News

Seventy-nine ships, laden with various items, are expected to sail into the Lagos ports between June 22 and July 15. This was contained in the shipping position made available

The port area, which now covers 7.26 square kilometers, handled goods worth $20.2 billion last year. The Yantai Bonded Port Area in East China's Shandong province is now

Pakistan's upstream companies drilled only 42 wells in the fiscal year to June 30 due to issues with security and a persisting "circular debt" problem, a Ministry of Petroleum official said Friday.

Hallin Marine, a Superior Energy Services company, announces the award of its latest subsea pipeline repair project off the African west coast. Working on behalf of a major oil company,

Area experts say that the decision to release oil reserves could send area gas prices, which al¬ready have dropped 40 cents since May 5, plum¬meting as much as another 60 cents -- or it could do nothing at all.

Asian nations moved to release emergency oil stockpiles on Friday as part of a rare global coordinated action by consumer countries to prevent high energy prices

Light Sweet Crude The CL contract fell apart as it was announced that several countries were set to release oil reserves into the markets over the next 60 days. This extra 2 million barrels a day should help alleviate price for the short-term. However, there are many

On Thursday, June 23 JSC Latvijas kuģniecība (LSC) took delivery of its latest new building tanker Latgale from Hyundai Mipo Dockyard Co., Ltd shipyard in Korea thus

Chinese shipbuilders are now facing summer electricity shortages, the most severe power shortages in nearly a decade. Ship construction delays are on the cards, Seatrade Asia reported.

Yalova-based Besiktas Shipyard (Turkey) yesterday, June 24, 2011, launches the third tanker of Armada series ordered by Palmali Group, the shipping

Aker Drilling, through its subsidiary Aker Drilling Offshore Services Public Ltd., has agreed with Daewoo Shipbuilding and Marine Engineering Co. Ltd. an extension to the time limit

ABB has won a $24 million order to supply electrical power and propulsion systems for two next generation Ramform vessels, capable of 3D seismic data acquisition

The container ships arriving in the port of Antwerp continue to score a series of “firsts.” On the evening of 22 June the Maersk Enfield called in Antwerp on its maiden voyage. With a capacity of 13,000 TEU (twenty-foot equivalent units) this is the first time that the Danish company, Maersk Line, has sent ships of such a size to Antwerp. The increase in scale demonstrates the great confidence that the port of Antwerp inspires following completion of the third round of

Rosmorport has developed a project for reconstruction of federal assets based at the port of Vyborg, the head of Rosmorport’s regional department told a St. Petersburg conference.

The “Belgica”, the Belgian navy ship converted into a research vessel, has now come to the Maritime Museum Ría de Bilbao and will remain docked at the quays of the Museum until Saturday, when they leave with the tide. Aboard the ship, and within the framework of cooperation between the Ministry of Economy of the Belgian Government and AZTI-Tecnalia, researchers from the Basque Technological Center will made a campaign using three multibeam echo sounder systems, technology used to know the depth and morphology of the seabed, off the coast of Lekeitio.

Construction of ships to haul commodities rose to a record, helping to cut transportation costs for cargoes including coal, iron ore and grains, Clarkson Research Services Ltd. said. In the first five months of the year 429 vessels began trading, up from 388 a year ago, according to data on the website of Clarkson Research, a unit of the world’s largest shipbroker. The previous record for the period was set in 2010.

Globus Maritime Limited, a dry bulk shipping company, announced that it has taken delivery of the M/V “Moon Globe,” a 2005-built Panamax dry bulk carrier it acquired for a purchase price of $31.4 million, which the Company had previously announced on May 3, 2011.

DryShips Inc. , a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced that its majority owned subsidiary, Ocean Rig UDW Inc., exercised its third newbuilding option to construct a 7th Generation Ultra Deepwater Drillship at Samsung Heavy Industries.

The Sri Lanka Ports Authority (SLPA) has secured a 700 million US dollar investment to build a ‘port city’ on land reclaimed on the capital’s seafront with the construction of a new harbour.

After an extensive selection process, involving discussions with a number of different shipyards, Tankers Inc. has today signed its first newbuilding contract for two LR1 vessels of 75,000 DWT each to be built by Dalian Shipbuilding Industry Co., Ltd. (“DSIC”), in the Liaoning province, China. In addition, Tankers Inc. retains an option to declare a further two LR1 newbuildings to be determined at a later stage.