Freight rates for very large crude carriers (VLCCs) could face drop further next week on excess tonnage supply and lower cargo volumes, reports Reuters. A Singapore based VLCC broker said that there’s no upside. Rates will either be flat or on the downside…
The Commission voted at its meeting 22nd October to issue a final rule on ocean transportation intermediary (OTI) licensing and financial responsibility requirements, and directed staff to prepare an advanced notice of proposed rulemaking…
Press release - Royal Caribbean Cruises (RCC) President and COO Adam Goldstein and U.S. Maritime Administration (MARAD) Administrator Paul Jaenichen, together with a host of port authority, shipping and cruise line executives, and freight transportation coalition and consulting experts…
Oslo based BW Fleet Management have chosen to sign a 3 year “BuyerLink” Service contract with EVRY, to use the MarineLink Service and run in parallel with their other eCommence providers who integrates directly with their Oracle EBS Purchasing application…
Press relase - Bureau Veritas has issued Design Approval for the new Mark V LNG membrane containment system designed by France’s GTT. This clears the way for the system to be used in new LNG carriers and FLNGs. The Mark V technology is an optimized version of GTT’s Mark III system…
Press release - The London P&I Club has recommended that ship owners and operators keep a good-quality digital camera on board their vessels as part of their attempts to collect and preserve evidence in the event of claims arising, particularly as a result of damage to fixed or floating objects…
Korean Register (KR) - an IACS member classification society – was selected as the very first recipient of the new ‘K-Award’ launched at the KORMARINE Conference 2015 in Korea.The ‘K-Award’ recognizes organizations or individuals for their…
Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha plans to halve its current long-distance shipping fleet, reports Nikkei. The debt-ridden shipowner under civil rehabilitation proceedings, also plans to improve profitability by updating charterage to shipowners…
Ulstein Verft launched from its dock hall a special offshore construction vessel, Yno 302, for Island Offshore and Edison Chouest Offshore. The newbuild measures close to 160 m in length with at beam of 30 m, making it the largest offshore vessel built at Ulstein Verft to date…
For shipping companies operating in emission control areas (ECAs), liquefied natural gas (LNG) represents an attractive bunkering alternative. 'The lower cost of LNG bunker fuel than other variants of ECA-compliant fuels in Europe and…
United Arab Shipping Company (UASC) has received the ‘Environmental Responsibility’ award and ‘The Shipping Company of the Year’ award at this year’s Seatrade Maritime Awards for Middle East, Indian Subcontinent and Africa. UASC’s Chairman H…
The fourth European lifeboat crew exchange attracted members from 13 countries – two more than last year – who shared experience on how to help reduce the numbers of people losing their lives in Europe’s waters. Set up by the International…
Press release - Shipments of limestone on the Great Lakes totaled 3.3 million tons in September, a decrease of 8 percent compared to a year ago. The decrease came almost entirely at Canadian quarries. Shipments from the three quarries fell 257…
Hutchison Port Holdings' (HPH) Hong Kong assets marked a significant milestone with cumulative throughput of 200 million teu. Congratulating HPH Trust on this important chapter in the history of Hong Kong’s container port industry, Secretary…
German Government-backed project could mark the start of a series of vessel conversions. Wessels Reederei has received a government grant to convert one of its container ships to liquefied natural gas (LNG). The company said it has received…