US authorities announced that South Korea's top shipbuilding conglomerate Hyundai Heavy Industries (HHI) will pay a US$47 million fine for illegally importing and selling dirty diesel engines in violation of American environmental rules.US Justice Department and and the U…
Global Ship Lease (GSL), UK-based holding company and containership charter owner, has now settled a five-year refinancing of its debt.According to the container ship owner, the new syndicated $268m credit facility is signed with a number of…
Global container terminals are expected to embrace automated decision making powered by artificial intelligence (AI) as they pursue ways to improve operational consistencies and enhance equipment utilization.According to TechValidate customer survey by Navis…
Dynagas LNG Partners LP, an international owner and operator of liquefied natural gas (LNG) carriers, announced it has secured a $675 million syndicated loan from leading international banks.The credit facility will be secured by mortgages on the partnership’s entire fleet of six LNG carriers…
Transnet National Ports Authority (TNPA) will secure two new workboats by 2022 to boost marine operations at the Port of Cape Town and ensure it is recognized internationally for excellence.The more powerful workboats are expected to improve…
With a rugged coastline and many fjords to cross, Norway has become a world leader in progressive ferry design. Turkey, with a skilled work force and broad marine experience has become a leader in ferry construction. Put the two together and…
The Finnish shipbuilder Rauma Marine Constructions (RMC) won the contract from the Finnish Ministry of Defence for the construction of four new Pohjanmaa-class naval vessels, for the total cost of EUR 1.3 billion.The design phase will resume…
Commodity trading company Vitol and the Mozambican state-owned oil and gas company ENH have formed ENH Energy Trading, a partnership focused on trading oil products.The Dutch energy and commodity trading company said in a press note that ENH…
Dutch energy and commodities group Vitol and South Korea's H-Line Shipping have executed a 10-year time-charter agreement for a newbuild, latest generation LNG carrier.The commodity trader said that the 174,000m3 vessel with XDF propulsion is…
New Zealand Port Nelson said that continued growth in cargo volume has contributed to the port's delivering an operating profit of $30.5 million for the 2018/2019 financial year.This is an increase of $3.4 million compared to the $27.1 million reported in 2018…
SunStone Ships oversaw the steel cutting of Ocean Explorer, the fourth Infinity-class vessel in the class, at China Merchants Heavy Industry yard in Haimen.With a goal of marrying European design and quality with Chinese ship-building efficiency…
Wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) has increased the amount of guarantees that qualify as 'green' to €1.25 billion ($1.4Bln) as they contribute to the United Nations Sustainable Development Goals (SDG).The deal…
China Merchant Heavy Industries (CMHI) held in Haimen a keel-laying ceremony for the Miami-based SunStone Ship's third Infinity-class ship, Ocean Victory.European aesthetic and design, and Chinese ship-building efficiency combine to produce…
A traditional maritime coin ceremony took place at the Fincantieri shipyard in Monfalcone, Italy, when the keel was laid for MSC Seashore. At the milestone event, MSC Cruises revealed details of the significantly transformed overall design and new features of the ship…
Alternative direct lender AURELIUS Finance Company has provided financing to support the buy-out of emergency management and offshore decommissioning company Ardent from co-owners Svitzer, a global towage operator, and Crowley Holdings, a holding…