Maritime Industry Top News
Listing Freighter Drifts Towards French Coastline
A crippled cargo ship was drifting slowly towards the French Atlantic coast on Friday as rescue teams struggled to board the distressed vessel. The Modern Express…
Energy from the Ocean: The Ocean Thermal Energy Converter
Despite historic lows in traditional oil and gas energy markets, research and develoment continues in earnest on a number of projects designed to produce green energy. The latest, an Ocean Thermal Energy Converter (OTEC) from KRISO, received Approval in Principle from classification society Bureau Veritas. KRISO (Korea Research Institute of Ships & Ocean engineering), established in 1973, is a government…
Performance Monitoring, Verification Drives Orders, Investments for Norsepower
Finnish engineering company, Norsepower today announced that it has received €3 million in investment from a syndicate led by venture capital fund Power Fund III…
VARD's LNG Tank gets DNV GL Approval
VARD’s new LNG tank design has been granted General Approval for Ship Application (GASA) by DNV GL. The new LNG-type B-tank design is based on vertical cylindrical…
Fisherman Medevaced off Cape May, NJ
The Coast Guard medevaced a fisherman 75 miles southeast of Cape May, New Jersey, Thursday. The 43-year-old man was fishing with three other people aboard the 80…
IMTRA Acquires Custom Product Sales Talent
IMTRA, the leading manufacturer and importer of quality marine products, announced today the addition of Prentice Weathers to its sales team. Focusing on business…
Navy to Christen Littoral Combat Ship Sioux City
The Navy will christen its newest Freedom variant littoral combat ship, USS Sioux City (LCS 11), during a 10 a.m. CST ceremony Saturday, Jan. 30 in Marinette, Wisconsin.
Tidewater Suspend Dividend
Tidewater Inc. (NYSE:TDW) leading provider of Offshore Service Vessels, announced that its Board of Directors has approved management's recommendation to suspend…
Incat Crowther's Catamaran Ferry for Lomprayah
Incat Crowther delivered Thapdaorai, the seventh catamaran passenger ferry for Lomprayah High Speed Ferries. Constructed by BP Marine, the 34m vessel is an extended…
APM Terminals Pipavav Project Profit
January 28, 2016: APM Terminals Pipavav (Gujarat Pipavav Port Ltd), operating one of western India’s gateway ports, reported a net profit of INR 533 million for…
DP World CEO Sharaf Retires
DP World today announces that, after 23 years with the Group and 11 successful years as Group CEO, Mohammed Sharaf has retired from DP World Group, effective today, to pursue other opportunities.
MSC Acquires Portugal Intermodel CP Carga
Swiss Mediterranean Shipping Co. (MSC) has finalized the acquisition of CP Carga, the freight and logistics unit of Portugal’s state-owned railway. MSC Rail, railway company of MSC…
COSCO Eyes Port of Limassol in Cyprus
After acquiring control of Greece's Piraeus Port Authority SA, China Ocean Shipping (Group) Company (COSCO), is now bidding to run the port of Limassol on the island of Cyprus…
Mercator Sells Five Bulkers
Singapore’s dry bulk shipping company Mercator Lines Limited has has entered into Memoranda of Agreements to sell five bulk carriers, the company’s judicial manager said.
Sick jihadis to Target Cruise Ships in the Mediterranean
Islamic State (ISIS) militants armed with Russian weapons could commit brutal terror attacks on cruise ships in the Mediterranean, Vice Admiral Clive Johnstone…
Dry Bulker Business Down, Says MOL
In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting…
Microsoft Mogul's Yacht Destroys Coral Reefs
The anchor chain of 303-foot mega-yacht, the Tatoosh, belonging to Microsoft co-founder Paul Allen has been blamed for destroying a large area of protected coral reef in the Cayman Islands.
MOL Car Carrier Rescues Castaway
Mitsui O.S.K. Lines, Ltd. has announced that on January 20, 2016, the MOL-operated car carrier TRIUMPH ACE safely rescued a survivor about 80km offshore of Mexico.
SS United States: Deal Reportedly brokered to Save Historic Ship
A deal has been brokered to save the historic liner SS United States, with full details scheduled to be announced in New York City on Thursday, February 4, 2016. Once the queen of the express liners, and the fastest, safest and biggest passenger liner in history, the SS United States for years has quietly awaited rescue in Philadelphia. Built by Newport News Shipbuilding and Drydock Co. (now Huntington Ingalls Industries (NYSE: HII) and designed by legendary William Francis Gibbs (Gibbs & Cox…
All-Electric Ferry Development Underway
Art Anderson Associates and partner EESImarine have been developing concepts for an all-electric ferry and are now teaming to generate funding for the implementation…
