Philippines' Duterte Says Would Seek Multilateral S. China Sea Talks
Rodrigo Duterte said on Monday that if he became Philippine president he would call for multilateral talks to resolve disputes over the South China Sea, which should…
Dangers of Neglecting on Board Welding Equipment
Wilhelmsen Ships Service (WSS), who conducts safety inspections of onboard welding equipment and consumables at 26 ports throughout the world, said its findings reveal how a lack of maintenance, respect and care for this essential, yet highly dangerous, technology is putting safety, efficiency and even lives at risk every day. WSS offers inspections at a network of international shipping hubs, including New Orleans, Dubai, Rotterdam, Panama and Shanghai.
Hyundai Heavy Industries Shedding Jobs, 'Non-Core' Assets
South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder by revenue, will slash more jobs and sell non-core assets as part of efforts to cope with shrinking orders…
PSA International Starts VC Arm
Singapore-headquartered port operator PSA International Pte Ltd has set up a corporate venture capital arm, PSA unboXed, with an initial fund size of S$20 million…
Brazil Exports Diesel to Europe
Two tankers ship diesel in rarely used route. Brazil has joined a list of countries exporting diesel to Europe, reversing a traditional route and underscoring a…
IMO Tier III compliant Wärtsilä X72 Engine Passes Test
Winterthur Gas & Diesel (WinGD) and its two-stroke engine manufacturer Hyundai Heavy Industries - Engine & Machinery Division (HHI-EMD) announced the successful testing and delivery of their first IMO Tier III compliant Wärtsilä X72 diesel engine. Built at HHI-EMD’s works in Ulsan Korea, the six-cylinder, Wärtsilä X72 diesel engine employs a compact, pre-turbocharger selective catalytic reduction (SCR) system.
Australia, Thailand host Indo-Pacific Regional Peacekeeping Exercise
Australia and Thailand are co-hosting a peacekeeping exercise involving over 100 participants from the Indo–Pacific region from 9-20 May 2016 in Bangsaen, Thailand.
Philly Shipyard to Pay Dividend
Other information: The USD equivalent of NOK 231,177,204 of the dividend is classified for accounting purposes as a repayment of previous paid in share premium.
Scanty Ordering Bodes Well for Tanker Shipping - Drewry
Newbuilding orders of tanker ships have seen a sharp reduction, but the slowing trend needs to be sustained for the longer-term health of the market, according to…
Total to Acquire Saft Group
Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and…
Wärtsilä Propulsion for First UK Dual-fuel Ships
he first ever UK domestic dual-fuelled new build vessels will feature fully integrated Wärtsilä propulsion machinery packages. Wärtsilä will also supply extended engineering and site support services.
Bibby Offshore Bags Mega North Sea Contract
Bibby Offshore, a leading subsea services provider to the oil and gas industry, has announced a multimillion dollar contract with a global energy player, to provide…
Meyer Turku Back in the Black
After many years with difficulties, Meyer Turku Oy reports positive consolidated earnings again under new Meyer ownership. The audited accounts for 2015 show a profit…
PSA Unveils Incubator Programme for Start-ups
PSA International Pte Ltd today announced the inception of PSA unboXed Pte Ltd (PSA unboXed), its new corporate venture capital arm with an initial fund size of S$20 million.
Two Massive Container Ships Collide
Maersk Line's 292-meter (958-foot) Safmarine Meru and the 318-meter (1,043-foot) Northern Jasper operated by Germany’s Norddeutsche Reederei H. Schuldt GmbH &…
Container Shipping Demand Weakens
The demand for container shipping is really not going anywhere at the moment. Indicators for growth in the first months of 2016 point to limited overall demand and huge variations from trade to trade.
Dry Bulk Shipping: Improved Frieght Rates Despite Continues Fleet Growth
On 10 February 2016, the Baltic Dry Index (BDI) hit 290. At that point, a bulk carrier regardless of its size, age and fuel-efficient qualities earned a time charter average of USD 2…
Tanker Shipping: Signs of Weakness are Appearing, But Still Money to be Made
Supported by slow fleet growth and ongoing positive refinery margins, VLCC earnings in Q1-2016 were up from a year ago, but down from Q4-2015 as we expected at $58…
No Merger for Ailing Korean Shipmakers
The South Korea government plans to drop its forceful measures to push ailing local shipbuilders to merge with each other as mergers or additional cash outlays to Hyundai Heavy Industries (HHI)…
Cosco Sinks into the Red
Singapore-listed ship repair, marine engineering and dry bulk shipping company COSCO Corporation (Singapore) Limited has recorded a net loss of USD 11.7 million in the first quarter of 2016…
