Maritime Industry Top News
NORDEN Sells Capesize Vessel
NORDEN announced it has agreed to sell Nord Power, a 176,000 tdw Capesize dry cargo vessel built in 2005. NORDEN said the sale will entail an accounting loss of $12 million, which will be included in the annual results for 2015. In the long term, NORDEN said it expects to reinvest the proceeds from the sale into additional Supramax or Panamax tonnage, in line with its strategy focusing on these vessel types.
China Fines Shippers $63 mln for Price Fixing
China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha, a total of 407 million yuan ($62.85 million) for price-fixing, the country's state…
Shell Exits Transocean's Polar Pioneer Contract
Transocean, one of the world's largest offshore drilling companies, said on Monday that Shell had opted to terminate its contract for the harsh environment semisubmersible…
Asia-Europe Box Rates Inch Up
Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 2.7 percent to $573 per 20-foot container (TEU) in the week ended on Friday…
Filipino Protesters Irk Chinese in South China Sea
China expressed anger on Monday after a group of Filipino protesters landed on a disputed Philippine-held island in the disputed South China Sea. About 50 protesters…
Survival of Fittest for 2016 Commodity Shippers
Downturn in dry freight market started in 2008; more ships expected to hit the water next year. Shipping companies that transport commodities such as coal, iron…
Wärtsilä Solution for 15 LNG Powered Barges
A series of 15 inland waterway barges being built for Belgium based Plouvier Transport N.V., and which will be chartered by Shell Trading Rotterdam (Shell), are…
Norway: EMGS in 3D EM Data Sale
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company for the provision of 3D EM data from the multi-client data…
China Fines 8 Global Shippers
China is going after container shipping lines for freight rate abuses. The Chinese Ministry of Transport has fined a total of $65 million on price-fixing charges.
Living Shorelines Blunt Effects of Climate Change, Says NOAA
A recent NOAA study, published in the journal PLOS One, shows “living shorelines” — protected and stabilized shorelines using natural materials such as plants, sand…
Odigitria Grounded in Delaware River
The Marshall Islands-flagged bulk carrier Odigitria grounded in Delaware river off Grows Terminal in Morrisiville, Pennsylvania. The ship was loaded with scrap,…
Abu Dhabi Ports and Gulf Marine Services Announce New Partnership
Abu Dhabi Ports – the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate ― has signed a contract with Gulf Marine Services…
Chinese Spy Ship Enters Japanese Peninsula
A Chinese naval intelligence ship was spotted off Japan's Boso Peninsula in Chiba Prefecture, Jiji Press reported quoting the Defense Ministry. The vessel did not…
Shell Terminates Polar Pioneer Contract
Royal Dutch Shell has elected to terminate the contract for harsh environment semisubmersible rig Polar Pioneer prior to its expiration in July 2017, the rig's owner Transocean Ltd. announced.
Improvement of Seattle Port's Terminal 5 Begins
Contractors will begin driving test piles at Terminal 5 in Seattle the first week of January. The installation will last through March. The pile driving and testing…
N-KOM, Angelicoussis Extend Cooperation
Nakilat - Keppel Offshore & Marine (N-KOM), the joint-venture shipyard between Qatar’s Nakilat and Keppel Offshore & Marine, has signed a landmark agreement with…
Two Rescued Near Cape Charles, VA
The Coast Guard rescued two men Sunday from a 19-foot skiff aground and taking on water in Cape Charles. Coast Guard watchstanders were notified Sunday at 5:15 p.m.
Marine Industry Records Strong Growth in Dubai
While many sectors of the global maritime market recorded slowdowns in 2015, one area of the Middle East reports impressive growth figures. Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, has announced the registration of 1,623 marine crafts (compared to 945 in 2014) and the issuance of 2,396 marine crew licenses (compared to 945 in 2014) to date.
Gulf Navigation Appoints Parag Jain CEO
Gulf Navigation Holding PJSC (DFM: GULFNAV), the Dubai-based shipping company, has confirmed the appointment of Parag Jain as the company’s new Chief Executive Officer (CEO). The confirmation is a welcome move as Jain has been serving in the capacity of acting CEO since May of this year. With over 20 years of experience in the marine and maritime industry, Parag’s dynamic leadership and proficiency…
USCG Repatriates 27 Migrants
Crewmembers aboard the Coast Guard Cutter Isaac Mayo repatriated 27 Cuban migrants to Bahia de Cabañas, Cuba, Saturday. This repatriation is a result of two separate migrant interdictions at sea…
