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Latest news

New venture launches subsea lifting system

Following the sale of Ecosse Subsea to Oceaneering earlier this year, subsea entrepreneur Mike Wilson has launched Ecosse IP Ltd. (EIP), with start-up investment of £2 million ($2.6 million).

Tankers: Northwest European clean MR freight rallies in as gasoline prices drop

Clean Medium Range tanker freight rates have rallied this week as gasoline traders scramble to ship gasoline out of Northwest Europe, where a significant build in stocks has pressured gasoline prices.

Chelsea Logistics Buys Two Vessels

Philippine-based Chelsea Logistics Holdings (CLC), wholly owned subsidiary of Udenna Corporation, added two new ships to the company’s existing fleet of 83 as part of its expansion program.

Equinor Doubles Reserves At Norne Field With Cape Vulture Discovery

Equinor has confirmed a new play and doubled the remaining oil reserves to be produced at the Norne Field with Cape Vulture, one of the operator’s latest discoveries on the Norwegian Continental Shelf.

New Thruster Solutions Developed for Arctic Shipping

A team of European marine research institutes and companies have developed creative technologies for thruster solutions that are specifically engineered for ships operating in the Arctic.

Carnegie issued Oz wave ultimatum

Wave developer Carnegie Clean Energy has been given nine weeks to provide a detailed funding plan to the Western Australia state government to continue with its Albany project.

SINN Power rides Guinea wave

German wave developer SINN Power has agreed to take on a feasibility study on the potential of wave energy and other renewable technologies on behalf of an unnamed customer in Guinea.

Stolt-Nielsen, Golar and Höegh target small-scale LNG and bunkering

Stolt-Nielsen, Golar LNG and Höegh LNG are investing $182m in Avenir LNG to develop small-scale LNG distribution and LNG bunkering.

Singapore plans to tighten controls in maritime fuel industry

Singapore plans to apply stricter control measures to the marine fuels sector, a move that industry sources say could boost transparency in a notoriously opaque industry.

How newbuildings, scrappings formed world fleet in 2017

In its 2018 edition of Maritime Transport Review, UNCTAD informed that in 2017, total newbuilding delivery amounted to 65 million gross tons, equivalent to 5.2% of the start-of-year fleet in 2017.

EIB approves €195 million funding for Italian port projects

The European Investment Bank (EIB) approved a €195 million (USD224.7 million) financing to the Centre-North Tyrrhenian Sea Port Authority for the expansion of the port of Civitavecchia, in the Italian capital.

Finnish LNG icebreaker tests oil recovery capabilities

State-owned Finnish polar services company Arctia has tested the oil-recovery capabilities of its LNG-powered icebreaker Polaris at sea for the first time.

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