The Water Quality Insurance Syndicate welcomed new Senior Vice President, John Ryszetnyk to the team. A graduate of Kings Point, The United States Merchant Marine Academy, Ryszetnyk holds a USCG 3rd Mate Unlimited Tonnage License and is a former U…
Sølvtrans has signed a new contract with the Spanish shipyard Zamakona Yards for the construction of a new 3,200 cu. m. well-boat. Delivery is scheduled to early 2014. The vessel is a sister ship of Rojna Polaris, currently under construction at Zamakona Yards…
China Rongsheng Heavy Industries release financial results for the twelve months ended 31, December 2012.In 2012, the Group recorded approximately RMB 7.96 billion in revenue, a year-over-year decrease of 50% from RMB 15.9 billion.Losses…
The Multipurpose sector faces a difficult couple of years, but its long-term prospects are good, according to Drewry Maritime Research’s latest Annual Multipurpose Shipping Market Review and Forecast report.Most owners of Multipurpose ships (MPVs) were fairly upbeat at the start of 2012 and…
China Shipping Development Company Limited reports 'Business Income' decreased 9.1% as against 2011 figures.Chairman of Board Li Shaode reviewed the achievements China Shipping Development made in the year 2012, and the following extracts…
ITIC has warned that onerous documentary disclosure rules in the U.S. courts can drastically increase the cost to shipping interests of defending even without-merit claims.In the latest issue of its Claims Review, ITIC cites a case involving…
The market continues to struggle, and Drewry's latest Tanker Insight report saw the Drewry Tanker Earnings Index suffer a further decline in February.Weak demand hammered freight rates on major routes, especially for the larger vessel segments…
At the Georgia Ports Authority Board meeting, Executive Director Curtis Foltz reported strong growth for February.The GPA achieved an increase of 6.9%–or 147,650 tons–in total cargo compared to the same month last year, moving 2.27 million tons of freight in February…
KPI Bridge Oil, a global broker and trader in marine bunkers, marine lubricants and risk management products, has appointed Mr. Andrew Burton as Group Credit Manager. Andrew will be based at KPI Bridge Oil’s Headquarter in London.Andrew…
In a letter to unit holders First Lease Ship Trust (FSL Trust) chairman Wong Meng Heng comments on the Trust's 2012 financial report: excerpts as follows:'The industry witnessed another dismal year as weakness in freight rates and asset values persisted in 2012…
Statoil (OSE:STL, NYSE:STO) published the group's Annual and Sustainability Report for 2012 on its website, 22 March, as well as its US Annual Report and accounts on Form 20-F.'During 2012, Statoil made good operational and strategic performance…
Beyond raising funds, President's Challenge champions the giving of time, knowledge and expertise to help the underprivileged - Keppel Corporation pledges 5,000 hours of community service and commits to mentoring social enterprises.President…
International accountant & shipping adviser Moore Stephens says the UK Budget 2013 contains generally good news for the shipping sector.Measures which will have an impact on the shipping industry include a reduction in the main rate of UK…
Mercator Lines (Singapore) Indian-owned international dry bulk shipping company cuts short charters, sell a ship.The sale of the vessel Sri Prem Putli was concluded on 21st March, 2013 resulting in net proceeds of USD 44.4 million. The proceeds…
Euronav, report a trading loss of almost US$ 119-million after tax in year-ending 2012 report, expect oil transportation market to re-balance in 2013.Prospects for 2013 On the supply side, given the current state of the tanker market and…