Africa
CMA CGM Turquoise Attacked, Two Crew Kidnapped
A containership chartered by the French shipping major CMA CGM has been attacked by pirates off Nigeria, who are reported to have kidnapped two crew members. The ship has been identified as CMA CGM Turquoise by Maritime Trade Information Sharing Centre for the Gulf of Guinea ( MTISC-GOG). The CMA CG
Dry Bulk Rate Recovery Short-Lived?
Shipping rates for vessels transporting commodities such as coal, iron ore and grains racked up impressive gains in the first quarter of 2016 after hitting record lows, but the rally could flatten out into the second half as the macroeconomic outlook remains uncertain, the latest forecasts show from
Terra et Aqua: Spotlight on Rock Cutting Processes
In its latest edition of Terra et Aqua, the International Association of Dredging Companies (IADC) has released an article named ‘Modelling the effect of water depth on rock cutting processes with the use of discrete element method’. Whether it is for the construction of ports on new locations, the
Newbuilding Orderbook Takes a Nosedive in Q1
The first quarter of 2016 was hit by a major decline in ordering newbuilds with only 77 new ships ordered by the end of March 2016, Clarksons data shows. This is a substantial drop when compared to the corresponding period in 2015 when a total of 375 ships were ordered. January was definitely the sl
Oil hits 2016 high above $43 on producer meeting hopes
By Alex Lawler LONDON (Reuters) – Oil rose above $43 (30 pounds) a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, and by a weak U.S. dollar and further signs of strong demand in China. […]
IADC Releases ‘Beyond Sand & Sea’
To celebrate the 50th anniversary of the founding of the International Association of Dredging Companies (IADC), a limited edition book ‘Beyond Sand & Sea‘ has now been released. The book shows the last 50 years of dredging achievements as depicted through 50 iconic projects. Spanning the globe, the
IGU: LNG Carrier Tonnage Glut Set to Deepen Further
The 29 LNG carriers, including the FSRU Golar Tundra, delivered in 2015 far outweighed additional shipping requirements from the additional 4.7 MT of incremental LNG trade, exacerbating the oversupply in the LNG shipping market, according to the latest report from the International Gas Union (IGU).
Navig8 Group Extends Services to Offshore Market
Maritime services provider Navig8 Group has decided to enter the offshore energy market with an agreements to purchase offshore marine services company RKOffshore Management (RKOM). Navig8 said that the completion of the acquisitions is subject to a number of conditions which should be agreed upon b
Infographic: Piracy Drops in SEA as Kidnappings Surge in Gulf of Guinea
Piracy rate has fallen in Southeastern Asia, since there have been only 13 cases of maritime crime in the first quarter of 2016, according to the latest analysis from UK’s maritime intelligence and operations company Dryad Maritime. Yet for the Gulf of Guinea this is not the case. Known as a major p
Navig8 extends its services to offshore energy sector
Navig8 Group, a provider of maritime services, has entered into agreements to acquire RKOffshore Management (RKOM), a provider of marine services to the offshore energy industry. RKOM operates and manages a fleet of shallow to mid-water Offshore Support Vessels (OSVs). Under these agreements, RKOM w
Pirates Kidnap Crew of Tanker MT Puli
A group of eight pirates attacked the Malta-flagged tanker MT Puli and kidnapped the vessel’s crew members some 118 nautical miles off Port Harcourt, Nigeria, OPS Clearwater confirmed to World Maritime News after reports on the attack emerged in Turkish media. The incident, which occurred at 01:30 h
Seafarers’ Minimum Wage to Stay at Current Level
The minimum wage for able seafarers recommended by the International Labour Organization (ILO) will remain at its current level of USD 614 basic pay per month until at least 2018, according to the International Chamber of Shipping (ICS). This follows an ILO Joint Maritime Commission (JMC) meeting he