Mermaid Maritime has announced that it has, through its subsidiaries, signed seven different subsea contracts and two contract extensions. The contracts were obtained by Mermaid’s subsidiaries Mermaid’s Western Hemisphere (MSSW), Mermaid’s Eastern Hemisphere (MSSE) and associate Asia Offshore Drilli
The National Chemical Carriers (NCC), a subsidiary of the National Shipping Company of Saudi Arabia (Bahri), has taken delivery of STI Powai, the fifth of five Medium Range tankers bought in February this year. The vessel was delivered on May 26 and the ownership was transferred to NCC. The tanker w
Israeli container shipping company ZIM Integrated Shipping Services Ltd. has sunk to the red in the first quarter of 2016 after staying in the black for almost a year. Namely, the company posted a net loss of USD 56 million, compared to net income of USD 12 million for the first quarter of 2015 amid
The registration for Offshore Energy Exhibition & Conference 2016 (OEEC 2016) is now open. The ninth edition of this event is expected to attract 11,500 offshore professionals and more than 650 exhibiting companies. Offshore Energy is an annual event focused on the complete offshore energy industry.
DeepOcean has been awarded a contract for the provision of post-lay trenching of a 42-km power cable from the shore to offshore United Arabic Emirates. According to the company, the post-lay trenching works have now started offshore Abu Dhabi, and will be performed by DeepOcean’s recently upgraded T
Eddie O’Connor, the founder and CEO of Mainstream Renewable Power, has been appointed as the Global Wind Energy Council’s (GWEC) new Global Ambassador. In his new role, O’Connor will work with GWEC to ensure that the wind sector’s voice is heard, and that more and more countries understand the benef
Dubai-based container shipping firm United Arab Shipping Company (UASC) has completed a series of transactions that resulted in the issuance by a U.S. based trust of USD 162 million of Enhanced Maritime Trust Certificates (EMTC). The proceeds from the EMTCs were used to finance the debt portion of t
Korean Register (KR) has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the ‘Iran-Korea Technology Assurance Company’, with 50-50 capital investment from KR and ICS and it is planned to be fully operatio
Although progress is being made for the upcoming implementation of the container weighing rules on July 1, it is clear that not all shippers will be ready to comply with the new International Maritime Organization’s (IMO) rule, according to shipping consultancy Drewry. A survey conducted by the cons
Danish Ship Finance: Shipyards Could Be Left without Orders by 2017 It is essential that new orders are placed within the next three to six months for the yard industry to fill up its orderbooks for 2017, according to Danish Ship Finance… Read More UASC to Vote on Hapag-Lloyd Tie-Up in June Dubai-ba
Dredging Today brings you an overview of the most popular stories from the past week (May 16-22, 2016). Panama Canal Expansion Project – May 2016 Update In little over one months’ time, the Inauguration Ceremony of the new Panama Canal will mark the completion of the largest infrastructure underta
Qatargas Operating Company Limited (Qatargas) has shipped its first spot liquefied natural gas (LNG) cargo to Japan’s newly established energy company JERA. JERA is a joint venture between two of Japan’s largest power utility companies – Chubu Electric Power and TEPCO Fuel & Power. The delivery foll
Depending on the ship size, speed and fuel price, containership operators saw an increase of some USD 500 million in 2015 annual costs due to new sulphur requirements which are forcing owners to use higher cost fuel, considering all containerised trade in Emissions Control Areas, according to the la
Dubai-based shipping company United Arab Shipping Company (UASC) is going to decide on the business combination agreement with German counterpart Hapag-Lloyd AG (HL) at the beginning of next month. To that end UASC has today called an extraordinary general meeting for 2 June 2016 “in which the share
