Maritime Industry Top News
Libyan Oil Exports to Resume from Closed Ports
Libyan oil exports from closed ports should resume in no more than one to two weeks after a deal was signed between the government and an armed brigade controlling the terminals…
US Oil Drillers Add Rigs for 5th Week in a Row
U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast doubts…
New 'Mega Passenger Ship' for Star Cruises
Elomatic Ltd and Deltamarin Ltd have signed a tri-party engineering contract with shipbuilder MV Werften for the design of Star Cruises’ new Global Class “mega passenger ship,” which, once completed, will be the largest passenger vessel ever built in Germany. The new cruise liner will measure over 340 meters long, 45 meters wide and have a gross register tonnage of 200,001. The general arrangement…
Daewoo Shipbuilding: $1.4 bln order Cancelled
Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)…
Asia Tankers-VLCC Rates Falter on Oil, Tanker Supplies
MidEast, West Africa rates hit 11-month low. Freight rates for very large crude carriers (VLCCs), which hit an 11-month low this week, could slide further next week…
Asia-N.Europe Box Rates Jump 58 pct
Freight rates for shipping containers from ports in Asia to Northern Europe jumped 58 percent to $1,125 per 20-foot container (TEU) in the week ending Friday, a…
Crew Kidnapping Rising in Gulf of Guinea - Dryad
In contrast to the substantial numbers of reported incidents across Southeast Asia and the Indian Ocean in recent years, maritime crime now appears to have stabilised…
Damen PSV for Wilson Sons Ultratug Offshore
Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000. The…
Gener8 Maritime Net Income Up 91%
Announcing its financial results today for the three and six months ended June 30, 2016 Gener8 Maritime, Inc. reported net income of $38.0 million, or $0.46 basic and diluted earnings per share…
VARD Bags Three-vessel Contract
Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels secured a contract for the design and construction…
LNG Market Needs More Vessels than Currently on Order
Despite the current weakness in LNG shipping rates, Drewry maintains its bullish long-term outlook for LNG shipping and believes that the market will require more…
CMA CGM Rolls out Bengal Bay Express
CMA CGM has introduced its new Bengal Bay Express service, operated with 11 vessels of 6,500 TEU on a weekly basis, in a continuous effort to provide its customers with the best quality service.
Dynagas 2Q Results Upbeat
The financial results of Greece-based Dynagas LNG Partners LP (DLNG) for Q2 beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks…
Safe Bulkers Reports Q2 Loss, Expands Fleet
The Athens, Greece-based Safe Bulkers Inc. (SB) has reported a loss of $9 million in its second quarter. It had a loss of 15 cents per share. Net revenue for Q2…
Maersk Training Bullsh on India
Maersk Training, part of the Denmark based A.P. Moller-Maersk, is betting on the Indian training centre, reports the Hindu. India is one of the 10 Centre’s that is making profits.
GasLog Reports Higher Profit in 2Q16
GasLog Partners LP has released its financial results for 2Q16, boasting a profit of US$17.38 million – 38% higher than in 2Q15. Its demand outlook for LNG carriers…
Navios Maritime Posts 2Q Profit
Navios Maritime Midstream Partners LP (NAP) has reported second-quarter earnings of $5.9 million. It says revenue for three month period ended June 30, 2016 increased by $4.3 million to $22.7 million.
Det Norske to Restore Production at Alvheim after Leak
Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak, stopped production earlier on Thursday. There was no discharge into the sea as a result of the incident, it added. "We are in full control and expect to reach full production at some time during the night," a Det norske spokesman told Reuters.
Insights: Kunkel Weighs in on Propulsion Technology
LNG? Methanol as fuel? Hybrid systems? Tier 4? Reducing noise? Cutting emissions without crushing fuel economy? Marine News readers have questions and Bob Kunkel has answers.
A Sea Change in Waterjet Technology
Longtime waterjet propulsion equipment provider NAMJet introduces key advancements for the workboat sector. Back in 2011, when boat builder Birdon went looking for…
