Stolt-Nielsen Buys Jo Tankers’ Chemical Operations Stolt-Nielsen Limited has agreed to acquire the chemical tanker operations of Jo Tankers comprising 13 chemical tankers and a 50% share in a joint venture with eight chemical tanker newbuildings… Read More CMA CGM Enters Total NOL Takeover Mode Fren
Polarcus, an offshore geophysical company, has tightened its loss during the quarter compared to a year earlier period despite drop in revenues. The geophysical company’s net loss for the quarter was $11.2 million, versus $78.3 million in the corresponding period last year. Polarcus’ revenues droppe
Offshore drilling contractor Transocean has stacked six rigs and has received new rig contracts as well as changed dayrates for several of its rigs. In the company’s latest fleet status report, covering a period from April to July 2016, the driller revealed that six rigs have been stacked; the 1999-
World’s biggest container carrier Maersk Line is rerouting its TP12 Asia – US East Coast service through the expanded Panama Canal and turning it into a standalone, around-the-world service. From the Far East to the US East Coast the TP12 service will transit the new Panama Canal locks and call the
Belgium’s Antwerp Port Authority has signed a collaboration agreement with Shahid Rajaee Port Authority which controls the port of Bandar Abbas in Iran. Bandar Abbas accounts for 90% of the in- and outgoing containers of Iran and for nearly half of the 200 million tonnes of freight handled by the 11
Norwegian seabed seismic services company, Magseis, has selected acoustic positioning equipment from Sonardyne for its upcoming ocean bottom seismic campaign in the Red Sea. Starting July, and working in partnership with BGP on behalf of Saudi Aramco, the S78 project is expected to last nine months
French container shipping company CMA CGM plans to launch two new weekly services, EPIC 1 and EPIC 2, between the Arab Gulf, Pakistan, North West India and North Europe, in addition to the existing Epic service on this route. EPIC 1 will offer a direct connection between North Europe, Pakistan and N
UniSite Group, a Chinese company involved in dredging, land reclamation, offshore projects, marine, mechanical engineering and green remediation projects, took an active part in a lot of projects all over the world in the second quarter of 2016. In this time frame, UniSite supplied a significant amo
Magseis, a Norwegian geophysical company, has selected acoustic positioning equipment from Sonardyne to support its upcoming deepwater ocean bottom seismic survey of the Red Sea. Sonardyne said on Monday that the S78 project will begin in July and last for nine months with the company collaborating
Container carriers Hapag-Lloyd AG and United Arab Shipping Company S.A.G. (UASC) have signed a Business Combination Agreement (BCA) to merge both companies, subject to the necessary regulatory and contractual approvals. Following regulatory and contractual approvals expected to be obtained by the en
The National Shipping Company of Saudi Arabia (Bahri) and the Arab Petroleum Investments Corporation (APICORP) have inked an agreement on July 17 to launch the USD 1.5 billion APICORP Bahri Oil Shipping Fund (ABOSF) aimed at acquiring 15 Very Large Crude Carriers (VLCCs). The fund will assist Bahri
More containership capacity is being demolished than ever before, including old-design ships made redundant by the new Panama Canal; however, the trend will not make a significant impact on the current capacity surplus unless owners also refrain from ordering many new vessels, according to shipping
Unique Group, an integrated subsea and offshore solution provider, has completed the acquisition of Oceanvision PTE and Oceanvision Equipment Services PTE. The acquisition was done through Unique’s subsidiary, Unique Maritime Group (SEA) PTE. Oceanvision will now be part of the Unique Group of compa
Subsea World News has put together a recap of the most interesting articles from the previous week (July 11 – July 17). Norway’s offshore union Industri Energi (IE) plans to boycott Bibby Offshore to prevent it from securing more work on the Norwegian Continental Shelf due to information suggesting
