Australia's Port of Townsville is set to receive a AUD55 million (USD403 million) berth upgrade, opening the way for 4,500 teu Panamax vessels to access to the port. The upgrade to berth 4 would add ...
Townsville set for $403m upgrade as Australian trade shifts north
Nanjing Tanker returns to black with profit of $43.4m in 1H15
Nanjing Tanker returned to the black with a profit of CNY269.2 million (USD43.4 million) in the first six months of 2015 owing to a reduction in finance cost, lower bunker fuel cost, and pick-up in ...
South Korean lawmaker: KDB must be responsible for DSME’s situation
A member of South Korea's Parliament has called on state-owned policy bank Korea Development Bank (KDB) to take responsibility for Daewoo Shipbuilding & Marine Engineering's (DSME's) ...
Osaka’s cargo traffic tumbles in April
Cargo traffic at Osaka, western Japan plunged 12.8% in April from a year earlier to 6.711 million tonnes as both domestic trade and foreign trade sank at double-digit rates. According to preliminary ...
US standardises marine casualty reporting
US regulators have issued guidance to help simplify marine casualty reporting compliance for shipowners and operators. In its Navigation and Vessel Inspection Circular 01-15, the US Coast Guard noted ...
SBM Offshore completes biggest ever FPSO financing
Netherlands-based SBM Offshore has completed the USD1.55 billion financing of the FPSO Cidade de Saquarema - the largest project financing ever organised by the group. The new financing package, which ...
Toll group sets up logistics hub at Singapore mega-port
Australian logistics provider Toll Group is to build a hub in Singapore to capitalise on the new mega-port coming to the western part of the city-state. On 27 July, Toll, now part of Japan Post, said ...
No crew deaths on UK vessels for first time in 50 years
Last year saw the first time no seafarers died aboard UK flagged vessels over 100 gt, the Marine Accident Investigation Branch reported. Before 2014, UK vessels averaged four deaths per year for the ...
Scorpio Bulkers takes big financial hit
NYSE-listed Scorpio Bulkers has booked a major write-down on divested newbuild contracts and remaining orders held for sale. The Emanuele Lauro-led company posted a net loss of USD138.6 million for ...
Profit sharing boosts Navios Midstream
Angeliki Frangou-led VLCC owner Navios Midstream Partners has reported strong profits in its latest quarter and cited increased chartering activity in the market. NYSE-listed Navios Midstream posted ...