Attractive newbuilding prices have pushed the order count for very large crude carriers (VLCC) to around 30 so far this year, which is more than double when compared to last year’s 13 orders for the entire year. What is more, a number of owners, not just VLCC owners, are considering investment in ne
The shipping fleet trading in chemicals and vegoils is heading for an expansion moderately driven by a demand for methanol and vegoil, shipping consultancy Drewry informed. The orderbook contains 144 stainless steel vessels totalling 3.4 million dwt for delivery by 2020, almost 22% of the existing c
The Dresser-Rand business, part of Siemens Power and Gas, has developed a new turbine for wave power plants that operates on the oscillating wave column principle.
The National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with the South Korean shipbuilder Hyundai Heavy Industries (HHI) for cooperation in the field of big data. Under the MOU, the two companies will jointly develop smart ship solutions and apply them to
Over 200 global investors, managing more than $15 trillion in assets, have called the G7 member countries to stand by Paris Agreement and drive its swift implementation.
A CMA CGM container vessel collided with the harbour wall while berthing at Jebel Ali Port, Terminal 1 on May 4 striking the leg of a quay crane causing it to fall, Dubai-based terminal operator DP World confirmed. A second crane was also shifted off its rails during the incident but remained uprigh
Tidal Energy Today has compiled the top news from tidal and wave energy industry from May 1 – 7, 2017.
A total of 1.3 million dwt of crude oil tanker capacity was sent to the scrapyards during the first four months of 2017, heading to the expected demolished capacity of 9 million for the full year, according to BIMCO. The year so far has seen eight crude oil tankers form for demolition, including two
Subtech, a James Fisher company, has re-entered the offshore market with new contract wins in the Middle East and West Africa, after six years of focusing solely on marine and subsea services in Sub-Saharan Africa. The company has reportedly just started on a cable installation project for Saipem in
TP Ocean has released the recording of the recently held webinar that analyzed the current situation and solutions for mainstreaming warranties, guaranties and insurance in ocean energy.
Affected by lower spot market rates in general seen during the first three months of 2017, the National Shipping Company of Saudi Arabia (Bahri) reported a drop of 38.1 percent in its net profit for the period. The company managed to reach a net profit of SAR 378.8 million during the quarter ended M
The International Association of Dredging Companies (IADC) has just released their latest article named ‘Valuing Variations In Dredging Contracts’. Variations have the potential to generate substantial extra costs and pose significant delay and disruption to a dredging project. Moreover, the valuati
Seismic player Polarcus made several changes to its board of directors at the 2017 annual general meeting (AGM) held on May 3, 2017. Polarcus said after the AGM on Wednesday that the company named Henrik Madsen to the board for a term of two years. Madsen is the former chief executive of DNV GL wher
With demolition values on the rise and impending environmental regulations that will require costly upgrades to existing vessels, the very large crude carrier (VLCC) sector is set to see an accelerated scrapping program begin this year. The scrapping spree is expected to persist throughout the next
