China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ. The company wants to fulfill capacity commitments…
French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier. The world’s third largest container line says that its unit costs fell 10…
China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong…
The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn., Oct. 13-14.Big Data, connected ships and cyber security…
The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB Bank ASA and Nordea Bank Norge ASA acting as Coordinators, Mandated Lead Arrangers and Bookrunners and ABN AMRO Bank NV…
The Maritime Authorities of the Tokyo and the Paris Memoranda of Understanding (MoU) on Port State Control has launched a joint Concentrated Inspection Campaign (CIC) on Crew Familiarization for Enclosed Space Entry. The aim of the CIC is…
The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets in the Russian Federation (100% share of Prime Shipping group of companies). Prime…
NewLead Holdings Ltd.announced today a review of the commercial performance of one of its bitumen tanker vessels, the MT Nepheli since the vessel was delivered to NewLead's fleet.The Nepheli is a 2009-built bitumen tanker vessel of 3…
On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S. maritime industry with cutting edge economic and environmental efficiencies powered by liquefied natural gas (LNG)…
KVH Media Group, part of KVH Industries, Inc., added several new titles to its NEWSlink portfolio with the launch of four new daily editions – Romania, Bulgaria, Serbia, and Montenegro – focusing on the Balkans region.Each title covers the main daily political…
The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered by GE Shipping in July 2013 and has been built at Tsuneishi Heavy Industries (Cebu) Inc…
With 1,300 new Indian-built Ford automobiles loaded onto the Grand Dahlia on August 27th for delivery to Mexico, a new era for the Indian auto industry and Gujarat Port Pipavav commenced. The 59,217 gross ton roll on/roll off (Ro/Ro) vessel…
BIMCO, the world’s largest international shipping association is now calling for nominations for its prestigious awards, to be presented in Hamburg in November 2015. Angus Frew, Secretary General at BIMCO, said, “We are looking forward…
Damen Shipyards Group has delivered a Damen Fast Crew Supplier (FCS) 2610 workboat, named AOS SWIFT for the Atlantic Maritime Group on 20 August 2015. This is the first Damen Twin Axe vessel to be used in the Middle East for safe passenger…
Calnetix Technologies, LLC has published a White Paper describing new processes for producing supplemental power for a ship’s electrical load. The White Paper, entitled New-Technology Shipboard System Converts Heat from Engine Jacket Water into Electrical Power…