Singapore Maritime and Port Authority (MPA) has condemned Iranian forces for firing warning shots in the Gulf at a Singapore-flagged Alpine Eternity which it said was in international waters, calling it a “serious violation of international law”…
Norway's Odfjell Drilling has secured a contract with VietGazprom to deploy 2011-built drillship Deepsea Metro I (UDW drillship) to Vietnam. The area of operation is in Blocks 130 and 131 offshore Vietnam. Contract commencement is expected to take place mid 3Q 2015…
Spanish boat MAPFRE led the Volvo Ocean Race fleet out of Newport, Rhode Island, and into the most challenging of the remaining three legs through the North Atlantic, reports AFP. Newport was the only North American stopover on this year's race…
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to date…
Antti Kaunonen has been appointed as Senior Vice President, Automation and Projects, Kalmar, part of Cargotec. Antti Kaunonen brings with him over 25 years of experience from industrial businesses and deep knowledge in automation. He…
Inmarsat today announced the appointment of MVS USA, a leader in mobile satellite communications and a founding Inmarsat Distribution Partner, as a Global Xpress (GX) Value Added Reseller (VAR) for the Maritime market, selling FleetBroadband Xtra and Fleet Xpress…
The largest container shipper in Taiwan Evergreen Marine Corp will work with China's COSCO Group and China Shipping Container Lines Co to launch shipping services between China and Indonesia later this month. The three partners will assign four 2…
With earnings, adjusted for amortization costs, profits came to 43 cents per share, Greece-based Dynagas LNG Partners LP (DLNG) exceeded Wall Street expectations. The company is looking into the opportunity of acquiring five LNG carriers…
Despite a modest recovery in earnings anticipated over the next two years, the dry bulk shipping market is not expected to return to profitability until 2017, says the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry…
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…
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…
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…
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…
New York-listed ship and barge Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter. The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share…
Cosco Pacific said it has seen no signs of a pick-up in the container leasing market, as oversupply continues to haunt the liner industry. Executive director Feng Jinhua said that the container leasing business has showed a down trend since 2012 and hovered at a low level…