National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers.The facility lasts for a period of 10 years and six months…
Qatar Petroleum (QP) has announced the delivery of the 500th liquefied natural gas (LNG) cargo from QP affiliate Qatar Liquefied Gas Company (2) to the South Hook LNG Terminal at Milford Haven in the United Kingdom. The landmark delivery…
Tsakos Energy Navigation (TEN) announced charter extensions with a state oil company with profit sharing provisions for four panamax tankers, with an average duration of 22 months per vessel and minimum gross revenues of $65 million. These…
In the Very Large Crude Carriers (VLCC) segment, which showed modest growth in overall volume from 2014 to 2015, the main changes were concentrated in the eastern hemisphere, says a report by Tanker Research & Consulting department at Poten & Partners…
Today, Dryad Maritime release the Dryad Maritime Country Risk Map, an online risk portal that has been specifically designed to help commercial teams, CSOs, ship owners and managers optimise their maritime security strategies and identify new…
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington's sanctions, according to officials involved in the initiative. International…
Navig8 Product Tankers Inc. an international shipping company focused on the transportation of petroleum products, today announced that it has taken delivery of the Navig8 Sanctity, a 110,000 DWT LR2 tanker, from Sungdong Shipbuilding & Marine Engineering Co…
SCF Group (PAO Sovcomflot) reported steep jump in their net profit to USD 354.5 million from USD 83.9 million in the earlier year. Its gross revenue increased by 7.6 per cent to USD 1,483 million (2014: USD 1,378 million) and its time charter equivalent revenue rose by 18…
With around 80 per cent of global trade by volume and over 70 per cent of global trade by value carried by sea, and with these shares being even higher in the case of most developing countries, maritime transport, including liner shipping,…
Trelleborg’s marine systems operation hosted an exclusive one-day seminar for port authorities and consultants in partnership with the company’s exclusive agent for Greece, Seamark Marine on 1st March at the Metropolitan Chandris Hotel in Athens…
2015 was another busy year for the Danish Maritime Authority in which many results were achieved – covering a wide span from growth to safety. This is evident from the annual report of the Danish Maritime Authority, which has just been published…
GTT Training, a specialist LNG training and simulation provider, announces the award of a first contract to supply its G-Sim LNG simulator software to L-3 DPA and Chevron. The contract involves the development of a new LNG Carrier model…
Lower oil prices performed wonders for the tanker market in 2015, says Drewry Maritime Research. Tonnage demand surged and oil trade expanded because of high consumption demand and increased stocking activity. Tonnage supply was also…
Crude oil tanker company Euronav has invested to become a four-year sponsor of Sailors’ Society’s Wellness at Sea program. Wellness at Sea, which was launched in 2015, is a coaching and support program devised by the international maritime…
What should have been acceptable ship utilisation figures last year didn’t prevent spot rates from falling to historic lows. Carriers will need to intensify their capacity management tactics in 2016 if they are to reverse the trend. The…
