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Odfjell Cuts Net Loss, Continues Talks on Delayed Deliveries

11 February 2016

Business & Finance

Bergen-based shipping and tank terminal company Odfjell has reported a drop in 2015 net loss to USD 36 million, including negative effect from bunker derivatives of USD 64 million, compared with a net loss of USD 75 million in 2014. Net loss of the quarter stayed at USD 18 million, the same as in the fourth quarter of 2014. Stable financial […]

UK Navy Tests Carrier Refuelling Using Scale Models

18 March 2013

Business & Finance

The Navy’s new carrier has successfully carried out its first refuelling in the water – in miniature. Two highly-accurate one-tonne scale models of HMS Queen Elizabeth and future tanker RFA Tidespring have been tested in Europe’s largest indoor water tank in Gosport to determine how the two ships can sail safely in company. Key to […]

GEM Takes Delivery of Its 18th Vessel Built by SHI, South Korea

15 October 2012

Business & Finance

Gulf Energy Maritime (GEM) has remained vigilant over the continued impact of the global financial crisis, particularly on the oil tanker sector, while simultaneously keeping a carefully optimistic stance with regard to the market’s requirement for greater size and flexibility in the oil transport market as the company took delivery of its 18th vessel. Standard […]

Ferus Smit delivers second LNG-powered cement carrier

9 June 2016

Vessels

Ferus Smit, the Dutch shipbuilder on Thursday said the second LNG-powered cement tanker, M.V. Ireland has been delivered to its owner JT cement.

Two Sailors Dead after Inhaling Toxic Fumes

3 September 2018

Two crew members of a Maltese-flagged chemical tanker have died following inhalation of toxic fumes.

OKEA unloads another Draugen oil cargo

30 July 2019

OKEA has unloaded another oil cargo from the Draugen field located offshore Norway using a Teekay shuttle tanker.

ASW Ship Severomorsk Escorts 9th Convoy With 2 Russian-Crewed Ships

16 August 2011

Crew of large ASW ship Severomorsk continues successful patrolling in the Gulf of Aden. Northern Fleet mariners on Aug 13 began to escort another convoy consisting of three ships flying flags of Cyprus, Liberia, and Panama. Dry cargo ship Valdai and tanker Zaliv Anadyr are Russian-crewed. This is the ninth convoy escorted by large […]

Tufton Oceanic Buys Crude Oil Carrier

30 September 2019

Business & Finance

Tufton Oceanic Assets Limited has agreed to acquire a crude oil tanker.

OSG’s Alaskan fleet gears up for methanol-ready upgrade from MAN ES

15 December 2023

Business Developments & Projects, Collaboration, Green Marine, Innovation, Outlook & Strategy, Regulation & Policy, Rules & Regulation, Transition, Vessels

U.S.-based tanker owner and operator Overseas Shipholding Group (OSG) has inked an engine upgrade program with German powerhouse MAN Energy Solutions for its Alaskan Class fleet. The upgrade program covers four vessels from the series including Alaskan Explorer, Alaskan Frontier, Alaskan Legend, and Alaskan Navigator, all approaching 20 years of age. The lifecycle engine upgrades aim to […]

Dryad Maritime: Missing Vessel Feared Hijacked

22 January 2014

Business & Finance

Liberian flagged tanker MT Kerala could be hijacked, a specialist maritime intelligence agency Dryad Maritime warned. The vessel, owned by Dynacom Tankers, has been reported missing off the coast of Angola, having last been sighted seven nautical miles NNW of Luanda. The tanker is believed to be a likely victim of Nigerian criminal gangs having […]

Ukraine, Turkey in Talks on Bosporus Strait Passage Issues

23 November 2011

Ukraine is holding consultations with Turkey on technical issues regarding the passage through the Bosporus Strait by gas tankers to the … (interfax) [mappress] Source: interfax, November 23, 2011;

IMO calls for urgent action as shadow fleet raises safety and liability concerns

5 April 2023

Authorities & Government, Environment, Green Marine, Ports & Logistics, Regulation & Policy, Rules & Regulation, Safety, Vessels

The International Maritime Organization’s (IMO) Legal Committee has highlighted the risks and consequences of ship-to-ship transfers in the open ocean and the methods used to obscure ship identities. At its 110th session in London, the committee was informed that a fleet of between 300 to 600 tankers, including some not inspected recently, having substandard maintenance, […]

Odfjell sell stake in Dalian terminal to VTTI

12 May 2020

Business Developments & Projects, Infrastructure, Ports & Logistics, Storage

Odfjell Terminals (China) Pte. Ltd. (OTC) has completed the sale of its 50 per cent interest in a chemicals storage terminal in the Port of Dalian to VTTI Terminals, a subsidiary of the Netherlands-based VTTI group.

Clarksons: Vessel Losses – Sailing into Safer Times?

27 February 2017

With the improved safety at sea, total vessel losses seem to be on a downward trajectory. 2016 marked the fewest number of ship losses on record although the world fleet reached its greatest ever size, Clarksons Research said. In 2016, reported losses reached a historically low level of 54 vessels and 0.2 million gross tons, […]

Sovcomflot Reports Strong 2019 Earnings

13 March 2020

Business & Finance

Russian shipping major Sovcomflot (SCF Group) managed to return to profit in 2019 – the first year of implementation of the company’s new strategy. The company reported a net profit of USD 225.4 million in 2019, compared to a net loss of USD 45.6 million seen a year earlier. Revenues rose by 9.6 percent to […]

Stolt-Nielsen units explore potential of ammonia as alternative fuel

28 March 2023

Business Developments & Projects, Green Marine, Outlook & Strategy, Research & Development, Transition

Stolt-Nielsen’s units Stolthaven Terminals and Stolt Tankers are exploring the potential of ammonia as a greener alternative to traditional petroleum-based marine fuels to support the ongoing transition to low and zero-carbon energies. In line with this, Stolthaven Terminals, a provider of storage services for bulk liquids and gases, has joined the Ammonia Energy Association (AEA) […]

Enagás ready to provide bio-LNG to ships at Huelva and Barcelona terminals

21 February 2025

Business Developments & Projects, Green Marine, Infrastructure, Ports & Logistics

Spanish energy company Enagás is all set to launch bio-LNG supply service at its regasification terminals in Barcelona and Huelva.

BW Offshore emerges as preferred FPSO bidder for Canada’s $12B oil project

1 September 2025

Business & Finance, Business Developments & Projects, Project & Tenders

Equinor has taken another step to bring to life its oil project off the coast of Newfoundland and Labrador by inking heads of agreement (HoA) with BW Offshore for a floating production, storage, and offloading (FPSO) unit that will be deployed on the Canadian project, which was put on ice for three years a couple of years ago.

Enagas to Start LNG Reloading at Barcelona Plant

22 April 2014

Enagás of Spain said it will be offering LNG reloading service at its Barcelona plant from July 2014. “Loading will be subject to the tanker meeting certain technical requirements, the terminal’s operating parameters and production levels. These conditions will be established when the customer specifies the type of operation required,” the company said in a […]

Ardmore Not Going Down the Scrubber Route for Now

8 November 2018

Business & Finance, Rules & Regulation

Ardmore Shipping Corporation is refraining from installing scrubbers on board its tankers for the time being.

Gasum kicks off LNG supply under Equinor deal

11 May 2020

Business Developments & Projects

The Nordic energy company Gasum has made the first delivery of liquefied natural gas to Equinor under the supply deal signed in January.

Cosco Chairman: Nobody left unscathed by oil market debacle

4 April 2016

China’s Cosco, a company building drilling rigs and ships, has, as almost all of its peers, been impacted by sliding oil prices and slowing global economic growth in 2015. In a message to shareholders, reviewing the company’s performance in 2015, Chairman Wang Yu Hang said overcapacity and unceasing rising costs had made it even more […]