Baltic Trading Limited, a Marshall Islands company formed by Genco Shipping & Trading Limited, reported a loss of $42.4 million in its first quarter. The New York-based shipping company focused on the drybulk industry spot market said it had a loss of 75 cents per share…
The booming VLCC tanker market has started to be reflected on the companies’ earnings and is “firing on all cylinders” and it is set to continue Poten & Partners say in their weekly report. The boom is evident by the rather impressive first…
Suez Canal Authority said it controlled a blaze in a British container ship passing the waterway Friday, leaving no human losses. An ultra-large container ship owned by Hanjin Shipping caught fire while underway just south of the Suez Canal on 1 May…
Suezmax tankers are looking good for a strong 2015 year, before posting a mild downside during 2016, but are poised to accelerate yet again in 2017 on rising deliveries, said shipbroker Charles R. Weber in its latest weekly report (Ref. Weekly…
The Maritime and Port Authority of Singapore (MPA) and the Dredging International Asia Pacific-Daelim Joint Venture (DDJV) have inked a contract for the USD 1.83 billion Tuas Terminal Phase 1 Reclamation, Wharf Construction and Dredging Project…
GAIL India is all set to stop LNG imports at the Dabhol terminal in Ratnagiri district of Maharashtra from this month as the onset of monsoon will make operations difficult without a breakwater, says a PTI report. The terminal cannot be…
Thuraya Telecommunications Company today launched the industry's most advanced satellite phone, the Thuraya XT-PRO. Targeted at professional users across a range of market sectors including government, energy, media and NGOs, the Thuraya XT-PRO is the only satellite phone to feature built-in GPS…
ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after eight years as Chairman of the Board of Directors. The award is intended to encourage…
Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.An industry guideline, which is issued today…
The 2014 Maritime Innovation Award, given jointly by the Royal Institution of Naval Architects and QinetiQ, has been presented to Subsea Industries for the product Ecolock.The Maritime Innovation Award is presented to an individual or…
Panama’s cabinet council has approved a request by the Panama Canal Authority (ACP) to modify the canal toll structure and implement volume-based discounts for container ships. The new toll schedule will take effect April 1, 2016. New tolls apply to all lanes…
Up to 157.260 million cubic meters of water-saturated sand have been dredged so far as part of the Suez Canal Development Project, said executive director supervising the dredging process Wagdi Zaki, according to a statement by Egypt State Information Service (SIS)…
BP Shipping celebrated its 100-year anniversary yesterday, making it the longest continually operating company in the group. Formed on April 30, 1915 as the British Tanker Company, the business has contributed to two world wars, the Great Depression…
International Container Terminal Services, Inc.’s (ICTSI) Subic Bay Freeport unit, Subic Bay International Terminal Corp. (SBITC), in partnership with the Subic Bay Metropolitan Authority (SBMA) and the Bureau of Customs (BOC), recently opened…
It's a career-defining moment for 36 college and university faculty April 30, as the Department of the Navy announces the recipients of its 2015 Young Investigator Program, one of the oldest and most selective scientific research advancement programs in the country…