The Royal Australian Navy operated Sail Training Ship Young Endeavour set sail from Sydney today for a 12-month voyage, circumnavigating the globe.Parliamentary Secretary to the Minister for Defence, Darren Chester, attended the departure from Fleet Base East…
Top ship recycling experts from around the globe gathered in Tokyo on December 10 at the ClassNK Ship Recycling Seminar to discuss the latest updates to the EU Ship Recycling Regulation (EU Regulation), the classification society announced. Members from Japan’s Ministry of Land…
After six years Gerd Drossel will hand over his position as Managing Director of the Hamburg Cruise Center association. Nadine Palatz will be succeed Drossel as Managing Director of the Board of Directors. Drossel has managed the administrative office of the Hamburg Cruise Center e…
On December 9, 2014, Nordic American Tankers Ltd. announced that preliminary contracts had been entered into with a South Korean shipyard, for the construction of two suezmax tankers to be delivered in the third quarter 2016 and first quarter 2017…
Military planes loyal to Libya's recognised government attacked on Sunday an opposing force that is seeking to seize the country's two biggest oil ports, officials said. The advancing force, which is allied to a rival government based in Tripoli…
ritain is considering reducing the tax bill for oil explorers in the North Sea, including a proposal from the industry to halve rates, to help revive an area already in decline before the recent oil price falls, the Sunday Times said. Talks…
Guy Harvey stared at a mural of his marine paintings - images that are reproduced on 2 million T-shirts a year - and frowned at a butterfly fish. The Pacific species didn't belong among the Florida wildlife depicted at a beach resort restaurant bearing his name…
Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said. The strike briefly halted activity at the ports of Timbues…
Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway DNV GL president and CEO Henrik O. Madsen was appointed as chairman of the executive board of the Research Council of Norway. The executive board is the Research Council’s highest authority…
Fitch Ratings has published the latest version of its criteria for rating oil vessel backed financings in Latin America. This report updates and replaces the prior criteria of the same name dated Jan. 14, 2014. There have been no substantial changes from the previous version…
Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an LR2 or an MR2? What is the historical rate of return for these tankers? Which tanker class is the riskiest…
New Zealand's Transport Accident Investigation Commission (TAIC) published its final report into the grounding of containership Rena in October 2011. The TAIC’s investigation found that the grounding was a result of improper crew practices,…
The U.S. Maritime Administration (MARAD) released what it is calling a first-of-its-kind public database that chronicles U.S.-flagged, privately owned domestic articulated tug-barge (ATB) and integrated tug-barge (ITB) vessels. In the report…
Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping company Compañía Sud Americana de Vapores (CSAV). As planned, CSAV subscribed to EUR 259 million (approximately $316…
In an effort to make the pilotage market more efficient, the Danish Maritime Authority (DMA) issued several new regulations following on amendments to the pilotage act. A number of DMA measures to launch January 1, 2015 will target simpler regulation of the pilotage area…
