South Korea’s Hanjin Shipping Co. Ltd will work with lenders to restructure debt after years of weak demand resulted in losses and cash erosion, reports Bloomberg. The board of Hanjin Shipping decided to file for receivership and give creditors authority to manage the company…
South Korean companies are briskly moving to tap into Iran's fast-growing shipping industry, regarding the Iranian boom as a breakthrough to their prolonged business slump amid the global economic slowdown. According to IRNA, the head…
The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) has approved mandatory requirements for ships to record and report their fuel consumption, in a move that sends a clear and positive signal…
The International Maritime Organization (IMO) is leading a maritime security table-top exercise in Mombasa, Kenya (April 21-22) as part of the Organization’s continuing work to implement the Djibouti Code of Conduct. National officials…
Indonesian President Joko “Jokowi” Widodo has invited the Netherlands to invest in Indonesian infrastructure projects, particularly those that support Jokowi’s maritime sector development program, reports the Jakarta Post. In the maritime sector…
ExxonMobil and its employees contributed a total of $45.4 million to institutions of higher education across the country as part of the ExxonMobil Foundation’s 2015 Educational Matching Gift Program.ExxonMobil employees, retirees, directors and surviving spouses contributed $13…
A large number of Qatargas employees participated in the third annual Qatargas beach clean-up held on Saturday (23rd April) at Al Ghariya beach, 85 kilometers North of Doha.Qatargas launched the annual beach clean-up day initiative in 2013…
The new Scandlines ferry for the route Rostock-Gedser left the Danish shipyard FAYARD on Wednesday 20 April 2016. The vessel will be named M/V Berlin on Tuesday 3 May 2016. During the last couple of months the vessel has successfully completed…
ExxonMobil said today it has started production at its Point Thomson project, the first company-operated project on Alaska’s North Slope.Central pad facilities are designed to initially produce about 5,000 barrels per day of condensate and 100 million standard cubic feet per day of recycled gas…
Norwegian exploration travel company Hurtigruten, has signed a letter of intent for the construction of up to four new explorer ships with Norwegian shipyard Kleven. The order for delivery in 2018 and 2019 is a move to meet growing demand for adventure travel from travellers in the U…
Larson Electronics released a new multi-colored hazardous location LED signal light with a 110dBA audible horn. The HAL-TL-5X10W-C-PA from Larson Electronics is a Class 1 Division 2 hazardous location LED signal stack light equipped with an…
Members of the maritime community gathered last evening at the New York Athletic Club to honor three of its leaders: H. Marshall Ainley (President, Marine Engineers’ Beneficial Association), Ian T. Blackley (President & CEO, Overseas Ship Management…
European shipowners welcome the significant progress made this week at the 69th session of the IMO Marine Environment Protection Committee (MEPC). The basic features of a global CO2 data collection system have been agreed upon and further…
Researchers at UCL Energy Institute use the methodology they developed for the Third IMO GHG Study 2014 and AIS data to estimate emissions from five different ship types and display this in a new interactive map that plots 250 million data…
American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary. AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers…
