Libya's Oil Output Wanes as Fighting Shuts Ports
Hariga fields still producing but Libya's current output a fraction of pre-2011 levels. Libya is producing 128,000 barrels of oil a day from fields connected to far eastern port of Hariga…
Oil at $60 per Barrel, Libya Fire Supports
Brent on track for biggest annual drop since 2008; stimulus measures from Japan, China lend some support. Brent crude oil rose to $60 per barrel on Monday, supported…
Asia-Europe Box Rates Fall 6.6 pct
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.6 percent to $1.149 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed. It was the second consecutive week of falling freight rates on the world's busiest route. Container freight rates have in 2014 increased in 13 weeks but fallen in 38 weeks.
Storm Shuts Dardanelles Strait to Tankers
Turkey shut its Dardanelles Strait to tankers and its flag carrier cancelled some domestic and international flights in and out of Istanbul due to a storm. The Dardanelles…
Merchant Ships Collide, Six Feared Dead
Two people drowned and four were missing at sea and feared dead after two merchant ships collided in rough seas off the Italian coast on Sunday, Italian officials said.
Egypt Nears Deal for Algerian LNG Imports
Egypt expects to agree a deal to import liquified natural gas from Algeria as early as this week, ministry sources said on Monday, as the country seeks to ease a chronic energy shortage.
Canal Delays Weigh on Panama Growth
Panama on Sunday lowered its 2014 growth expectation to 6.3 percent, down from a previous estimate of around 7 percent. Panama's economy grew 8.4 percent in 2013 but has been cooling as $15 billion of infrastructure projects, mainly for the expansion of the Panama Canal, have winded down. Such public works had helped lift economic growth to one of the highest rates in Latin America in recent years.
Wärtsilä Donates Engine in S. Africa
As part of Wärtsilä’s initiative to support and stimulate the maritime economy in South Africa, the company has donated a Wärtsilä 20 engine to the Nelson Mandela Metropolitan University (NMMU). Part of a long-term sponsoring partnership with NMMU and the South African International Maritime Institute (SAIMI), the engine will be used to facilitate teaching within the University's School of Engineering.
RS to Class Newbuild Arctic Tankers
Russian Maritime Register of Shipping (RS) has signed an agreement with South Korean yard Samsung Heavy Industries Co. LTD for design approval and survey under construction of a new series of 42…
Two Rescued from Grounded Skiff near Alaska
The U.S. Coast Guard rescued a man and woman after their 17-foot skiff ran aground near Sitka, Alaska Saturday. Coast Guard command center personnel at Sector Juneau received a 911 call relayed by the Sitka Fire Department concerning the skiff and its occupants after it grounded near Kanga Bay 10 miles south of Sitka Saturday night. It was reported that both passengers were ejected from the skiff when it struck the shore and the male passenger had suffered injuries to his head and face.
Russian Grain Exports Revive as Informal Curbs Ease
Russian grain exports have picked up again after the decision to impose official export duties reduced the informal curbs that had all but stopped sales abroad,…
First LNG Loaded from QCLNG Project in Australia
BG Group began loading the first cargo of LNG from its Queensland Curtis LNG (QCLNG) facility to the vessel Methane Rita Andrea December 28. The second cargo of LNG from the facility will be loaded onto the Methane Mickie Harper, which is expected in Gladstone in the first week of January. QCLNG is the world's first LNG project to be supplied by coal seam gas. The start of production from the plant's…
Philippines Boosts Maritime Security for Pope's Visit
In anticipation of Pope Francis’ visit to the Philippines January 15-19, the Philippine Coast Guard (PCG ) has created two maritime task forces to secure the maritime terrain where the Pope will hold activities, particularly at the vicinity of the Mall of Asia in Pasay City, Luneta Park in Manila and in Tacloban City. The task force aims to ensure that threats which could possibly be initiated along the coastal waters will be negated.
Update: Eight Dead in Ferry Fire
Rescue teams on Monday completed the evacuation of 427 people from a car ferry that caught fire off Greece's Adriatic coast, working through the night and defying high seas and freezing weather in a 36-hour drama. Eight people were killed in the incident and many others could be missing, prompting Italian authorities to continue an air search of the sea around the vessel while they sought to verify the number of passengers who had been on board.
IMF to Resume Greece Bailout Talks after Election
The International Monetary Fund will resume bailout talks with Greece once a new government is in place after next month's snap general election, IMF spokesman Gerry…
Libyan Oil Output Shrinks as Oil Tanks Blaze
Libya's oil output has shrunk back further after blazing oil tanks at a major terminal helped world oil prices higher and burnt a bigger hole in its dollar currency reserves.
Study: Port of Virginia a Key Economic Driver
The Port of Virginia continues to be a significant economic force in the Commonwealth’s economy, according to an economic impact study conducted by The College of William & Mary. This fall, the port contracted with the college’s Raymond A. Mason School of Business to measure the economic impact the port had on the Commonwealth during fiscal 2013 (July 1, 2012 – June 20, 2013). The results of the 36…
BAE Systems Seeks 710 Apprentices for 2015
BAE Systems in the U.K said it will take on 710 apprentices in 2015, the highest intake in the company’s history. Next year's intake surpasses the record set in the previous year by 142 places and includes 45 places for apprentices who will eventually join companies in BAE Systems' supply chain or work in local engineering companies. The latter are funded under the government's Employer Ownership Program.
BOURBON Continues to Sell Vessels
BOURBON completes vessel sales to ICBC Financial Leasing and Standard Chartered Bank and announces new sale and bareboat charter agreement with Minsheng Financial Leasing Co.
Maritime Reporter @ 75: The Daily Cartoon
Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners, ship and boat builders, naval architects and marine engineers. Today Maritime Reporter heads a group of four print and 10 websites serving the global maritime, offshore and subsea sector.