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CMA CGM Hires Diana Containerships' Domingo
Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that, through a separate wholly-owned subsidiary…
Asia Tankers-VLCC Rates to Remain Low on Tonnage Glut
Around 90 ships charter free for early September loading. Freight rates for very large crude carriers (VLCCs) on Asian routes will remain under pressure for at least the next month…
Optimarin Demonstrates Total System Reliability
Environmentally friendly and compliant BWT technology company Optimarin gave a demonstration of its long-term system reliability onboard Neptune Subsea’s IMR vessel…
Indian PM Meets All WOmen Crew of Navika Sagar Parikrama
Six women officers of the Indian Navy, who are due to circumnavigate the globe on the sailing vessel, INSV Tarini, called on Prime Minister Narendra Modi. This is…
MTU 4000 Engines to Power Harbor Tugs
Rolls-Royce and Sanmar Shipyards in Turkey have signed a contract for the delivery of eight MTU Series 4000 engines for four new terminal tugs, including an option for a further four engines. The tugs will each be fitted with two 16V 4000 M73L MTU engines, each delivering an output of 2,700 kW (at 1,850 rpm). The MTU brand is part of Rolls-Royce Power Systems. Sanmar and MTU have been working closely together since 2009.
Bumi Armada Bags Additional Contract from Lukoil
Bumi Armada Bhd’s wholly-owned unit, Bumi Armada Caspian LLC, has signed a supplementary agreement worth RM576 million (USD 134 million) with Lukoil-Nizhnevolzhskneft…
Damen Stock Tugs Shipped to Rotterdam
Shipbuilder Damen said its latest transport of newbuild vessels has arrived in the Port of Rotterdam in the Netherlands. The multiple vessel shipment carried on board the SAL Heavy Lift vessel MV Lone comprises various Damen Tugs and one Multi Cat that have been constructed at Damen’s yards in Vietnam. Consisting of two Stan Tugs 2608, three ASD Tugs 2411, four ASD Tugs 2810, two ASD Tugs 3212 and a Multi Cat 1908…
Migrant Rescue Boat Goes to Aid of Anti-migrant Vessel in Mediterranean
A German humanitarian rescue ship said it was heading on Friday to the aid of a vessel run by a group of far-right activists who are at sea to disrupt the work of…
Asia Tankers: VLCC Rates May Have Bottomed
About 20 MidEast VLCC still to be fixed for August. Freight rates for very large crude carriers (VLCCs) on Asian routes may have finally bottomed as owners attempt…
Odfjell Drilling Signs Contract with Aker BP
Odfjell Drilling signed a contract with Aker BP ASA for Deepsea Stavanger (6th generation semi-submersible) for a period of approximately 9 months with commencement…
Vryhof Expands Its Global Footprint
Vryhof, a provider of anchoring and mooring solutions, said it is expanding its global footprint with its companies Deep Sea Mooring (DSM) opening a new office in Aberdeen and Vryhof Anchors appointing Singapore-based Franklin Offshore as its exclusive representative for selling Vryhof solutions in a number of Asia Pacific countries. “In an industry that has seen considerable negativity over the past year…
More Migrants Feared Drowned off Yemen
Some 180 young Ethiopian and Somali migrants, many weakened by hunger and drought in their home countries, were forced from a boat into rough seas off Yemen by smugglers…
SBM Offshore Raises Outlook Buoyed by Deepwater Spending
SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Wednesday citing clients slowly spending more on deepsea projects. "Deepwater is becoming attractive again. It's on a par from an economic standpoint with shale oil," said Chief Executive Bruno Chabas, in reference to a recovery in spending which fell after a sharp drop in oil prices in 2014.
Overtonnage Weighs on VLCC Rates
Freight rates for very large crude carriers (VLCCs) on Asian routes from the Middle East could fall to a new low for the year next week as too many ships chase the number of available cargoes, ship brokers said on Friday. That came as average rates from the Middle East to Asia have fallen close to last year's low. Average rates dropped to around 32.50 on the Worldscale measure on Sept. 23, 2016, equivalent to about 42.75 this year after Worldscale rates were recalculated for 2017.
GasLog Updates LNG Market Outlook
During the quarter ended June 30, 2017, there was continued momentum in the start-up of new LNG liquefaction capacity with the fourth train at Sabine Pass commencing commercial production.
Rescue Boat Seized for Allegedly Aiding Illegal Migration
Italian coastguards seized a migrant rescue boat operated by a German aid group in the Mediterranean due to suspicions it had aided illegal immigration, the police said on Wednesday.
Liebherr Bolsters Its Australia Maritime Business
Liebherr Maritime said it will establish full service, spares and sales activities in Australia, New Zealand and the Oceania region to create better support for maritime customers using factory trained and locally recruited engineers. Additionally, Liebherr representative Morrow Equipment Australia will focus on the purchase and rental of tower cranes in the future. Liebherr has been present in Australia since the early ’70s, leasing its first premises in Kilkenny in 1983.
Caterpillar CFO to Retire in 2018
Caterpillar Inc. will begin its global, external search for a new chief financial officer after it announced that group president and CFO Brad Halverson has elected to retire in early 2018, concluding a career spanning more than three decades with the company. Halverson will continue working into early 2018 and will help ensure a smooth transition for the new CFO. Prior to becoming CFO, Halverson served two years as vice president of the Finance Services Division…
APM Terminals Tangier Celebrates 10 years in Morocco
APM Terminals Tangier welcomed the Munich Maersk, one of the world’s largest container vessels, as it made its maiden call to celebrate the 10th anniversary of the…
Modern VLCC Rates Under Pressure
Rates fall back after climbing earlier in the week. Overcapacity, OPEC cuts, little scrapping, summer lull weigh on market. Owners of modern very large crude carriers…
Maritime Piracy
Houthi Rockets Wreak Havoc on Middle East Container Shipping
Narco-Submarines: The Hidden Depths of Drug Trafficking
Drug Smuggling on Ships and Submarines: An Escalating Threat
Maersk revises profit forecast upwards due to robust demand and disruptions in the Red Sea.
Global Shipping Carriers Are Feeling the Impact of the War in Ukraine and the Middle East
Maritime Piracy in the Horn of Africa:
Houthis Declare All-Out War on Israeli Shipping, Vowing to Strike Beyond Red Sea
Injustice at Sea: Greek Court Drops Charges in Deadly Migrant Shipwreck
