Maritime Industry Top News
Jinhui Shipping Plummets to Loss
Norway listed dry bulk shipper Jinhui Shipping said the tough market that owners faced last year will become tougher in 2015. Dry bulk shipping market Environment…
Berenberg in $1.1bln Box Bid
The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector. A report appeared in…
Satellite Images Reveal Ocean Acidification
Ocean acidification can now be seen from space, highlighting an ongoing danger of climate change and revealing the regions most at risk. Pioneering techniques that…
Zamakona Yards' Commitment to Well-being
Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights…
GasLog Post 4Q 2014 Results
GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31, 2014.
Chassis Pools for Port of Long Beach
Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1…
More Floating Accommodation for Lerwick
An accommodation ship, the SNAV Toscana is due at Lerwick on or around 6 March 2015 to supplement the floating accommodation at the port. Formerly operated as an Italian ferry…
VLCCF - 4Q & FY 2014 Results
Knightsbridge Shipping Limited ( VLCCF ) reports net income of $5.2 million and earnings per share of $0.06 for the fourth quarter compared with a net loss of $6.2…
“Jag Arjun” Delivered to Buyers
The Great Eastern Shipping Company Ltd. (G E Shipping) delivered its 1996-built Capesize Dry Bulk Carrier “Jag Arjun” (164,796 dwt) to the buyers on 26th February, 2015.
Ferus Smit to Launch Newbuild Bulker
Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek. Arklow Breeze is the sixth and last vessel of a series to be delivered to a client from the city of Arklow, Ireland. The design is a bulk oriented general cargo ship that will be mainly employed in the shipment of wheat, corn and other bulk commodities in European waters. The hull form adapts the bulbless principle, creating a slender bow without bulb.
Petrobras Downgrade Shakes Market
Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive…
This Week's Top Stories
The top stories this week covered everything from a DP system failure, a facelift for a WWII torpedo boat, and some mysterious tankers off the coast of Philadelphia. The tanker Olympic Flag was carrying 650,000 barrels of Angolan crude when it dropped anchor seven miles off the coast of Delaware Bay last November. It finally left two weeks ago, but not before being joined by five other tankers. Nobody seems to know why the tankers were idling offshore that long…
Port of Durban to Triple Capacity, Compete with Suez Canal
Durban, South Africa's busiest port, has started a project to triple capacity and encourage vessels to skip the Suez Canal and sail around the Cape of Good Hope, Bloomberg reported today. The excavation project, which will increase the port's capacity from 2.7 million TEUs in 2014 to 9.5 million in 2040, began in 2012 and the first phase is scheduled for completion in 2025. "It's more cost effective to sail modern…
Hercules Offshore Shares Fall 33%
Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.
LA, Long Beach Ports Cooperation Approved
The ports of Long Beach and Los Angeles received federal approval Thursday to cooperate more vigorously on finding new ways to prevent congestion and cargo delays…
Panama Canal Authority Holds Hearing on New Toll Structure
The Panama Canal Authority (ACP) is holding a public hearing today on a proposed toll structure change. The proposed restructuring, which the ACP Board of Directors approved on December 24, calls for each ship segment to be priced based upon different units of measurement. For instance, containers will be measured and priced on TEUs, dry bulkers will be based on deadweight tonnage capacity and metric tons of cargo…
Brightoil Reports Steady Growth in Interim Results
Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period. During the period, profit attributable to the owners of the group increased 3% year-on-year to HK$561 million. Basic earnings per share amounted to 6.41 HK cents, up 3% from a year ago. Total revenue climbed 11% from HK$40.3 billion in 1HFY2014 toHK$44.9…
Somali Pirates Release Long-held Hostages
Somali pirates have freed four Thai nationals seized from a fishing vessel at sea in 2010, ending the longest-running hostage drama in the Horn of Africa state, the United Nations said on Friday.
Mexico Approves 5 Shallow Water Areas in Round One Oil Tender
Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields…
Damen ASD 2810 Hybrid Tug Delivered to Multraship
Multraship took delivery of a Damen ASD 2810 Hybrid tug vessel, built at Damen Shipyards Galaţi, in Romania. The delivery is part of Multraship’s fleet expansion program, which involves a number of Damen vessel orders. The new vessel, named Multratug 28, sailed under her own keel to the Netherlands from Galaţi. The tug features an expected bollard pull of 61 metric tons. Damen’s ASD 2810 Hybrid is a new design, and Multratug 28 is the second of its class to be built.
