The reduction in the new 2016 Worldscale flat rates of Very Large Crude Carriers (VLCC) has led to spot rates increasing as owners look for equivalent 2015 returns, says tanker market assessments from the Baltic Exchange. Thus we are now seeing rates for long east of around WS 107…
The Coast Guard is urging people to use extreme caution when venturing onto the ice across Lake Superior, St. Marys River, and the northern parts of lakes Michigan and Huron with the forecasted rain and snow predicted this weekend.The…
An ailing fisherman was medevaced by U.S. Coast Guard aircrews Thursday roughly nine miles west of Winchester Bay, Oregon. The man, reportedly suffering from a seizure, was hoisted from fishing vessel Hecate by an MH-65 Dolphin helicopter…
Marathon Petroleum Corp. (MPC) announced the retirement of Richard D. Bedell, senior vice president of Refining, effective March 1. Raymond L. Brooks, currently general manager of MPC's Galveston Bay refinery in Texas City, Texas, will replace Bedell…
Press release - The North American Maritime Ministry Association is launching a new project aimed at enhancing the ability of traditional shore-based seafarers’ welfare agencies to connect with seafarers’ using innovative digital tools. Supported by The Mission to Seafarers…
JDR said that James Young will take up the role of Chief Technology Officer with effect from 1st February 2016. In his prior role as Engineering Director, Young led the attraction and development of JDR's engineering talent for many years…
A consortium of Japanese shipyards decided to sell its stake of Ecovix, which controls the Rio Grande Shipyard, reports Reuters. Mitsubishi Heavy Industries, four other shipbuilders said in October 2013 acquired 30% of Ecovix-Engevix Construcoes…
After a decade-long boom, there were zero new orders globally for jack-up rigs last year on account of the current oil downturn. Singapore's largest rig builders finding it difficult to navigate safely, reports The Straits Times. With oil prices swooning…
Container vessel capacity delivered in 2015 has reached a new record as 212 new cellular containerships, with a total capacity of 1,714,860 teu, have joined the global fleet over the course of this year, according to Alphaliner Research. The…
IMO and the World Customs Organization (WCO) have signed a partnership agreement to maintain, update, publish and distribute the IMO Compendium on Facilitation and Electronic Business. The compendium provides essential guidance and standardised…
South Korea's big three shipbuilders are set to post over 8 trillion won (US$6.66 billion) in operating losses in 2015 because the industry has not found a way out of a prolonged slump, reports Yonhap. According to the industry data, the top three shipyards - Hyundai Heavy Industries Co…
The French State has implemented new provisions regarding tax exemptions on commercial vessels of at least 15 meters in length, including yachts. The provisions came into force on the 1st January 2016. These provisions can be found in…
Aquatic Engineering & Construction Ltd, an Acteon company, has marked 1 million working hours without a single Lost Time Incident (LTI). This milestone follows on from Aquatic’s achievement of 1,000 days without an LTI in December 2014. The…
Borets, a company in engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has named David Langley as North American HSE manager. Based at Borets’ U.S. corporate office in Houston, Langley will be responsible…
Independent naval architecture and marine engineering consultancy ICE has expanded the design facilities of its subsidiary in Galati, Romania and is recruiting 50 additional engineers to help deliver its order book, the firm announced today…