Tanker charter rates have plunged more than 80% as the coronavirus outbreak slams the brakes on major economies, costing the sector hundreds of millions of dollars in lost business, a senior shipping industry official said.While some of the revenue is ...
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Livestock Carrier Queen Hind Refloated
Operations to raise a livestock carrier that capsized in the Black sea off Romania in November came to a close on Tuesday night, said local marine services firm Gruup Servici Petoliere (GSP).The Palau-registered Queen Hind flipped onto its side…
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Keppel Breaks FPSO Conversion Record
Singapore's offshore facilities builder Keppel has said it has delivered "the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project."Named FPSO Abigail-Joseph, the vessel was delivered to...
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Mitsubishi Wins Fin Stabilizer Order
Mitsubishi Heavy Industries Marine Machinery & Equipment (MHI-MME) has won a rare order to supply two retractable fin stabilizers for two 148-passenger Luxury Expedition Vessel being built by Helsinki Shipyard of Finland.Both fin stabilizers…
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WFO Launches Floating Offshore Wind Committee
Global industry advocacy group World Forum Offshore Wind (WFO) has created a new working group - the Floating Offshore Wind Committee (FOWC) - to promote the acceleration of commercial-scale floating offshore wind.FOWC will tackle areas from…
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Fussey Engineering Backs Hornsea 2
Siemens Energy has selected UK-based Fussey Engineering to supply and install steel framework and cladding at the National Grid 400kV substation site adjacent to the Hornsea Two offshore wind project.The steelworks, which will involve the construction…
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Høglund to Supply FGSS for Tallink
Norwegean global marine automation and system integration expert Høglund Marine Solutions (HMS) will supply Fuel Gas Supply Systems (FGSS) to Rauma Marine Constructions (RMC) for Tallink Grupp’s newest LNG powered ferry, MySTAR.Høglund will…
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FSL Trust Sells Crude Tanker FSL Shanghai
FSL Trust Management Pte., the trustee-manager of First Ship Lease Trust, has announced the sale of the crude oil tanker FSL Shanghai.FSL Trust Management has executed a Memorandum of Agreement (MoA) to sell the crude oil tanker to an unaffiliated…
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JPMorgan raises clean energy spending goals, profit targets unchanged
JPMorgan Chase & Co largely maintained its key profit goals for the medium term on Tuesday, signaling steady but slower growth, and raised its financial commitment for clean-energy initiatives after years of pressure from environmental activists.
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Iran Invests $857Mn in Maritime Industry
Iran's Ports and Maritime Organization (PMO) has allocated 36 trillion rials (about $857.2 million) allocated 36 trillion rials ($857.2 million) to develop the country's maritime industry, including the construction of 83 vessels.Mohammad Rastad…
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