Latest Maritime News

Asia-N.Europe Box Freight Rates Soar 37 pct

Freight rates for shipping containers from ports in Asia to Northern Europe jumped 37 percent to $720 per 20-foot container (TEU) in the week ending on Friday,

Strike Idles 38 Oil Tankers at Fos-Lavera

Some 38 oil tankers have been held up at the Fos-Lavera oil port in southern France, the country's biggest, including 25 at harbour, up from 12 the previous day,

Oil Prices Ease from Seven-Month Highs

Analysts see oil prices in a $40-$50 range; supply disruptions slowly helping to clear oil glut. Oil futures fell below $49 on Friday, moving further away from a seven-month high hit a day earlier,

Saudi Aramco Discovering More Oil, Continues CapEx

Saudi Arabia's state oil giant Aramco discovered new oil and gas fields last year and the kingdom is committed to continue investing in its energy sector to meet future demand,

Strike Extended until Monday at Le Havre

French CGT union members at the CIM, an oil storage and supply services company which handles about 40 percent of French crude imports, have voted to extend their

USCG Tows Disabled Fishing Boat to Portland, Maine

The crew of the Coast Guard Cutter Marcus Hanna towed the 55-foot fishing boat Miss Emily, with four people aboard, after it became disabled Thursday about five miles off Kennebunkport, Maine.

Fednav Celebrates 50th Anniversary

Shortly after the inauguration of the Saint Lawrence Seaway in 1959, and the growth of grain exports that followed, Fednav realized that incoming steel products

Maersk Drilling Acquires Newbuild Jackup from Hercules

Maersk Drilling has entered into a definitive agreement to acquire the newbuild harsh environment jack-up rig, formerly named Hercules Highlander, from a subsidiary

Wärtsilä Donates Engine to Texas A&M University

Wärtsilä has donated an 8-cylinder Wärtsilä 20 engine and generating set, to the Marine Engineering Technology Department at Texas A&M University at Galveston.

Start of Fleet Week New York 2016

The U.S. Navy, Marine Corps, Coast Guard, and the proud citizens of New York helped usher in Fleet Week New York (FWNY) 2016 with the Parade of Ships, May 25. Four Navy ships,

BIMCO: BDI Conducts the Demolition Activity

The Baltic Dry Index (BDI) ’s positive effect on capacity being removed from the fleet did not continue into Q2 2016, as capesize demolition came to a halt. The

IACS Recommendations for Emergency Response

Following a further round of discussions on 'Places of Refuge' at the IMO last week, prompted by a submission from the EU Member States, the European Commission,

Höegh LNG Turns to Profit in 1Q

Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015.

P&I Club warns on Enclosed Space Entry and Testing procedures

The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk

OOCL Renews VOD Training Contract

 Videotel, producer and distributor of training videos, 3D animation, and e-Learning courses to the maritime market and part of KVH Industries, Inc., (Nasdaq: KVHI),

Fitch Warning on NordLB Shipping Reduction Plan

 Norddeutsche Landesbank Girozentrale's (NORD/LB) strategy to reduce its shipping exposures by EUR4bn-6bn over the next three years makes sense, but will likely encounter high execution risks,

VOS Sugar First Charter

 The newest addition to Vroon’s fleet, subsea-support vessel (SSV) VOS Sugar, recently started work in the BARD Offshore 1 Offshore Wind Farm (OWF). The vessel

Hanjin Vessel Seized in South Africa

 Hanjin Shipping-operated bulker Hanjin Paradip has been arrested by a South Africa for alleged unpaid charter fees.    The 82,158 dwt bulker, which has been used to transport grain and minerals,

Siem Renews Contract for Seven Reefers

 Norwegian liner Siem Shipping Inc. has won a one-year contract renewal for a regular weekly service from Ecuador to St. Petersburg, Russia. The contract extension

China COSCO Moving to Offshore Winds

 China COSCO Shipping, which uses bulk carriers and container vessels to transport goods, has seen its cargo business decline amid China's slowdown and has decided

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