Intensifying crackdown on corruption China’s National Audit Office released an audit report for state-run shipping conglomerate Cosco Group in which it has uncovered substantial financial irregularities. The report found that Cosco had…
Ro-ro cargo vessel Kvitbjørn ran aground off Ulsteinvik port, Norway, in the afternoon June 28, while approaching the port. The vessel, owned by Norway-based Nor Lines, was refloated at 2145 LT same day with the help of tugs at high tide…
Dalian Shipbuilding Industry Corporation (DSIC) has announced an order win for two 319,000 dwt VLCCs and five 72,000 dwt product tankers from Cosco Dalian, the tanker shipping arm of China Cosco Group. The financial details of contract were not disclosed…
COSL Drilling Europe is reportedly being forced to make 229 rig staff redundant as a result of Statoil’s decision to cancel the charter for semi-submersible unit COSL Pioneer. Statoil announced the termination of contract since 8 October 2014…
Cheniere concluded its maiden LNG spot trade earlier this week at for late-July delivery to an Asian buyer, reports Platts quoting a source with direct knowledge of the deal. Sources told Platts that the maiden trade was completed at $7…
China has again deployed the Haiyang Shiyou 981, a semi-submersible oil platform which caused a standoff between Chinese and Vietnamese vessels last year, to the disputed South China Sea region, reports local media. China has brought the…
The Maltese government is all set to set to transform the ex-Malta Shipbuilding site into a service hub for the oil and gas industry, directly employing 160 people while paving the way for Malta to benefit from growing business in the Mediterranean region…
The intervention of China in the Arabian Sea is increasing with each passing day. China's deadliest attack submarine crept past Indian waters and docked in Karachi. China had made similar visits to Colombo over the last one year, sparking further concerns in the Indian security establishment…
Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels. It was confirmed that China’s Cosco has sealed deals for nine plus four options on 20…
Abu Dhabi Ocean Racing won the Volvo Ocean Race (VOR), despite pulling into the port of Gothenburg, Sweden, in fifth place on Monday. The Emirates team, skippered by Walker, triumphed in the nine-month triennial race after finishing fifth in the ninth leg from Lorient to Gothenburg…
A group of 27 Danish institutional investors say they will launch a legal action against the former management of OW Bunker, a shipping company that filed for bankruptcy last year just six months after listing, and the private equity firm that brought the company to market…
Victorian Labor is ramping up the pressure on Matthew Guy's Coalition over its decision to block the sale of the Port of Melbourne, reports The Age. Victoria’s plans to raise $6bn by selling the port of Melbourne are in jeopardy: the opposition refuses to support legislation for its sale…
In pursuit of India’s ‘Look East’ and ‘Act East’ policy, the Indian Navy’s Eastern Fleet ships under the command of Rear Admiral Ajendra Bahadur Singh, VSM, Flag Officer Commanding Eastern Fleet (FOCEF), are on a two month long operational deployment to South East Asia and Southern Indian Ocean…
A number of environmental groups are asking the Department of the Interior to rescind permission Shell has been granted to begin exploratory drilling in the Arctic this summer because the company's plan would not protect the walrus.Shell's…
Container handling equipment has reached the era of automation. On the services side, digitalisation is now the leading theme throughout the customer lifecycle. But does digitalisation automatically lead to better services?Service businesses…
