Kongsberg Maritime and Lycée Maritime Jacques Cassard in Nantes have signed a contract for the delivery of an advanced Engine Room Simulator. The K-Sim Engine delivery will consist of an instructor station and eight student stations, with two…
Israel Corp shareholders are set to vote on a $3 billion restructuring plan by the conglomerate's shipping offshoot Zim, first set out in January and which has now received a key government go-ahead. An Israel Corp spokesman said shareholders of the group…
ATL’s newest OSV contract creates 100 new jobsAtlantic Towing Limited (ATL) announced today that it has secured a new 10-year firm contract, plus a total of 15 years of options at the Charterers’ discretion, with ExxonMobil Canada Properties and Hibernia Management and Development Company Ltd…
A new spar platform being built for Statoil's Aasta Hansteen field off the coast of Norway will feature Wärtsilä's Inert Gas and Nitrogen Generator systems, the power solutions company said. The contract has been issued in the first quarter 2014 by Hyundai Heavy Industries (HHI) of South Korea…
Stefanos Kazantzis, Financial Advisor of McQuilling Services Marine in an interveiw discusses the recent upswing in VLCC asset prices and current developments in the asset markets. Excerpts:About Asset Contango:Asset Contango is a situation…
Independent source of maritime market information for the trading and settlement of physical and derivative contracts, London's Baltic Exchange says it will be making changes to the Baltic Capesize Index including a change to its vessel description…
Inmarsat has signed an agreement with Telemar SpA, appointing the specialized managed satellite services provider as a Value Added Reseller (VAR) for Global Xpress, serving the Government market in Europe.Andy Start, President, Inmarsat Global Government Services…
General Dynamics American Overseas Marine LLC (AMSEA) apprises it has been awarded the USD$32.7 million contract modification to operate and maintain seven large, medium-speed, roll-on / roll-off ships (LMSR) for the Military Sealift Command…
Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s.Ship owners ordered large numbers of vessels between 2007 and 2009…
A survey of London solicitors by specialist intermediaries insurer ITIC has highlighted the high cost of litigation for shipbrokers and others seeking judgment in the English courts, reports trade association Maritime London.Indemnity insurers…
In the latest listing of US Department of Defense, Navy, contracts American Overseas Marine (AOM) LLC, Quincy, Mass., is being awarded a US$32,668,153 modification under a previously awarded firm-fixed price contract (N00033-10-C-5300) to exercise…
Samsung Heavy Industries Co Ltd said on Wednesday it won a 1.34 trillion won ($1.27 billion) order to build two drillships for an unnamed firm based in or near Australia. The South Korean shipbuilder said in a regulatory filing the contract was expected to be completed by June 2017…
Gasoline barge prompt cracks in northwest Europe gained on Monday, supported by exports to West Africa, the United States and elsewhere as demand builds ahead of the peak summer season. Reuters shipping data showed a flurry of new vessels booked to carry gasoline or its components…
A subsidiary of Saltchuk Resources, one of the nation’s leading transportation and petroleum distribution companies, has entered into a binding purchase & sale agreement to acquire Tropical Shipping and its related companies.…
Lockheed Martin inform that the U.S. Air Force has awarded it more than $245 million in contract options to complete production of its seventh and eighth next-generation Global Positioning System satellites, known as GPS III.“With eight GPS III satellites now fully under contract…