Hapag-Lloyd Delays Recovery Hopes
German container shipping line Hapag-Lloyd reported a higher net profit and operating result in the first quarter of 2018 on Monday, citing better transport volumes, but said earnings improvements would mostly be made in the second half."We have had a solid start into the current year, but the market environment is challenging," Chief Executive Rolf Habben Jansen said."Freight rates have been under pressureā¦
Britain Awards $3.3 Bln in Submarine Work to BAE Systems
Britain on Monday awarded defence firm BAE Systems 2.4 billion pounds ($3.26 billion) to work on two submarine programmes, the company said in a statement.The Ministry of Defence gave BAE a 1.5 billion pound contract for delivery of the seventh Astute class submarine, and a further 900 million pounds for the next phase of the Dreadnought submarine program, the company said.($1 = 0.7364 pounds)(Reporting by Alistair Smout; editing by Kate Holton)
OOCL Bags Outstanding Green Leadership Award
Orient Overseas Container Line (OOCL) has received the 2017 Hong Kong Awards for Environmental Excellence (HKAEE) Gold Award in the Transport and Logistics Sectorā¦
TOTE Delays Midnight Sunās LNG Conversion
TOTE Maritime Alaska has adjusted its liquefied natural gas (LNG) conversion schedule, pushing back works on its RoRo vessel Midnight Sun by one year in order toā¦
Reach Subsea Bags Statoil Contract
Norway-based Reach Subsea has been awarded a Frame Agreement for Inspection, Maintenance and Repair (IMR) services to Statoil Petroleum.The frame agreement has a duration of five yearsā¦
Seabourn Ovation Christened in Malta
Carnival Corporation's luxury cruise brand Seabourn introduced its newest vessel with a naming ceremony for Seabourn Ovation in the harbor of Valletta, Malta.Seabournā¦
Stronger Capesize Rates Lift Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged higher on Monday on firmer demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up four points, or 0.3 percent, at 1,476 points.The capesize index gained five points, or 0.2 percent, at 2,635 points, its highest since Jan.
China's First Home-built Aircraft Carrier Begins Sea Trials
Chinaās first domestically built aircraft carrier headed out for sea trials on May 13, Chinese state media reported. The report said that the new aircraft carrierā¦
Renewed Optimism is Exploration
Renewed optimism is the theme for exploration in 2018, driven by higher oil prices and improving exploration performance. The cost of exploring has fallen more thanā¦
Skuld Launches Membersā Performance Bonus
Norway-based international marine insurance company Skuld announced a positive bottom line result of USD 58 million (USD 51 million in 2016 before members' credit)ā¦
Shell, Total to Develop Gas Project in Oman
Total has signed a Memorandum of Understanding (MoU) with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstream and downstream businesses.
V.Group Appoints Junshan Zou as Managing Director for China
The global provider of maritime services V.Group has appointed Junshan Zou to build, lead and drive V.Groupās activities in China, including business development, ship management and marine services.
ADNOC to Run Ruwais Container Terminal
ADNOC Logistics and Services, the shipping and services arm of the Abu Dhabi National Oil Company (ADNOC), has signed a contract with Borouge, a leading provider of value creating plastics solutionsā¦
Kongsberg Norcontrol Pact with Norwegian Coastal Administration
Kongsberg Norcontrol has signed a framework agreement with the Norwegian Coastal Administration for delivery, operations and maintenance of radars to the maritime traffic service.
Yang Ming Marine Transport Corporation Reports Higher Revenue
Yang Ming Marine Transport Corporation said that the consolidated revenues of Q1 totaled NTD 31.03 billion (USD 1.07 billion), up 2.58% compared with NTD 30.25 billionā¦
Jeddah Mulls Safe and Secure Regional Waters
Signatory States to an agreement aimed at repressing piracy, armed robbery and illicit maritime activity in the western Indian Ocean and the Gulf of Aden Area haveā¦
India Seeks Banks Financial Support for Inland Water Transport
The Inland Waterways Authority of India (IWAI) will involve banks for ensuring availability of financing options for the private players engaged in Inland Water Transport (IWT) sector.
Shell Gets Mexico LNG Supply Tender
Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources. State-run utility CFE heldā¦
Explosion Damages Bulker en Route to Yemen
An explosion has damaged a Turkish vessel carrying wheat to Yemen's Houthi-controlled port of Saleef, with varying accounts attributing the incident on Thursdayā¦
GE Powers New Italian Frigate
Federico Martinengo, the seventh multipurpose FREMM frigate recently delivered to the Italian Navy by shipyard Fincantieri, like all 10 ships in the new Carlos Bergamini-class FREMM frigate program, features the power dense GE LM2500+G4 gas turbine in a COmbined Diesel eLectric And Gas turbine (CODLAG) propulsion system.In 2013, Fincantieri delivered the first Italian FREMM, Carlo Bergamini. In addition to the Italian FREMM frigatesā¦
