News

With an average contract duration of over 10 years, Greek containership owner, Danaos Corporation (NYSE: DAC) is largely protected from the fluctuations found

MELBOURNE–A worldwide glut of containers and a fall in demand for shipped goods during the global financial crisis have pushed shipping prices to

TOKYO–Nippon Yusen KK (9101.TO) said Tuesday that it has slashed its investment to build new liquefied natural gas carriers and floating production,

(Bloomberg) — Losses widened for oil tankers hauling 2 million-barrel crude cargoes on the industry’s benchmark route to Asia from the Persian Gulf

(Bloomberg) — China Rongsheng Heavy Industries Group Holdings Ltd. plunged to its lowest level since 2010 in Hong Kong trading after the U.S. Securities

(Bloomberg) — The number of cargoes booked on Panamax bulk carriers, the largest to transit the Panama Canal, slumped 33 percent in July amid slowing

Caspian Drilling Company, based in Azerbaijan, will install ABS Nautical Systems’ NS5 Enterprise software on four of its drilling rigs.  Three of these

Technip was awarded by Ithaca Energy (UK) Ltd an EPIC subsea contract for the Greater Stella Area (GSA) development, located 280 kilometers East-Southeast of

Knightsbridge Tankers Limited (Nasdaq:VLCCF) announced today that two of its charterers, Hong Xiang Shipping Holding Co Limited and Sanko Steamship, have

(Bloomberg) — India’s Supreme Court ruled that the ship that spilt millions of gallons of oil in waters off Alaska in 1989 can be recycled in the

(Bloomberg) — China National Offshore Oil Corp. won government approval to build another liquefied natural gas terminal in southern China’s

In their recent SEC filing, Vantage Drilling Company (NYSE: VTG) reports carrying over $2 billion in long term debt, nearly double last year’s figure

In 1892, the first steamer “Cremon” set sail for Montreal flying the Hapag flag.  Today, Hapag-Lloyd is the largest container carrier in Canada,

Twenty-two nations, more than 40 ships and submarines, more than 200 aircraft and 25,000 personnel are currently participating in the biennial Rim of the

BRASILIA–Brazil’s state-controlled oil company Petrobras (PBR, PETR4.BR) Friday launched a program to increase efficiency at its operations in

RIO DE JANEIRO–Brazilian shipbuilder and oil-field-services company OSX Brasil SA (OSXB3.BR), part of billionaire businessman Eike Batista’s

Tsakos Energy Navigation Limited (TEN) announced a new two-year time charter extension today for their 2008 built, 105,392 dwt, double hull aframax tanker,

(Bloomberg) — A cargo of liquefied natural gas due to reload at an import terminal in Spain next week has been canceled, said Enagas SA, the

Ever Lambent, the first L-type containership in the Evergreen Line fleet, was christened by Evergreen Group Chairman and founder Dr. Chang Yung-fa at the

Singapore-based shipping company, Swire Pacific Offshore, has accepted delivery of the Pacific Orca, which at 161 meters in length, is the world’s