News

At the moment, no South Korean ships or sailors are held by Somali pirates, infamous for demanding high ransoms and their inhumane treatment of captives.

Kirby Corporation announced the completion of the acquisition of K-Sea Transportation Partners L.P., with K-Sea becoming a wholly owned subsidiary of Kirby. K- Sea is an operator of tank barges and tugboats participating in the coastwise transportation primarily of refined petroleum products in the United States.

FIJI can capitalise on the international demand for efficient shipping services by marketing and exporting seafarers especially at the officers' level.Acting chief executive officer Maritime Safety, Josateki Tagi said Fiji's maritime sector was facing problems in maintaining local highly qualified deck and engineering officers to serve and man locally registered large vessels.

China will spend more than CNY36 billion (US$5.57 billion) in the coming five years on Yangtze River dredging and navigation upgrades, Xinhua reports citing CHINA's Vice Minister of Transport Xu Zuyuan statement. This will bring the river to a new phase of rapid development.

NYK Line’s eastbound trans-Pacific volume fell 8 percent year-over-year in May, the second straight monthly decline on the trade lane for imports into the United States,

The Collaboration Combines Satellite and Maritime Experience from Orange with Consilium's Leadership in Safety and Navigation Solutions for Shipping Industry. Consilium Marine Group, a worldwide supplier of marine products and customer services, and Orange Business Services, a leading global integrator of communication solutions, announces today that they have signed a high-level global cooperation agreement.

Mercator Lines, one of the largest shipping lines in India, is planning a $150 million (R680 crore) initial public offering (IPO) of its Singapore-based coal exploration and mining unit, Oorja Holdings, by the end of 2011. The company will divest not more than 30% stake in Oorja and the listing will be done either in Singapore or London.

Orient Overseas Container Line Ltd. (OOCL) is proud to announce that OOCL has been awarded the “Top Ranked Carrier 2011” in the Annual Ocean Carrier Performance Survey

MAN Diesel & Turbo has signed a contract with STX, the South Korean engine manufacturer, for the construction of four model 12V28/33D STC diesel engines. The four-stroke units are bound for a Republic of Korea Navy vessel currently under construction in Korea at Hanjin Heavy Industry Co., Ltd, and are expected to be delivered in October 2012.

Wärtsilä and Jiangsu CuiXing Marine Offshore Engineering Co. Ltd. have agreed to establish a joint venture for manufacturing Wärtsilä 26 and Wärtsilä 32 medium-speed marine engines in China. The value of Wärtsilä’s investment in the joint venture is EUR 16 million. Wärtsilä’s share of the joint venture is 49 percent and Jiangsu CuiXing’s share 51 percent.

MAN Diesel & Turbo added another two-stroke licensee to its roster at a signing ceremony in China on June 15 with CSSC Guangzhou Marine Engine Co. Ltd. (GMD).

The U.S. Environmental Protection Agency (EPA) and the U.S. Coast Guard signed a memorandum of understanding (MOU) to jointly enforce U.S. and international air pollution requirements for vessels operating in U.S. waters.

According to the China Electricity Council (CEC), over a quarter of its energy consumption was powered by green sources. China's total output increased by 14.56 percent in 2010 to more than 4.19 trillion kWh.

Dutch company SBM Offshore has received a contract from Technip for the engineering, procurement, construction and integration (EPCI) of a turret mooring system.

Athens-based shipowner Thenamaris has ordered four 6G80ME-C9.2 engines from MAN Diesel & Turbo to be equipped in four 5,000-teu container vessels, which will be built by Hyundai (HSHI) in South Korea.

CSX Intermodal Terminals (CSX) has installed Tideworks' terminal operating system (TOS) at its new Northwest Ohio intermodal terminal (NWOH).

Dutch heavy lift shipping company Jumbo Shipping has opened a Representative Office in Bremen (Germany) in cooperation with German independent breakbulk and heavy lift shipbroker Coli Schiffahrt & Transport KG. The new office, Jumbo Agency Germany GmbH, aims to further strengthen Jumbo’s position in the German project cargo and heavy lift market. Mr. Felix Peinemann, having many years of experience in project shipping (of which 5 years in overweight and oversized cargo), has been appointed General Manager.

Wärtsilä has been awarded a five-year technical management contract, based on Dynamic Maintenance Planning, covering six LNG carriers. The contract has been placed by the operator of the vessels, Ceres LNG Services Ltd, a Greek ship management company and a major marine service provider in LNG shipping.

GL Group announces a number of changes in the management structure of its Maritime Services organisation. The new operational structure is designed to further enhance

Shipping companies face the prospect of a 20% increase in cost of operations as the price of bunker oil touched a record high of $650 per barrel on Thursday, said senior industry