DEME, the Belgian dredging, hydraulic engineering and environmental solutions group, has secured a number of new contracts worldwide. The total value of these orders is approximately 1.6 billion EUR. Foremost important is a Letter of Award received in Singapore. The Maritime and Port Authority of Si
United Arab Shipping Company (UASC), the French liner CMA CGM and Germany’s Hamburg Süd have agreed to form a new service on the Transatlantic North trade routes, linking Northern Europe with the United States East Coast. The new service, starting in the third week of May, will call at the ports of
The time is right for the private equity sector to finance products and services designed to keep the shipping industry competitive and achieve regulatory compliance, the international accountant and shipping adviser Moore Stephens says. Alison Jarabo of maritime efficiency specialist Fathom Shippin
The implementation of the new marine pollution regulation in North Europe and the US since January has so far resulted in zero extra costs for shipping lines and shippers, according to Drewry Maritime Research. Resistance from shippers and the opportune collapse of oil prices have neutralised the co
The shipping industry is at a high risk of unauthorised and/or erroneous payments due to the nature of the movement of cash throughout the industry, according to UK-based consulting firm Moore Stephens. Shipping, being a cash-driven business, and the combination of large, frequent and often short-no
The CKYHE alliance between the Asian liners COSCON, ”K”Line, Yang Ming, Hanjin and Evergreen Line is reorganizing their service network for Asia-North Europe and Asia-Mediterranean trades in 2015. CKYHE Alliance will provide six Asia-North Europe services (NE2/NE3/NE5-CEM/NE6/NE7/NE8-CES) and three
Kuwaiti Oil Tanker Fights Off Pirate Attack A Kuwaiti oil tanker sailing through the Gulf of Aden managed to fend off a pirate attack on Sunday, February 8th.…Read more Pieter Schelte Becomes Pioneering Spirit Swiss-based owner of Pieter Schelte Allseas Group SA said that the vessel is being renamed
Picture of the Day: ‘Artemis’ in New Suez Canal The New Suez Canal dredging program is moving ahead. The Van Oord’s self-propelled cutter suction dredger ‘Artemis’ arrived two days ago at the site and started work immediately. VIDEO: Reuse of Dredged Materials by DEME DEME has […]
During a yesterday’s meeting in Brussels, European Union members reportedly decided to again blacklist Iran’s largest tanker operator National Iranian Tanker Company (NITC), after the company failed to convince a London Court to prevent the EU from reimposing sanctions, Reuters reports. The earlier
The Baltic Dry Index has fallen to 540 points February 12, marking a further 13 point (-2.35%) slide compared to the previous record low of 553 points reached just a day earlier. Dry bulk owners have seen their earnings slashed as a result of the index fall, some of them even forced to resort to ban
Topaz Energy and Marine, an offshore support vessel owner with key operations in the Middle East, Caspian and West Africa has announced the appointment of Jay Daga as Chief Financial Officer, with immediate effect. Daga has been with Topaz for 15 years, holding a number of finance positions of incre
2015 will be good for the shipping industry with sector specific risks projected to decline and new investment slated to flow in, the investment analyst Zacks predicts. Cheaper fuel will be a major positive for shipping companies this year, according to Zacks. The slump in crude is expected to signi
The International Chamber of Shipping (ICS) has published its annual Shipping Industry Flag State Performance Table, warning that there are a number of smaller flag states that still have considerable work to do, and shipowners may wish to think very carefully about using such flags. The largest of
Maersk Line has launched a new Middle East 5 (ME5) service to enhance direct connections between South India, Middle East and Western Mediterranean markets. This service will also improve the company’s coverage of the Eastern Mediterranean market with faster transit times into Turkey, Egypt and Russ
