Ship Glut Pressures Mideast Crude Tanker Rates
Crude oil tanker earnings on the major Middle East route remained under pressure on Tuesday as the market struggled to absorb a glut of tankers due to slower business.
Canada Seeks Tightened Marine Oil Spill Plan
Canada moved on Tuesday to strengthen its response plan for oil spills at sea ahead of the development of new pipelines that would sharply increase tanker traffic in Canadian waters if they are built.
Body of Missing Boater Found in Lake Michigan
The search for a missing man in Lake Michigan ended Tuesday afternoon as search crews from the Muskegon County Sheriff’s Office and Michigan State Police located…
Dorian Rings Opening Bell Following NYSE Listing
Dorian LPG Ltd. opened the New York Stock Exchange (NYSE) on Friday, May 9, 2014. The company’s senior management members and directors stood on the NYSE balcony as Dorian CEO, John Hadjipateras rang the bell. The bell ceremony followed the company’s New York Stock Exchange pricing on Wednesday and first day of trading Thursday. Dorian LPG is a liquefied petroleum gas shipping company and an owner and operator of modern VLGCs.
Cruise Ship Data to Assist Ocean Scientists
Celebrity Equinox becomes third Royal Caribbean Cruises Ltd. Last week, as Celebrity Cruises’ Celebrity Equinox completed its scheduled drydock in Cadiz, Spain, it joined Royal Caribbean International’s Allure of the Seas and Explorer of the Seas in a program that tracks ocean circulation dynamics and measures atmospheric and oceanographic conditions, on repeated journeys. According to Royal Caribbean Cruises Ltd.…
RWO Reports Boosted Sales in 2014
RWO GmbH, manufacturer of water treatment plants in the maritime sector, said the Bremen-based company increased orders received in its core business by 32% in the first four months of 2014 compared to the same period last year. The business sector encompasses oil separators, wastewater treatment plants in various sizes, emulsion separators, softeners and other systems for treating water on board.
Burger Boat Delivers Chicago Passenger Vessel
Burger Boat Company announced the delivery of a 98-foot steel passenger vessel to Chicago's First Lady Cruises in Chicago. The vessel, Chicago’s Classic Lady, was designed by Seacraft Design, LLC of Sturgeon Bay, Wisc. Chicago’s Classic Lady departed the Burger shipyard Saturday afternoon, May 10, 2014, on her delivery voyage to the Chicago waterfront, arriving early the next morning. Built by Burger Boat Company of Manitowoc…
Panama Canal Revenues $2.4b Less than Expected
Panama's government will receive $2.4 billion less in revenue from its world famous canal over the next five years than it forecast nearly a decade ago, the country's finance minister said on Tuesday…
Repsol To Sell Argentine Bonds To JP Morgan
Spanish oil major Repsol said on Tuesday it had agreed the sale of Argentine bonds to JP Morgan for $2.01 billion, the company's second sale of Argentine paper to…
White House Says No Issue With Biden's Son - Ukraine Co.
The White House on Tuesday brushed aside questions about whether the involvement of Vice President Joe Biden's son in a Ukrainian natural gas company raised ethical issues at a time when the administration is promoting energy diversity in the country. R. Hunter Biden, a lawyer and a partner in an investment firm, was named this week to the board of directors of Burisma Holdings, a private company that has drilled for natural gas in Ukraine since 2002.
Boskalis Achieves Higher Revenue In Q1 2014
Royal Boskalis Westminster N.V. reported a higher revenue for the first quarter of 2014 compared to the same period last year. This was in line with company expectations. This achievement was the result of Good utilization of the Dredging and Offshore vessels. Adjusted for the acquisition of Dockwise, which was only included in the consolidated figures from the second quarter of 2013, revenue was also higher.
Fastnet Appoints Will Holland as CFO
Fastnet Oil and Gas plc the E&P company focussed on exploration acreage in Africa and the Celtic Sea, announced appointment of Will Holland to the Board of Directors as Chief Financial Officer…
Kongsberg's integrated control and safety system for Teekay's Gina Krog
Kongsberg Maritime Engineering (KME) has signed a contract with Gina Krog LLC, a subsidiary of Teekay Shipping AS, for supply of an Integrated Control and Safety System (ICSS) and Power package to the Gina Krog FSO (Floating Storage and Offloading) unit, to be delivered to the Statoil operated Gina Krog field on the Norwegian continental shelf, North Sea. Teekay recently entered an agreement with Statoil to provide the FSO for the Gina Krog field.
Port of Antwerp scores at Breakbulk Europe 2014
Antwerp is hosting the European edition of the largest breakbulk exhibition in the world for the ninth year in a row. The world’s leading breakbulk players will be meeting in Antwerp Expo from 12 to 14 May, with the main sponsor being the Port of Antwerp. The exhibition gives both global and local breakbulk operators the opportunity to network and catch up with current trends, while also providing a platform to meet the needs of logistics professionals in traditional breakbulk and project cargo.
BP's First quarter interim dividend for 2014 announced
The Directors of BP p.l.c. announced that the interim dividend for the first quarter 2014 would be US$0.0975 per ordinary share (US$0.585 per ADS). This interim dividend is to be paid on 20 June 2014 to shareholders on the share register on 9 May 2014. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative will be…
Simrad Yachting Joins The Billfish Foundation
Simrad, world-leader in the design and manufacturer of marine electronics, announced today that it has joined The Billfish Foundation and is one of their 2014 tagging program sponsors. The Foundation has developed the world’s largest private billfish-tagging database as a result of its Tag and Release Program. Simrad Yachting’s partnership will help the Foundation advance this cornerstone sustainability and advocacy program…
BOEM and New Jersey Pact to Identify Sand Resources
As a part of President Obama's continuing commitment to help coastal communities recover from Hurricane Sandy and promote resilient coastal systems, the Bureau of Ocean Energy Management (BOEM) and the State of New Jersey signed a two-year cooperative agreement totaling $400,000 to identify sand resources for coastal resilience and restoration planning. The agreement will help BOEM and New Jersey conduct research that will help coastal communities recover from Hurricane Sandy…
Evergreen Name Fifth New Containership
Evergreen Goup say that their newbuild 'Ever Lissome', the fifth of its L-type containerships to be built by CSBC Corporation in Taiwan, has been named in a recent shipyard ceremony. The ceremony took place at China Shipbuilding Company's Kaohsiung shipyard and was officiated by Raymond Lin, Evergreen Group's Vice Group Chairman. The official rope-cutting of the new 8,508 TEU vessel was performed by Mrs. Aphinya Changariyavong, the wife of EvergreenShipping Agency (Thailand). Chairman Mr.
AAPA Applauds Senate's MAP-21 Freight Focus Bill
The American Association of Port Authorities (AAPA) says it praises the leadership of the U.S. Senate’s Environment and Public Works (EPW) Committee for releasing the six-year MAP-21 Reauthorization Act (S. 2322) that puts a high priority on freight movement investments. “We commend Senator Barbara Boxer (D-CA and Chairman of the Environment and Public Works Committee), Senator David Vitter (R-LA and Ranking Member of the Committee)…
Coast Guard Cutter Gets a Lift Ashore in Cleveland
The U.S. Coast Guard Cutter 'Biscayne Bay', a 140-foot ice-breaking tug homeported in St. Ignace, Mich., was lifted out of Lake Erie for routine maintenance in the Great Lakes Shipyard in Cleveland. The Coast Guard explains that the Biscayne Bay was lifted from the water by a 770-ton 'Travelift.