News

The outlook for the 2017 financial year is based on the Hapag-Lloyd Group’s existing business activities as at 31 December 2016 and therefore does not include UASC’s business activities or the acquisition of UASC in 2016. A statement from the…

UMW Offshore Drilling has received two contracts from Petronas Carigali worth US$34.81mil to provide services to its firm and optional wells. UMW Offshore Drilling is a wholly-owned subsidiary of UMW Malaysian Ventures (UMV), which in turn is…

Government of India-controlled Cochin Shipyard Ltd is constructing four passenger-cum – cargo vessels for Andaman & Nicobar Administration under the ‘Make in India’ initiative of Government of India. As per orders placed by the A&N Administration…

The USS Abraham Lincoln (CVN 72) was redelivered to the fleet May 12, marking the successful completion of its refueling and complex overhaul (RCOH) carried out at Newport News Shipyard. At sea for the first time since March 2014, the crew conducted rigorous tests of engineering components…

Orient Overseas Container Line (OOCL) announced the naming of its latest containership, the OOCL Hong Kong, at a christening ceremony held at the Samsung Heavy Industries (SHI) shipyard on Geoje Island on May 12. The OOCL Hong Kong was also…

Mitsubishi Nichiyu Forklift announced the integration of business operation with its consolidated subsidiary UniCarriers Corporation through a company split where Mitsubishi Nichiyu succeeds the businesses of UniCarriers except domestic sales, with eff...

Greece-based Tsakos Energy Navigation (TEN) said that its 15-vessel newbuilding program is nearing completion with the final three aframax tankers expected to be delivered in the coming months. In the second half of the year, with all vessels…

Skuld has announces a total combined ratio of 98%, as well as a positive bottom line result of USD 51 million (USD 18 million in 2015 before members' credit) for its 2016 financial year ending 20 February 2017. Gross earned premium in 2016 amounted to ...

Ships from the Republic of Singapore navy, Royal Thai navy and U.S. Navy completed a three-day multilateral Cooperation Afloat Readiness and Training (CARAT) exercise in the South China Sea May 12. The three-day exercise included a broad spectrum…

The beginning of 2017 found both the drybulk and containership markets recovering from the historical low levels observed during 2016, says Euroseas Chairman. Aristides Pittas, Chairman and CEO of Euroseas said that the drybulk market improved…