Three oil tanker ships were detained by the Malaysian Maritime Enforcement Agency (MMEA) off the waters of Pengerang for illegal ship-to-ship transfer of marine fuel oil (MFO) near Pengerang. Tanjung Sedili District Maritime Enforcement head…
Lloyd’s Register (LR) won the deal for classification of nine Medium Range (MR) type product tankers. Owned by Maersk Tankers, the vessels are to be built at Samsung’s Ningbo yard in China. These are the first ever vessels ordered by…
The idle containership fleet has reached its highest level in five years, with over 1 Mteu of vessel capacity currently unemployed. Carriers are removing capacity on most main tradelanes in response to weak market demand, with the Asia to Europe route witnessing some of the most drastic cuts…
101 Crowley Vessels Honored with Environmental Awards in Recognition of 984 Combined Years of Safe Operations. More than 100 Crowley Maritime Corporation-owned and -operated vessels were honored with Certificates of Environmental Achievement…
Two Product tankers, Svyatoy Petr and Svyatoy Pavel collided during a passage of Northern Sea Route in convoy with nuclear icebreaker Vaygach. The collision happened on 70 nautical miles SouthWest off New Siberian islands in Laptev sea…
“The dry cargo markets have shown no signs of recovery during Q3. A lack of demand growth in combination with deliveries of new tonnage will make this the reality of the market for an extended period. Our Q3 result in dry cargo is as expected and a reflection of these market conditions…
Crowley Maritime Corporation announced today that company veteran Craig Tornga has assumed the role of vice president of stakeholder relations for Alaska, and will coordinate with all of Crowley's Alaska business units to leverage relevant company relationships…
TORM’s strong operational platform has delivered the highest product tanker freight rates since 2008 and a positive EBITDA of USD 96m in the third quarter of 2015, says its CEO Jacob Meldgaard. TORM has demonstrated its financial and strategic…
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) has received orders from government officials to cease production on five of its ships presently under construction, following a series of deadly shipyard incidents…
'The container shipping industry is in the midst of an over-capacity crisis which will worsen next year,' Neil Dekker, director of container shipping research at Drewry said in a note accompanying the release of its 2015 edition of the Container Market Annual Review and Forecast 2015/16…
Refining capacity in Asia has been growing rapidly for many years. Not surprisingly, the vast majority of this growth took place in China, which more than doubled its refining capacity over the last 10 years. The other significant growth engine in Asia has been India…
Wells Fargo Securities says that headwinds face global shipping industry and the continued overcapacity means freight rate gains are less likely to stick. 'Given the continued overcapacity headwinds and easing containerized trade demand…
The top federal official presiding over the Great Lakes/St. Lawrence Seaway presented Indiana Governor Mike Pence with its flagship award today in recognition of an increase in international shipping at the Port of Indiana-Burns Harbor.Chief…
Shipping company NYK announced it has switched the coffee served inside its head office reception rooms to a brand carrying the International Fairtrade certification mark. More than 50,000 cups of coffee are served in the NYK head office reception rooms every year…
Dorian LPG Ltd took delivery of five vessels under our ECO-design VLGC newbuilding program, the Continental, the Constitution, the Commodore, the Cresques and the Constellation. John Hadjipateras, Chairman, President and Chief Executive Officer…
