VesselsValue Warning on Tanker Market
According to VesselsValue, the recent events have resulted in an increasingly pessimistic short term outlook for the Tanker market, after a positive autumn and winter."In short…
KN to Operate LNG Terminal in Brazil
Lithuanian company AB Klaipedos Nafta (KN) has been appointed as the operator of a liquefied natural gas (LNG) terminal in the Brazilian Port of Açu.To execute the contract…
Qatargas Delivers LNG Cargo to Indian Terminal
Doha-based liquefied natural gas (LNG) producer Qatargas has supplied a commissioning LNG cargo for India's newest LNG receiving terminal, Mundra.The cargo was loaded…
Meyer Turku, Aalto University Sign Pact
Finland's Aalto University and the compatriot shipbuilding company Meyer Turku have signed an agreement that will strengthen and develop multidisciplinary research…
Georgian Port of Poti Mulls New Project
The international container terminal operating APM Terminals said that its port of Poti has presented its plans for the creation of a deep-water port to the Government…
Japan Takes Shipbuilding Dispute to WTO
The Japanese government has filed a new petition with the World Trade Organization (WTO) against South Korea concerning alleged aid provided by the Korean government…
Kongsberg Sells Subsidiary Hydroid to HII
Kongsberg Maritime AS has signed an agreement to sell its underwater technology subsidiary company Hydroid, Inc. for $350 million to shipbuilder Huntington Ingalls Industries (HII).
Langh Tech's Scrubbers for Four Gas Tankers
Finnish scrubber manufacturer Langh Tech has delivered its exhaust gas scrubber systems to semi-refrigerated gas tankers managed by the Danish shipping company Ultragas ApS.The cooperation between Langh Tech and Ultragas started in summer 2018 and the deal includes the components for the scrubber system, commissioning, crew training and classification for four identical sister gas tanker vessels.The…
LNG Tanker Diverted from China in Sign of Weaker Demand
A liquefied natural gas (LNG) tanker that had been heading to China has been diverted, data intelligence firm Kpler and two industry sources said on Tuesday, probably due to lower demand for the fuel as businesses are hit by the coronavirus outbreak.The Tangguh Foja tanker loaded a cargo at the Tangguh LNG plant in Indonesia last month and had been heading to China's Rudong terminal in Jiangsu province, Refinitiv shipping data shows.It was diverted towards the South China Sea on Jan.
Vessel Safety: US House Subcommittee Seeks Faster Implementation
In November the U.S. House of Representatives’ Transportation & Infrastructure Committee, Coast Guard and Maritime Transportation Subcommittee held a hearing on “Commercial and Passenger Vessel Safety: Challenges and Opportunities.” Testimony covered a range of issues, from recent tragedies such as the Conception dive-boat disaster to antiquated maritime laws.Hearing witness list:Rear Admiral Richard V.
Baltic Index Down on Virus Fears
The Baltic Exchange's main sea freight index dropped for the 13th consecutive session on Tuesday as waning demand across vessels and the coronavirus outbreak dampened sentiment.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 13 points, or 2.8%, to 453.The capesize index decreased 31 points to a negative 133, a fresh all-time low.Average daily earnings for capesizes…
Loggers, Food Exporters Impacted From China's Virus
The economic impact of China's coronavirus lockdown is being felt across the globe, with exporters, miners and manufacturers of everything from coal and timber to meat and fruit facing delays and potential shipment cancellations.As the most populous nation and factory floor for most of the world's manufactured goods, China is normally the largest and most voracious consumer of a slew of global raw materials…
