Iran's oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements over sea worthiness by potential foreign clients, despite easing of sanctions, reports Reuters…
TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard. TORM has demonstrated its financial and strategic…
Minister of Petroleum, Bijan Zangeneh said that Iran and Belgium are in talks for possible floating production of liquefied natural gas (LNG) FLNG Unit off the Kharg Island in the Persian Gulf. The issue was brought up during Zangeneh’s talks with Belgian Secretary of State for Foreign Trade…
Nippon Yusen Kaisha (NYK) concluded a time-charter contract for a new VLGC (very large gas carrier) with Astomos Energy Corporation, the world's pre-eminent liquefied petroleum gas (LPG) company. The new VLGC will be built by Mitsubishi Heavy Industries Shipbuilding Co…
A new report from The Swedish Club shows that incorrect maintenance and repair continues to be the most frequent cause of main engine damage – a trend which has continued unabated since the Club began monitoring the issue nearly ten years ago…
Good positions in a market that exceeded expectations gave Concordia Maritime part of Sweden’s Stena Group, a very strong quarter for the season. It recorded after-tax income of SKr52.4M ($6m) for the third quarter, a dramatic turn from a SKr27m loss the same period a year ago…
The Industrial and Commercial Bank of China (ICBC) has signed a financing agreement with Germany shipping company F.Laeisz GmbH. Under the agreement, the ICBC will provide 65 million U.S. dollars in export buyer's credit for F.Laeisz GmbH's…
A federal jury in Mobile, Alabama, has convicted Det Stavangerske Dampskibsselskab AS (DSD Shipping) and three employees with obstructing justice, violating the Act to Prevent Pollution from Ships (APPS), witness tampering and conspiracy, announced Assistant Attorney General John C…
Caterpillar Inc. Group President of Energy & Transportation Jim Umpleby and Director of Investor Relations Rich Moore will speak at the Baird 2015 Industrial Conference on Wednesday, November 11. They are scheduled to speak at 11 a.m…
Seaspan Corporation announced that Sai Chu, Chief Financial Officer, has informed of his resignation and retirement from Seaspan effective November 6, 2015, after more than 10 years' of service with Seaspan and related entities.Gerry Wang…
Glander International Bunkering, a leading marine fuel, lubricant trading and brokering company welcomes Joshua Hawkins as Bunker/Lubricant Trader and Team Leader for the Geneva office. Joshua Hawkins brings five years industry experience…
The Indian seafarers celebrate 6th November as the Seamen’s Unity Day. The National Union of Seafarers of India (NUSI) commemorated the occasion as is done annually on the 6th of November, which is also a paid holiday for seafarers working on Indian and foreign flag ships…
Essar Shipping, one of India’s leading shipping companies, today said that it has won the prestigious Diamond Category Award for “Line of the Year (Dry Bulk)” at the recently held Samundra Manthan Awards 2015. The company was bestowed this…
The UK’s £10bn shipping industry has called the push toward closer union in Europe “distracting” and told the European Commission (EC) to stop interfering with the sector’s globally produced regulations. This is the gist of study on the…
London-listed Goldenport Holdings has sold a 2009-built bulk carrier to Zenith Shipping LP of Majuro, Marshall Islands. The 2009-built Alpine Trader was sold for a gross cash consideration of $9.3m and delivered to its new owners on November 5…