Maritime Industry Top News
Sakhalin: Offshore Heavy Lift Refit
Large-scale conversion project on offshore platform Molikpaq operated by Sakhalin Energy.While the refit of heavy lift capacity onboard an offshore rig might sound mundane, Liebherr’s project to replace and modernize cranes on the offshore platform Molikpaq operated by Sakhalin Energy, a unit subjected to some of the world’s harshest conditions, is anything but mundane.The modernization project on…
DP World buys back P&O Ferries for $421 mln
DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the hear
Hedge Funds Hunt for Shipping Debt
A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector.World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping sector, which has struggled with tough markets for a decade.Meanwhile European banks, particularly German lenders…
A New Name in Ship, Yacht Sales
Vesselbay.com went live in 2019 with the launch of an online sales platform for vessels, a platform designed to ensure efficient sales processes.Vesselbay.com aims to bring together buyers and sellers of vessels, invisible to the eyes of third parties, on an international scale. It works as follows: 1] A private or business vendor advertises a yacht or ship on Vesselbay.com.2] A potential buyer makes an invisible, provisional bid for the vessel online via the Vesselbay.com website or app.
Keppel Delivers Jack-up Rig to Grupo R
Singapore's Keppel FELS has delivered the jackup rig, Cantarell IV, to Grupo R with a perfect safety record.The wholly-owned subsidiary of Keppel Offshore & Marine…
Japanese Offshore Wind to Hit 4GW in 2028
Japan's nascent offshore wind industry is expected to increase dramatically over the next ten years, according to energy analysts Wood Mackenzie, who predict that…
MJM Bags Largest-Ever Cruise Contract
Global marine outfitter, MJM Marine is undertaking its biggest-ever project which will see a team of 1,400 people spend more than a month working on a cruise liner…
RCL Confirms Sixth Vessel Order
Royal Caribbean Cruises Ltd (RCL) just gave confirmation of an order for Chantiers de l’Atlantique, according to a previous option agreement, to build a new Oasis-class cruise ship…
Dry Bulk Market Looks Dull
Global dry bulk fleet utilization (calculated as total demand in tonne miles transported divided by total available fleet capacity) dropped by 1.4% in the fourth quarter of 2018…
Valles Orders New Tanker from SHI
The Hong Kong and Vancouver-based shipowner Valles Steamship has ordered a new 112,000 dwt crude oil tanker from South Korea’s Sumitomo Heavy Industries Marine &…
Cosco, Bolloré in Logistics Partnership
China’s container shipping company Cosco Shipping Lines signed a strategic Memorandum of Understanding (MoU) with Africa-based Bolloré Transport & Logistics to develop new opportunities in transport…
DSME Workers to Strike Against HHI Takeover
Workers at South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) voted on February 19 to strike to oppose Hyundai Heavy Industries (HHI)’ proposed takeover.According to labour union…
Gas4Sea, Equinor in LNG Bunkering Pact
Marine LNG Zeebrugge, a joint venture of the Gas4Sea partners - ENGIE, Mitsubishi Corporation and NYK - has signed an agreement with the Norwegian multinational…
Port of Oakland Gets Giant Cranes
SSA Terminals, the operator of Oakland International Container Terminal, submitted last week a $30 million order for three 300-foot-tall gantry cranes, which are…
Inland Shipping Joins Forces in Amsterdam
Inland shipping is essential for the transportation of containers on the Amsterdam-Utrecht-Rotterdam route. 250,000 containers are transported annually via this routeTMA Logistics…
India: Locally Built Ships Priority in Chartering
The government of India has revised guidelines for chartering of ships by providing the right-of-first-refusal (RoFR) to ships built within the country, a move to…
Nordic American Tankers Still in the Red
Nordic American Tankers (NAT) reported a net loss for 4Q2018, came in at -$10.5 million. This was a substantial improvement from the previous quarter (3Q2018) which saw a net loss of -$37.9 million.
Navios Appoints Alexander Kalafatides as Director
The dry cargo vessel player Navios Maritime Partners announced the appointment of Mr. Alexander Kalafatides to its Board of Directors.The international owner and…
Vens Close Maritime Border with Dutch Antilles
Venezuelan authorities have closed the maritime border with the Dutch Antilles, a regional navy chief told Reuters on Tuesday, preventing boats and aircraft from arriving from the islands of Aruba, Curacao and Bonaire.Vice Admiral Quintero Martinez did not give a reason for the closure, though Venezuela's opposition have said they plan to bring humanitarian aid into the country from Curacao on Saturday, which President Nicolas Maduro's government has pledged to block.Reporting by Mircely Guanipa
Missouri River: Open for Business & Business is Booming
On February 12th and 13th, the Missouri River Stakeholders converged on Kansas City, Missouri to discuss current challenges and opportunities for growth. The main message echoed repeatedly, is the Missouri River is open for business, and business is booming.Over the course of the two-day event, the U.S. Army Corps of Engineers and the U.S. Coast Guard worked with the river’s commercial navigators to…
