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A.P. Moller-Maersk completed the sale of its roll-on, roll-off freight shipping company Norfolkline to Danish shipping line DFDS on July 12. At the same time, Copenhagen-based Maersk acquired 31.3 percent of DFDS. ...
BP has succeeded in installing a new cap on the riser of the leaking Deepwater Horizon well. The three ram capping stack was installed on the Deep Water Horizon LMRP at 7 p.m. CDT. The stack completes the installation of the new sealing cap. ...
STX Norway Offshore AS and partner PJMR Empreendimentos Ltda have won contracts to build eight LPG carriers for Transpetro, the transportation subsidiary of Petrobras, at the new shipyard they are building shipyard in Fortaleza in Brazil's Ceara state. ...
ASBESTOS has been detected on a number of recent newbuildings, despite a worldwide ban on its use on vessels constructed since 2002, according to a number of maritime industry sources. Both Turkish and Chinese shipyards allegedly continue to employ the mineral....
Vessel running costs are falling and could be as much as 5% lower than they were at the height of the economic crash in 2008, according to Jens Martin Jensen, CEO of the management arm of leading independent tanker owner Frontline....
Maersk Line confirmed that it is postponing by two weeks the implementation of the increase in the peak season surcharge on Asia-Europe cargo that it announced on June 15. ...
A South Korean court has given Hyundai Heavy Industries, the world's largest shipyard, approval to buy Hyundai Oilbank from International Petroleum Investment,...
Saudi Arabian Zamil Offshore Services Company will invest SAR40 billion (US$10.7 billion) over the next 10 years into shipbuilding. The company has achieved SAR2 billion (US$533 million) in shipbuilding returns during the past two years, according to Arab Steel....
Paradip port authorities on Saturday ruled out dismantling Mongolian ship MV Black Rose, which had sank near the coast last September....