Damen Inks MOU with Pearlson Shiplift Corporation
The Damen Shipyards Group and Pearlson Shiplift Corporation have signed a Memorandum of Understanding (MOU) for close cooperation between the two companies in the design and execution of shiplift projects around the world. The collaboration is set to bring benefits to the clients of both companies in the optimization of the design and realization of shipyard facilities. Taking account of the expertise…
Drewry Launches e-Sourcing Solution
Drewry, an independent research and consulting firm to the shipping sector, has launched a new e-Sourcing solution for global ocean transport exporters and importers.
Asia Tankers-VLCC Rates Slide
VLCC rates fall $10,000 in a week on dearth of cargo; demand fundamentals still appear favourable - Teekay CEO. Freight rates in Asian trades for very large crude carriers (VLCCs) are likely to slide further next week as charterers drip feed fixtures to dampen freight rates, ship brokers said on Friday. "I rather think charterers will play the same game as they have the last couple of weeks - fixing older tonnage and limiting cargoes as they try to squeeze freight rates…
Oil Set for Weekly Rise on Gasoline Demand
Traders shut short positions ahead of Brent expiry. Crude oil prices reversed early losses on Friday, with Brent on track for its first weekly gain in a month, as strong U.S.
Baltic Exchange Mulls Sale
Baltic says holding discussions with several parties. The Baltic Exchange confirmed on Friday it had received a number of "exploratory approaches" after the Singapore…
Australian Icebreaker Refloated in Antarctica
Australian icebreaker Aurora Australis was refloated on Friday, two days after running aground in Antarctica while on a mission to resupply the Mawson Station, Australian Broadcasting Corp reported.
China Adopts Deep Sea Exploration Law
China on Friday adopted a new law on deep sea exploration, state media said, the country's latest move to cement its status as a seagoing power. President Xi Jinping…
Dorian Delivers Caravelle Sells Grendon
Dorian LPG Ltd. reported today that it took delivery of the ECO VLGC Caravelle from Hyundai Samho Heavy Industries. The Caravelle is Dorian LPG's 19th and final scheduled newbuilding delivery. The Caravelle will trade in the Helios LPG Pool. In addition, Dorian LPG announced that it recently completed the sale of the Grendon, its 5,000 cubic meter pressurized gas carrier, to unrelated Asian interests.
Liverpool Industry Inspires GenNex Mariners
Major global independent common carrier, X-Press Feeders and Bibby Ship Management have put training at the forefront of their investment into the next generation of highly trained and capable crew, by enrolling a group of young aspiring seafarers onto their Trainee Engineering Officer and Trainee Deck Office programmes. The four cadets – Luke Jakes, Conrad Dempsey, Claire Allan and Jonathan Jones – have just started their three-year Officer Cadet training and…
Carteret County Declared Coast Guard Community
The Coast Guard declared Carteret County an official Coast Guard Community Thursday during a ceremony at Crystal Coast Civic Center in Morehead City. Rear Adm. Stephen Metruck, 5th District commander, presented Robin Comer, Carteret County Commissioner, with an official proclamation before a crowd at the ceremony, after a luncheon with community members, leaders, volunteers and service members. “Thank you for being our friends…
Kalmar's hackathon "CargoHack" in Finland
Kalmar, part of Cargotec, will organise its first hackathon "CargoHack", at its Technology and Competence Centre in Tampere, Finland on 8-10 April 2016. The event will be organised in collaboration with Tieto Corporation and supported by their well-thought-out hackathon concept "CXHack". The event will bring together upcoming, brilliant and agile tech minds, supported by the Kalmar experts, to help solve some of the most challenging issues that terminals are facing today.
MOL to Open New Business units
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Juinchiro Ikeda) today announced plans to establish two new business units — the Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions — effective April 1, 2016. The restructuring will not affect the company’s disclosure of financial results by segment. 1. MOL will restructure the dry bulk business…
Bahri Buys 5 Tankers for $166 Mln
The National Shipping Company of Saudi Arabia (Bahri) announces that The National Chemical Carriers (subsidiary 80% owned by Bahri) signed on Wednesday 24th February 2016 MoA to purchase five (5) second hand MRs ships built in 2014 at Hyundai Mipo Dockyard in South Korea from Scorpio Tankers Inc. at a total Purchase Price of One Hundred Sixty Six million and Five Hundred Thousand Dollars (US$166,500,000). The five (5) ships will be delivered to NCC between 1st February and 30th June 2016.
Cyprus Picks Consortiums to Run Limassol Port
Cyprus has announced the names of successful bidders who will undertake three sectors of operations at the eastern Mediterranean island's primary port of Limassol. The first – comprising Germany’s logistics company EuroGate International, Cyprus’s Interorient Navigation Company and East Med Holdings, based in Luxembourg – will run the port’s container terminal. DP World Limited (majority participant)…
CMA CGM Modifies its Midas and Swahili Services
CMA CGM has announced the strengthening of its current MIDAS service by cooperating with PIL under a new Vessel Sharing Agreement. A fleet of 11 vessels of 3,500 TEU nominal capacity will be deployed, and CMA CGM will contribute to the majority with 9 vessels. It also announced the strengthening of its coverage of India on its SWAHILI EXPRESS service deployed on the India Middle East Gulf - Eastern Africa and Indian Ocean route.
Bronka to be Gateway to Moscow
Bronka Container Terminal is the biggest in the Baltic Sea, and has already accepted a call from CMA CGM, and is due another from the French liner in March of this year. According to a report in Reuters, the new deepwater port in Saint Petersburg aims to become Russia's major hub for cargo and container shipping, despite an industry slump and the impact of Western sanctions on the country. The new…
Seadrill’s Posts Strong Q4 Results
Rig company Seadrill, once the crown jewel in the business empire of shipping tycoon John Fredriksen, said the final quarter of 2015 was the year’s strongest in operational terms, but warned that 2016 would be tough and said it was working to strengthen its finances. Net income rose 82 percent to $285 million in the fourth quarter, beating the $238 million average estimate in a Bloomberg survey. “During the fourth quarter we experienced our best operational quarter of the year…
Hapag-Lloyd Enhanced West Africa Express Service
Hapag-Lloyd will restructure and further enhance the dedicated West Africa Service Network, the company said in its press release. Effective mid of March 2016, existing weekly West Africa Express Service (WAX) will be upgraded by deploying an additional vessel, which will enable us to extend port coverage in the existing product. With the restructured service, Hapag-Lloyd will have a direct Apapa call on the southbound leg…
China's Warships to Join US-Hosted Naval Drills
China has confirmed it will send warships to join a major US-hosted naval drill this summer, even as tension between the world’s two largest economies mounts over the South China Sea, reports Reuters. The Naval exercise Rimpac (Rim of the Pacific ) is the world's largest international maritime drill, held every two years in Hawaii in June and July. The U.S. and its allies have expressed growing concern over the Asian giant’s military buildup…
Malta Flag Reaches Record Tonnage in 2015
Transport Malta, the Authority responsible for the Malta Ship Register, through its Merchant Shipping Directorate, reports a strong and positive performance for 2015. The Maltese Register of Shipping saw an increase of almost 8.3 million gross tonnage in 2015, representing a growth rate of 14.3 percent compared to the year before, Transport Malta said. The registered gross tonnage under the Merchant Shipping Act was 66.2 million gross tons, as of December 2015.