PanOcean Signs USD 1.8bln Deal with Brazil's Vale, Orders Six VLOCs
South Korean shipper Pan Ocean has won a 1.98 trillion won ($1.82 billion) contract to transport iron ore over a period of 27 years for Brazilian mining giant Vale, Reuters reported.
Hapag-Lloyd Completes Integration with UASC
Hapag-Lloyd successfully completed the integration of UASC into the Group on 30 November 2017. At a gathering of the shipping company’s global management in Hamburg…
Maersk Completes Hamburg Süd Acquisition
The transaction between Oetker Group and Maersk Line for Maersk Line's acquisition of Hamburg Süd, the German container line, was closed on 30 November 2017. On 1 December 2016…
Cosco, PSA Launch New Berth in Singapore
China's Cosco Shipping Ports (CSP) is launching a new berth at its joint venture container terminal - Cosco PSA Terminal (CPT) - with PSA Corporation in Singapore.
CMA CGM Merges Multimodal Subsidiaries
The CMA CGM Group announced it will merge its subsidiaries MacAndrews and OPDR effective January 1, 2018., in line with the Group’s strategy to develop its intra…
LNG Shipping on Recovery Path: Golar
The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving.
MOL Succeeds in 'Visualization at Sea'
Mitsui O.S.K. Lines (MOL) has announced a joint success with Japan Radio and JSAT MOBILE Communications in building a network that shares data recorded in Voyage…
All-Women Crew Tarini Enters Lyttelton
India's INSV Tarini entered Lyttelton port (New Zealand) on 29 Nov 2017, during it’s maiden voyage to circumnavigate the globe. This is the first-ever Indian circumnavigation…
BIMCO, WFP Issue Modernized Charter Party
BIMCO has together with the UN World Food Programme (WFP), updated and modernised the WORLDFOOD voyage charter party used by the UN organisation to transport food to emergency areas around the world.
Rising US LNG Exports Boost Interest in Natgas Futures
A surge in speculative interest in the U.S. liquefied natural gas (LNG) export boom has pushed open interest in natural gas futures to an all-time high, traders said on Thursday. Open interest, which measures the number of contracts outstanding, in the Henry Hub front-month hit 386,826 on the New York Mercantile Exchange on Wednesday, topping the previous high of 366,383 set in May 2016, according to Reuters data going back to 1990.
Resolve Grows Client Services Team
Resolve Marine Group has strengthened its senior team with the appointments of Lindsay Malen-Habib as Manager of Client Services and Dimos Iliopoulos as its Representative in Greece. Both will report to Resolve’s Director of Client Services, Daniel Dettor. Malen–Habib has 15 years’ experience in maritime emergency response, business development and marketing and will be based in Resolve’s head office in Fort Lauderdale, Fla.
First Class Approved 3D Printed Ship’s Propeller Unveiled
The world’s first Class approved 3D printed ship’s propeller, the WAAMpeller, has been unveiled following rigorous testing verified by Bureau Veritas at Damen Shipyard Group’s headquarters in the Netherlands. The groundbreaking propeller is the result of collaboration between RAMLAB, Promarin, Autodesk, Bureau Veritas and Damen, who started pooling collective resources and knowledge to develop the world’s first 3D printed ship’s propeller seven months ago.
ABS: New Guidance on Energy Storage
ABS has published The ABS Guide for Use of Supercapacitors in the Marine and Offshore Industries (Supercapacitor Guide) to support safe application of hybrid power…
First Oil and Contract Start-up for Libra FPSO
Teekay Offshore Partners L.P. announced that its jointly owned floating production storage and offloading (FPSO) unit, the FPSO Pioneiro de Libra (Libra), has achieved first oil and commenced its 12-year charter contract with a group of international oil companies, including Petrobras, Total, Shell, CNPC and CNOOC Limited, on the Libra oil field where it will perform early well tests. The Libra FPSO unit is the first unit to produce oil on the giant Libra block…
Capesize Rates to Climb in a 'Market on Fire'
Freight rates for large dry cargo ships on key Asian routes, which hit three-year highs this week, are likely to rise further on a shortage of ships available for immediate charter, brokers said. Rates for 180,000 deadweight tonne (DWT) capesize ships are set to break $10 a tonne from Australia to China in the next few days, while rates could also surpass $20 a tonne from Brazil to China. "There are…
Damen Shipyards Delivers Vessel to MC2
Damen Shipyards Group has delivered its first vessels to Marine Core & Charter LLC (MC2), a marine services company supporting the offshore energy sector in the Arabian Gulf.
Cosco Overtakes Maersk as Top Box Shipper
The Chinese container shipping company Cosco exceeded Maersk Line as the shipping company handling the most containers in the third quarter, Reuters reported quoting…
Yinson to Take Over Layang FPSO from THHE
Malaysia’s Yinson Energy Sdn Bhd plans to take over the Layang floating production storage and offloading (FPSO) project from TH Heavy Engineering Bhd (THHE) Edge Markets reported.
COSCO Delivers Second Stingray to Maersk
China’s COSCO (Dalian) Shipyard has delivered the subsea support vessel “Maersk Involver” to offshore marine contractor Maersk Supply Service (MSS). The 9,785 dwt…
Australian Destroyer Enters Sea Trials
The second Hobart class destroyer, NUSHIP Brisbane, has commenced her first phase of sea trials, which will test the ship’s hull, propulsion and navigation systems.