Six new Very Large Crude Carriers indicate that 2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, according to BIMCO. The six new VLCCs were delivered in a strong winter market. Having reduced sl
Gallery: SMIT Salvage Team Boards Modern Express, Attaches Tow Line The four-member salvage team of SMIT Salvage has managed to board the drifting car carrier Modern Express earlier this morning and set up a tow line, French Maritime Author… Read More Bahrain, Saudi Arabia Ban Iranian Ships from The
If dry bulk ship-owners collectively removed half of all capesize ships over 12 years old, equating to around 20 million dwt of capacity, it would enable earnings to return to profitability by 2018, according to the latest estimates from Drewry. The shipping consultancy believes that dry bulk shippi
Italian shipbuilding conglomerate Fincantieri has signed a number of framework agreements with Iranian counterparts during an official visit of an Iranian delegation to Italy. Fincantieri said that these were preliminary understandings pending reaching of several contracts worth hundred million euro
The crude oil tanker market is expected to grow strongly in 2016, with projected fleet increase of 4.3%, BIMCO said. Most of the new tankers will be delivered in the second half of 2016 and the demolition activity is likely to stay subdued as the market enjoys high rates. Following a considerably qu
Lamprell Energy Limited has signed an MOU with the national oil company of the Kingdom of Saudi Arabia Saudi Aramco, the National Shipping Company of Saudi Arabia (Bahri) and Hyundai Heavy Industries to form a partnership collaboration on establishing a maritime complex in Saudi Arabia. The intended
Overall contracting of new vessels in 2015 dropped by 40% to 1,306 units from 2,162 in 2014, with estimated newbuild investment falling from USD 113bn to USD 69bn, according to Clarksons Research. Investors abstained from newbuild opportunities due to tough market, and the overall newbuilding price
The lower fuel price may not be such a blessing for containership owners after all, especially with relation to slow-steaming which was originally introduced as a way to deploy more ships without increasing capacity on the strings. Nevertheless, despite lower bunker costs that have been warmly welco
Dry bulk shipping capacity of 40 million DWT will be sold for demolition during 2016, making this year the busiest year on record for shipbreaking, according to BIMCO’s forecasts. The prediction comes on the heels of a yet another miserable year start for the industry sector with eroding freight rat
VIDEO: Russian Ship Aground in Japan, 18 Evacuated Some 18 people were evacuated from a Panama-flagged cargo ship after it ran aground on Sunday December 10 on a breakwater at the approach to the Japanese Sakata port the… Read More Seaman Guard Ohio Crew Sentenced to Five Years An Indian court has s
Iran seems to be losing no time with the preparations for the post-sanction era which seems to be ever closer. Namely, the country is in talks with European counterparts Belgium, France and Germany on construction of liquefied natural gas (LNG) tankers, PressTV reports citing Managing Director of th
UAE provider of shipbuilding and shiprepair services Abu Dhabi Ship Building PJSC (ADSB) has penned a Memorandum of Understanding (MoU) with Drydocks World to establish an industrial entity to strengthen maritime projects in the UAE. Under the MoU, the two parties plan to enhance knowledge transfer
As we enter the new year, let’s take a moment to take a look at the most interesting articles selected by our readers. The following are the most read news in 2015, enjoy! VIDEO: Pieter Schelte Reaches Rotterdam The world’s largest vessel Pieter Schelte owned by Allseas has arrived in Rotterdam the
The end of December and coming holidays are traditionally the time when we look back at the highlights of the ending year. World Maritime News is kicking off the 2015 retrospective with its Top 5 series, the first of which is the list of our 5 most read interviews of the year. Interview: Insufficien
