TEHRAN (Fars News Agency)- An Iranian barge was drowned in the Keren region in the Iraqi waters of the Persian Gulf on Monday, a high ranking military official said. The barge carrying civilian commodities, including tires, blankets and detergents, was en route from the Emirates port of Sharja to th
The European Commission said Monday it was still awaiting details from Poland on government subsidies for shipyards after warning Warsaw that failure to reply could force the EU to demand the troubled yards repay the funds. Poland missed an Aug. 31 deadline to provide more information to prove that
China’s biggest offshore oil producer and the country’s second-largest bank have reported soaring profits. China’s top offshore oil and gas producer, CNOOC, has posted a 38 percent jump in earnings for the first half of the year. The better-than-expected results were driven by soaring energy prices
UK-BASED international shipbroker and consultant Galbraith’s says the worldwide dry bulk freight market is set to grow at an average rate of 2.5 per cent until 2010, in line with demand but capacity will grow faster. Fleet capacity is likely to grow by 24 per cent over the same period, with a 7.2 pe
The volume of new oil tankers delivered into service next year will leap 20% to a 31-year high, adding pressure to global freight rates that will be marginally offset by scrapping older vessels. Next year
Bangladesh’s Chittagong port, which handles 90 percent of export import trades and was completely closed on Saturday, started partial operation on Sunday as two shipping companies lifted their boycott of the port following a court ruling that surcharge on containers was illegal. Bangladeshi Commerce
THE shipping industry, especially the offshore supply shipping services sector, was in for disappointment again when its requests for changes in the fiscal structure were once again left out in the Budget proposals for 2007 announced last Friday. The industry had through the Malaysian Shipowners’ As
More than 1,300 illegal immigrants from Africa have landed in Spain’s Canary islands this weekend. Spanish police said 674 migrants arrived in makeshift boats on Saturday, and 664 more were reported to have landed on Sunday. Spain has been struggling to cope with the recent influx and is trying to o
For 124 years, Matson Navigation Co. has dominated the waters between the West Coast and Hawaii. The Oakland, Calif., company has ferried automobiles, pineapples and even people on its way to capturing 60 percent of the cargo business between the mainland and the islands. Now, one of the last of the
Doha
According to an exclusive report by Fairplay, the Panama Maritime Authority (AMP) is to make recommendations to the International Maritime Organisation (IMO) that revisions be made to the ISM Code in particular with respect to the incorporation of drills that recreate real, practical scenarios. Thes
i-Tech, the recently-created division of global subsea construction and engineering contractor Subsea 7 Inc. (OSE Symbol: SUB), has today announced the award of two new contracts with an estimated total value of approximately $20m. i-Tech has been awarded a four year contract by Alfanave Maritime Tr
The Perini Navi fleet is meeting in the waters off Porto Rotondo, where they will compete to win the first place in the Perini Navi Cup race, which will take place on September 8 and 9. Among the contenders are the last-born in the Perini fleet: the Maltese Falcon, 88 meters, and the Heritage sloop,
Work has begun on the 116,000-tonne liner Ventura, the largest vessel ever built for the British cruise market. The P&O Cruises ship is being constructed at the Fincantieri shipyard in Italy and will enter service in April 2008. The 950ft (290m) long vessel will accommodate 3,100 passengers and will
