Category archives for: Regional news

Jaccar, Hartmann Team Up on Ethane Business

Jaccar, Hartmann Team Up on Ethane Business

Jaccar Holdings of Luxemburg and Hartmann Group of Leer, Germany, have announced the establishment of a joint venture for the commercial management of ethane carriers. The new company, United Ethane Carriers (UEC), will be based in Singapore. As explained by Hartmann in a press release, its purpose will be to develop the ethane business, focusing […]

Update: Cammell Laird Strike Averted

Update: Cammell Laird Strike Averted

GMB members at Cammell Laird in Birkenhead  have voted to accept an improved pay offer and have called off the dispute in the yard over pay. The new agreement will cover the next three years and will provide the workforce with a guaranteed increase in their pay rates says GMB. Albie McGuigan, GMB Regional Officer, […]

East Asian Spot LNG Prices Move Up

East Asian Spot LNG Prices Move Up

East Asian spot LNG prices climbed sharply between late August and mid-September amid growing global competition for FOB (free on board) volumes and a deteriorating outlook for alternatives to gas-fired generation in Japan, ICIS, a petrochemical market information provider said. The October ’14 EAX contract closed at USD 13.381/MMBtu on 15 September, marking a USD […]

DP World, HPH Jointly Tackle Global Warming

DP World, HPH Jointly Tackle Global Warming

An estimated 11.2 billion tonnes of solid waste is collected worldwide every year and its degeneration contributes to about five per cent of global greenhouse gas (GHG) emissions. DP World and Hutchison Port Holdings Limited (HPH) have joined forces to combat global warming in a Waste Reduction Campaign that will multiply the effect of their individual […]

Global Ports Streamlining to Profit

Global Ports Streamlining to Profit

Strong interim results for the period ending June 30, 2014 posted by Global Ports Investments PLC are believed to be the result of improved efficiency of the enlarged operation following the acquisition of NCC Group at the end of 2013. The company believes that the benefits of this, together with the positive foreign exchange impact , contributed […]

Maersk Raises USD 1.25 Bln in Bond Offering

Maersk Raises USD 1.25 Bln in Bond Offering

Danish shipping giant Maersk has raised USD 1.25 billion in two bond offerings. The net proceeds will be used for general corporate purposes, as explained by the company. This is the first ever USD bond offering for the shipping line, underwritten by Bank of America Merrill Lynch, Barclays, Citigroup, JP Morgan and Royal Bank of […]

Serene Name for Smooth Sailing

Serene Name for Smooth Sailing

Nagasaki Shipyard & Machinery Works of Mitsubishi Heavy Industries Ltd. organised a naming ceremony for a new LNG vessel ordered by Nippon Yusen Kabushiki Kaisha (NYK). Toshihiro Sano, executive vice president of Tokyo Electric Power Company (TEPCO), named the ship Pacific Arcadia, and his wife cut the ceremonial rope holding the vessel in place. “Arcadia” […]

Capital Puts Tankers to Work

Capital Puts Tankers to Work

Capital Product Partners L.P. has secured one+one year charter employment for three of its Chemical/Product Tankers : M/T Avax, M/T Agisilaos and M/T Alkiviadis. The 36,760 dwt Alkiviadis has been chartered by CSSA S.A., a fully owned subsidiary of Total S.A., for one year (+/- 30 days) at a gross daily rate of USD 14,125. CSSA S.A. has the […]

Finland, Russia Ink Deal on Icebreaking Cooperation

Finland, Russia Ink Deal on Icebreaking Cooperation

Finland and Russia signed an agreement on 15 September providing a framework for cooperation in icebreaking services, Finland’s Ministry of Transport and Communications said. The agreement was signed by Harri Pursiainen, Permanent Secretary of the Finnish Ministry of Transport and Communications, and Sergei Aristov, Russian Deputy Minister of Transport. As explained by the Finnish Ministry, the […]

Knightsbridge Fleet Merger Half-Way There

Knightsbridge Fleet Merger Half-Way There

Knightsbridge Tankers Limited has completed the first stage of its previously announced shares for vessels transaction with Frontline 2012 Ltd. Knightsbridge has issued 31 million shares in exchange for 11 Cape size bulk carrier newbuildings, and two Newcastlemax newbuildings. Back in April 2014, Knightsbridge Tankers and Frontline 2012 agreed to combine Frontline 2012′s remaining fleet of 25 vessels […]

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