Webb Institute, a four-year college specializing in Naval Architecture and Marine Engineering, announced the receipt of $100,000 in annual scholarships from the American Bureau of Shipping (ABS). The ABS Scholarship Program provides financial…
Tankship freight rates on the up as global oil trade pattern changesAccording to Bloomberg, the U.S. is importing the least in 13 years as China buys more than ever, lengthening voyages for tankers and effectively reducing the fleet’s capacity…
Drewry’s Chemical Tanker Freight Rate Index dropped during the first quarter, registering its first quarterly decline since 3Q10. Transpacific westbound rates lost as much as 13%. The next quarter is traditionally a lean period, with Drewry…
The Partners in Preservation program is encouraging readers to vote through May 21, 2012, to support several key historic maritime places in and around New York. Maritime sites under consideration for funding include:- The Intrepid Sea…
The UK P&I Club (the Club), one of the oldest shipping protection and indemnity insurance mutuals, announces its results for the year ended February 20, 2012. Highlights• Combined ratio 97% for 2012 financial year• Surplus…
Despite the persistently challenging environment in the industry, Hapag-Lloyd increased its transport volume and revenue in the first quarter of 2012. The average freight rate was $1,484/TEU in Q1, down around 5% on the previous year’s figure of $ 1…
Port of Los Angeles pioneers international clean ship incentive program in North America & the Pacific RimThe Port of Los Angeles has become the first seaport in North America and the Pacific Rim to adopt an international clean air program…
High fuel costs, low freight rates conspire to create tough 1QNOL Group, the Singapore-based container shipping and logistics company, reported a first quarter 2012 net loss of 254 million compared to a net loss of $10 million in the same period last year…
Five-year contract provides environmental expertise for maintaining the nation's waterways. Battelle has won a five-year, $15 million contract to support and consult with the U.S. Army Corps of Engineers (USACE), New England District, North Atlantic Division…
Following on from Drydocks World Dubai LLC and Drydocks World LLC (together the “Drydocks World - Dubai”) filing for Decree 57 on 1 April 2012, Drydocks World has confirmed that its restructuring remains on track and has the support of its lenders to its restructuring proposals by Q3 2012…
Nordic Shipholding A/S completes sale of chemical tanker activities.In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the…
Barclays says return of industry confidence brings multi-million dollar deals in UK & US. The oil and gas team in the Barclays Corporate Banking division has announced it has been involved in deals providing funding for acquisitions and…
Odyssey Marine Exploration soon to begin three high-value marine recovery projects, receives US$ 8 million investmentOdyssey Marine Exploration, Inc. deep-ocean shipwreck explorers, announce it has delivered an additional closing notice…
Panel to Navy: Keep 12 ballistic missile subsA minimum of 12 ballistic missile submarines must remain in service for the foreseeable future, a key congressional committee said, despite Navy plans to drop below that number beginning in 2029…
DNB Bank ASA won the Ship Finance Award at the Seatrade Asia Awards 2012 held in Singapore April 23, 2012. Held at the Shangri-La Hotel Singapore ballroom, the venue attracted 300 senior shipping executives attending the dinner. A Who’s Who…