The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output supply cuts, led by Saudi Arabia, to cap freight rates for the rest of the year.The…
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Arbitration Tribunal Delivers Verdict: Hanwha Triumphs in Deepwater Drillship Dispute
An arbitration tribunal has delivered a verdict in a drillship order cancellation case involving offshore drilling contractor Northern Drilling and Daweoo Shipbuilding Marine and Engineering (now known as Hanwha Ocean), ruling in favor of Hanwha.Billio...
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HD KSOE Engineering Vice Chairman Receives Industrial Award
HD Korea Shipbuilding & Marine Engineering Vice Chairman Ga Sam-hyeon has received the Silver Tower Order of Industrial Service Merit for his contribution to national industrial development.The award was made in recognition of his achievements…
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Samsung Heavy Industries Acquires Shipbuilding Industry First ISO Certifications
Samsung Heavy Industries has acquired the International Organization for Standardization's 'Compliance Management System (ISO 37301)' and 'Anti-Corruption Management System (ISO 37001)' certification from Lloyd's Register (LRQA), claiming a…
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250,000 Seafarers Have Pay Boosted by 6%
Seafarers’ unions and maritime employers have signed a four-year agreement that will see significant wage increases and dozens of workplace protections and improvements for over 250,000 seafarers’ serving on more than 10,000 vessels.The International B...
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ICS Opens New Representative Office in Shanghai
The International Chamber of Shipping (ICS) has announced the inauguration of a new ICS Representative Office in Shanghai.This strategic move follows the admission of the China Shipowners’ Association as a full ICS member in January 2023 and…
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US Buyer Scoops Pyxis Product Tanker for $40.75 Million
Greek shipping company Pyxis Tankers announced it has agreed to sell the vessel Pyxis Epsilon, a 2015 built 50,295 dwt. product tanker, for a sale price of $40.75 million in cash to an unaffiliated buyer located in the United States.Completion…
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Pope Says Impeding Migrant Rescues at Sea is ‘Gesture of Hate’
Pope Francis said on Friday that migrants who risk drowning at sea "must be rescued" because doing so was "a duty of humanity" and that those who impede rescues commit "a gesture of hate".Francis, 86, spoke at an inter-religious prayer service before a...
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Two New Members Join SAFE Boats Board of Directors
Bremerton, Wash. based boatbuilder SAFE Boats International announced that retired Vice Admiral William “Dean” Lee and Tom Norton have joined its board of directors.Vice Admiral Lee served in the U. S. Coast Guard for more than 36-years, most recently ...
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Next-Gen Naval Defense: Laser Weapon System Takes Aim at Drones, Missiles and More
Laser Weapon Demonstrator (LWD) trials onboard the German frigate Sachsen have successfully been completed, following on from the integration of the LWD in June 2022, MBDA, a multi-national European group specializing in the field of complex…
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