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.
BIMCO: China Breaks New Ground… Again
Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded…
Dumping "Dumb" Ships
BOURBON Corporation, like nearly every other player in the offshore oil and gas sector, is scrambling for its very existance as the dynamics in finding and producing…
Singapore Marine Fuel Sales Surge 7.2%
Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed. Compared with the previous month, sales in January were up 7.2 percent, data from the Maritime and Port Authority of Singapore (MPA) showed.
Mobile LNG Bunkers Take Shape in Germany
Nauticor has conducted the largest-ever LNG bunkering operation in Germany in the Elbehafen in Brunsbüttel. As the maritime market moves rapidly toward alternative fuel in the face of strict sulphur guidelines set to take effect in 2020, LNG is emerging as a prefered alternative, and the means to fuel commercial boats and ships of every size is taking shape in many forms. In Germany, for example, Nauticor…
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.
