The Bahamas Maritime Authority (BMA) has announced that for the 17th consecutive year, The Bahamas has been included on the Paris MoU port state inspection whitelist of flag state performance and has moved up six places, securing the number two spot…
APL, part of the CMA CGM Group, has announced the launch of the Bangkok Haiphong (RBH) service that will provide weekly connectivity between South China, Thailand and Vietnam.An express service from South China to Thailand, the RBH service will…
RigNet, Inc. announced that it has reached a settlement with Inmarsat Global Limited that concludes the GX Arbitration pending before the International Center for Dispute Resolution. Pursuant to the settlement, RigNet will pay Inmarsat $45 million immediately…
Venice should be put on the United Nations' list of endangered cities and cruise ships should be banned from its fragile lagoon to prevent an ecological disaster, Italy's main conservation group said on Monday.The call came less than a month…
NewbuildingMany Chinese companies have been stepping up in the bulker market with COSCO Shipping and Avic leasing placing orders at Chinese yards. Of the total 313 Bulkers ordered over the past year, nearly 40% have been Panamax vessels, demonstrating the hot market…
Vitol, the world's largest independent oil trader, has started building a small oil refinery at its storage terminal in Malaysia that will provide low-sulfur fuel for ships, a senior company official said on Monday.The project consists of a crude distillation unit that can process 30…
China's iron ore futures extended gains on Friday after touching a record high in the previous session, as concerns persisted over tight supply amid declining shipment from Rio Tinto and expectations of strong demand.Mining giant Rio Tinto on…
Europe's largest multimodal transport group by freight volume Samskip said it is fully prepared for a North Sea container traffic surge, as attitudes harden in the run up to October's revised Brexit deadline.The global logistics company offering transport and related services by land…
The 12.5m x 4.2m NAIAD RHIB Kibou recently commenced daily tours in Hawaii. The vessel was built by Armstrong Marine USA for Hawaii Experiences, which also operates the 40’ catamaran Mirai, built by Armstrong in 2017. Pacific Boats & Yachts…
VLCC spot freight rates between the Arabian Gulf and China rose 101% in the days between June 13, 2019 and June 20, 2019, in the aftermath of attacks on two tankers in the Strait of Hormuz. Spot freight rates for a VLCC, carrying 2 million barrels of oil…
Due to the success of our new Polar Class 6 ship, Hondius, Oceanwide Expeditions has ordered a sister ship built by the same manufacturer: M/v Janssonius is scheduled to be completed in October, 2021. She will have the same passenger capacity as Hondius (174)…
As of June 1, 2019, Bludworth Marine, LLC has relocated their corporate headquarters to Galveston, Texas. The new location, at 320 77th Street, is minutes from the Bludworth Marine 100' x 300' graving dock location and the Port of Galveston Pier 38 dockside location…
Fitch Ratings has assigned a 'AA' rating to the Massachusetts Port Authority's (Massport) approximately $460 million series 2019-B and C senior lien revenue bonds. The Rating Outlook is Stable. Key Rating DriversThe 'AA' revenue bond rating…
Port of Oakland Executive Director Chris Lytle is sounding an alarm over the trade war with China. The veteran maritime leader this week warned that tariffs imposed by both sides threaten the U.S. economy. He added that trade barriers could dry up his customers’ access to a major export market…
The global downturn in offshore energy is well recorded, a downturn which has had impact on various arms of the energy and marine supply chain. While Goltens has felt the downturn like many other companies, it is reporting 'cautious optimism'…