A study carried out by the Economática consultancy firm ranked Petrobras as the company with the highest market value in Latin America.
OceanFreight Inc., a global provider of seaborne transportation services announced the acquisition of its eleventh vessel. The Company announced it has agreed to acquire a 1996 built 149,085 dwt double-hull Suezmax tanker from interests associated with George Economou for $65 million, thereby expand
An emergency operation is under way to stabilise a chemical tanker in Weymouth Harbour in Dorset. The 41,766-tonne Norwegian tanker ‘Mariella’ is dragging its anchor in 45-knot winds.
Dubai Drydocks World, the shipbuilding arm of state investor Dubai World, is eyeing yards in China, India and Vietnam, to expand capacity in the hot business of rig building with oil at records near $100 a barrel.
South Korean shipbuilder C&Heavy Industries Co said on Thursday it had won a 99.5 billion won ($106.2 million) order for two bulk ships from an unidentified European company.
South Korea’s Posco is interested in acquiring Daewoo Shipbuilding & Marine Engineering but no decision has been made yet, Posco Chief Executive Lee Ku-Taek said Thursday.
With increasing levels of freight using the Salerno Container Terminal, the investments in developing facilities look set to further raise the levels of sea freight in Italian waters. As the last privately owned terminal in Italy, it is looking to the support of its parent group to ensure ongoing pr
A man has gone missing from a car ferry travelling between Hampshire and the Isle of Wight. He was one of three foot passengers who boarded the 0700 GMT Red Funnel ferry at Southampton this morning.
An Indian Navy Submarine called Sindhughosh collided with a merchant navy ship on Monday in the Arabian Sea. The submarine was trying to surface in Arabian sea near 300 km north of Mumbai.
The most vocal militant group in Nigeria’s oil-producing south claimed responsibility on Thursday for an attack on four ships earlier this week and warned of more attacks. ‘Freelance freedom fighters sponsored by the Movement for the Emancipation of the Niger Delta (MEND) carried out the harassment
Reclamation at Dubai Promenade is being undertaken by Van Oord. It is due to be completed in the first quarter of 2008 with a total of some 750,000 tons of rock being placed and 650,000 cubic meters of sand reclaimed.
The Great Eastern Shipping Co Ltd. (G E Shipping) has signed a contract to sell its nondouble hull panamax product carrier “Jag Anjali”. The 1986 built, 66,203 dwt vessel was acquired in Apr il 2003.The ship is scheduled to be delivered during the fourth quarter of FY 2008.
Exxon Mobil Corporation announced today that its subsidiary, Esso Exploration Angola (Block 15) Limited (Esso Angola), has started production from the Kizomba C development, designed to develop 600 million barrels of oil from the Mondo, Saxi and Batuque fields in approximately 2,400 feet (800 meters
Wärtsilä signed in December a EUR 9.5 million contract with Norwegian ferry operator New Kystlink AS for an overhaul project of Kystlink’s ‘Pride of Telemark’ ferry. This contract emphasizes Wärtsilä’s strength to be the total service provider. The scope of the project includes a complete electrical
