News

ACM Shipping Group plc (AIM:ACMG), a leading international shipbroker, yesterday announces its preliminary results for the year ended 31 March 2011.

Ocean carriers are unlikely to achieve planned freight rate hikes on the Asia-Europe route this week because they have failed to rein in excess capacity, according to Alphaliner.

Mr. Koji Sekimizu of Japan has been elected as the Secretary-General of the International Maritime Organization (IMO), with effect from 1 January 2012, for an initial term of four years.

The U.S. may ship the most beef ever in 2011, after doubling its share of the world market in four years, as demand from Asia revives a $3.84 billion export industry decimated by mad-cow disease.

Maersk Line, which today exercised an option for 10 new container ships which can each carry 18,000 20-foot containers, said it probably won’t use the last

Mitsui O.S.K. Lines, Ltd. yesterday announced that “FineBallast® OZ,” an ozone-based ballast water treatment system co-developed by MOL, MOL Marine Consulting, Ltd.,

Kuwait Energy Company, one of the fastest growing independent oil and gas companies in the Middle East, yesterday announced financial and operational results

In the northern reaches of Alberta lies a vast reserve of oil that the U.S. views as a pillar of its future energy needs.China, with a growing appetite for oil that may one day

The industrialized world has likely capped oil prices for the rest of the year by releasing emergency reserves, a Reuters poll found, suggesting they have bought

The oil market will be “well supplied” in the second half of 2011 as consuming and producing nations are pumping more crude when necessary, said Noe van Hulst,

While marking the first ever Day for the Seafarers on June 25, a group urged the maritime industry to address problems plaguing sea-based workers, such as piracy,

Despite receiving its daily quota of drinking water from various sources, the city is facing a water shortage. And, taking advantage of the demand for water tankers, drivers

While the effects of the earthquake and tsunami which devastated north east Japan and wrecked a nuclear power station are still fresh in people’s minds, nuclear power

China Rongsheng Heavy Industries has inked an agreement to obtain RMB11bn ($1.7bn) credit line from China CITIC Bank to expand its operations. A credit line of RMB9bn

Dear Shareholder, I would like to give you an update on the latest developments in our Company and the industry. Nordic American is improving its position compared with our competitors, who are facing problems in a difficult market. Simply put, some of them have too much debt. Backed by the strongest balance sheet in the industry and with an unparalleled group of professionals at the helm, Nordic American provides you with significant upside potential and limited downside.

NOL Group yesterday confirmed it has signed contracts with Korea's Daewoo Shipbuilding & Marine Engineering Co. and Hyundai Samho Heavy Industries Co., Ltd to build

Mitsui O.S.K. Lines, Ltd. yesterday announced a decision to order two containerships (8,600 TEU) from Mitsubishi Heavy Industries, Ltd., with delivery slated for 2013.

At a time when markets are still down, ship owners need to address maintenance concerns head on and turn to suppliers they can trust. That’s the message from

ClassNK announced that it had reached an agreement to establish a capital tie-up with Japan Marine Science Inc. at a meeting in Tokyo today. The tie up agreement will see

Yesterday, at a signing ceremony in Tokyo, Japan, Maersk Line exercised its option with Korea’s Daewoo Shipbuilding & Marine Engineering Co., Ltd. to build an additional 10 Triple-E ships, the world’s largest and most efficient container vessels.The event