Global LNG Prices Hold Steady in Weak Trade
Asian spot liquefied natural gas (LNG) prices were little changed on Friday as mild demand and the extended holiday period kept a lid on trading activity. The spot…
UN: Asia-Pacific Better Prepared 10 Years after Tsunami
Ten years after the Indian Ocean tsunami hit South and Southeast Asia, countries in the region are better prepared to deal with tragedies, the United Nations Food and Agriculture Organization (FAO) said today, while stressing that there is still room for improvement. “A decade later, while events marking the remembrance of the tsunami recall the human tragedy, FAO examines the lessons learned in mitigating damage to agricultural livelihoods…
Nine Missing From Sunken Cargo Ship in Batangas
Philippines Coast Guard search and rescue teams are searching for nine missing crewmembers from the cargo vessel M/V Sea Merchant which sunk approximately five nautical…
Thermoplastic for Wear Plate Applications
Water, dirt and salt play havoc with mated surfaces. Engineered to perform in harsh outdoor environments, Vesconite and Vesconite Hilube are suited for use as wear plates. According to its manufacturer, Vesconite is an internally-lubricated polymer that excels in dirty and high-friction applications. Unlike nylon, it has high dimensional stability and does not swell or soften when immersed in water or other fluids. It has high load-bearing qualities.
Shipdock Yards Adopt Damen Names
On January 1, 2015, Shipdock Amsterdam and Shipdock Harlingen changed names to Damen Shiprepair Amsterdam (DSA) and Damen Shiprepair Harlingen (DSH) respectively. During the last two years, both yards have successfully integrated into Damen Shiprepair & Conversion (DSC), itself part of the Damen Shipyards Group. For example, the close collaboration between DSH and Damen Shipyards Den Helder (DSDH) strongly highlights how customers benefit from the network of yards.
Diana Charters Bulk Carier to RWE
Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with RWE Supply & Trading GmbH, Essen, Germany, for one of its Capesize dry bulk vessels…
MPA: Collision, Oil Spill off Singapore
An oil tanker and a bulk carrier collided off Singapore on Friday causing some crude oil spillage, the Maritime Port Authority said. A Libyan-registered oil tanker…
Asia-Europe Box Rates Fall 5.6 pct
Freight rates for container shipping from Asia to Northern Europe fell by 5.6 percent in the Monday through Wednesday period compared with last week, to $1,085 per 20-foot container (TEU), data showed on Friday. Rates on the route, which is the world's busiest for container shipping, were thereby 28 percent lower than at the same time in 2013. From Asia to ports in the Mediterranean, container freight rates fell 4.8 percent from last week, the Shanghai Containerized Freight Index showed.
Stricken, Burned Out Ferry Towed to Italy
11 confirmed dead, confusion remains over number of missing; investigators fear they will find bodies on board. Tug boats hauled the burnt-out hulk of the ferry…
Italy Rescues Another Abandoned Migrant Ship
As many as 450, including women and children, on board. Ship being taken to Italian port. A ship carrying hundreds of migrants has been abandoned by its crew in…
Expiry of Tendrara Option Agreement
Following the announcement of 10 December 2014, the board of Fastnet has elected not to exercise the option to farm into the Tendrara Lakbir Licence onshore Morocco. The option expired on 31 December 2014. "Current market conditions have severely hindered our ability to attract a partner to join Fastnet in the Tendrara opportunity, thus the Board has elected not to exercise the Tendrara Option Agreement. Fastnet has a strong cash balance sheet with over US$18 million in cash.
EEU Starts Functioning
The Eurasian Economic Union (EEU) officially starts functioning on January 1. The EEU unites Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. The new economic union envisages free flow of capital, goods services, and workforce on a common market including over 170 million people, according to reports of the Bulgarian National Radio. The union operates through supranational and intergovernmental institutions.
HMAS Launceston Assists Ill Mariner
HMAS Launceston assisted in the medical evacuation of a critically ill Chinese mariner from a Chinese fishing vessel, 80 nautical miles south-east of Christmas Island in the Indian Ocean on the afternoon of 1 January, 2015. The request for Launceston’s assistance came from the Australian Maritime Safety Authority, and the patrol boat embarked a civilian medical officer prior to departing. The Chinese mariner was embarked in HMAS Launceston at sea along with an escorting crewmember.
USCG Assist Fishing Vessel near Gloucester
Coast Guard crews assisted a disabled fishing vessel 35 miles east of Gloucester, Massachusetts, on Thursday. At about 4 p.m., Wednesday, the three person crew of the fishing vessel Kristin and Michael notified watchstanders at Coast Guard Sector Boston that their vessel was experiencing engine problems and they had become disabled. Coast Guard Cutter Escanaba was diverted to the scene and took the Kristen and Michael in tow.
GAC Norway Joins 2014 Gaselle List
GAC Norway AS has been added to the 2014 Gaselle List, a nationally-recognised catalogue of Norwegian businesses that have proven sound finances and sustained growth over a number of years. Only about 5% of the businesses that qualify in terms of annual turnover meet the other requirements for inclusion in the list.
Seawall Reinstatement at Royal Hong Kong Yacht Club
(A) 22 deg. 17.034'N / 114 deg. (B) 22 deg. 17.033'N / 114 deg. (C) 22 deg. 16.995'N / 114 deg. (D) 22 deg. 16.997'N / 114 deg. The works will be carried out by…
Wärtsilä Engines for Cutter Dredgers
One of the world's largest non self-propelled cutter dredger vessels, which is also one of the largest of all cutter dredgers in the world with 5200 kW of cutter power, will feature Wärtsilä engines, both to generate power and to drive the dredging pump. The ship has been designed by the Design & Research Institute of Ship and Ocean Engineering at Shanghai Jiaotong University, and is being built for Jiangsu Haihong Construction Engineering Co. at the company's yard in China.
WTO is 20
20 years ago, on 1 January 1995, the WTO opened its doors for business. Since then this organization, and the system of transparent, multilaterally-agreed rules that it embodies, has made a major contribution to the strength and stability of the global economy. Over the years the WTO has helped to boost trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system.