Category archives for: Company News

Fleet Clear-Out at Frontline

Fleet Clear-Out at Frontline

Frontline Ltd. has agreed with Ship Finance International Limited to terminate the long term charter parties for the 1999 built VLCCs Front Opalia, Front Comanche and Front Commerce. Ship Finance has simultaneously sold the vessels to unrelated third parties.   The charter parties are expected to terminate in the fourth quarter of 2014. The decision […]

Van Ord Boasts Order Intake

Van Ord Boasts Order Intake

Van Oord has won two orders in Brazil and the Bahamas, worth a combined worth EUR 100 million ( USD 134.6 million).   The activities involve dredging work for the construction of a new shipyard in Aracruz, Brazil. The client is Estaleiro Jurong Aracruz (EJA), a Brazilian subsidiary of Sembcorp Marine’s Jurong Shipyard from Singapore. […]

Singapore Sees New Eco Partnership

Singapore Sees New Eco Partnership

American Bureau of Shipping (ABS), a provider of global marine and offshore classification services, and the Maritime and Port Authority of Singapore (MPA) signed a memorandum of understanding (MOU) today to promote maritime research and development (R&D) and innovation.   Over the next five years, ABS and MPA will collaborate on maritime R&D in the […]

Euronav: VLCC and Suezmax Rates Recovering

Euronav: VLCC and Suezmax Rates Recovering

Suezmax rates have reached their highest level since January 2014, said Paddy Rodgers, CEO at Euronav, Belgium-based tanker owner and operator, adding that crude oil tanker rates should remain strong in the coming months due to positive seasonal demand factors and improving underlying supply/demand fundamentals.   “The second quarter was dominated with one of the […]

World Ocean Council Welcomes Aboard Arctia Shipping

World Ocean Council Welcomes Aboard Arctia Shipping

Arctia Shipping, the Finland-based global specialist in icebreaking and Arctic operations, has become a member of the World Ocean Council (WOC).   ” Arctia brings extensive maritime experience and expertise in ice and Arctic operations to the WOC and adds significantly to the number of important firms with Arctic activities distinguishing themselves as members of […]

Update: Wärtsilä Divests Its Shares in QMD JV

Update: Wärtsilä Divests Its Shares in QMD JV

Wärtsilä has made plans to divest its shares in the Qingdao Qiyao Wärtsilä MHI Linshan Marine Diesel Co. Ltd (QMD), the joint venture company established for manufacturing large low-speed marine diesel engines.   Wärtsilä’s shares in the joint venture will be transferred to the current majority shareholder, Qingdao Qiyao Linshan Power Development Co Ltd, a company […]

Cargo Cruises aboard Giants of the Seas

Cargo Cruises aboard Giants of the Seas

CMA CGM Group is now offering genuine cruises aboard its biggest vessels, the new 16,020 TEUs container ships, such as the Marco Polo or the Alexander von Humboldt.   These giants of the seas (365 meters long, which is equivalent to more than 4 soccer fields), are among the largest vessels of their kind in the […]

Slowly but Surely Concordia Convoy Pushes Ahead

Slowly but Surely Concordia Convoy Pushes Ahead

After 22 hours of navigation, Costa Concordia convoy has slowly but surely completed over 50 miles of its four-day journey, with about 140 miles from Genoa Prà-Voltri.   The wreck is being towed to Genoa for scrap at two knots under very good weather conditions, accompanied by light north-west wind, which are likely to ensue, […]

SAAB Finalizes Kockums Buy

SAAB Finalizes Kockums Buy

Swedish defence and security company Saab has acquired Thyssen Krupp Marine Systems AB shipyard (TKMS AB formerly Kockums).   “We are now beginning the integration of Kockums with Saab, focusing on reaching full capacity and we are starting work immediately with the orders placed by Sweden as well as deliveries to other existing customers. This […]

GE, LR Targeting Customers for Their Gas Turbine Systems

GE, LR Targeting Customers for Their Gas Turbine Systems

GE Marine and Lloyd’s Register have signed a Memorandum of Understanding (MOU) to identify potential gas turbine-powered commercial ship projects.   “Through the MOU we will identify target segments and commercial customers for our highly-efficient marine gas turbine systems,” said Brien Bolsinger, Vice President, Marine Operations, GE Marine, Evendale, Ohio. “GE already has an established […]

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