Freight rates for very large crude carriers (VLCCs) could face drop further next week on excess tonnage supply and lower cargo volumes, reports Reuters. A Singapore based VLCC broker said that there’s no upside. Rates will either be flat or on the downside…
The Commission voted at its meeting 22nd October to issue a final rule on ocean transportation intermediary (OTI) licensing and financial responsibility requirements, and directed staff to prepare an advanced notice of proposed rulemaking…
Press release - Royal Caribbean Cruises (RCC) President and COO Adam Goldstein and U.S. Maritime Administration (MARAD) Administrator Paul Jaenichen, together with a host of port authority, shipping and cruise line executives, and freight transportation coalition and consulting experts…
Press release - Like many other goods-movement interests, America’s seaports are pleased to see new freight provisions contained in the Surface Transportation Reauthorization & Reform Act of 2015 (STRR; H.R. 3763), which House Transportation…
The head of U.S. oil company ConocoPhillips on Thursday renewed a call for the Obama administration to lift a ban on crude exports to help revive the struggling domestic energy industry, saying the move was 'number one on my wish list.'The…
Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha plans to halve its current long-distance shipping fleet, reports Nikkei. The debt-ridden shipowner under civil rehabilitation proceedings, also plans to improve profitability by updating charterage to shipowners…
The Bahrain National Oil and Gas Authority (NOGA) will award a $400 million Liquefied Natural Gas (LNG) terminal contract next month, Energy Minister Abdulhussain Mirza told local media this week. The LNG terminal will be constructed near Khalifa Bin Salman Port…
Greece and the US are likely to reveal a joint venture to develop a liquefied natural gas (LNG) terminal when US Secretary of State John Kerry makes an official visit to Athens in November. According to a local news report in eKathimerini…
Shipping rates in New Zealand waters have become 'unsustainably low' in the wake of supply chain agreements such as between Kotahi and Port of Tauranga, NBR reports as South Port New Zealand chairman Rex Chapman saying. The company's…
Braemar (incorporating The Salvage Association) has appointed Brian Armour as Senior Maritime Civil Engineer within its Ports & Harbours division.Brian will be based in the Singapore office and has many years’ experience in the design, analysis…
In a bid to prepare for the lift of economic sanctions placed on the country, Iran has unveiled a $120 billion fleet expansion campaign. Mohammad Saeidi, Head of the Islamic Republic of Iran Shipping Lines (IRISL), said that the company seeks to purchase 579…
United Arab Shipping Company (UASC) has received the ‘Environmental Responsibility’ award and ‘The Shipping Company of the Year’ award at this year’s Seatrade Maritime Awards for Middle East, Indian Subcontinent and Africa. UASC’s Chairman H…
The Northern Territory (NT) Government in Australia announced the successful bidder for the Port of Darwin – Landbridge Group, based in the People’s Republic of China. Chinese privately owned energy and infrastructure conglomerate Landbridge…
EMC has appointed several established executives to its global leadership team to further enhance its delivery of mission-critical communications and content to top organizations around the world.EMC has appointed Tom Severson as chief financial officer (CFO)…
GAC is strengthening its strategic focus on the Asian Pacific energy sector with the appointment of Lailah Soon as Regional Business Development Manager, Oil & Gas.Soon has more than a decade of experience in the oil & gas logistics sector in Singapore…