For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report. However, at the same time, much of the oil surplus was being absorbed…
A new shipping company has established itself in Vancouver as the Vancouver International Maritime Centre (VIMC) completes its Asia tour, launching in Tokyo, Singapore and Hong Kong. Greystoke Marine Management Ltd. is the latest company to choose Vancouver for its base of operations…
LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry…
At a meeting of the International Oil Pollution Compensation Funds (IOPCF) this week, the International Chamber of Shipping (ICS) has strongly criticised the judgement of the Spanish Supreme Court in the ‘Prestige’ Case. This judgement (in January 2016…
On Saturday, April 23, General Dynamics NASSCO hosted a christening ceremony for the second Jones Act ECO Class tanker for American Petroleum Tankers (APT) under construction at the company's shipyard in San Diego. U.S. Representative Scott Peters spoke at the ceremony…
AET will purchase the remaining 50% of Paramount Tankers that it currently jointly own (under a 50/50 joint venture agreement) with Golden Energy Tanker Holdings. Paramount Tankers is a JV which owns and operates six Aframax vessels. Commercial…
American Eagle Tankers (AET), a subsidiary of Malaysian shipping line MISC Bhd, said that it will acquire all the remaining shares of Paramount Tankers, making the latter its wholly owned subsidiary. AET will acquire Golden Energy Tanker Holdings’ 50% stake in Paramount Tankers…
Launched at the Hyundai Mipo dockyard in Ulsan, South Korea, the newly built Lindanger is the world’s first methanol fueled ocean-going vessel.The ship is the first of two dual-fueled 50,000 dwt tankers owned by Norwegian firm Westfal-Larsen…
Being in a position to accurately anticipate change in the shipping markets is becoming ever more crucial for maritime service providers, as owning principals demand more solutions to the problems created by over-ordering, according to Braemar Group Asia President Denis Petropoulos…
Dubai-based shipping company Gulf Navigation Holding PJSC (GulfNav) has announced in a press conference at Rose Rayhaan by Rotana April 19 its expansion plans to increase its assets under management and service-based revenue. The shipping company…
This week is Singapore Maritime Week 2016, when the city-state celebrates its role as the major hub for shipping in the region, Singapore has good reason to celebrate: according to mapping, ship search and valuation provider, VesselsValue, Singapore owners control just under 2…
Mitsui O.S.K. Lines, Ltd. (MOL) has launched a charity donation drive within the MOL Group to help people afflicted by the recent earthquake in the Kumamoto region. The company has also decided to donate ¥10 million to support and rescue the afflicted people…
The port of Antwerp handled 53,265,552 metric tons of freight in the first three months of this year, 3.9 percent more than in the same period last year. The container volume in TEU did particularly well with growth of 4.6 percent, while liquid bulk rose to new heights with growth of 10…
Crowley takes delivery of Louisiana, third Jones Act tanker with LNG capability Crowley Maritime Corp. has taken delivery of Louisiana, the third of four new, Jones Act product tankers being built for the company by Philly Shipyard, Inc…
On the back of increased production by its anchor customers, Essar Ports Limited (EPL) has registered significant growth in cargo handling over the last three months. In March 2016 alone, EPL’s four operational ports handled total cargoes of 6…
