An Italian merchant ship rescued 26 migrants off the coast of Libya in rough seas and others were feared missing, the Coast Guard said on Saturday.The Coast Guard received a call from a satellite telephone on Friday but no voice was heard…
JPMorgan Chase & Co disclosed on Friday that its 'criticized' loans to the oil and gas industry more than doubled in the first three months of the year.Criticized oil and gas loans, which are defined by regulators as doubtful, substandard or deserving of special mention…
A water bus on the river Scheldt. Since the announcement by port alderman Marc Van Peel several months ago that Antwerp Port Authority is to introduce this new and above all sustainable transport service, lots of hard work has been going on…
On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.Symphony Sun is a vessel of our ‘Ecobox’ design, which is…
An important addition to any commercial vessel’s survival gear kit, the Pathfinder PRO SART is introduced by ACR Electronics, Inc. at this year’s OTC. The new search and rescue transponder expands the broad range of commercial maritime survival products offered by ACR…
Gangavaram Port, the deepest and the most modern port in the country, has created yet another historical milestone record by discharging 1,56,339 metric tons of Non-Coking Coal from the vessel M.V. Cape Asia in 24 hours. This achievement stands…
The Port of Seattle begins the 2016 cruise season welcoming the first ship call, Holland America Cruise Line’s Nieuw Amsterdam. Larger vessels and more cruises will make this the biggest cruise season ever with nearly one million revenue passengers…
Det Norske Oljeselskap ASA slumped to an operating loss in the first quarter on significantly lower revenue. The company reported a revenues of $ 205 (Q1 2015: USD 329) million in the first quarter. Production in the same period was 60,600 barrels of oil equivalent per day…
For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report. However, at the same time, much of the oil surplus was being absorbed…
The Panama Canal has dismisses claims by the International Transport Workers’ Federation (ITF) that questions industry standards and the operation of the Expanded Panama Canal’s new locks. Claims made by ITF that new locks built for the…
The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa this is even more the case due to less developed land infrastructure. European…
The world’s oceans must be managed well to ensure the potential of an “ocean economy” that was worth US $ 1.5 trillion in 2010. 'Calculations based on the OECD’s Ocean Economy Database value the ocean economy’s output (measured in terms…
Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is 'on target' to lay off a total of 8000 workers by the end of 2016, up from a previously stated goal. Chevron reported a net loss of $725 million…
Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client to work on a renewable energy project. The vessel, with the length of 92.55 meters, will be employed in the renewable energy sector…
A new shipping company has established itself in Vancouver as the Vancouver International Maritime Centre (VIMC) completes its Asia tour, launching in Tokyo, Singapore and Hong Kong. Greystoke Marine Management Ltd. is the latest company to choose Vancouver for its base of operations…
