GE Power Conversion receives first order in Japan from Kawasaki Heavy for electric propulsion motor equipment for LNG vessels GE’s Power Conversion business has received a new order from Kawasaki Heavy Industries, Ltd. for electric power and propulsion systems for two LNG carriers…
Meriaura Group to strengthen its position in the market by increasing its cargo fleet. The company has ordered a Dutch Royal Bodewes shipyard two VG EcoCoasterTM -kuivarahtialusta, both a carrying capacity of 4700 tons. The new building contracts were signed in December in Turku…
Aker Philadelphia Shipyard, Inc., held a naming ceremony earlier today for the second of two tankers being constructed for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U.S. marine affiliate. Political guest speakers included Governor Tom Corbett…
Dorian LPG Ltd. a leading owner and operator of modern Very Large Gas Carriers ('VLGCs'), today announced that is has received commitments for up to $761 million of debt financing for its VLGC newbuilding program. ABN AMRO Capital (USA)…
Eagle Bay, the second of two new U.S.-flag crude oil tankers for Exxon Mobil Corporation’s marine affiliate SeaRiver Maritime, Inc., was named at a ceremony at Aker Philadelphia Shipyard. The first-in-class vessel constructed at the shipyard incorporates the latest safety…
Some of the world’s largest oil traders are reportedly hiring supertankers in a possible attempt to stockpile oil supplies following the plunge in world prices. Trading firms including Vitol, Trafigura and energy major Shell have all booked crude tankers for up to 12 months…
Nordic American Tankers Limited (NAT) - Declaration of dividend for the 70th consecutive quarter. The first time was in October 1997.The Board of Nordic American Tankers Limited has declared a cash dividend of $0.22 per share for 4Q2014…
The Thome Group has announced the appointment of a new Chief Executive Officer, Olav Magnus Nortun, who will take up the position on 1st April, 2015.Mr Nortun, a Norwegian national, brings with him vast experience in the maritime industry…
Capt. Panagiotis N. Tsakos named Connecticut Maritime Association 2015 Commodore; award to be presented March 25, 2015 at the conclusion of the CMA's Shipping 2015 Annual Conference and Exposition Capt. Panagiotis N. Tsakos, Founder of the Tsakos Group…
Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended December 31, 2014, an increase of 1.2 percent over the cash distribution of $0.6918 per unit for the quarter ended September 30…
Concordia Maritime has just renewed its contract with a major oil and gas company for a consecutive voyage charter arrangement for the P-MAX tankers Stena Provence and Stena Polaris. The agreement will run until the summer of 2015.“This…
McQuilling Services Industry Note on 'Rebalancing Trade Flows: The New World Order' :Many types of crude oil are produced around the world. Depending on the requirements of a particular refinery, a blend of heavy and light crudes is processed to manufacture a variety of petroleum products…
Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA (Oslo: AKPS), celebrated two significant ship milestones this week. Today, the shipyard held a ceremonial Keel Laying for the second…
Navios Maritime Holdings Inc. has announced several senior leadership changes effective as of January 1, 2015.Shunji Sasada has been promoted to President of Navios Corporation and appointed as a member of the board of Navios Holdings. Sasada…
On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction of two suezmax tankers to be delivered in the third quarter 2016 and first quarter 2017…
