines will include calls at Rotterdam for the first time in its weekly multipurpose liner service connecting to Western, Mid and Northern Norway, with effect from June 1st.
IMarEST CEO David Loosley Appointed to Government Maritime Panel
Working in partnership with industry, the government aims to challenge the sector to think about what it will look like in 2050. This vision will reinforce the development of Maritime 2050…
Diana Shipping TC for m/v Arethusa with Glencore
Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam…
Star Bulk Carriers Acquires 16 Vessels
Star Bulk Carriers Corp announced that it has agreed to acquire 16 vessels from entities affiliated with Augustea Atlantica SpA and York Capital Management in an all-share transaction.
Rotterdam to Construct Tide Pools Along Calandkanaal
The Port of Rotterdam Authority will be constructing 16 tide pools along the north side of Calandkanaal. These pools will be realised by embedding raw concrete basins in the banks of the waterway.
Mexico Prepares for Marine Security Threats
Mexico has hosted a five-day workshop on International Maritime Organization (IMO)'s International Ship and Port Facility Security Code (ISPS Code), which sets out…
USCG Increases Marine Casualty Reporting Thresholds
Members should be aware that the USCG has increased the marine casualty property damage thresholds for reportable marine casualties that take place in US waters or involve US-flag ships.
Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.It was unclear what triggered the tweet, Trump's first mention of OPEC on social media during his term.U.S.
EU Suspects Tax Fraud at China's New Gateway to Europe
European Union and Italian authorities are investigating suspected wide-scale tax fraud by Chinese criminal gangs importing goods via Greece’s largest port of Piraeus, a trade gateway between China and Europe, officials said.“The VAT is completely evaded, with enormous damage to the national tax authorities and to the community,” Fabio Botto, of the Italian Central Anti-fraud Office’s special investigative unit…
​Semco Maritime Generated Positive Operating Results in 2017
Semco Maritime’s revenue shrunk to DKK 1,408 million in 2017 against DKK 1,598 million in 2016 as the offshore services provider observed continued price pressure and market hesitancy amid postponed projects and growing competition across its business areas.“Even though oil and gas prices increased during the year, the majority of 2017 was characterized by continued low activity and tough competition in the oil and gas industry.
First COI Issued Under Subchapter M
The U.S. Coast Guard has issued its very first certificate of inspection (COI) under the Subchapter M requirements, which set new rules for the inspection, standards and safety policies of towing vessels.The COI issued to Marine Towing of Tampa's 90-foot tug Endeavor was signed Wednesday by Capt. Holly Najarian, commander of Sector St. Petersburg, Fla., and was presented Thursday morning at the company’s corporate office in Tampa…
GE Profit Tops Estimates
General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits…
Navios Buoyed by JPMorgan Duble Upgrade
Shares of Navios Maritime Midstream Partners jumped more than 15% early Friday morning as JPMorgan upgraded the crude oil tanker operator to "overweight" from "underweight" Stock currently up 13.6 pc
Oldendorff Halts Guyana Operation Due to Rusal Crisis
German shipping group Oldendorff Carriers is stopping its business in Guyana, the company said on Friday, after the United States blacklisted Russian aluminum producer Rusal, which has a plant in the South American country.The United States on April 6 imposed sanctions against Russian entities and individuals to punish Moscow for its alleged meddling in the 2016 U.S. election and what the U.S. Treasury Department dubbed other "malign activity".Since then…
Newbuild Kreuz Challenger Mobilized for Brunei Shell Contract
Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger, as part of its seven-year contract with Brunei Shell Petroleum Company Sdn. Bhd. (BSP).The contract, which runs until 2022, includes supporting BSP with inspection, repair and maintenance services to be carried out on offshore oil and gas structures in Negara Brunei Darussalam's territorial waters.Typically located in water depths of up to 80 meters…
Truman Strike Group Enters European Theater
The Harry S. Truman Carrier Strike Group (HSTCSG) entered the U.S. 6th Fleet area of operations April 18, 2018 as part of a routine deployment in support of NATO allies, European and African partner nations, coalition partners, and U.S. national security interests in Europe and Africa. The presence of the HSTCSG demonstrates the multi-mission capability of the U.S. Navy’s globally deployed force and…
Dry Bulk: Capesize Rally Continues
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, hit an over three-month high on Friday as a rally in the capesize vessel segment helped the index record its best week since August 2014.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 80 points, or 6.7 percent, at 1,281 points, the highest level since Jan.
Odfjell Drilling to Expand Fleet
Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday, the latest sign of recovery in the energy industry.After cuts in exploration spending following an oil price plunge that began in 2014, energy firms are now hiring rigs as crude prices have recovered some ground.Odfjell raised $175 million via a new share issue on Thursday to help buy semi-submersible Stena Midmax Rig from Samsung Heavy Industries for $505 million.
Ships Carrying US Sorghum U-turn after China Tariffs
Several ships carrying cargoes of sorghum from the United States to China have changed course since Beijing slapped hefty anti-dumping deposits on U.S. imports of the grain…
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