The cost of shipping crude surged to all destinations, amid speculation that bookings are increasing to load crude. According to a report in Bloomberg, the oil tanker rates soared to the highest in seven years amid an acceleration in the…
The Economou family's TMS Cardiff Gas Ltd. has exercised options on its contracts with Hyundai Heavy Industries of Korea for the construction of an additional two 78,700 cbm LPG carriers. Both vessels are scheduled for delivery in Q4 2017…
CMA CGM has secured the necessary financial backing to proceed with an acquisition of Singapore's Neptune Orient Lines (NOL), Reuters reports, citing two people said to be familiar with the matter. The French shipping giant is reported to have received “firm commitment” from lenders HSBC…
Maersk Line has announced a new direct service with short transit time from West Coast South America to Japan for dry and reefer cargo. In our continuous efforts to provide our customers with a competitive and fast connection from West Coast South America to Japan…
Four years after launching a dedicated service into Papua New Guinea, Maersk Line is one of the key carriers in this fast growing Pacific country, claims Social Media Community of Maersk Line. Papua New Guinea occupies the eastern half…
A consortium composed of Teekay LNG Partners L.P., Samsung C&T (Samsung) and Gulf Investment Corporation (GIC) executed today with the Government of the Kingdom of Bahrain the project agreements for the development of an LNG receiving and regasification terminal in Bahrain…
The gloomy outlook for the dry bulk shipping market continues to afflict shipowners and the market is not expected to return to profitability before 2017, according to the Dry Bulk Forecaster report published by global shipping consultancy Drewry…
The IMO has just closed its Assembly meeting in London, which is held every second year. A number of important items were on the agenda, including the IMO work programme and budget for the 2016-17 biennium as well as the Organization's work…
Press release - Ecoslops, the first company to develop technology to produce recycled marine fuels from marine oil residues (‘slops’), has announced that it has sold its first volume of marine fuel, as well as importing a new shipment of slops to its refinery at the Port of Sinès in Portugal…
Inchcape Shipping Services (ISS) is advising of a further 24 hour general strike in Greece on December 3 which is expected to affect vessel movements at many Greek ports and terminals.The public and private sector strike action is scheduled…
MacGregor, part of Cargotec, and Maersk Line, part of the Maersk Group, have agreed to cooperate on the development of the next generation of container securing systems. MacGregor, leading provider of cargo and load handling solutions, and…
Globus Maritime reported loss in Q3 results amid depressed dry bulk rates though it remains cautiously optimistic on China’s economy and expects demand for dry bulk commodities to remain strong. Total comprehensive loss for the third quarter of the year 2015 amounted to $2…
Sembcorp Marine, one of the world's largest offshore drilling rig producers, expects to record a net loss for the fourth quarter ending December, due to the challenging operating environment and customers deferring or seeking to defer their rig orders…
Market-led solution reduces shipping’s carbon dioxide emissions. Ahead of COP21, 26 of the 35 charterers that include vessel efficiency in their supply chain selection have come forward to highlight their proactive measures on climate change…
Press release - North Star Shipping has won a prestigious Sword of Honor from the British Safety Council. The company, which has the largest, wholly-owned British fleet engaged in the UK offshore industry, is a division of the family-owned global shipping and energy services firm…
