Israel’s cargo shipping company ZIM Integrated Shipping Services has reached an agreement with its creditors to reschedule payments of USD 115 million, during a period of up to 12 months starting from September 30, 2016. With this deal, announced as part of ZIM’s financial results for the three-mont
Shippers could face fewer choices and higher rates in the long run as the container shipping world continues shrinking due to an increase in merger and acquisitions and carrier failures, according to shipping consultancy Drewry. Following Hanjin Shipping’s filing for court receivership, the containe
Spectrum ASA has entered into an agreement with the administrator of the Dolphin estate to acquire the 2D multi-client surveys in Brazil Santos and Campos Basins and 3D survey offshore Lebanon. The company has not disclosed commercial or any other details regarding the acquisition of the data. To re
A report by KIC InnoEnergy and BVG Associates has identified fifty offshore wind innovations which have the potential to make a substantial reduction in the levelised cost of energy (LCOE) through changes to design, hardware, software or process. The report, ‘Future renewable energy costs: offshore
Dubai-based bunker trading and brokering firm Glander International Bunkering has merged with the Norwegian company Scandinavian Bunkering AS. Scandinavian Bunkering, which will be renamed and rebranded to Glander International Bunkering (Norway) AS, operates from Norway and Singapore and by way of
Due to depressed dry bulk market conditions, which triggered a slump in bulk carrier contracting and in turn led to the newly slim orderbook, which hit a nine year low at the start of September, the bulk carrier fleet expansion is expected to ease in the coming years, according to Clarksons’ Shippin
Abu Dhabi Ports has awarded a concession to build and operate a new container terminal at Khalifa Port to Cosco Shipping Ports Limited – Abu Dhabi (CSPL SPV), a wholly-owned subsidiary of Cosco Shipping Ports Limited. As per the agreement, the company will be entitled concession rights of Khalifa Po
Port developer and operator Abu Dhabi Ports has awarded a 35-year concession to build and operate a new container terminal at Khalifa Port to China-based Cosco Shipping Ports Limited – Abu Dhabi (CSPL SPV). Cosco Shipping Ports Limited will operate a container terminal with a draft depth of 18 metre
The World Canals Conference, which visits a different waterway destination around the world each year, took place in Inverness from 19th to 22nd September. The event was organised by the hosts, Scottish Canals, on behalf of Inland Waterways International. The conference was based around Eden Court T
Eco Wave Power (EWP), an Israeli wave energy developer, has started the testing of its new floater technology in the Jaffa Port, off Israel.
Shipping confidence, notably on the part of charterers and managers, improved for the second successive quarter in the three months to end-August 2016, according to the latest Shipping Confidence Survey from accountant and shipping adviser Moore Stephens. In August 2016, the average confidence level
During the summer, the cruise ship fleet surged past half a million berths of total capacity as the cruise industry continued to expand its horizons, according to Clarksons Research. The industry has seen strong newbuilding investment this year, and while many of the new ‘mega-ships’ will likely be
Lamprell has received a contract award from Jacktel AS, a wholly owned subsidiary of Master Marine AS, for the upgrade of the mobile operating unit “Haven” as an accommodation service vessel for the Statoil-operated Johan Sverdrup field, offshore Norway. The scope of works includes procurement, cons
Dredging Today brings you an overview of the most popular stories from the past week (September 19-25, 2016). DEME’s Multi Purpose Vessel ‘Living Stone’ Hits the Water DEME Group has celebrated the launch of their new multi purpose vessel ‘Living Stone’, the most advanced vessel in its class. Bo
