Category archives for: Regional 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 […]

N-KOM, GIS Seal USD 110Mln Offshore Deal

N-KOM, GIS Seal USD 110Mln Offshore Deal

Gulf Drilling International Limited (GDI), a subsidiary of Gulf International Services (GIS),  has awarded two contracts worth USD 110 million to Nakilat-Keppel Offshore & Marine (N- KOM), a joint venture shipyard between Nakilat and Singapore’s Keppel Offshore & Marine (Keppel O&M).   The first contract is for the construction of a self-propelled and self-elevating liftboat, […]

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 […]

Rising Concern over Small Tanker Hijacks

Rising Concern over Small Tanker Hijacks

The Piracy Reporting Centre (PRC) of the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) raised concerns over a worrying trend of small tanker hijacks in its 2014 half yearly report released on Tuesday, July 22.   Globally, 116 incidents of piracy and armed robbery against ships have been reported to the PRC in […]

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 […]

EMSA Bankrolled for Marine Pollution Response

EMSA Bankrolled for Marine Pollution Response

The European Council has adopted a regulation to finance the actions of the European Maritime Safety Agency (EMSA) in the field of response to marine pollution caused by ships and oil and gas installations in the years 2014 to 2020.   The final adoption of the legislative act by the Council follows an agreement reached […]

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 […]

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