News

USCG Approves Korean BWMS

Korean Register (KR) - an IACS member classification society – announces that it has been accepted by the United States Coast Guard (USCG) as an Independent Laboratory (IL) to undertake tests,

SCI takes Delivery of VLCC "Desh Vibhor"

  The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Oil Carrier (VLCC) on 28th March, 2015. The vessel has been named as m.

Rolls-Royce Acquires R.O.V Technologies Inc

  Rolls-Royce has today announced the acquisition of R.O.V Technologies, Inc., a US-based business primarily providing nuclear utility operators with remote

COSCO China's Piraeus Bid Back on Track

 China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course

India, Japan Reaffirm Strong Maritime Ties

 India and Japan have discussed a specialized 24-nation maritime construct to enable real-time sharing of data of all shipping including merchant and naval warships,

CMA CGM profits up 43%

 French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth

Ship Ownership is a Closely Held Market

 Even though shipping is a global industry, ownership is fairly well concentrated in a relatively small number of major centres, says a research from Clarksons.

Heerema Signs LOI with Jurong Shipyard for Giant Crane Vessel

Dutch offshore contractor Heerema Offshore Services has signed a letter of intent (LOI) with Sembcorp Marine’s Jurong Shipyard in Singapore for the construction

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

Methanol Powered Ferry Launched in Baltic Sea

Swedish ferry operator Stena Line has announced that it has converted the Stena Germanica to run on methanol, an industry first.   The company spent $24 million on converting the ship to methanol.

Vestas: Low Oil Price, No Problem

The oil price drop has not discouraged investment in rival wind power as much as feared, the chairman of Danish Vestas Wind Systems said on Monday. "I thought

U.S. Oil Train Traffic mostly from Midwest to East Coast

U.S. oil trains delivered more than 13.5 million barrels of crude oil from the Midwest to the East Coast in January, according to government data that gives a first

VIKING LifeCraft Presented at IMO

  This week, VIKING Life-Saving Equipment took a step towards gaining approval for the VIKING LifeCraft, its alternative life-saving appliance (LSA) for passenger ships.

MAN Demonstrates Two-Stroke Methanol Engine Concept

MAN Diesel & Turbo successfully demonstrated its ME-LGI concept engine in front of customers and partners at its Diesel Research Center in Copenhagen on March 17th, the company announced today.

GAC Sri Lanka Wins Award

GAC Sri Lanka’s liner arm, McLarens Shipping, has been named “Best Shipping Agent, Customer Service” at the 21st annual Institute of Chartered Shipbrokers (UK) national awards.

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Calecore Enters Into Administration

Norfolk, UK-based offshore site investigation company Calecore has entered into administration, the company announced today.   Joint administrators Matt Howard

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Production Starts at Eni's GoM Hadrian South Field

Italian oil and gas major Eni said on Monday it had started production at its Hadrian South gas field in the Gulf of Mexico. Production from the field is expected

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