Category archives for: Featured

Jones Act Enjoys Rock Solid Support, Says AMP

Jones Act Enjoys Rock Solid Support, Says AMP

The American Maritime Partnership (AMP), the voice of the domestic American maritime industry, issued a statement regarding a recent Reuters article on the Jones Act that raised several issues regarding its effect on oil exports. According to Reuters, “crude producers and refiners are exploring ways to get around the law (Jones Act) that makes it […]

Diana Expands Fleet, Agrees on New Charters

Diana Expands Fleet, Agrees on New Charters

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has through a separate wholly-owned subsidiary taken delivery of the M/V  G. P. Zafirakis, a 179,492 dwt newly built Capesize dry bulk vessel that the company entered into an agreement to purchase in June 2014. The M/V G. P. Zafirakis is […]

Annual Global Cost of Piracy Measured in Billions

Annual Global Cost of Piracy Measured in Billions

The global cost of piracy, including the cost of piracy off eastern Africa, remains uncertain, with existing assessments providing divergent estimates and conclusions. Studies carried out by RAND Institute and the IMB have estimated piracy costs to range between US$1 and US$16 billion per year, according to the latest UNCTAD report on maritime piracy. The […]

Statoil to Deliver LNG to Klaipeda Port

Statoil to Deliver LNG to Klaipeda Port

Lithuanian natural gas supplier and trader UAB LITGAS, part of Lietuvos Energija energy company group, signed a LNG supply contract with Norwegian company Statoil ASA to ensure continuous operation of the Klaipėda LNG terminal, LITIGAS said in a release. The contract also covers possibilities of LNG reloading – a new commercial activity in the Baltic Sea […]

URALCHEM Takes Controlling Stake in Ventamonjaks Terminal

URALCHEM Takes Controlling Stake in Ventamonjaks Terminal

URALCHEM, OJSC, one of the largest producers of nitrogen and phosphate fertilizers in Russia, has become a controlling shareholder in SIA Ventamonjaks. Ventamonjaks is the largest liquid ammonia transhipment terminal in the Baltic Sea. It has an annual capacity of 1 million tonnes and is located in the ice-free port of Ventspils. URALCHEM’s subsidiary, Uralchem […]

Sino-Global Swoops on Longhe

Sino-Global Swoops on Longhe

Sino-Global Shipping America, Ltd., an international shipping agency and logistic services provider, has executed an agreement to acquire all of the equity of Hong Kong-based  Longhe Ship Management  Co., Limited in a move to broaden Sino-Global’s service platform and gain expertise in the ship management business. Sino-Global’s agreement to acquire all of the equity of […]

Star Bulk Fleet Expansion Bears Fruit

Star Bulk Fleet Expansion Bears Fruit

Dry bulk owner and operator Star Bulk, which has undergone an overall transformation over the last two years, has acquired a total fleet of 75 modern and high quality vessels, while deploying a minimal amount of existing cash resources, according to the company’s CEO. These result from a recently announced merger of Star Bulk and […]

Strike at Ningbo Port Turns Violent

Strike at Ningbo Port Turns Violent

A massive strike by as many as 10,000 truck drivers at Ningbo’s Beilun Container Port erupted into violence on August 20, as protestors clashed with riot police and smashed the windshields of trucks crossing the picket line, according to China Labour Bulletin. Truck drivers, unhappy at haulage rates which had remained unchanged for the past eight […]

European Freight Volumes Build Up

European Freight Volumes Build Up

The Port of Gothenburg six-monthly report published today shows that European freight volumes strengthened during the first half of the year whilst global container trade fell. Around 30 per cent of Swedish imports and exports pass through the Port of Gothenburg. Fluctuations in the economy are reflected very clearly in variations in freight flows. Ro-ro […]

Shvabe Holding Testing Ice-Cutting Laser Cannon

Shvabe Holding Testing Ice-Cutting Laser Cannon

Specialists at Russia-based Shvabe Holding, part of Rostec Corporation, are ready to test their latest creation, a ship-mounted laser cannon that can cut through ice. “We developed this ship-mounted laser for exploration and development in the Arctic, which has difficult ice conditions where platforms must operate and ships must pass through. This laser works like […]

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