USC completes takeover of Arctech Helsinki Shipyard Following long negotiations between Russia's state-owned United Shipbuilding Corporation (USC) and Finland's specialist polar shipbuilder Arctech Helsinki Shipyard, USC saidits plan to acquire 50% of Arctech was successfully concluded on 30 December. USC announced back in January 2014 its intention
Four missing after cargo ships collide off Italy coast Improving weather conditions in the northern Adriatic have raised hopes of locating four people missing from the Turkish cargo ship Gokbel, which sank after colliding with the cargo vessel Lady Aziza on 28 December off Ravenna. Two of the 11 people on board the Gokbel were reported drowned. Poor
Ships collide near Horsburgh Lighthouse, Singapore A Libyan-flagged oil tanker has collided with a Singapore-flagged bulk carrier off Horsburgh Lighthouse, located on the Singaporean island of Pedra Branca at 0600 hours local time on 2 January 2015. The 116,039 dwt tanker Alyarmouk sustained damage to one of her cargo tanks, resulting in the
Ethiopia's Port Sudan move opens new impex route Landlocked Ethiopia, which currently ships 90% of its exports and imports through the port of Djibouti, is to use Port Sudan for importing goods. According to reports in the Sudan Tribune, Ethiopia's Ministry of Transport announced yesterday that the government will be importing 50,000 tonnes of
Nam Cheong's shares rated 'buy' Stocks of Singapore-listed offshore services provider Nam Cheong have been given a "buy" rating on by DMG & Partners Securities analyst, Lee Yue Jer, based on the company's resilience to the oil price volatility. Nam Cheong recently sold two shallow-water vessels for approximately $45M despite
India remains key market for Indonesian coal India remains the biggest export market for Indonesian coal even as exports of the same to China rebounded in November 2014. India imported 8.2M tonnes of coal from Indonesia that month, compared to 4.9M tonnes from China, which imported 2.9M tonnes in October 2014, according to IHS McCloskey data.
Excelerate suspends Lavaca Bay FLNG Excelerate Energy, which had entered into a consortium with South Korean shipbuilder Samsung Heavy Industries (SHI) to build a floating LNG (FLNG) vessel in Lavaca Bay in Texas, the United States, has suspended the project due to falling oil prices. Through a filing to the Federal Energy Regulatory
Second refugee ship left to drift in Med A livestock carrier with up to 470 mainly Syrian migrants aboard is being towed to an Italian port after its crew abandoned the ship in the Mediterranean yesterday afternoon. The crew left the 2,329dwt Sierra Leone-flagged Ezadeen adrift and without fuel in stormy weather about 40nm off Capo di
Record VLGC deliveries seen in 2015-16 The deliveries of very large gas carriers (VLGCs) are expected to set new records this year and in 2016. VLGCs are the workhorses of the seaborne LPG trade, accounting for two-thirds of shipped volumes. IHS Maritime's Sea-web.com data show that 35 VLGCs are expected to hit the water this year,
Eighteen crew missing after bulk carrier capsizes off Vietnam Search and rescue underway after Gearbulk-owned Bulk Jupiter sinks in South China Sea Friday
Egypt pays $350m to LNG player BG Group Egypt pays energy companies as it struggles to honour LNG export commitments
Panama Canal contractor awarded $234m A dispute resolution board awards GUPC around half the amount it claimed in compensation and extends the contract by six months
Singapore collision results in 4,500 tonne oil spill UPDATE: Investigation launched after Libyan tanker sustains cargo tank damage in collision with Samudera Indonesia bulk carrier
Dorian declares 2015 the start of an LPG revolution US-listed shipowner bets big on opportunities driven by US and China as it builds its $1.36bn fleet of VLGCs
Mombasa breaks 1m teu mark African port launches call for tenders to operate phase one of its new container terminal as traffic grows
Suezmax spike rounds off decent year for these 1m-barrel tankers Vessels hired for mid-January loading dates, boosting earnings for owners, who kept ordering new ships in December
Reefer trade hits 100m tonnes but continues to lose market share to boxes Dynamar report sees continuing shrinking of conventional fleet, particularly as fruit trades are opting for slots on container services
PMA to begin calling out fewer night workers at LA-Long Beach The International Longshore and Warehouse Union and Pacific Maritime Association enter the weekend engaged at a standoff at Los Angeles-Long Beach as employers plan to reduce the number of longshore crews that will be assigned to work vessels on the night shifts while the union continues to short terminals on...
NYK latest ro-ro carrier to plead guilty to US price-fixing charges NYK joined "K" Line and CSAV in pleading guilty to U.S. price-fixing charges over the past year related to roll-on, roll-off shipping services. Nippon Yusen Kabushiki Kaisha pled guilty and agreed to pay a $59.4 million criminal fine for its involvement in "a conspiracy to fix prices, allocate customers, and rig...
ISM survey cites negative impact from West Coast port delays U.S. manufacturing growth slowed in December with continuing delays at West Coast ports being cited as a contributing factor, according to the Institute for Supply Management. Comments from companies surveyed indicated a "negative impact on imported materials shipment due to the West Coast dock slowdown," the ISM said on Friday. "West Coast...
2014's geopolitical risks stir 2015 supply chain concerns Few years in recent history have offered up as broad a smorgasbord of security crises as 2014: - The surprising ascent of the Islamic State, the most disruptive and violent new group of terrorists in more than a decade. - The resurgence of militarism in Russia, which seized Crimea from Ukraine and...
New fuel regime to force restructuring of European short-sea market Short-sea container lines and feeder operators in northern Europe are bracing for bankruptcies, shotgun sales and shuttered services in the coming months following the introduction of tough ship emission regulations that will significantly increase fuel costs on some of the world's busiest shipping routes. Beginning Jan. 1 all ships sailing in...
Despite gridlock, JNPT sees record throughput in 2014 Despite the persistent landside congestion and disruptions caused by an equipment upgrade in the last few months, Jawaharlal Nehru Port Trust achieved an all-time high in container movements in 2014, according to port sources. The three terminals at India's busiest container port complex, also known as Nhava Sheva, cumulatively handled 4.45...
PMA in latest move seeks to restrict night shift labor The Pacific Maritime Association launched a game of brinksmanship on New Year's Eve, notifying the International Longshore and Warehouse Union at Los Angeles-Long Beach that beginning Friday, employers on night shifts will dispatch only one longshore crew to work each vessel, rather than three as has been the norm. In a...
Nasdaq warns Euroseas over stock New York's Nasdaq Stock Market has issued a warning to Euroseas over its stock price.
Nasdaq warns Euroseas New York's Nasdaq Stock Market has issued a warning to Euroseas over its stock price.
K Line dragged into Suez Canal Bridge suit K Line has been added to the list of defendants in a lawsuit by Indemnity Insurance Company of North America over a weather incident that struck a containership.
GHS upgrades Golar after slump Global Hunter Securities has upgraded Golar LNG Ltd as the floating LNG (FLNG) production space offers significant upside after a decline in the company's share price.
Stifel chops Diana estimates to predict annual loss in 2015 Stifel cut its earnings estimates for Diana Shipping, predicting now that the New York-listed bulker owner will deliver a full-year loss in 2015.
Teekay teases payout hike Teekay Corp chief executive Peter Evensen says an FPSO charter that will trigger a dividend increase could start in the first quarter.
Bulker capsizes off Vietnam Eighteen crew missing after Gearbulk-owned vessel capsizes and sinks off the Vietnamese coast.
Diana fixes Houston Diana Shipping of Greece has penned its first contract for the New Year as it chartered out one of its capesizes to Germany's RWE Supply & Trading GmbH.
BW Offshore extends deal BW Offshore has signed a letter of intent to extend the charter of a FPSO operating off Nigeria for another two years.
Dispute costs canal $234m A dispute adjudication board has ruled in favour of a contracting consortium in a row over the Panama Canal expansion project.
Engineer dies as ship sinks A crew member has died but 19 others were rescued after a general cargoship sank in rough weather off the Philippines.
Second ship stranded off Italy Italian authorities have rushed to aid a crewless ship believed to be carrying hundreds of immigrants in the Adriatic Sea, for the second time in four days.
Healthy wages paid The crew of a small chemical tanker who were left stranded on board their ship in the Indonesian port of Palembang since August without pay and supplies have finally been paid off in full and repatriated home.
Singapore oil spill Some 4,500 tonnes of crude leaks from an aframax tanker after a collision with a bulk carrier.
China ups crude imports Chinese crude imports continue to climb, with some oil analysts suggesting that Beijing is taking advantage of cheap oil prices to increase its crude stockpile.
STX sells Arctech stake Russia's United Shipbuilding Corporation (USC) has bought out partner STX Finland's 50% stake in shipbuilder Arctech Helsinki Shipyard.
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