The 2014 had been a much more rewarding year for owners than 2013 with positive spikes seen in the spot market and a definite shift in sentiment, with reasonable expectations for the second half of the year, according to the UK shipbroker Gibson. Based on Gibson’s latest Weekly Tanker Report, some 3
As the shipping industry progresses toward bigger and ever more complex ships we are seeing shipbuilding giants battling for supremacy in building a better, bigger and more advanced vessel. The slightest upgrades in size or efficiency can bring in enormous profits or slash operational costs on a glo
The image depicts jack-up rig Dukhan, delivered last month to Gulf Drilling International Ltd. (GDI) of Qatar by its builder Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine. Keppel FELS has secured a contract from GDI to build a repeat high-specification KFELS B Class jack
United Nations’ International Maritime Organization (IMO) has finalized draft consolidated, internationally binding regulations on the use of liquefied natural gas. The regulations were finalized at the annual session of the IMO Sub-Committee on the Carriage of Cargoes and Containers (CCC 1), where
The 9th annual Navingo Maritime & Offshore Career Event (MOCE) will be held on Wednesday 22 April 2015 at the Beurs World Trade Center in Rotterdam. During the 2014 event the organizer, Navingo BV, welcomed 4.449 visitors and 131 exhibitors, making this the most comprehensive career event in maritim
The increasing stress placed on land based logistic networks is driving the search for alternatives. One of the most promising is short sea shipping; therefore researchers at classification society DNV GL have developed “ReVolt”, a vessel that is greener, smarter and safer than conventionally fuelle
Researchers at Norwegian Marine Technology Research Institute (MARINTEK) believe that in ten to twenty years time there will be 200 metre cargo vessels plying the oceans without the need of a captain or crew. “But before this can happen, we will be seeing the technology working on an existing vessel
Floating production systems remained in demand this year as the offshore gas and oil industry have spent over USD 16 billion on newbuild contracts, Energy Maritime Associates (EMA) announces in its analysis of the floating production sector published in 2014 Q3 Report for FPSOs, Semis, TLPs, FLNGs,
United Arab Emirates-based classification society Tasneef has signed a contract with Drydocks World to provide the classification and maritime surveying services to the Drydocks World’s fleet comprised of 11 ships. Three ships have already been surveyed (Shindagha-5, Umm Suqeem and Zabeel-4). As for
A sharp rise in LPG shipping demand, particularly out of the US, is driving an ordering frenzy for very large gas carriers (VLGCs) which will increase the size of the LPG shipping fleet by over 50% over the next two years, according to the LPG Forecaster report published by shipping consultancy Drew
Lloyd’s Register has issued a report entitled Seaborne Ethane: a Report into the Commercial Need and Technical Requirements for Very Large Ethane Carriers that looks at the commercial landscape, regulatory issues and technical realities of a new trade in ethane emerging as a result of increased US g
Continuing weak demand and excess tonnage are expected to depress LNG shipping earnings in the near term. But longer term the sector could face vessel shortages as ordering slows and liquefaction projects come on stream, according to the LNG Shipping Market Annual Review and Forecast report publishe
A couple of orders to report in dry sector this week with Santoku Senpaku adding further Kamsarmax to their orderbook, this time for two firm 82,000 DWT bulk carriers at Tsuneishi Zosen with delivery in 2017, according to Clarkson’s Hellas S&P Weekly Bulletin. Navibulgar has also contracted four fir
The summer lull that took over the newbuilding market is not over yet, as prices for new ships are forecast to continue to soften, according to London-based shipbroker Gibson. The dowturn has stricken the tanker product orderbook the strongest, as explained by Gibson, with Tsakos Energy’s order for
