2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO. The six new VLCCs were delivered in a strong winter market…
Waterways Council, Inc. (WCI) reacted to the FY 2017 budget request made by President Obama earlier today, as detailed below. The Budget • proposes $4.620 billion for the U.S. Army Corps of Engineers’ Civil Works program, a 29.8% cut from the $5…
Dan-Bunkering (Middle East) DMCC has announced that Adil Qayyum started as Bunker Trader in the office in Dubai on November 16, 2015. Qayyum is 28 years old and originates from Pakistan but grew up in the U.K. where he also took an MSc in banking and finance.
Frontica has signed a five year contract with Aker Solutions to deliver staffing services, IT services and consultancy projects as well as business support services within HR, finance and procurement. Under the terms of the contract, Frontica…
KPI Bridge Oil, a global trader and broker in marine fuels, marine lubricants and risk management products, has appointed a new Senior Bunker & Lubricant Trader, Dimitrios Bouzoukis, at its Athens office.Dimitrios, who brings with him over…
Dubai's DP World has appointed chairman Sultan Ahmed bin Sulayem as permanent chief executive with immediate effect, the port operator said on Monday, two weeks after he took interim charge following the retirement of the former CEO.Sulayem will hold both roles simultaneously…
Cyprus shipping sector has evolved in the recent years as one of the leading sectors of the economy and “navigates” Cyprus to economic recovery, President of the Republic Nicos Anastasiades stressed says a report by CNA. President Anastasiades…
China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for Greece's rail network after becoming the sole bidder for the country's largest port…
Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015 full year financials when compared to 2014. The liquefied natural gas (LNG) shipper said the higher earnings compared with RM2…
The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the…
Bunker trading company Dan-Bunkering has announced the employment of Morten Dehn as the company’s new Group Key Account Manager and Jane Bisgaard as Group Financial Business Partner. Dehn is 44 years old and is, among other things, in possession of extensive knowledge within fuel procurement…
Dry bulk shipping companies being hit the hardest on account of the deteriorating business climate are likely to be swept by a new wave of bankruptcies, reports Nikkei. The global commodities bust has rocked the dry-bulk shipping industry…
Subsea UK announced today, at Subsea Expo, that it will sponsor an initiative which inspires budding subsea engineers for a second year. The body which represents the £9billion subsea industry has now committed £20,000 to the Scottish MATE ROV competition…
The Korean shipping giant Hanjin Shipping improved its financial result in 2015 and came back to profit trajectory. It reported a $6m net profit in 2015 from a $396m loss the previous year and said it expects cost-saving measures to help it weather a tough 2016…
The Russia's top shipping company Sovcomflot initial public offering (IPO) is expected in Q3 2016, part from the privatization program by the government. An IPO for Sovcomflot could take place later this year. The current fleet of Sovcomflot numbers 142 vessels with total deadweight of 12…