Milaha Reports 10% Increase in Net Profit
Qatar Navigation (Milaha) Q.P.S.C. has announced its financial results for the nine months ended September 30, 2018. Key financial highlights:•Operating revenues…
Shipbuilder Austal Reports Data Breach
Shipbuilder Austal Ltd said on Thursday its Australian business had detected and responded to a data breach in which some staff email addresses and mobile phone numbers were accessed.The breach, which affected the company's data management systems, has had no impact on Austal's ongoing operations, it said in a statement.The attacker tried to sell certain materials on the internet and engage in extortion.
U.S. Soybean Growers Mull Box Shipping as Trade War, Record Harvest Loom
Illinois Soybean Association Rallies U.S. Growers to Consider Shipping Via Container to Find New Markets for Anticipated Record Harvest.The anticipated bumper harvest of U.S. soybeans this fall amid a trade dispute with China presents an opportunity for growers to reach new international markets with containerized shipping. Farmers this spring sowed more soybeans than corn for the first time in 35 years.
Weaker Capesize Demand Weighs on Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities hit a fresh one-month low on Thursday, dragged down by weaker demand for capesize vessels.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, dipped 20 points, or 1.3 percent - its lowest since Sept. 25, to 1,470 points.* The capesize index lost 66 points, or 2.5 percent, to 2,530 points, its biggest one-day percentage fall since Oct.
Damen’s "Captains’ Challenge" Highlights Workboat Festival
Amid all the tours, presentations and networking at Damen’s recent Workboat Festival there was one feature that stood out from all the rest for being highly satisfying for some, and distinctly frustrating for others. The Captains’ Challenge was open to all comers, and all it required was that contestants drive a launch 80 meters across the river.However, it wasn’t quite that simple. The launch had to be driven backwards and…
Polarcus Wins 3D Project in West Africa
Offshore geophysical firm Polarcus Limited said Thursday it has received an award for a 3D marine seismic acquisition project in West Africa.The award comprises two surveys of approximately three months each, with the first survey expected to commence Q2 2019 and the second survey Q4 2019.
TGS Remains Upbeat as Shares Drop
Oslo-listed seismic surveyor TGS fell more than 10 percent after reporting disappointing third-quarter results on Thursday, as oil firms were still too cautious to spend despite a raft of upbeat earnings.TGS, which maps the seabed in search of hydrocarbon deposits for oil firms, reported quarterly operating profit of $24 million, down from $26 million a year ago and missing a forecast of $37 million returned by a Reuters poll.While oil companies like Shell…
No Waiver for Japan on Iran Sanctions
Japan said on Thursday it had not yet been granted a waiver from a U.S. plan to reimpose sanctions aimed at cutting Iran out of international markets, while the top two customers for Iranian oil, China and India, were awaiting word on possible exemptions.The United States has said it is considering waivers on sanctions for countries that are reducing their imports of Iranian oil. The renewed U.S. sanctions on Iran are set to come into effect on Nov. 4."Japan-U.S.
Gaslog Mulls Buybacks, Extra Dividends as Rates Soar
Gaslog, a liquefied natural gas (LNG) carrier, said on Thursday it was considering extra dividends or a share buyback after reporting record profit due to soaring shipping rates, which are expected to remain elevated for the next year or two.The U.S.-listed company is the world's largest independent owner of LNG shipping vessels with long-term charters with Royal Dutch Shell, a major LNG trader, and Cheniere Energy , a new U.S.
BP Completes $10.5-billion BHP Billiton Acquisition
London-based BP Plc BP has completed the $10.5-billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S.
MHI Vestas Signs Tower Contract, Expands in Taiwan
MHI Vestas Offshore Wind, a joint venture of Mitsubishi Heavy Industries and Vestas Wind Systems, signed a conditional contract with CS Wind/Chin Fong the local manufacture of towers…
Tidal Developer Collaboration to Tackle Foundation Mooring
CorPower and Sustainable Marine Energy join forces for a wave and tidal developer collaboration to develop and demonstrate generic foundation mooring solution to…
NZ Harbour Welcomes its Largest Container Ship
The largest Port in the South Island of New Zealand, Lyttelton Port, has welcomed its largest ever container ship.The Singapore–flagged Rio de Janeiro, which can…
Port of Helsinki Launches Separate Company for Ship Services
Finland's main port Port of Helsinki Ltd is preparing for the implementation of the requirements of the EU’s Port Services Regulation by transferring ship services…
Babcock Delivers World's Largest LNG Bunker Supply Vessel
Babcock International is celebrating the completion of its ‘first of its kind’ and the world’s largest liquefied natural gas (LNG) bunker supply vessel, M.V. Kairos…
DP World, NIIF Win Bid at Mumbai's JNPT
Global port operator DP World said its joint venture (JV) with National Investment and Infrastructure Fund (NIIF) has won the bid to build a Free Trade Warehousing…
ONE Drags Down NYK Line Earnings
Container line joint venture Ocean Network Express (ONE) dragged down NYK Line in the first half of 2018 ended September 30 with with Japanese shipping group in…
World’s Biggest Container Ship on Maiden Call at Westports
The world’s biggest container ship, OOCL United Kingdom, made her maiden call at Malaysia's Westports in Port Klang on her way to China.The OOCL United Kingdom, with a carrying capacity of 21…
Kalmar Bags Eurogate Order
Kalmar, part of Cargotec, is to deliver two rubber-tyred gantry cranes (RTGs) to EUROGATE, Europe's leading shipping line-independent container terminal operator, for use in their Tanger S.A.
European Consortium to Convert Coal-Fired Power Plant to Biomass
The European ARBAHEAT consortium will start a research project to investigate the conversion of the ENGIE Ultra-SuperCritical coal-fired Rotterdam power plant into…
