News
Uninsured Losses after Collisions to Be Recovered
A new insurance solution has been launched by the Swedish Club providing upfront cover for the uninsured losses that are expected to be recovered from a third party following a collision. Following a serious incident at sea, shipowners can find themselves struggling to maintain cash flow, despite ha
Novatek’s Q3 profit climbs
Russian LNG export project developer, Novatek reported a 3.4 percent increase in its profit in the third-quarter of this year as compared to the same period the year before. Profit attributable to Novatek shareholders increased to 37.7 billion roubles ($654.8 million), the company said on Wednesday.
Thailand to focus on securing long-term LNG supply deals
Thailand’s imports of liquefied natural gas on long-term contracts could see a significant climb by 2036.
Australia: OEPL Seeks Permit to Explore Site for Massive OWF
Offshore Energy Pty Ltd (OEPL) has requested a permit from the Australian Government to conduct a feasibility study for a proposed offshore wind farm off the coast of south-eastern Victoria, which would have up to 250 turbines and a capacity of at least 2GW.
Substantial Share of Dry Bulk Fleet Older Than 20 Years
There is still a considerable number of vessels in the dry bulk pool older than 20 years that are the likely candidates for demolition. Namely, in the Handysize sector 15 % of the fleet is built before 1997 totaling in 365 ships, in the Handymax/Supramax sector 4% of the fleet is older than 20 years
Jones Bros Helps Build New Quayside for Walney Extension
DONG Energy has appointed Jones Bros to help build new quayside infrastructure for the 659MW Walney Extension offshore wind farm being built in the Irish Sea.
Gunvor, Gas Natural Fenosa place lowest bids in Pakistan LNG tender
Swiss trading company Gunvor and Spanish LNG operator Gas Natural Fenosa submitted the lowest bids in a tender to supply Pakistan with four liquefied natural gas cargoes in January. State-run Pakistan LNG launched the tender in September with four delivery windows across January. The cargoes will be
MassCEC Assesses Offshore Wind Ports and Infrastructure
The Massachusetts Clean Energy Center (MassCEC) has published an assessment of 18 Massachusetts ports and waterfront sites, and a supply chain directory of 320 state and regional small businesses that can contribute to the offshore wind industry.
Mitsui in talks to invest in another JV with Akastor
Norwegian oil service investment company Akastor is in advanced discussions with Japanese trading and investment company Mitsui to further expand their current partnership to include AKOFS Offshore. Akastor-owned AKOFS Offshore is a vessel-based subsea well construction and intervention services pro
K2 Management Takes On Advisor Role at Triton Knoll
K2 Management has won a contract to deliver an independent technical and commercial advisory mandate for the 860MW Triton Knoll offshore wind farm in the UK.
K2 Management Takes On Advisor Role at Triton Knoll
K2 Management has won a contract to deliver an independent technical and commercial advisory mandate for the 860MW Triton Knoll offshore wind farm in the UK.
OOCL’s Mega Boxship Grounds in Suez Canal
Orient Overseas Container Line’s (OOCL) new 21,000+ TEU size containership briefly ran aground in the Suez Canal on October 18, the company confirmed to World Maritime News. The 21,413 TEU ultra large container vessel (ULCV) was en route from Singapore to the UK, data provided by VesselsValue shows.
Novatek Considering LNG Carrier Order at Zvezda
Russia’s Novatek, the majority shareholder in Yamal LNG project, is looking into a possible order of a new batch of liquefied natural gas (LNG) carriers at compatriot Zvezda Shipyard. “Possible order at the Zvezda Shipyard is in the preliminary study stage. At this point, we cannot say anything conc
Costamare Secures Loan, Reports Strong Quarter
Greece-based containership owner Costamare has entered into a loan agreement to finance the acquisition of 7,471 TEU containership, Maersk Kowloon. The 2005-built vessel was acquired in the previous quarter and commenced its 5-year charter to Maersk Line. The loan facility, agreed in August 2017 wit