European Commission invests over €7.5 million under the European Maritime and Fisheries Fund to boost innovation, growth and jobs in the marine and maritime sectors. The European Commission is investing over €7.5 million to boost innovation and create jobs in the marine and maritime sectors…
United Arab Shipping Company (UASC) announced the opening of a new joint-venture agency in Uruguay and participation in this year’s Intermodal South America exhibition, opening today in São Paulo and running until 7th April. These initiatives…
The Maritime and Port Authority of Singapore (MPA) will grant a 10 percent concession in port dues for bulk carriers visiting its port. For a one year period beginning April 15, 2016, bulkers loading or unloading cargo with a port stay of no…
The SENER engineering and technology Group has signed a contract with the company Hin Lee Shipyard Co., Ltd. in Zhuhai, China, for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER. After the evaluation of different ship design CAD/CAM systems…
Kvaerner's executive vice president & CFO, Eiliv Gjesdal, has decided to seek new challenges outside Kvaerner, and will step down from the role as CFO as of 6 April 2016. He will work with special tasks until his notice period ends 30 June 2016…
Wärtsilä has been awarded the contract to provide the design for a new jack-up lift vessel. The contract was signed in March with a well known Chinese yard and there is an option for three more vessels. The Wärtsilä design is developed in collaboration with Altis…
Terex Port Solutions (TPS) achieves another success in South America. The Argentinian power plant operator AES Argentina Generacion S.A. (AES) has ordered a Terex Gottwald Model 2 portal harbour crane in the G HSK 2224 variant from TPS. From the end of 2016…
A record volume of capacity entered the container markets in 2015. But where have the ships been deployed, and which carriers have taken on the most? The shipping consultants Drewry released their container shipping review for the first quarter 2016…
Drewry Maritime Advisors say that the trend of “big ship obsession” may soon come to an end. The three largest carriers in the world – Maersk Line, MSC and CMA CGM – extended their dominance by taking on the most capacity, while the five…
The global slump in the shipbuilding industry means that South Korea's ship yards have to look far and wide for new orders. Combined, the three major yards have only received one order in the first quarter of the year. Daewoo Shipbuilding…
Singapore-based Otto Marine Limited has signed a Memorandum of Agreement to sell a Work Maintenance Vessel known as SOC ENDEAVOUR to an unspecified party through its wholly owned subsidiary, Koi Marine Limited. The sale of the vessel…
U.S. Judge Carl Barbier granted final approval on Monday to BP Plc's civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states…
Industry recognizes the need to invest in its people like never before. But are the skills and headcount there? It’s hard to look forward to 2016 without reflecting back on 2015. What an ‘interesting’ year it was. As maritime recruiters…
A group of 26 institutional investors has issued a summons against bankrupt Danish ship fuel supplier OW Bunker in the latest stage of a legal campaign for allegedly misleading them in its 2014 initial public offer (IPO). The investors had said last year they would sue Bunker…
Dry bulk sector revisits 1980s lows and faces uncertain longer term outlook; with the market near bottom, attention is turning toward the length of the downturn, the effect on asset values and the impact of broader demand side changes. In terms of annual average fleet employment rates…