Today, the Panama Canal began accepting transit reservations for Neopanamax vessels for commercial transits through the Expanded Canal starting on June 27, 2016.In light of the upcoming Expansion inauguration date, the Panama Canal will offer four additional slots per day for Neopanamax vessels…
Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil…
The U.S. Department of Transportation’s Maritime Administration (MARAD) today awarded $4.9 million in grants to support capital improvements at nine small shipyards located throughout the United States. Provided through the Small Shipyard Grant Program…
Low oil prices are denting the take-up of liquefied natural gas as a cleaner source of energy to power ships, and it will be a few more years yet before the fuel makes serious inroads into the marine bunker market. The global shipping sector…
As the Korea government is pushing for restructuring of the faltering shipbuilding industry, speculation grows over a possible merger between the country’s two major shipbuilders — Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering…
To cope up with so much financial strain, Hong Kong-based shipbuilders China Ocean Industry Group – formerly known as China Ocean Shipbuilding Industry Group – is literally being turned into a parking lot, reports Bloomberg. China Ocean Industry Group Ltd…
The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports…
Hong Kong bulker Pacific Basin has proposed a one-for-one rights issue in a bid to raise approximately $150.6m for strengthening its long term equity capital. The shipping company plans to sell around 1.9 billion rights shares at a price of HKD0…
Italy went to the polls on Sunday for a referendum on off-shore oil and gas drilling rights, a complex issue that the government hopes voters will shun.For the ballot to be valid, more than 50 percent of the Italian electorate must vote…
An ambitious project to help mitigate the harmful effects of climate change has been kick-started by IMO with a call for formal expressions of interest to host centres to promote cooperation in the field of maritime technology.The joint IMO – European Union project…
Vedanta Limited, India’s only diversified natural resources company today received the ‘Letter of Award’ for Redevelopment of Berth No.8, 9 and Barge Berths at Port of Mormugao, Goa (‘Project’) on Design, Build, Finance, Operate and Transfer (DBFOT) Basis…
Indian Shipping Ministry is targeting to get investments worth $60 billion (nearly Rs 3.99 lakh crore) for a five-year term for 240 projects for the success of the ambitious Sagarmala project. The maiden Maritime India Summit 2016 in Mumbai…
As part of its aggressive plans for port-led development, Union Shipping and Ports Minister Nitin Gadkari said he is looking to add eight major ports to the already existing 12, according to a report by Press Trust of India. 'We are planning to add eight new major ports…
The future of Bob Dudley at the head of BP seems untarnished by shareholders' unusual rejection of his pay package as 99.6 percent of them also backed his re-appointment and trust him to lead the company through a period of weak oil prices. For the 60-year-old American…
The Australian Government today tabled its response to the Senate Foreign Affairs, Defence and Trade References Committee report, Inquiry into firefighting foam contamination Part A - RAAF Base Williamtown.As part of its response, the Australian…
