The crude tanker market is forecast to experience a limited winter upturn, as only the Very Large Crude Carrier (VLCC) sector showed any sizable movement in October, with spot earnings on TD3 increasing sharply to around USD 40,000/day, according to Maritime Strategies International (MSI). Spot acti
Gulf Marine Services (GMS), a provider of self-propelled, self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, has won a new contract award for one of its mid-size class vessels. GMS informed on Tuesday that the contract, scheduled to start in the first quarter
Norwegian offshore vessel owner Farstad Shipping has been awarded a contract extension and several new contracts for its platform supply vessels in Brazil and Egypt. The vessel owner reported on Monday that the Brazilian oil giant Petrobras has extended the contract for the 2003-built MPSV Far Swift
Offshore driller Rowan Companies and the Saudi Arabian Oil Company (Saudi Aramco) have signed an agreement to create a 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia. According to the agreement signed through subsidiaries of the two companies, the new joint ve
The International Association of Dredging Contractors (IADC) has just released a new ‘Facts About’ publication named ‘Selecting a Destination for Dredged Material‘. ‘Facts About’ is a series of concise, easy-to-read leaflets which give an effective overview of essential facts about specific dredging
After a steady fall in average daily TCE spot earnings in October, November saw an inflection point for Capesizes as the dry bulk market is sailing into a firm festive season, swiftly followed by a New Year comedown, according to research and consultancy firm Maritime Strategies International (MSI).
Readers’ Picks of the Week (November 14 – 18, 2016)
Dredging Today brings you an overview of the most popular stories from the past week (November 14-20, 2016). Royal IHC, ANP Ink TSHD Deal Royal IHC has signed a contract for the design, construction and delivery of a 4,200m³ trailing suction hopper dredger (TSHD) with Administración Nacional de Pu
The Baltic Dry Index (BDI) jumped by 26 points and reached 1,257 points on November 18, marking its highest level so far in 2016 amid a strong recovery in the dry bulk market over the last month. The Capesize index was up by 21 points reaching 2,752, the Panamax index was up by 35 points to [&hellip
Representatives of exporters and importers from around the world, the European Shippers’ Council and the Global Shippers’ Forum, have joined forces to advance and protect their members’ interests in the face of unprecedented change in the global container shipping industry. The move was made amid sh
The regulating, coordinating and supervising body for Dubai’s maritime sector, Dubai Maritime City Authority (DMCA), has signed a collaboration agreement with Norway-based classification society DNV GL to explore initiatives aimed at advancing the sector’s technological capacity. Through the agreeme
Royal Boskalis Westminster N.V. has just launched the fourth edition of its Creating New HORIZONS magazine. “In our magazine we offer fresh perspectives from external experts and present projects and approaches that push back operational and technological boundaries,” Boskalis said. In this new edit
French container shipping major CMA CGM has launched REX3, a new service connecting Asia and the Red Sea. The new service will link Djibouti, Saudi Arabia, Egypt, Jordan, Singapore and China. In addition to the calls offered in the company’s REX2, MEX1 and EPIC lines, CMA CGM said it now operates an
WorleyParsons has secured an Engineering, Procurement and Construction Management (EPCM) services contract for the Shell’s Pearl Gas to Liquids (GTL) and associated facilities in Qatar. Under the contract, WorleyParsons will provide EPCm services primarily for a portfolio of brownfield projects. The
