Maritime Industry Top News
Eni Extends Algeria Gas Contract
Italian multinational oil and gas company Eni announced that it had signed agreements with Algerian state-owned Sonatrach to extend its gas supply pact.The agreement…
Oceanco Acquires Heerema Facility
Dutch superyacht builder Oceanco has acquired the premises of Heerema Zwijndrecht as part of the company's long-term initiative for growth, expansion, and consolidation…
Norway Hits GCL with Sulfur Fine
The Norwegian Maritime Authority (NMA) has fined Greek cruise ship operator Global Cruise Lines (GCL) for using 0.17 percent sulfur fuel in a 0.10 percent sulfur…
Debmarine to Build $468mln New Vessel
Namibia marine diamond mining company, Debmarine Namibia announced that its Board of Directors have approved the construction of the world’s first ever custom-built…
Fincantieri to Build Washington Island Ferry
Washington Island Ferry Line signed an agreement with Fincantieri Bay Shipbuilding of Sturgeon Bay to construct the Madonna, a year-round boat transporting passengers…
Pacific Basin Closes New Credit Facility
Hong Kong-based dry bulk shipping company Pacific Basin Shipping Limited has closed a new USD 115 million 7-year reducing revolving credit facility secured over…
UK Flag Eligibility Opens Up for Others
UK Ship Register (UKSR) will now allow owners from a broader group of countries to register their vessels in the UK.UKSR announced that it is set to expand its ownership eligibility…
VLGC Freight Rates Recover
The Very Large Gas Carrier (VLGC) freight rates started to recover towards the end of the first quarter as U.S. consumption reverted to seasonally lower levels pushing U.S.
Conrad Names Oceangoing Tug for Hawaii
The provider of shipbuilding services Conrad Shipyard christened the oceangoing tug Kāpena Bob Purdy for Young Brothers Ltd, of Honolulu, Hawaii, a subsidiary of…
SeaDream Innovation Emphasizes Sustainability
Norway-based private cruise line SeaDream Yacht Club has released new details on its upcoming cruise ship, the SeaDream Innovation, which will incorporate a number…
CMA CGM Launches Pharma Cargo Service
French container transportation and shipping company CMA CGM has announced the launch of a Reefer Pharma division that will focus on the temperature-controlled transportation…
North Sea Oil Production May Go Down
On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling…
NYK Intros Compliant Additive for LSFO
The Japanese Shipping Company Nippon Yusen Kaisha (NYK) have jointly developed a new fuel-oil additive for low-sulphur compliant fuel-oil that meets SOx emission…
Shipping to Halve Carbon Footprint by 2050
The world's principal shipping organisation, representing around 80% of the world’s merchant tonnage, International Chamber of Shipping (ICS) remains confident…
IMO Sets Stricter Emissions Targets for New Ships
The International Maritime Organization (IMO) on Friday agreed stricter energy efficiency targets for certain types of ships in an effort to speed up action to cut the sector's emissions.The IMO's Marine Environment Protection Committee has been meeting in London this week to discuss tougher rules on sulphur emissions and other measures towards meeting a long-term goal of cutting greenhouse gas emissions by 50% from 2008 levels by 2050.The international shipping sector accounts for about 2% of g
London P&I clubs Widen Middle East Threat Zone
London's marine insurance market has extended the list of waters deemed high risk to include Oman, the United Arab Emirates and the Gulf after ship attacks off Fujairah, officials said on Friday, in a move that could push up premiums.The London insurance market's Joint War Committee said in a statement that the additions cover areas of perceived enhanced risk for marine insurers and reflected enhanced regional risk."The situation will be kept under close review…
Petropoulos New Baltic Exchange Chair
Denis Petropoulos has been elected Chairman of the Baltic Exchange Council with effect from June 1, 2019. He replaces Duncan Dunn who has held the position since January 2018. Denis Petropoulos was a founding partner of Braemar Tankers Ltd and remains a significant shareholder at Braemar Shipping Services PLC. He most recently headed up Braemar's Singapore office for seven years, before returning to…
Steel Cut on De Beers Diamond Ship
Damen Shipyards Group and De Beers Marine Namibia (Pty) held a steel cutting ceremony to mark the beginning of construction on a new offshore crawler diamond recovery vessel for offshore operations in Namibia.At 177 meters (577 feet) long, the new vessel will be slightly larger than the current largest vessel in the De Beers Marine Namibia fleet, Mafuta (174 meters, 571 feet). Built from a Marin Teknikk design…
New Kotug Smit Tug Named Buffalo
On May 15, 2019, the naming ceremony of the new Damen-built tug ‘Buffalo’ took place in the Port of Southampton, UK.Kotug Smit Towage has taken four newly-built Damen tugs into service for its European harbor towage activities, in 2017 and 2018. The latest of this quartet, the ‘Buffalo’ is currently operating in the Port of Southampton.The ‘Buffalo’ is an ATD Tug 2412 Twin Fin. With her 72-tonne bollard pull, the tug combines compactness with maneuverability.
Wight, Chartwell Debut Hybrid Patrol Vessel
Wight Shipyard Co. (WSC) debuts a hybrid patrol vessel designed to reduce both fuel costs and engine maintenance.“This ground-breaking project aims to set new standards in high speed, fuel economy and light weight vessels in the sector. Building greener vessels has been an integral focus for some time now so moving into hybrid options is the obvious next step forward,” said Peter Morton, CEO, WSC.The WSC vessel has been designed by naval architect Chartwell Marine…
