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Business & Finance

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Mutriba Enters KOTC Fleet
Business & Finance

Mutriba Enters KOTC Fleet

The fourth and final 31,445GT Product Tanker Mutriba, built by Hyundai Mipo Dockyard Co., Ltd. (HMD) as part of a series of vessels being constructed for the Kuwait Oil Tanker Company S.A.K. (KOTC) was officially delivered to KOTC at a ceremony held in Kuwait on October 20, 2014. The Mutriba is the

about 12 years ago
First Vessel Calls at DP World’s New Terminal
Business & Finance

First Vessel Calls at DP World’s New Terminal

DP World has today welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility. The first vessel to call at the port was ‘APL Phoenix’. “We are proud to welcome the APL Phoenix to Terminal 3 as [&

about 12 years ago
Clyde and Co: Ships with Fatigued Crew Unseaworthy
Business & Finance

Clyde and Co: Ships with Fatigued Crew Unseaworthy

If a ship’s crew doesn’t receive enough rest while trying to keep up with a ship’s schedule, there should be a regulatory framework under which the ship could be considered unmanned or unseaworthy, Law firm Clyde and Co claims. However, there have been no reported judgments to form a precedent in or

about 12 years ago
DP World: New Terminal Welcomes the First Vessel
Business & Finance

DP World: New Terminal Welcomes the First Vessel

DP World today, October 22nd, welcomed the first scheduled vessel, the ‘APL Phoenix’ to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility. Once fully operational next year, the world’s most modern container terminal will add

about 12 years ago
ADPC Investments Pay Off
Business & Finance

ADPC Investments Pay Off

As one of the UAE’s leading enablers of development and trade, Abu Dhabi Ports Company (ADPC) is fast progressing while taking significant steps on its way to diversify Abu Dhabi’s economy. Only two years after the start of commercial operations, ADPC’s state-of-the-art Khalifa Port now ranks number

about 12 years ago
Aqaba Port Strike Ended
Business & Finance

Aqaba Port Strike Ended

The ITF (International Transport Workers’ Federation) reports that port workers at the Aqaba Container Terminals (ACT) facility in Jordan run by APM Terminals have ended their strike after reaching a deal with the company’s management. Workers represented by the ITF-affiliated General Union of Port

about 12 years ago
Maritime Industry Needs Green Agenda Incentives
Business & Finance

Maritime Industry Needs Green Agenda Incentives

88% of the maritime industry agrees that the ‘Green Agenda’ is good for the global industry, but less than 46% say it actually offers good value for money, according to a survey carried out by the Institute of Marine Engineering, Science and Technology (IMarEST). With around 200 responses, the surve

about 12 years ago
Ras Laffan Terminal Operations Notches 5,000 Loadings
Business & Finance

Ras Laffan Terminal Operations Notches 5,000 Loadings

Qatargas’ Ras Laffan Terminal Operations (RLTO) marked the loading of its 5000th cargo on October 13, the equivalent of more than two billion barrels of product. The 5000th cargo also marks the first cargo of ultra-low Sulphur diesel from Ras Laffan Port. Ultra-low Sulphur diesel, with less than 10

about 12 years ago
NMDC: Al Mirfa on the Way to Suez
Business & Finance

NMDC: Al Mirfa on the Way to Suez

National Marine Dredging Company (NMDC) will take part in an ambitious world class project to dredge the 35km of the New Suez Canal, parallel to the existing one. The $1.5 billion contract for the project was announced on October 18th by the Head of the Suez Canal Authority, Admiral Mohab Memish and

about 12 years ago
Drewry: Slow Steaming Keeps Overcapacity at Bay
Business & Finance

Drewry: Slow Steaming Keeps Overcapacity at Bay

Drewry Shipping Consultants says no matter how low the oil and bunker prices go, it is confident that ocean carriers will not return to sailing container ships at their design speeds for fear of flooding the market with the latent capacity that has been held in check by slow steaming. Despite bunker

about 12 years ago
Hike in Freight Rates Not an Option?
Business & Finance

Hike in Freight Rates Not an Option?

A hike in freight rates is not an option as ‘sub-economic’ rates on the main trade lanes are here to stay, it was concluded by leading shipping lines meeting at the TOC Americas conference in Cartagena. Freight rates pegged below most carriers’ operating costs, good for shippers, bad for inefficient

about 12 years ago
Tamar partners in Egypt gas supply deal
Business & Finance

Tamar partners in Egypt gas supply deal

Tamar Partners have signed a Letter of Intent to supply gas from the Tamar gas field, off Israel, to Egyptian company Dolphinus Holdings Limited. The plan is to supply the gas using the existing gas pipeline operated by East Mediterranean Gas Ltd (“EMG Pipeline”). The letter of intent includes sever

about 12 years ago
MEPC Approves Draft Polar Code
Business & Finance

MEPC Approves Draft Polar Code

The Marine Environment Protection Committee (MEPC) of the International Maritime Organization (IMO) has approved the environmental provisions in the draft International Code for Ships Operating in Polar Waters (the Polar Code), together with associated draft amendments to the International Conventio

about 12 years ago
GMG shipyard orders jacking system from TSC
Business & Finance

GMG shipyard orders jacking system from TSC

TSC Group Holdings’ subsidiary Zhengzhou TSC Offshore Equipment Co., Ltd. has secured a jacking system order from GMG shipyard (GSHI). GSHI specializes in the research and manufacture of offshore engineering equipment and special-purpose vessels. TSC Zhengzhou will provide GSHI with a set of jacking

about 12 years ago
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