Israeli containership owner and operator ZIM has managed to cut its loss for the quarter ending September 30 on the back of improved freight rates and the decline in fuel prices, the company said in its financial report for the third quarter 2014. The USD 3.4 billion debt restructuring, which includ
The European Shippers’ Council (ESC) says that shipping industry needs a global authority to keep Vessel Sharing Alliances (VSA) in check, as they are a risky development for the free market for transportation of goods over sea. According to the ESC, the global market will be in the hands of four ma
Reflecting stumbling growth in the world economy, world seaborne shipments grew by an average of just 3.8 per cent in 2013, taking total volumes to nearly 9.6 billion tons, UNCTAD’s Review of Maritime Transport 2014 reports. Much of the expansion in seaborne trade was driven by growth in dry cargo f
To promote liquefied natural gas (LNG) as fuel within the maritime and offshore industry a memorandum of understanding (MOU) was signed today between DNV GL and Qatar’s premier shipyard Nakilat-Keppel Offshore & Marine (N-KOM). The signing ceremony took place during DNV GL’s 150th anniversary celebr
Blackbird International Corporation’s fully owned affiliate , Wave Electricity Renewable Power Ocean (WERPO), has received the rights for all of SDE Ltd’s technological property, patents, expertise and contracts thus taking control of SDE’s endeavors in China. It has been authorized to further work
DNV GL and Qatar’s shipyard Nakilat-Keppel Offshore & Marine (N-KOM) have signed a Memorandum of Understanding to promote liquefied natural gas (LNG) as fuel within the maritime and offshore industry. The MOU will further strengthen the position of N-KOM, which is a joint-venture between Qatar Gas T
The global maritime industry is undergoing a very challenging period with industry stakeholders opting for automation of their business operations as much as possible. As the industry pushes further for technological advancement, for many branches it has been very difficult to employ people, especia
Quality is the paramount and must be maintained by continuous enhancement of shipbuilding standards, classification survey standards and ship operating procedures, it was concluded during the annual Tripartite meeting between shipowners, shipbuilders and classification societies in Shanghai. The mee
BAM International, the operating company of Royal BAM Group active outside of Europe, has been awarded a contract to construct the marine infrastructure for the phase 3 of the Al-Dabbiya oil field development by client Abu Dhabi Company for Onshore Oil Operations (ADCO). BAM expects to complete this
DP World’s flagship Jebel Ali Port is the world’s most productive according to the latest port productivity report from the US-based Journal of Commerce (JOC). The rankings are based on the average moves of containers per ship, per hour, in 2013 as reported by shipping lines themselves, representing
The AIDAaura cruise ship visited Abu Dhabi’s Zayed Port for the first time on Monday, November 17. This is the port’s second vessel call in the cruise season 2014/15 which according to Abu Dhabi Ports Company (ADPC) will be the busiest to date. The AIDAaura belongs to German tour operator AIDA Cruis
Oman Shipping Company (OSC) has taken delivery of the Adam LNG, which is described as one of the world’s most advanced fuel efficient LNG carriers. The 162,000 cubic metres capacity vessel was built by Hyundai Heavy Industries (HHI) in Ulsan South Korea. The newly-delivered LNG carrier will operate
Ackermans & van Haaren, a diversified group active in 5 key segments: Marine Engineering & Infrastructure (DEME,one of the largest dredging companies in the world), Private Banking, Real Estate, Leisure & Senior Care, Energy & Resources and Development Capital, today announced its 2013 half-year res
Gulf Marine Services (GMS) has confirmed that a contract extension has been exercised for one of its Large Class vessels in the Southern North Sea. The extension is for an SESV that has been chartered to an International Oil Company since Q3 2012. GMS did not disclose the name of the client. The con
