Melfort Campbell and Martin Jones have been appointed to strengthen the board of the National Subsea Research Initiative (NSRI). With impressive pedigrees in innovation and technology in the subsea industry, these new board members will…
Norwegian oil and gas firm Statoil plans to have 20 percent fewer employees by end-2016 compared to the beginning of 2015, its chief executive said on Monday.'Suppliers have to take their responsibility to cut costs. We are also taking our part in the restructuring…
China made its pitch to ASEAN members to promote its Maritime Silk Road plans. China has said it will finish negotiations on upgrading the China-ASEAN Free Trade Area called CAFTA by the end of this year, said Vice-Premier Zhang Gaoli. He…
The low demand on the high volume trade lanes is surely increasing the pressure on earnings which is already felt in the container shipping industry. This was one of the views that, BIMCO’s Chief Shipping Analyst, Peter Sand shared with…
The deep-river port complex in the southern province of Ba Ria-Vung Tau is still struggling to reach its designed capacity, says local media reports. The seven deep-water seaports have been built by the Cai Mep – Thi Vai Port Group in the…
Addressing the US - Liberia Trade & Investment Forum in New York City, APM Terminals Liberia Managing Director George Adjei points to a 30% increase in import container traffic at Liberia’s largest port as a reason for great confidence in Liberian investment…
New ship orders at Chinese yards have fallen 68.3 percent to the end of August as tough conditions prevailed in the global shipping market, Global Times reported quoting data from the China Association of the National Shipbuilding Industry (CANSI)…
The Australian Competition and Consumer Commission (ACCC) has raised concerns that Royal Dutch Shell's proposed $70 billion takeover of BG Group may lessen gas supply competition in eastern Australia and delayed a final decision on the bid to November…
IUMI – the International Union of Marine Insurance – at its annual conference in Berlin yesterday announced that global hull premiums for 2014 totalled USD 7.6bn, a 5.8% reduction from 2013. IUMI’s Ocean Hull Committee Chairman, Mark Edmondson…
Dry-bulk shipper Global Maritime Investments Cyprus Ltd. filed for chapter 11 bankruptcy protection New York Tuesday in order to liquidate its business due to a continued industry downturn, reports WSJ. The bankruptcy filing of the international shipping company came in New York…
China Merchants Holdings (International) Co. Ltd. along with Cosco Pacific Ltd., a unit of China Investment Corp. and Euro-Asia Oceangate will pay US$919.9 million to buy a 64.5% stake in Fina Liman from Fina Holding. Fina Liman is an…
South Korean shipbuilder Samsung Heavy Industries Co will try again to merge with sister company Samsung Engineering Co Ltd later this year, reports Korea Times. Samsung Engineering CEO Park Jung-heum has said he will once again pursue a merger talk…
Ten new medium range product tankers will join the fleet of state-owned Oman Shipping Company (OSC) in the next one year, taking the total strength of the fleet to 53 from 43 now, reports Times of Oman. According to the chief executive officer of Oman Shipping Company Tarik Mohammed Al Junaidi…
China is offering to build submarines for Egypt that are cheaper than vessels on offer from Germany, sources told Reuters, as Beijing looks to enhance weapons exports over a normal patron bottom in Asia. According to sources, Beijing has…
A China Ocean Shipping Company COSCO-China Shipping Container Lines (CSCL)merger makes financial sense, but would have huge implications for competition in the container shipping industry, according to Drewry Maritime Research. Drewry Shipping…
