Regular reports of an impending Cosco-OOCL tie-up have been good for the share prices of both carriers and some subsidiaries.
SLNG performed its first small-scale LNG reload at its Jurong Island terminal and plans to develop itself as a regional hub.
South Korean city of Changwon has requested Korea Development Bank for consistent issuance of refund guarantees to STX O&S to secure the shipbuilder’s deal for new orders and aid in its normalisation process.
South Korean ore carrier Polaris Shipping has agreed to despatch a search vessel to the Atlantic Ocean in yet another search-and-rescue operations, believed to be the most intensive search in a 30,000 km2 radius .
The virtual vessel framework will connect different tools with varying complexity to each other thus enabling concurrent simulations of distinct ship systems and ultimately aims at the simulation of the complete ship system in one framework.
A USD1.9 million fine against Thome Ship Management and Egyptian Tanker Company was negotiated before it could test a new Trump policy against community service payments.
The new company Solstad Farstad, formed through a merger of Farstad Shipping, Solstad Offshore, and Deep Sea Supply, will start trading on the Oslo Stock Exchange tomorrow following the completion of the merger.
Lars Malm of the Swedish P&I Club says quick and clear co-ordination is vital if shipowners wish to minimise the impact of a major vessel incident.
China Steel Express has ordered four 208,000 dwt Newcastlemax newbuildings for a total of USD187 million.
Japanese integrated logistics and real estate group Inui Global Logistics plans to expand its fleet of bulk carriers amid the improving dry bulk market and global seaborne trade.