Coal and iron ore shipping rates may extend gains to records this week on rising demand to transport raw materials across the Pacific and the Atlantic amid a limited supply of vessels. The Baltic Dry Index, an overall measure of commodity shipping costs on different routes and ship sizes, advanced 3
U.S. Coast Guard crews have found two of six people reported missing from an abandoned fishing boat found in disarray north of Cuba — 160 miles south of their destination in the Bahamas.
While being anchored to upload nearly 1,500 tonnes of rice to a ship to Indonesia, four barges were suddenly hit by a 10,000 tonne ship of Panama named Hutuohe. One barge sank deep in the river.
Prime mover with more power, less exhaust emissions while maintaining high efficiency for electricity power generation on heavy fuel oil. Wärtsilä Corporation today introduced the new 20-cylinder 46F engine for power plant installations burning heavy fuel oil. The new engine develops 23,000 kW at 60
Benetti has announced that it signed four contracts in the first day of Monaco Yacht Show last week: a 45m, a 60m, a 62m and a 65m. The 65m superyacht will be from the Amnesia series, the owner having already invested in three Benetti’s (the third will be completed in March 2008).
Ericsson Racing Team have confirmed that Finland’s Thomas Johanson will join skipper Anders Lewander’s Nordic crew for the 2008-09 race. For 38-year-old Johanson, a 49er Olympic gold medallist at Sydney in 2000, this will be a first round the world assignment. ‘I have been thinking about sailing aro
The Board of directors of ZIM approved this week the purchase 8 ships of 12,600 TEU with an option to buy one more. The ships will be built in Korea and will be delivered at the beginning of 2012. The cost of each ship is of about $170 Millions, and their size and capacity will […]
Shell Development (Australia) Pty Ltd (SDA) today announced that it has signed a strategic agreement with Malaysia’s national oil corporation PETRONAS that will strengthen Shell’s and PETRONAS’ gas asset positions in Malaysia and Australia, respectively.
This week a reader asks about how much the now open Northwest Passage will save in shipping emissions. This year, for the first time in recorded history, the Northwest Passage has become fully ice-free. This means that this Northern sea route around the Americas is now fully navigable, and will beco
Aker Kvaerner has signed a contract with Statoil for the manufacturing and supply of steel tube umbilical control cables for the Gjoa field in the North Sea. The contract is worth approximately NOK 260 million. Aker Kvaerner will deliver about 16 kilometres of dynamic and static umbilicals to Statoi
The Board of Directors has decided to commence a process of evaluating the possible effects of a split of Prosafe into two focused, listed companies. (24 Sep 2007). The evaluation will primarily address whether a split into a floating production company and an accommodation/ service rig company woul
Shipbuilder Austal will use the newly acquired Margate shipyard near Hobart to supply lucrative military contracts. The West Australia-based company bought the operations of North West Bay Ships in February last year. Austal chairman John Rothwell said the facility was ideally suited to building ves
However, the Nigg fabrication yard on its northern shores was a true giant in terms of employment and the economy. Highland Council is leading a series of talks on how to breath new life into the rundown site before it falls into disrepair.
To make the seas safer, 11 countries participated in a technology-driven exercise coordinated from Key West to test joint response to terrorism, drug smuggling and piracy.
