Moody's Investors Service has changed its outlook on the global shipping sector to negative as it expects supply growth to outpace demand growth in 2016 by more than 2 percent, suppressing freight rates, particularly in the dry bulk and containership segments…
Cypriot president Nicos Anastasiades has expressed his government’s determination to protect and further develop the shipping sector as per report in Financial Mirror. “Over the past decades Cyprus has built up an exceptional maritime infrastructure and high level of expertise…
Classification society DNV GL introduced a new form of reporting that it claims revolutionizes survey reporting for fleet managers. The newly structured report defines safety barriers and trends, using DNV GL's experience with barrier management in the offshore oil and gas industry…
International trade relies on transportation by sea, as about 85 percent of the freight volumes are shipped globally by vessels. But while maritime is widely regarded as the most environmentally benign of any transport system, maritime transport can cause a diverse environmental burden: It includes…
Press Release: Crowley Marine Services will not be providing oil spill prevention and response services in Valdez and Prince William Sound when its contract expires June 30, 2018. Crowley has provided marine services in Prince William Sound since 1990…
Press release - On 11 March 2015, a reception took place in Limassol (Cyprus) to mark the 25th anniversary of Sovcomflot’s technical management subsidiary SCF Unicom. Unicom was established in 1991, in Cyprus, to allow global charterers…
The Finnish government said on Thursday it would sell 49.9 percent of the shares in defence group Patria to Norway's state-controlled Kongsberg Gruppen for 272 million euros ($308 million). Finland, which will retain the remaining stake…
Burger Boat Company announced the start of construction on Hull 510, a custom 103'-06' (31.55m) full displacement steel and aluminum Explorer Motor Yacht. The Owner and Designer, Luiz De Basto of Miami, Florida, USA, recently visited the shipyard in Manitowoc…
NYC Awards New Ferry Service Deal to HornblowerNew York City Mayor Bill de Blasio announced that the Citywide Ferry Service is on track to launch in 2017, with the selection of Hornblower, Inc. as its operator. The new service, which will…
In a meeting in the Corporate Assembly of Statoil ASA on 17 March 2016, Jeroen van der Veer was elected as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the International oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009…
A number of reporting and operational errors caused the list and grounding of Höegh Osaka on January 3, 2015 according to an investigation by the Marine Accident Investigation Branch, UK.The report into MAIB’s investigation of the listing…
Tender for the Greek rail service company Trainose, steams ahead with three potential suitors, say local media. Besides Hong Kong-listed Cosco Pacific, which is certain to participate, the tender has seen the return of Russian Railways…
Cosco (Nantong) Shipyard, a subsidiary Cosco Shipyard Group Co, has won an order to build one self-elevating workover unit for an Asian shipowner, with an option for one more similar unit. Cosco Nantong and the ship owner have agreed to keep the contract price confidential…
China Merchants Group has made an informal bid for London’s Baltic Exchange, says a report in Reuters. The State-run conglomerate has made an informal offer through a subsidiary, China Merchants Securities. An acquisition of the Baltic…
Ocean Installer will undertake flexible jumper replacement operations for Norwegian operator Statoil at the Vigdis field, says a statement from the company. Ocean Installer will see it perform subsea work. The company said the option falls…