Global carriers Hanjin, Hapag-Lloyd, “K”Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming have agreed to create a new alliance, the companies announced today, confirming market rumors. As disclosed, the alliance will be covering all East-West trade lanes namely, Asia-Europe/ Mediterranean
The developers of the 402MW Dudgeon offshore wind farm have arranged a GBP 1.3 billion long-term financing for the project with a consortium of international banks and financial institutions on May 12, having reached financial close in six months. The limited recourse financing will fund the capital
The developers of the 402MW Dudgeon offshore wind farm have arranged a GBP 1.3 billion long-term financing for the project with a consortium of international banks and financial institutions on May 12, having reached financial close in six months. The limited recourse financing will fund the capital
Due to a rising production capacity in key exporting countries, chemical tanker shipping freight rates are expected to remain firm over the medium term, according to shipping consultancy Drewry. Since 2015, the US has started to export more and import less volume of liquid chemical products. US meth
Seismic player Polarcus has made changes to the company’s board of directors. Erik Mathiesen, Tom Henning Slethei and Peter Zickerman were elected as new board members with a term of office of one year and Christopher Kelsall was elected as a new board member with a term of office of two years, Pola
The Netherlands-based APM Terminals is planning to provide container weighing services at 29 locations globally to enable compliance with the upcoming SOLAS verified gross mass (VGM) regulations, effective 1 July 2016. Namely, the new container weighing regulation prescribes that all packed shipping
Melanie Schultz van Haegen, Dutch Minister of Infrastructure and the Environment, officially kicked off the International Delta Coalition today. The governments of the Netherlands, Bangladesh, Colombia, Egypt, France, Myanmar, Indonesia, Japan, Mozambique, the Philippines, South Korea and Vietnam ar
Newbuilding orders of tanker ships have seen a sharp reduction, but the slowing trend needs to be sustained for the longer-term health of the market, global shipping consultancy Drewry said in its Tanker Forecaster. After numerous orders in recent years, newbuilding activity in the tanker market dec
The offshore wind industry will soon launch its latest reference guide: the Offshore WIND Vessel Directory 2016. This third edition of the directory, produced in close cooperation with the vessel builders and operators in the industry, offers an updated overview of the available vessels in the marke
Singapore’s Vallianz has secured a time charter contract for two of its Anchor Handling Tug, Supply and Safety Standby vessels. The contract is valued at up to $63 million, and has been signed with an undisclosed national oil company (NOC) in the Middle East. In a statement issued on Monday, Vallian
Alphaliner: Third Alliance in the Making? The eight container carriers left out of the two major alliances, the 2M and Ocean Alliance, could team up under a single arrangement that would represent a serious count… Read More Hanjin Shipping’s Restructuring Cleared South Korean shipping company Hanjin
Subsea World News has put together a recap of the most interesting articles from the previous week (May 02 – May 08). IMR and light construction player Harkand has entered into administration after it, earlier this year, defaulted on the payment of its senior secured bond issue and interest, due to
Russian gas producer Rosneft has delivered its first ever LNG shipment as part of its contract with Egyptian Natural Gas Holding Company (EGAS), using Golar Ice tanker owned by Golar LNG. Rosneft Trading SA, a subsidiary of the Rosneft Group entered a Master LNG Supply and Purchase Agreement with EG
McDermott International has been awarded three separate projects by a ‘major national oil company’ for the integrated engineering, procurement, construction, and installation (EPCI) services in multiple fields in the Arabian Gulf. In addition to this, there has also been an award of an additional sc
