Crude oil tanker market sentiment weakened in April as average spot freight rates dropped on most reported routes, OPEC said in its latest monthly report. On average, dirty tanker freight rates were down 8% from the month before. Despite a stronger market seen in the VLCC sector…
The Indonesian Navy has taken delivery of a French-made KRI Rigel 933 multipurpose research vessel at Jakarta International Container Terminal 2, Tanjung Priok, North Jakarta, Jakarta Post reported. The ship was delivered from the OCEA Les Sables d'Olonne shipyard in France…
The 12th International Marine Design Conference (IMDC) was held in Tokyo from May 11-14, hosted by The Japan Society of Naval Architects and Ocean Engineers, and sponsored by The Shipbuilders' Association of Japan and ClassNK. IMDC is a…
Hempel kicked off the group’s centenary celebrations and invited customers from Greece, Bulgaria, Cyprus and Romania to a party in Athens’ Acropolis Museum on Saturday, May 9. Hempel has had a permanent presence in Greece since 1952 as Hempel Hellas General Manager…
The United Nations shipping agency on Friday adopted stricter safety and environmental provisions for vessels operating in Arctic and Antarctic waters after years of negotiations. As ice melts, shipping traffic through the regions is set to increase…
International Transport Intermediaries Club (ITIC) says recent claims experience demonstrates that naval architects need to be aware of the need to protect against their exposure to liability for damages resulting from errors in design work…
The Navy's 2014 Sailors of the Year (SOY) were meritoriously advanced to chief petty officer during a ceremony held at the Navy Memorial, May 14.Chief of Naval Operations Adm. Jonathan Greenert served as guest speaker at the pinning ceremony…
Volvo Penta is the official engine supplier for the 2014-2015 Volvo Ocean Race, which is having its North American stopover in Newport, R.I., this week. “The Volvo Ocean Race serves as a crucible for developing and testing new technologies that will benefit the entire marine industry…
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…
16 deserving students were awarded with the Howe Yoon Chong PSA Scholarship. Mr Fock Siew Wah, Group Chairman of PSA International (PSA), presented the award certificates to the students at a ceremony held in PSA Building in Singapore today…
Iranian patrol boats opened fire on a Singapore-flagged oil tanker as it moved through the Strait of Hormuz in a confrontation, reports Reuters.The Alpine Eternity, a ship flagged to Singapore, fled toward the shore of the United Arab Emirates…
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…
Robert Goodwill, MP for Scarborough and Whitby, has been named as the UK’s new shipping minister. As Shipping Minister, he will have responsibility for completing the Maritime Growth Study.Earlier he was appointed as Parliamentary Under Secretary of State for Transport on Tuesday…
Gas Authority of India Limited (Gail) and Indian Oil Corporation (IOC) signed a memorandum of understanding (MoU) to join Adani Group promoted Rs 5,000-crore ($805 mln) Dhamra LNG Port (DPCL) project on the Odisha coast. The MoU comes within…
Israeli President Reuven Rivlin visited the shipyard in Kiel and toured the ‘INS Rahav’ the fifth submarine due to be delivered to the Israeli Navy. INS Rahav is the fifth submarine expected to arrive in Israel in the coming year. The INS…