Indian Minister for Shipping, Road Transport and Highways, Nitin Gadkari, has said that the Ministry has prepared a scheme to offer subsidy to the shipbuilding industry, says Press Information Bureau of the government. The proposal has been sent to the Cabinet Ministry for approval…
The Nigeria Liquefied Natural Gas company (NLNG) has shipped 3,200 liquefied natural gas (LNG) cargoes by Q2 of 2015, since it began international gas exports in 1989, the managing director, Babs Omotowa said, reports Business Day. Omotowa…
The turmoil spreading from China is certainly not good for the shipping market, says billionaire John Fredriksen to Bloomberg News. John, the billionaire who made his fortune investing in crude tankers, said he’s “very worried” on global shipping markets…
In 2012, U.S. ocean and Great Lakes economy grew much faster than overall GDP The U.S. ocean economy outpaced the domestic economy between 2011 and 2012, with an increase of $22 billion in gross domestic product, from $321 billion to $343 billion…
Vroon Group, an international shipping company, has announced on-target progress in the implementation of Seanique, SOFTimpact’s Maritime Software Solution based on Microsoft Dynamics AX, catering for the Vroon Group’s operations in crewing and payroll across the entire fleet…
Liquefied Natural Gas Limited is entering into two additional key supplier alliance agreements (SAA) with Siemens Energy Inc. and EthosEnergy Group, respectively. These agreements call for LNGL to work collaboratively…
German ocean carrier Hapag-Lloyd aims to launch preparations for an initial public offering (IPO) in September, which is sooner than it originally planned, as a result of strong financial results, says Reuters. Hapag-Lloyd’s solid second quarter financial performance…
The recession, gradually engulfing the world commodity production, has become apparent amid the dynamics of rates for international dry cargo transportation, reports abc.az The key shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 26…
Dan-Bunkering (Singapore) Pte. Ltd. Beijing Rep. Office announced that Tristan Kim has been employed as Marketing Executive at the company’s office in Beijing.Tristan Kim is originally from South Korea but moved to China to study more than 10 years ago…
Tanker shipping firm Nordic American Tankers Limited (NAT) announced that chairman and CEO, Herbjorn Hansson, and his family have increased their holding in the company. According to NAT, a company owned by Herbjorn Hansson and his son…
The Malahat First Nations and Steelhead LNG plan for a floating natural gas liquefaction plant proposed for the waters of the Saanich Inlet. The Mill Bay-based Malahat First Nation and Vancouver-based Steelhead LNG have entered into a…
GC Rieber Shipping has more than doubled its net profit for the second quarter and recorded a year-on-year increase in profit on more vessels in operations and currency gains. However it has warned of a continued focus on shorter contracts in the future…
Norway’s Farstad Shipping ASA has seen red in the second quarter of 2015 as impairments and currency losses drove the company into a loss. Farstad’s profit after taxes (PAT) was negative NOK 119.5 million, versus positive PAT of NOK 46…
There are strong indications that the current economic crisis faced by Greece may truncate a vessel acquisition deal worth over $250 million with some Nigerian ship owners, reports BizWatchNigeria. Recently, some ship owners Association…
China COSCO Holdings Company Limited says its operations at Tianjin port have been unaffected by the blasts that killed 114 people here also put a deep dent in the compact between China’s government and its middle class. 'Our assets have not been materially affected…