Last Thursday, 26 February 2015, the Deputy Emir of Qatar His Highness Sheikh Abdullah bin Hamad Al Thani officially started the controlled flooding operations for the new Hamad Port Project in the presence of His Highness Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and His Excellen
The trend of ordering ultra large container ships seems to have picked up the pace recently as more and more lines look to expand their fleets with giant boxships. Drewry Maritime Research has investigated if the lines, many of whom are still in serious debt, will be able to both finance and pay bac
A cargo ship carrying around 350 head of cattle sank off the south coast of Oman February 28, the country’s daily The Times of Oman reports. The ship was sailing from Somalia to the United Arab Emirates when it encountered high waves and strong winds off Ras Al Hadd, in Oman’s Asharqiyah province, a
Picture of the Day: Dredgers Crowding New Suez The New Suez Canal project is currently under construction and is scheduled to be delivered next August. Chief Mate Guilty Over Fatal Dredger Collision On the 8th June 2014 the Shoreway, a 98 metre 5000 tonne dredger, owned […]
The Greek dry bulk carrier and tanker operator NewLead Holdings has entered into its first contract of affreightment with an undisclosed client for one of the five bitumen tankers recently added to the fleet. The 2009-built Katerina L has been chartered for a period of ten months, and will ship a mi
A record volume of tonnage is reported to have changed hands in 2014 and reported secondhand sales rose by 29% year-on-year to total 51.0m GT in 2014, according to Clarksons. The reported value of secondhand sales activity totalled USD 26.1bn, up 26% y-o-y. There was interest in the larger sizes and
The shipping industry has supported efforts to address aquatic invasive species through ballast water treatment (BWT) standards, but for a capital expenditure of over USD 60 billion, a legal regime that offers greater clarity, predictability, and investment certainty is needed, according to World Sh
Subsea World News has put together a recap of the most interesting articles from the previous week (February 16 – February 22). French oil services provider, Technip, has recorded net income drop of 40% in the fourth quarter after adjusted non-current items, despite revenue growth. The Company’s adj
VIDEO: Freighter Sinks in the Black Sea St. Kitts and Nevis-flagged general cargo ship Fort Azov sank yesterday in the Black Sea, one mile off the coast near the town of Ayancik in Turkey’s Sinop province, the Haber Turk reports.…Read more India Intercepts Fleeing Russian Cargo Ship The Indian Coast
A mutual shipping insurance association The Shipowners’ Club has warned its members to exercise caution and undertake enhanced due diligence when entering into new fixtures with unknown charterers, especially those that involve trade to countries where sanctions may apply or where there is limited j
Iran has inaugurated a 2.2-million-barrel floating oil storage unit (FSU) Khalij-e-Fars, in Soroush oil region on February 8th, writes IRNA news agency. The inauguration was marked by the first oil shipment from the FSU to a crude carrier KAI-EI, owned by Kyoei Tanker company. The FSU, built by Sout
Israel will sell stakes in eight of the most profitable state-owned companies and the Mediterranean seaports of Haifa and Ashdod in November or December, Reuters reports. According to Ori Yogev, the official at Israel’s Ministry of Finance, the ten companies to be sold generate close to 90% of total
Liner service reliability fell to a record low in January as the effects of US West Coast congestion and the phasing-in of new alliance services took their toll, according to Drewry’s Carrier Performance Insight. The overall on-time performance for the three key East-West trades slumped to a disappo
The increased collaboration between the French container ship operator CMA CGM and Germany’s Hamburg Süd will bring the container liner market one step closer to total convergence, the European Shippers’ Council warns. This will reinforce the risk of reducing service quality and sailing frequency as
