Singapore's Offshore Industry Recovering
A big drag on Singapore's growth in recent years, the embattled offshore and marine industry, has broken a three-year losing streak. Yet industry executives aren't betting on a return to the glory days anytime soon.The industry, along with a top-class finance sector, has been a key pillar of Singapore's economic transformation into a first world economy since independence from British colonial rule in 1965 and a source of national pride.
Diamond Offshore Posts Smaller-than-expected Loss
Diamond Offshore Drilling Inc posted a smaller-than-expected loss on Monday, as a fall in revenue was offset by a 15 percent drop in costs.The Houston-based company's…
Bureau Veritas Issues New FSRU Guidelines
Bureau Veritas has issued new and updated notations and guidance to support the construction and operation of both Floating Storage and Regasification Units (FSRUs) and Floating Storage Units (FSUs).Interest in FSRUs and FSUs is growing as floating gas terminals offer operational flexibility, reduced timescales, from concept to operation, and cost effectiveness in comparison with onshore terminals.
Damen Lays Keel for 77-meter Expedition Yacht
On July 27 DAMEN SeaXplorer marked a milestone in the construction of the SeaXplorer 77 expedition yacht at a keel laying ceremony at Damen Shipyards Galati on the banks of the Danube. The owner attended the ceremony and welded the traditional coin on the keel. Following the hull building phase, the 77-meter luxury expedition yacht (253 ft) will arrive at Damen’s Vlissingen East yard in the Netherlands…
Baltic Index Rises on Firmer Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, boosted by stronger demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 27 points, or 1.6 percent, at 1,703 points.The capesize index gained 83 points, or 2.6 percent, at 3,280 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal,
Container-Shipping Firms Focus on Asset Optimisation
Asset quality, size and diversification will determine the success of shipping companies in the next 18 months as higher costs, tighter environmental rules and worsening…
Container Shippers Opt For Waterway Transport At Dunkirk
After starting a new waterway container service between Dunkirk and Valenciennes in May this year, Nord Ports Shuttle (NPS) is gearing up for a significant increase…
Port of Corpus Christi Raises USD 216mln for Ship Channel Expansion
Port of Corpus Christi successfully priced and sold $216.2 million of Senior Lien Revenue Bonds. These bonds will be used for both the deepening and widening of…
Port of Amsterdam: Adjustment Lock Passage Regime in IJmuiden
Because of the ongoing period of drought, and on the advice of the National Water Coordination Committee, the Directorate-General for Public Works and Water Management…
Da Nang Upgrades Tien Sa Port
Da Nang Port Joint Stock Company (DNPJSC) has started the second stage of Tien Sa port after two years of construction, bringing its total capacity to 12 million…
Shanghai NYK-ANJI Logistics Begins Operations
Shanghai NYK-ANJI Logistics - a joint venture operated by Nippon Yusen Kabushiki Kaisha (NYK), Yusen Logistics and ANJI Automotive Logistics (ANJI) - has begun service…
Novatek Spuds First Well at North-Obskiy
PAO Novatek announced that its subsidiary OOO Arctic LNG 3 commenced drilling of the first well at the North-Obskiy license area located in the shallow waters of…
BC Ferries to Build Five New Vessels
Canadian ferry owner and operator BC Ferries has issued Requests for Expressions of Interest (RFEOI) for the procurement of five new vessels to replace its aging…
Korea Ocean Business Corporation to Support 10 Shipping Companies
The state-run Korea Ocean Business Corporation (KOBC) said it will offer support to 10 small and medium shipping lines as part of its effort to revive the country's…
Pacific Basin Shipping Back in the Black
The Hong Kong-based maritime transport company Pacific Basin Shipping, has announced unaudited interim net profit of US$30.8 million (HK$241.74 million), compared…
Wison Bags FEED Contract for FLNG Project from Western LNG
Wison Offshore & Marine and Western LNG signed a technical service agreement (TSA) for the new floating liquefied natural gas (LNG) project that Western is developing in British Columbia…
Baker Technology Buys Stake in CH Offshore
Oil and gas equipment supplier Baker Technology on Thursday made a mandatory unconditional cash offer for all the shares in CH Offshore, a vessel chartering firm."BT Investment (BTI)…
GTT Revenue Grows Thanks to Strong LNG Market
French liquefied natural gas containment system specialist Gaztransport & Technigaz (GTT), on the back of liquefied natural gas (LNG) market growth, reported 12%…
Quadrise Fuels Signs MoU with Freepoint Commodities
Fuel oil technology firm Quadrise Fuels International said it had signed a non-binding memorandum of understanding with commodities trader Freepoint Commodities…
Evergas Rolls-out Largest Ethane Carrier in the World
Evergas announced that the first 85.000cbm very large ethane carrier (VLEC) was successfully undocked in China and will be delivered in the first quarter of 2019.Following…
