A rise in iron ore trade, higher steel prices and increased scrapping have been the main factors in the recent Capesize market uptick, however, according to Maritime Strategies International’s (MSI) latest Dry Bulk Freight Forecaster, the outlook is still fragile. In order for the uptick to be susta
UniSite Group, a Chinese company involved in dredging, land reclamation, offshore projects, marine, mechanical engineering and green remediation projects, took an active part in many project all over the world in the first quarter of 2016. In this time frame, UniSite supplied a significant amount of
Offshore drilling contractor Paragon Offshore has received two contract extensions and one contract termination for its jack-up drilling rigs. According to Paragon’s latest fleet status report, the contract for Paragon’s 1979-built jack-up drilling rig Paragon M1162, operating in the UAE, was extend
National Shipping Company of Saudi Arabia (Bahri) has seen a rise in its profits in the first quarter of 2016, as the company recorded a net profit of SAR 611.9 million (USD 163.2 million) in the first three months of the year. The company’s net profit jumped by 53% compared to the same period a yea
BIRD Energy has launched a funding call for US-Israel joint project proposals with a focus on renewable energy and energy efficiency.
Qatargas, United Arab Shipping Company (UASC) and Shell signed a Memorandum of Understanding (MOU) to explore the development of liquefied natural gas (LNG) as a marine fuel in the Middle East region. Through the joint relationship the partners plan to explore the development of new markets for LNG
Dredging Today brings you an overview of the most popular stories from the past week (April 11-17, 2016). PHOTO: Naming of Van Oord’s New Dredger BIESBOSCH Royal IHC has just released a photo from the naming ceremony of the cutter suction dredger (CSD) BIESBOSCH. Trailing Suction Hopper Dredger
Offshore drilling contractor Noble Corporation has received a two-year contract extension for a jack-up drilling rig, stacked two semi-subs, and reduced dayrates for two drillships. In its latest fleet status report, Noble said that the contract for the jack-up drilling rig Noble Hans Deul was exten
The 4th Marine and Coastal Engineering Conference will take place from 24 – 27 April, 2016 at the Le Royal Méridien in Abu Dhabi, UAE. The event will bring together marine and coastal experts from consultants, contractors, port authorities, government representatives, oil and gas operators and servi
Saudi Border Guard has acquired two Damen cutter suction dredgers (CSD 450) for harbor maintenance duties. Two CSDs 450, with a maximum dredging depth of -12 m and a mixture production of 3,000 m³/h, were to be fitted out with an extensive list of options, including an accommodation unit and positio
The rapid deterioration of Hyundai Merchant Marine’s (HMM) financial situation has also put the spotlight on other carriers’ balance sheets, Alphaliner says, commenting on HMM’s defaulting on the repayment of KRW 120 Bn (USD 105 million) of its publicly traded bonds due on 7 April 2016. The defaulti
Shipping rates for vessels transporting commodities such as coal, iron ore and grains racked up impressive gains in the first quarter of 2016 after hitting record lows, but the rally could flatten out into the second half as the macroeconomic outlook remains uncertain, the latest forecasts show from
Iran is set to get its first Floating Liquefied Natural Gas (FLNG) terminal by March 2017, according to Ali Kardor, the vice president for finance and investment affairs of the National Iranian Oil Company (NIOC). Kardor said that Iran is in talks with an undisclosed Norwegian company on a plan to b
Iranian tankers are to be registered under Panama’s flag which will enable them to pass through one of the world’s busiest shipping lanes, the Panama Canal, the two countries agreed. Director of National Iranian Tanker Company (NITC) Ali Akbar Safaei announced the deal following a meeting with Jorge
