The Ultra Large Container Vessels (ULCV) will take over shipping routes between Asia and Europe, as smaller containerships are no longer seen as competitive when it comes to unit costs, compared to behemoth Maersk Line Triple-E 18,000 TEU ULCV. Demand for these huge vessels is higher then ever. Ju
Dana Gas, the Middle East’s largest regional private sector natural gas company, today announced its financial results for the six months of 2014 and second quarter ended 30 June 2014. In the second quarter of 2014, the Company reported a 70% jump in net profit to $ 46 million (AED 169 m) as compare
The top 25 port and terminal operators in each region around the globe all increased productivity in 2013, according to the latest data on port productivity provided by the Journal of Commerce (JOC). The JOC database relates to specific data from individual terminals based on average moves per hour,
The global fleet of idle containerships has seen its lowest level since 2011, according to the figures reported by analyst Alphaliner. The idle fleet stands at 119 vessels over 500 teu, totalling 230,900 teu as of 28 July and at 85 units in 500 – 2,000 teu range over the last two weeks. The [&hell
The Kurdistan Regional Government (KRG) of Iraq asked a U.S. court on Monday to dismiss seizure order of 1 million barrels of disputed crude oil and allow the cargo to be freely delivered in Texas, Reuters reports. The idle United Kalavrvta pending unloading amid cargo ownership dispute has clocked
Dragon Oil has reported operating profits of $388.5 million for the six months to the end of June, 20% up on last time. Revenues were 11% higher at $547.0 million and profit for the period rose by 20% to $289.0m. Average gross production rate was approximately 73,440 barrels of oil per day compared
Three global shipping organisations issued on Monday guidance to their members on the risks posed to ships’ crews calling in countries affected by the Ebola virus. The ICS (International Chamber of Shipping), IMEC (International Maritime Employers’ Council), and the ITF (International Transport Wo
The container leasing sector experienced another year of stellar growth in 2013 thanks to the continuing weakness of carrier financials, according to shipping consultant Drewry’s recently published Container Leasing report. Drewry forecasts that this trend will continue. The leased container fleet
Arab Shipbuilding and Repair Yard Company (ASRY) has launched a new department dedicated to military projects called the Navy Defence and Industrial Projects (NDIP) Department. The specialised team, headed by Anthony Haile, formerly of the UK Royal Navy is expanding ASRY’s experience in the defenc
Ships calling on shipyards for finishing touches is the equivalent of a day at a spa for us. Check out this time lapse video of a Damen-design fast crew ship supplier Allianz Juno receiving a royal treatment at the Damen shipyard in Sharjah, United Arab Emirates. Damen Shipyards Sharjah FZE, the new
TOC Events Worldwide has announced that H.E Ambassador Alfonso Múnera, Secretary General of the Association of Caribbean States (ACS) will give a keynote address at the 14th edition of its TOC Americas conference and exhibition, taking place on October 14-16 in Cartagena, Colombia. This will be the
Piracy has become a lucrative business and an ever more dangerous for those being targeted by it. Once at sea, seafarers expose themselves to various dangers, especially from those lurking from the shadows. As hijackings become more frequent and more intense, we wanted to find out more about piracy
World’s largest LNG exporter Qatar has acquired 51.3 pct stake in the United Arab Shipping Company (UASC), thus becoming the company’s majority stake owner. Before the acquisition, the governments of Kuwait, Qatar, Saudi Arabia, the United Arab Emirates and Iraq each had a 19.3% stake in the shipp
Marine seismic specialist Polarcus has informed that it will not be acquiring seismic data under the Letter of Intent signed in June. The company on June 16, 2014, received a Letter of Intent for a 3D marine seismic survey project for an undisclosed customer offshore West Africa. However, following
