Keppel Seghers Belgium N.V. and Keppel Seghers UK Limited (collectively, Keppel Seghers) have handed over Phase 2 of the Runcorn Energy-from-Waste (EfW) facility, in the UK, to the client.Runcorn EfW comprises two phases of equal capacity…
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to date…
The marine insurance sector is undergoing a rapid period of change and it is critical that insurers understand the risks the industry is facing and offer products that match these new trends, Dieter Berg, president of the International Union of Marine Insurance (IUMI) said…
China's COSCO (Guangdong) Shipyard has secured a contract from Aberdeen-based Sentinel Marine to build a TAERRV (Tanker Assist / Emergency Response / Rescue / Field Support Vessel). Cosco says the vessel’s expected delivery date is in the first quarter of 2017…
The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2…
With earnings, adjusted for amortization costs, profits came to 43 cents per share, Greece-based Dynagas LNG Partners LP (DLNG) exceeded Wall Street expectations. The company is looking into the opportunity of acquiring five LNG carriers…
Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry…
Essar Ports Limited today announced its unaudited results for the full year and quarter ended March 2015.Key Highlights:· Essar Ports takes over the Vizag Iron Ore outer harbor terminal with 2 berths on 14th May 2015. Existing operational terminal with no gestation period…
Greece Economy Minister George Stathakis said that his government is dropping its opposition to selling off the Piraeus Port Authority SA. A sale of the Piraeus Port would be a reversal on the part of Greece’s Syriza party-led government…
New York-listed ship and barge Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter. The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share…
The Steamship Mutual Underwriting Association (Bermuda) achieved a combined ratio of 78.6% for the 2014-2015 policy year, one of the strongest results in its 100-plus years of existence.Free reserves increased by US$75 million to US$376…
Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level…
The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013.Petrofin Research in its latest annual research says that drawn loans are up by 2…
After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry.Reed is part of the baby boomer generation that forms the backbone of the U.S. oil workforce…
In an initiative to raise awareness of potential hazards at sea, The Standard Club and the International Chamber of Shipping (ICS) have joined forces to launch a ‘Spot the Hazard’ competition open to any seafarer worldwide. With USD$10,000 of prize money…