World News

First Ship Lease Trust Saw Net Loss in 2012

A default and restructuring efforts with lessees hurt the company's bottom line.

23 Jan 2013

LNG Prices Set to Spike as Supply Falls

Analyst says "the supply situation is worse than we thought it would be."

22 Jan 2013

Swedish Firms Order Up to 10 Fuel-efficient Tankers

Stena Bulk and Concordia Maritime will save $3,000 to $5,000 per day thanks to efficient hull lines and propellers.

22 Jan 2013

Synthetic Fuel Manufacturer Claims Succees in Sea Trials

Quadrise is moving forward with plans for commercialisation starting in mid-2013.

18 Jan 2013

Braemar Seascope: No Shipping Recovery Until Mid-2014

Despite rising commodity exports, excess capacity and high fuel prices continue to squeeze shippers.

18 Jan 2013

IBIA Appoints Board Members

Mustafa Muhtaroglu from Energy Petrol, Istanbul replaces the immediate past chairman Bob Lintott.

17 Jan 2013

Deltamarin to Design Fuel-Efficient Tankers

The five ships will have shallow drafts and optimised hull form and propulsion arrangements.

16 Jan 2013

Hong Kong's Ships Most Significant Source of Sulfur Dioxide Pollution

The city-state's chief executive is expected to introduce new plans next week to cut marine-sector pollution.

15 Jan 2013

Maersk Line: No Need for New Capacity for 2-3 Years

The shipping giant could reduce ships on Asia-Europe routes again this quarter.

15 Jan 2013

Frontline 2012 Plans Newbuildings, Raises $310M

The company says it will use part of the proceeds to buy four Capesize newbuildings and four very large gas carriers.

14 Jan 2013

Norden Bets on Falling Rates

Analysts predict the shipping company will see a profit in 2013 after booking extra cargo.

10 Jan 2013

2013 Will Be Another Tough Year for Shipping

Moore Stephens says banks will gain more control over shipping companies as vessel values decline and costs rise.

9 Jan 2013

Cavotec Gets ABB Order for 20 Propulsion Slips

The units will be fitted to ABB's fuel-saving Azipod marine propulsion systems.

8 Jan 2013

Mumbai Bunker Sales Drop 20-30%

Sellers say competition from Fujairah has widened the price gap between the two ports, pushing Mumbai sales down.

8 Jan 2013

Ship Owners Between a Rock and a Hard Place

Owners today are caught between environmental issues and attempts to make money in a prolonged market slump.

7 Jan 2013

MOL President: Free Tonnages Leading to Losses

Koichi Muto calls for reducing capacity and lowering exposure to freight without committed contracts.

7 Jan 2013

Dual-Fuel Eco-Friendly LNG Tanker Delivered

Anthony Veder says the Coral Energy is the first ice-class vessel of its kind that can operate using LNG bunkers.

4 Jan 2013

CO2 Based Biofuel Tech Moves Forward

Researchers say fuels using electricity, microorganisms would be more efficient than algae-based fuels.

3 Jan 2013

Further Delay for Titan Financials

The company says it cannot give an accurate accounting of its position until a winding-up petition is resolved.

2 Jan 2013

Brightoil Delays VLCC Delivery

The vessel is one of five the company has ordered, all the deliveries scheduled to be complete by the middle of 2013.

2 Jan 2013