News

Wärtsilä announced today that the Scheme of Arrangement with regards to the acquisition of Hamworthy has become effective and the control of Hamworthy has been transferred to Wärtsilä as of today.

With the continued unpredictability of world markets, the shipping and port industry needs to watch for new frontiers for growth and emerging new patterns in global trade, said Mohammed Al Muallem

Ridge Global, an international provider of security and risk management services, today announced the launch of Flag Bridge(TM), a new service focused on maritime risk and sovereignty management.

REMONTOWA SHIPBUILDING S.A. has signed next contract for building modern vessel type PSV (Platform Supply Vessel) for one of the leaders of American marine industry – Edison Chouest Offshore from Louisiana.

Pacific Drilling S.A. announced that one of its subsidiaries has reached an agreement with Samsung Heavy Industries to extend until February 17, 2012 an option to construct a seventh ultra-deepwater drillship.

SBM Offshore said that it has been awarded a contract by the Ichthys LNG Project for the engineering, procurement, fabrication and supply of a Turret and Mooring system.

BHP Billiton today announced approval of US$917 million (BHP Billiton share US$779 million) in pre-commitment funding for the construction of a 100 million

Gulf Offshore Norge, a subsidiary of Gulfmark Offshore, Inc. has exercised an option to build another PSV of Skipsteknisk design, at SIMEK in Flekkefjord Norway.

IMO Secretary-General Koji Sekimizu, speaking at the opening of the Sub-Committee on Bulk Liquids and Gases (BLG) yesterday (30 January 2012)

Paragon Shipping Inc., announced that Deiulemar Compagnia di Navigazione SpA, the charterer of the M/V Friendly Seas, a 2008-built 58,779 dwt Supramax bulkcarrier

Oman Shipping Company’s (OSC) 317,000 DWT, 2011 Built, Very Large Crude Carrier (VLCC) “FIDA” is the latest and 12th vessel to join the VL8 Pool.

DeepOcean Group Holding AS, an integrated provider of subsea engineering and trenching services, today announced that Statoil has awarded additional inspection, repair and maintenance contracts to two DeepOcean vessels.

Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure this year, despite concerns over global economic instability, according to a new report on the future of the sector.

The head of Iran's state oil company said Sunday that the price of crude will reach $120 to $150 per barrel, as officials in Tehran prepare to discuss a ban on crude sales to European Union countries in retaliation for an EU embargo

Indian refiners processed 0.8 percent more oil in December from a year ago, the second straight monthly rise, as local fuel demand and Asian refining margins eased during the month.

Natural-gas producers have been announcing reductions to output levels lately, and that could be the start of a new trend that helps rejuvenate the fuel’s prices, which have languished at levels that are unprofitable for many producers.

The warning signs being flashed by the collapsing Baltic Dry Index (BDI), a leading global economic indicator, may reflect the folly of misguided expectations during the prior global economic boom, according to Hong Kong-based shipping analysts.

Rates for dirty tankers on key Asian freight routes are expected to rise over the next week as spot market activity picks up again with the return of Chinese traders from holiday.

With ports and sea freight in the Middle East expanding and regional shipping lines facing unprecedented challenges, leaders in international business and government will meet

The signing ceremony of cooperative agreement between Nantong COSCO Heavy Industry Co.,Ltd. (CHIC) and Italy Remazel Co. was held on January 17 in Shanghai.