A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation.The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation…
American Petroleum Tankers (APT) affiliate intends to order the new ships from NASSCO Shipyared, San Diego.An affiliate of American Petroleum Tankers Parent LLC (“APT”), a company majority owned by funds managed by Blackstone on behalf of its investors…
Wärtsilä launch a new, highly efficient Aframax tanker design that offers solutions for current and forthcoming emissions legislation.Wärtsilä Ship Design has developed a double hull, single screw crude oil tanker featuring a CFD (Computational…
At 1601 ft. long x 242.7 ft. wide, the Prelude FLNG facility will be the largest offshore floating facility ever built. A new milestone was reached in the world’s use of LNG as fue, as Shell celebrated the cutting of first steel for the…
Aker Philadelphia Shipyard holds ceremonial keel-laying for first Aframax Tanker for SeaRiver Maritime, Inc.The ceremonial keel-laying was for the first of two Aframax tankers that it is building for SeaRiver Maritime, Inc. (SeaRiver), Exxon Mobil Corporation’s U…
Before the EU adopted sanctions on Iran in July this year, Suezmax super tankers were in dire straits. Previously there were too many tankships in operation and not enough demand for transport through the Suez Canal on to Mediterranean ports feeding European markets…
Over 1,300 seafaring officers and crew attended INTERTANKO’s Seafarers’ Vetting Seminar held last week at the NYK-TDG Maritime Academy in Laguna in the Philippines. The packed auditorium demonstrated the need and the desire for up-to-date…
The Russian Gazprom tankship 'SCF Amur' recently transited the Northern Sea Route in a record 7-days.In January 2012 Gazprom and Sovcomflot reached an agreement on arranging a test shipment via the Northern Sea Route to deliver the Gazprom hydrocarbons to the Asia-Pacific market…
Clay Maitland is a ubiquitous figure in the global shipping circuit, never shy to share his accrued maritime experience of more than 40 years, ask the tough questions or supply the blunt opinion. Set to celebrate his 70th birthday later this year but not slowing a step…
Total annual operating costs in the shipping industry increased by an average 2.1% 2011, driven by crew costs, reports Moore Stephens The findings are set out in OpCost 2012, Moore Stephens’ unique ship operating costs benchmarking tool…
Tsakos Energy Navigation Limited (TEN) announce a three-year time charter extension for the 2007 built, 163,216 dwt, double hull suezmax tanker, 'Arctic'.The charter with the same South American state oil company incorporates minimum and…
Overall confidence levels in the shipping industry fell in the three months ended August 2012 to their lowest level for a year, according to the latest Shipping Confidence Survey from international accountant and shipping adviser Moore Stephens…
In recent years, excess vessel capacity has been plaguing shipping markets and the resultant drop in asset values has restrained financing options for ship owners. Following the financial crisis in 2008, demand across the major shipping segments – dry bulk…
Owners of Very Large Crude Carriers (VLCC) by agreeing to current low rates are effectively paying shippers for the priviledge.Hire costs for the largest oil tankers are so low and the oversupply of the vessels is so acute that shipowners are paying to carry crude for clients…
In a letter to shareholders Nordic American Tankers Limited Chairman & CEO pointed (amongst other things) to the fleet's fuel-saving measures.Herbjorn Hansson, company Chairman & CEO stated:NAT has made, and is continuing to make, important…
