K-Line Guilty of 'cartel conduct'
Japanese shipping firm Kawasaki Kisen Kaisha Ltd (K-Line) was convicted of criminal cartel conduct and ordered to pay a A$34.5 million ($23.50 million) fine by a federal court, Australia's competition regulator said on Friday.K-Line’s fine is the largest ever criminal penalty imposed under the Competition and Consumer Act, according to the Australian Competition and Consumer Commission (ACCC).The company was found to have engaged in a cartel with other shipping companies in order to fix prices o
LNG Traders Mull Shipping Options
Traders are starting to make enquiries to book vessels to store or ship liquefied natural gas (LNG) as they bet for winter demand to boost prices for spot cargoes which are trading near record lows, multiple industry sources said on Friday.Enquiries are trickling in for booking vessels on a spot basis, ranging from a period of one month to several months, which is expected to push shipping rates up…
31 Missing in Indonesian Fishing Boat Sinking
Indonesian rescuers were battling high tides and strong winds on Friday in a search for 31 people missing after a fishing boat sank in waters off Borneo island, killing at least four…
MODEC Unveils New FPSO Designs
Japanese floating production specialist MODEC has developed a pair of next generation new build hull designs for floating production, storage and offloading (FPSO) vessels developed in partnership with Mitsui E&S Shipbuilding, targeting greater production and storage capacity.As a result of increases in required crude oil and gas production capacities, FPSO topsides have become bigger and heavier,…
Seismic Solutions Market to Reach $890mln by 2024
The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5%…
Stork Awarded Evergreen Gig for UK Assets
Fluor Corporation announced that Stork, part of Fluor’s Diversified Services segment, was awarded a contract extension by Centrica Storage Limited to continue providing…
DEME Installs MOG Export Cable
Offshore services provider DEME has completed the installation of a subsea export cable for Belgian grid operator Elia's Modular Offshore Grid (MOG) ahead of schedule.The…
Belfast Opens New Cruise Terminal
Belfast Harbour, the maritime hub in Northern Ireland, said that it has opened the first dedicated cruise terminal on the island of Ireland to cater for Belfast’s…
GasLog Adds New LNGC from SHI
Monaco-based shipowner GasLog has taken delivery of the 180,000-m3 GasLog Warsaw liquefied natural gas carrier (LNGC) from South Korea’s Samsung Heavy Industries…
Chabahar Port Eyes 20% Increase in Cargo
Iran's Chabahar port expects 20% increase in cargo handling operations in the current year.The Director General of the ports and maritime of Sistan and Baluchistan, Behrouz Aghaei, announced the econ
Chinese Port Doubles Direct Connection with Europe
The deep water port on the shore of the Pearl river (aka Zhujiang River), in the Nansha District in the Southern China, Port of Nansha doubled direct connection…
Canada to Save Rapidly-Melting Arctic Ice
Canada’s Arctic warming at three times the global rate, permafrost melting 70 years ahead of predictions, the worst polar wildfire season on record.To counter bad news on northern climate-change…
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