Reach Subsea Bags Statoil Contract
Norway-based Reach Subsea has been awarded a Frame Agreement for Inspection, Maintenance and Repair (IMR) services to Statoil Petroleum.The frame agreement has a duration of five years…
Seabourn Ovation Christened in Malta
Carnival Corporation's luxury cruise brand Seabourn introduced its newest vessel with a naming ceremony for Seabourn Ovation in the harbor of Valletta, Malta.Seabourn…
Stronger Capesize Rates Lift Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged higher on Monday on firmer demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up four points, or 0.3 percent, at 1,476 points.The capesize index gained five points, or 0.2 percent, at 2,635 points, its highest since Jan.
China's First Home-built Aircraft Carrier Begins Sea Trials
China’s first domestically built aircraft carrier headed out for sea trials on May 13, Chinese state media reported. The report said that the new aircraft carrier…
Renewed Optimism is Exploration
Renewed optimism is the theme for exploration in 2018, driven by higher oil prices and improving exploration performance. The cost of exploring has fallen more than…
Skuld Launches Members’ Performance Bonus
Norway-based international marine insurance company Skuld announced a positive bottom line result of USD 58 million (USD 51 million in 2016 before members' credit)…
Shell, Total to Develop Gas Project in Oman
Total has signed a Memorandum of Understanding (MoU) with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstream and downstream businesses.
V.Group Appoints Junshan Zou as Managing Director for China
The global provider of maritime services V.Group has appointed Junshan Zou to build, lead and drive V.Group’s activities in China, including business development, ship management and marine services.
ADNOC to Run Ruwais Container Terminal
ADNOC Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (ADNOC), has signed a contract with Borouge, a leading provider of value creating plastics solutions…
Kongsberg Norcontrol Pact with Norwegian Coastal Administration
Kongsberg Norcontrol has signed a framework agreement with the Norwegian Coastal Administration for delivery, operations and maintenance of radars to the maritime traffic service.
Yang Ming Marine Transport Corporation Reports Higher Revenue
Yang Ming Marine Transport Corporation said that the consolidated revenues of Q1 totaled NTD 31.03 billion (USD 1.07 billion), up 2.58% compared with NTD 30.25 billion…
Jeddah Mulls Safe and Secure Regional Waters
Signatory States to an agreement aimed at repressing piracy, armed robbery and illicit maritime activity in the western Indian Ocean and the Gulf of Aden Area have…
India Seeks Banks Financial Support for Inland Water Transport
The Inland Waterways Authority of India (IWAI) will involve banks for ensuring availability of financing options for the private players engaged in Inland Water Transport (IWT) sector.
Shell Gets Mexico LNG Supply Tender
Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources. State-run utility CFE held…
Explosion Damages Bulker en Route to Yemen
An explosion has damaged a Turkish vessel carrying wheat to Yemen's Houthi-controlled port of Saleef, with varying accounts attributing the incident on Thursday…
GE Powers New Italian Frigate
Federico Martinengo, the seventh multipurpose FREMM frigate recently delivered to the Italian Navy by shipyard Fincantieri, like all 10 ships in the new Carlos Bergamini-class FREMM frigate program, features the power dense GE LM2500+G4 gas turbine in a COmbined Diesel eLectric And Gas turbine (CODLAG) propulsion system.In 2013, Fincantieri delivered the first Italian FREMM, Carlo Bergamini. In addition to the Italian FREMM frigates…
Diesel Tankers Turn to New York after Stocks Drop
Tankers carrying diesel from Asia and Europe, including a giant 200,000 tonne cargo, are sailing towards New York where fuel supplies have dropped to a three-year…
PDVSA Retrenches in Caribbean
Venezuela's PDVSA will let the 335,000 barrel-per-day refinery it leases in Curacao halt operations once crude inventories are exhausted as no new shipments are planned to the Caribbean following ConocoPhillips's legal actions, according to two sources.PDVSA is also changing its trade arrangements to start delivering all its oil for exports in Venezuelan waters, including the ship-to-ship transfers that have to be made for sending cargoes to Asian destinations.Conoco last week started several le
New Radar Agreement Strengthens Safe Sailing
Kongsberg Norcontrol has signed a framework agreement with the Norwegian Coastal Administration for delivery, operations and maintenance of radars to the maritime traffic service.The agreement has a potential total value of up to NOK 250 million ($31 million) and a duration of up to eleven years.This is amongst the largest framework agreements the Norwegian Coastal Administration has entered into with…
Top Container Shipping Lines Reviewing Iran Operations
The world's top two container shipping groups Maersk Line and MSC are reviewing their Iran operations after the United States withdrawal from the international nuclear agreement with Tehran.The 2015 agreement, worked out by the United States, five other world powers and Iran, lifted sanctions on Tehran in exchange for limits to its nuclear program.U.S. President Donald Trump also instructed his administration to re-impose U.S.
