News

In a world increasingly dominated by the need to reduce environmental impacts, what role does shipping have to play? Technological solutions exist, but which will prove

Underwriters at Lloyd’s of London, the world’s oldest insurance market, are reviewing the assertion of a U.S. lawmaker that ransoms paid to Somali pirates may

Morgan Stanley, the U.S. bank with commodity assets of about $8 billion, booked a capesize ship at what may be the lowest rent in 31 months as a glut of vessels weighed on transportation costs for raw materials.The bank hired the Anangel Explorer on

Total SA (FP), Europe’s third-biggest oil company, said the costs of developing energy projects are being dragged higher by oil prices.

In the shorter term, oil fundamentals remain in tightening mode, with sharp reductions in the prospects for non-OPEC supply and resilient global demand indicating the likelihood of an increased supply gap in Q3 in a world with a declining inventory cover and spare capacity, said Barclays in a report.

Western oil firms are unlikely to face widespread asset seizures or contract revisions as a result of Arab uprisings, thanks to deft diplomacy, legal protections and efforts to depict themselves as partners of the local citizenry

Russian United Shipbuilding Corporation (USC) and South Korean STX Offshore & Shipbuilding yesterday signed an agreement to establish a joint venture “New Admiralty Shipyards”

A delegation of Chinese investors have expressed interest in acquiring Rijeka’s 3.Maj shipyard, planning to invest some 63.8 million Euro. Although aware

More than a week after Saudi Arabia failed to persuade its fellow OPEC members to increase oil output, analysts and investors are still trying to sort out the meaning of the fracas.

MOSCOW - Chinese President Hu Jintao and President Dmitry Medvedev on Thursday talked up a deal to pump Russian gas to China for the next three decades but failed to clinch agreement on a final contract.

Even as it announced plans to order five big new containerships, Hanjin Shipping said it will suspend its Asia-Europe NE5 service in early July.The carrier operates the service in conjunction with its partners in the Green Alliance, formerly the CKYH alliance, between Cosco, K Line, and Yang Ming

The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched lower on Friday although further iron ore business provided support to the larger capesize market.

NIGERIAN may have moved closer to the realization of the ideals of the Local Content policy with the commencement of partnership between an indigenous Oil and Gas logistics provider,

The government plans to hold talks with natural gas buyers and producers to review the terms of their sales contracts as it tries to boost gas revenue, an Energy Ministry official said.

The South Korean government won't be able to ask domestic oil refiners to maintain their lowered retail oil prices once their "self- imposed" price cuts end, a senior official

BIMCO General Meetings have a reputation for being rather different to those in the run of the mill conference circuit, and that in Vancouver last week was no exception. They make their delegates think – about big pictures – about the important background trends

Tanker owners are still in the loop following OPEC’s inability to provide the oil markets with some positive news on increased production figures, while demand is ever so growing. This week, IEA raised the issue once again, trying to exert pressure on OPEC

In April 2011, The Chicago Fire Department took delivery of a new Fireboat to replace the aging Victor L. Schlaeger. The vessel was named in memory of Firefighter Christopher Wheatley, who lost his life in active duty in 2010. The new vessel was designed by Robert Allan Ltd., Naval Architects

The development of Exhaust Gas Scrubber technology for SOx emissions control has advanced to the point that it is now possible to quickly ramp up production volumes to meet the increasing demand in the marine market as regulations become more stringent.

Kyodo Tokyo Electric Power Co. said Friday it will take a month to start circulating radioactive water cleaned using a newly installed water treatment system to cool the Fukushima No. 1 plant's crippled reactors.