Shipping Archives — Page 14 of 15

May 2, 2019 No Responses

Samsung Builds 1st LNG-Fueled Ships With Own Technology

South Korea’s Samsung Heavy Industries (SHI) informed it has successfully constructed its first LNG-fueled vessels with the shipbuilder’s own technology. The LNG-powered 113,000 dwt oil tanker pair delivered to an Asian shipowner early this year just completed the first bunkering...

April 23, 2019 No Responses

Samsung Secures Order For $970m FPSO Unit

South Korean shipbuilder, Samsung Heavy Industries (SHI) has received an order for the construction of a floating production, storage and offloading (FPSO) unit. The contract worth KRW 1.1 trillion (around USD 970 million) has been signed with an unnamed Asi...

April 7, 2019 No Responses

Shipping Firm Develops New Port Supply Chain

Hong Kong-based port operator COSCO Shipping Ports signed an investment agreement with Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau. Under the deal, the company plans to develop phase I of terminal extended business in the land n...

March 31, 2019 No Responses

Shipping Firm Secures $407m Financing

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has decided to raise JPY 45 billion (USD 406.6 million) through a new subordinate loan. As informed, the loan proceeds will be used for the repayment of interest-bearing debts and capital expenditures...

March 22, 2019 No Responses

NIMASA, Stakeholders Move To End Cabotage Waivers

As part of efforts to actualise the full implementation of the Cabotage Act, 2003, which aims to promote indigenous participation in shipping in Nigeria, the Nigerian Maritime Administration and Safety Agency (NIMASA) and key industry players have mapped out a...

March 19, 2019 No Responses

Shipping Firm Invests $55m In Scrubbers

Swedish tanker shipping company Stena Bulk has made a USD 55 million investment in scrubbers that will encompass sixteen of the company’s vessels. As World Maritime News already reported, ten of the company’s IMOIIMAX vessels and five Suezmaxes will be...

December 30, 2018 No Responses

Tanker Corporation To Relist Shares On Exchange In January

Chinese transportation company Nanjing Tanker Corporation, part of Sinotrans & CSC, will relist on Shanghai Stock Exchange on January 8, 2019. The opening price of its stock will be CNY 4.31 (USD 0.63) per share, the company said in its...

March 23, 2018 No Responses

Initiative For Climate-Smart Shipping Debuts

Electromobility for Shipping is the name of a new collaboration between six actors with the aim to increase the electrification of shipping. Swedish ferry company Stena AB, the Swedish Shipowners’ Association, ABB Sweden AB, ABB Marine Oy, research institut...

March 13, 2018 No Responses

Daewoo Shipbuilding Posts $629.7 million Income In 2017

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has managed to improve its financial performance for the first time since 2011. The company recorded a net income of KRW 669.9 billion (USD 629.7 million) in 2017, compared to a...

December 21, 2017 No Responses

BIMCO: Dry Bulk Demand to Outstrip Supply in 2018

Next year promises to provide some breathing space for bulker owners as the dry bulk fleet is likely to grow at the slowest pace seen since 1999, according to BIMCO, which expects global demand to outstrip supply growth in 2018....

December 15, 2017 No Responses

Maersk Line Pulls out of Transpacific Stabilization Agreement

Danish container carrier, Maersk Line is withdrawing from the Transpacific Stabilization Agreement (TSA) this month as part of its commitments to regulatory authorities made in the context of the acquisition of Hamburg Süd. “In light of the commitments prov...

November 21, 2017 No Responses

Shipping firms allege blockage of channel by NLNG, petitions NPA

By citybusinessnews@yahoo.com – Shipping firms have appealed to the Managing Director of Nigerian Port Authority (NPA), Hadiza Bala Usman to intervene in the alleged blocking of channel by the Nigeria Liquefied Natural Gas (NLNG). In a petiti...

August 31, 2017 No Responses

NPA elevates Nasiru, Eze, Fawole, others to AGMs

The Management of Nigeria Ports Authority (NPA) has approved the elevation of some of its managers to the rank of Assistant General Manager (AGM), in line with its commitment towards operational efficiency. Amongst those list are Ibrahim Nasiru of the...

August 30, 2017 No Responses

COSCO Shipping records $26.3m profit in six months

COSCO Shipping International (Hong Kong) Limited witnessed a rise in its earnings during the first half of 2017, driven by long-awaited signs of recovery in the shipping industry. For the six months ended 30th June 2017, the group’s profit...