News

While predicting that US natural gas prices will reach $6/MMBtu by 2015, Goldman Sachs analysts projected they will average about $4.25/MMBtu in the near term as

2012 looks set to be the biggest year for containership newbuilding deliveries in history, in terms of TEU capacity entering the cellular fleet. According to Braemar Seascope's latest Containership Fleet Statistics, boxship deliveries in 2012 are expected to reach 1.55m TEU - beating the previous record of 1.52m TEU achieved during 2007.

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned negative on Friday as cargo demand on the larger capesize vessels slowed after active bookings earlier this week.

ClassNK Chairman and President Noboru Ueda called upon the International Association of Classification Societies (IACS) to play an expanded role in the future as he stepped

Rotterdam-based Green Award is developing certification specifically aimed at the chemical tanker sector.This move follows the launch of certification programmes

Ransoms paid to Somali pirates to free merchant vessels are ending up in the hands of Islamist militants, laying shipping groups open to accusations of breaching international sanctions, U.N. officials told Reuters.

Bermuda-based Teekay Corporation has announced it has signed a memorandum of understanding (MOU) with A2SEA A/S to jointly develop an vessel design for the installation of offshore wind foundations.

Training is a growing cost for shipowners. Not having to spend a fortune on travel and accommodations makes Shipgaz Training a cost effective alternative to traditional training.

The Panama Maritime Authority issues revised Merchant Marine Circular MMC-226 regarding Guidelines for the Maintenance, Inspection of Fire-Protection System and Appliances.

APL Co. Pte Ltd (APL), Hyundai Merchant Marine (HMM) and Mitsui OSK Lines (MOL) yesterday announced suspension of the PSW Transpacific service (Pacific Southwest Service).

With effect from 07.07.2011, NOK 461 million is redeemed as own holdings in IMSK 08 (ISIN NO 00 1053461.3). The remaining outstanding amount of IMSK 08 is NOK 39 million

In January-June of this year, Azerbaijan produced 104,280 tonnes of liquefied gas, which is by 540 tonnes lower than in the same period in 2010.According to sources in SOCAR,

Godawari Power & Ispat has received project financing from the Bank of Baroda for the construction of a 50MW solar plant in Rajasthan, India.

AEP Ohio has partnered with Turning Point Solar to construct a 49.9MW commercial solar facility in Indiana, US.

It's a good piece of news that the country's shipbuilding industry has recently received orders for 40 oil tankers worth Tk 6.0 billion. This is the largest ever order won by local vessel makers, ushering in a new era for Bangladesh's nascent shipbuilding industry

Drydocks World has announced the successful launch of self elevating platform L210, from its dedicated rig building facility in Graha, Indonesia.The platform costing $24.6m is

The Board of Directors of ASL Marine Holdings Ltd. (the "Group" or "ASL Marine") is pleased to announce that its wholly-owned subsidiary ASL Shipyard Pte Ltd has secured

Mitsubishi Heavy Industries, Ltd. (MHI) has completed the modernization of the shipbuilding facility at the Enoura Plant of the company's Shimonoseki Shipyard

Delays building capesize commodity carriers that haul iron ore and coal fell to the lowest level in at least three years as record numbers of new vessels constructed in China joined the fleet on schedule.

Despite record crude oil liftings from the Middle East and anticipated demand growth of around 2% for 2011, there remains a persistent oversupply of VLCC tonnage, according to analysis by Braemar Shipping Services.However, it may come as some