The executive committee of Euronav NV announced that it has signed a four-year extension on its $300 million senior secured credit facility originally signed in April 2009, which at the time of the extension had an outstanding of $221 million…
The Water Quality Insurance Syndicate said that Ryan Puttick joined the team as Assistant Vice President of Claims. He brings almost a decade of extensive marine insurance claims knowledge and experience to this industry pioneer.“We are extremely excited to have Ryan join us…
The U.S. Department of Transportation’s Maritime Administration (MARAD) said that the nation’s shipyards support $36B in gross domestic product, as part of a report on the U.S. shipbuilding and repair industry issued today. Acting Maritime Administrator…
Douglas-Westwood (DW) forecast offshore wind installations averaging 3.2 GW per year over the next ten years with capital expenditure hitting a peak of $24.1B in 2016. The fifth edition of DW’s World Offshore Wind Market Forecast launched today…
For the second year in a row, the U.S. House Energy & Water Subcommittee, chaired by Rep. Rodney Frelinghuysen (R-NJ), has approved a $1 billion draw from the Harbor Maintenance Trust Fund. The money is for maintaining America’s deep-draft…
Reference is made to the stock exchange announcement of 6 May 2013, in which Odfjell announced its signing of the definitive agreements to expand existing joint venture with Lindsay Goldberg to include substantially all of the Odfjell's tank terminals business globally…
Drewry’s latest Tanker Insight reports that freight rates in most vessel categories remained on the softer side during the month due to weakness in chartering activity in the major loading regions barring Arabian Gulf. The same was reflected…
South Korean shares rebounded Tuesday from the prior session's fall as local institutions rushed to hunt for bargains on views that the recent decline was excessive. STX Group shares benefit from the rebound.STX group shares ended bullish…
The National Shipbuilding Research Program (NSRP) plans to issue a research announcement in August, 2013 & in the meantime issues this pre-solicitation notice in order to facilitate teaming arrangements.In making this announcement NSRP aims…
New data from The National Marine Manufacturers Association (NMMA) show 88 million Americans expected to take to U.S. waterways this summer.NMMA add that recreational boating in the U.S. has an annual economic value of $121-billion. The industry’s rising tide supports 964…
Global law firm White & Case LLP announced the availability of a new report, 'Restructuring & Beyond: The marine industry's routes to safety.' The report focuses on survival strategies for those affected by the industry's downturn as well as emerging opportunities for companies…
The European Investment Bank (EIB) has granted a EUR 150 million loan to Wärtsilä to finance the company's research, development and innovation (RDI) activities in several European countries. The contract for the 10-year loan was signed in Helsinki…
Ocean carriers’ plans to get rid of surplus 8,000 teu vessels by dumping them into the Asia – East Coast of S. America tradelane appears to have seriously backfired.The recent launching of MSC’s new Ipanema service in the middle of April,…
Portugal’s new oceanographic survey vessel is to be donated by Norway and equipped by funding under the EEA Grants programme.The announcement was made recently by Portugal's Assunção Cristas, Minister for Agriculture, the Sea, the Environment and Land Planning…
The Baltic Exchange advises panellists that with the prevalence of 'slow steaming' they should assume that if steaming at 12kts laden/13kts ballast, Capesize vessels will consume 44 tonnes per day (NDAS).The London market exchange has provided…
