Hyundai Glovis, a logistics company headquartered in Seoul and part of the Hyundai Kia Automotive Group, has secured 1.42 trillion won (US$1.3 billion) in orders to ship vehicles, said a report in RTT News. The auto freight unit of South…
The annual handling capacity of Shanghai Port surpassed 40 million TEUs (twenty-foot equivalent units), breaking an existing world record, the Chinese state media reported. Xinhua quoted the Shanghai International Port Group saying that…
South Korean shipyards have sharply raised their order targets for next year on expectations that the shipbuilding sector will improve, Yonhap reported. The country's three major shipyards - Samsung Heavy Industries (SHI), Daewoo Shipbuilding & Marine Engineering (DSME)…
Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company announced end of June 2017 to have entered into a contract with Total E&P…
NYK and NYK Group companies MTI Co. and Japan Marine Science released partial findings of a study on collision risk judgement and the autonomous operation of vessels. Representatives from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)…
Triyards Holdings, the offshore marine division of Ezra Holdings, has swung deep into the red following the termination of two shipbuilding contracts worth some $51 million. 'The Board of Directors of Triyards Holdings wishes to announce that its wholly owned subsidiary…
Guyana's Minister of Natural Resources, Raphael Trotman said while there is no perfect contract, the government is comfortable with the terms and conditions spelt out in the Stabroek Petroleum agreement between itself and ExxonMobil and prefers a long-term…
Pankaj Khanna has been appointed as President and Chief Executive Officer of Ocean Rig UDW, a global provider of offshore deepwater drilling services, effective January 1, 2018. Khanna is 47 years old with 29 years of varied experience in the maritime & offshore industry…
Titan LNG says that the stage has been set for a push in the adoption of LNG as a marine fuel beyond the tipping point. The order book for LNG-powered ships grew substantially, the LNG bunkering infrastructure is maturing and the pricing of LNG has become structurally competitive versus MGO…
Yang Ming Marine Transport Corporation will establish a subsidiary in Thailand - Yang Ming Line (Thailand) Co., Ltd. The new company will provide all services starting 1st January 2018. Mr. Derek Chen is officially appointed as its President…
U.S. oilfield services company Weatherford International Plc on Friday sold a U.S. oil-well business to rival Schlumberger NV for $430 million, abandoning a planned joint venture. Weatherford has struggled with losses and has been looking to sell units and raise cash to reduce about $7…
Ocean Yield ASA is currently in negotiations regarding further investments in modern vessels with long term charters, said the company. In a press release, Ocean Yield said that the investments are still subject to board approval and agreement on documentation…
The Chairman of Azerbaijan Caspian Shipping Company (ACSC) Rauf Veliyev and Konstantin Anisimov, the General Director of Moscow River Shipping Company (MRSC) signed in Baku a memorandum of cooperation in cruise shipping in the Caspian region…
Following the success of the Day One products introduced earlier this year, Orient Overseas Container Line Limited (OOCL) announced the forthcoming launch of the second phase of the OCEAN Alliance products in April 2018, an improved suite of…
In line with the recent approval by the Federal Executive Council (FEC), the Nigerian Maritime Administration and Safety Agency, NIMASA is set to acquire strategic maritime safety and security assets, which are also in line with the total spectrum of maritime security strategy…
