By Reuters 2015-07-06 08:24:11 A growing vessel glut is battering sentiment in the shipping industry at a time when players face risks to growth in Asia and turmoil in countries such as Greece, a ...
Shipping Confidence Drops Amid Vessel Glut
Asia’s first LNG-fuelled tugboat delivered
China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia's first liquefied natural gas (LNG)-fuelled tugboat, Hai Yang Shi You 525. The decision to operate on LNG follows the Chinese ...
Italian cabinet approves draft ports reform
The Italian cabinet has given preliminary approval to proposed reforms that will see the number of port authorities reduced to 13, with several ports sharing the same administration. Infrastructure ...
Marine engine makers collaborate on major R&D project
A major cross-industry initiative to develop basic technologies for use in two- and four-stroke marine engines has been officially launched Led by Wärtsilä, MAN Diesel & Turbo, and Winterthur Gas ...
IMO backs fair treatment training
The IMO's Technical Co-operation Committee (TCC) has approved the development of training material that aims to better implement seafarer fair treatment guidelines. The decision comes in response to a ...
Anti-piracy ship crew face trial in India on arms charges
The 35 crew of anti-piracy ship Seaman Guard Ohio are to face trial in India on charges of illegally carrying weapons and straying into Indian waters, after being held for 21 months. The Supreme Court ...
Samsung HI denies exit from wind energy sector
South Korean shipbuilder Samsung Heavy Industries (SHI) has refuted media reports that it plans to sell its wind energy businesses in Europe. Rumours that South Korea's second biggest shipbuilder ...
Japan, Myanmar, Thailand to co-operate on Dawei port development
Japan, Myanmar, and Thailand have signed an agreement for a mutual development of the Dawei Special Economic Zone in Myanmar. The agreement was signed in Tokyo on 4 July, on the sidelines of the 7th ...
Pacific Radiance’s earnings to dip in 2Q15
Singapore-based offshore oilfield service provider Pacific Radiance could suffer what would possibly be its worst-ever quarterly earnings for the second quarter of 2015, opined UOB Kay Hian Securities ...
Newbuilding orders decline in May
Newbuilding orders continue to decline in April 2015 as freight rates for bulkers and LNG carriers remain sluggish. Statistics compiled by Greek broker Golden Destiny showed that 113 ships were ...