Belships ASA, a leading shipowning company specializing in Ultramax vessels, reported solid financial results for the fourth quarter of 2024, showcasing the growth of its fleet and robust profitability amidst challenging market conditions.:Belships posted an EBITDA of $19.4 million and a net profit of $7.5 million for Q4 2024. Despite a softer freight market, the company achieved a time charter equivalent (TCE) of $15…
The Arab Shipbuilding and Repair Yard Company (ASRY) has been honored as the Repair Yard of the Year at the ShipTek International Maritime Conference and Awards 2025, held in Dubai last week. The company surpassed numerous regional competitors…
SANMAR signed a contract with PORT FLOT – BURGAS, one of Bulgaria’s leading towage companies, to build a multi-purpose tug to join its fleet, providing services in the Bay of Burgas.The new tugboat will be one of the Turkish tug-builder and…
East Africa Marine Transport has taken a significant step towards creating a more sustainable and efficient logistics solution for Lake Victoria with the commissioning of M.V. MPUNGU, the lake’s first scheduled roll-on / roll-off freight vessel…
McQuilling Services announced the release of its 28th anniversary edition, 2025-2029 Tanker Market Outlook.This 183-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes…
The future of the two insolvent German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, looks brighter as Lürssen Group moves to place a formal bid to take over the facilities of the Nobiskrug shipyard, while Heinrich Rönner Group agrees to buy the FSG…
HII announced today that Derek Murphy has been promoted to vice president of new construction aircraft carriers at its Newport News Shipbuilding division.In his new role, Murphy will have responsibility for all new construction aircraft carriers in production at the shipyard…
Navantia UK, a subsidiary of Spanish shipbuilder Navantia, has completed the acquisition of Harland & Wolff’s facilities in Belfast, Appledore, Methil and Arnish.Under Navantia UK’s management, all four facilities will benefit from extensive expertise in shipbuilding…
The hull of Lithuania’s first green hydrogen and electricity-powered ship has been launched by the Klaipėda State Seaport Authority.The tanker will accept waste from vessels entering the port when it enters operation later this year.The tanker’s main function is to collect storm water…
The Passenger Vessel Association's annual Maritrends Convention is underway in Savannah, GA against a backdrop of melting snow (really!) and an impressive gathering of industry elite. The event never disappoints, and this year's version has something for everyone…
Vestdavit has achieved a new sales record for the third successive year as its order intake hit an all-time high of Nkr380m in 2024, fueled by increased davit orders from its core naval market as well as the offshore energy sector.“It has been another fantastic year…
Freight rates for Russian ESPO Blend oil loading from the Far Eastern port of Kozmino have jumped fivefold amid a lack of vessels after fresh U.S. sanctions cut availability of tankers, three traders said and data showed.Higher freight costs…
“In 2024, new crude oil tanker deliveries dropped to a 36-year low as only 17 new tankers, with a capacity of 2.5m deadweight tonnes (DWT), joined the fleet. Compared to 2023, the capacity delivered dropped by 74%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO…
HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has received ABS approval in principle (AIP) for a tank design that enables large-scale hydrogen transport and storage.The vacuum insulation system from HD KSOE is designed to reduce the time required to create a vacuum in large tanks…
For all welding students who want to focus on education and training rather than the burden of paying for school, ESAB reminds students that the deadline to apply for AWS 2025 Foundation national, district, and section scholarships is March 1…
