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GasLog Reveals LNG Carrier Order at SHI

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August 20, 2018 Owner and operator of LNG carriers GasLog is behind the latest order at South Korean shipbuilder Samsung Heavy Industries (SHI) for two newbuilds. As World Maritime News reported earlier this morning, SHI has been hired to construct two 174,000 cubic meter LNG carriers  with low pressure two stroke propulsion, with expected delivery in late […]

Samsung Heavy Industries Bags Two More LNG Carriers

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August 20, 2018 The insatiable appetite for liquefied natural gas (LNG) carriers is keeping South Korean shipbuilder Samsung Heavy Industries (SHI) hard at work at a tough time for shipbuilders. SHI said in a regulatory filing that it has won an order for two LNG carriers from an undisclosed North American shipowner. The contract is […]

Maersk Inks Compliant Fuel Deal with Vopak

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August 20, 2018 The upcoming 2020 sulphur cap has emerged as a great business opportunity for fast movers, and industry giant A.P. Moller – Maersk knows how to turn an industry challenge into profit. Namely, the company has teamed up with Royal Vopak, an independent tank storage operator, on a project aimed at launching 0.5 […]

Hapag-Lloyd increases reefer fleet by 11,100 containers

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August 17, 2018 The line is strengthening position as one of the largest reefer container carriers with new equipment and a new on-line booking system. Hapag-Lloyd has ordered 11,100 reefer containers. The new containers will be integrated to the company’s existing fleet of 91,000 reefer containers, with delivery gradually starting this month and completed by […]

Maersk to Spin Off Drilling Unit as It Focuses on Transport

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August 17, 2018 Danish transport and logistics group A.P. Moller – Maersk has decided to list Maersk Drilling as a standalone company on Nasdaq Copenhagen in 2019 in an effort to focus on transport and logistics. Having evaluated the different options for Maersk Drilling, the group opted for the move as it presents “the most optimal and […]

Team Tankers Bounces Back to Profit in Q2

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August 17, 2018 After posting financial losses, Bermuda-based chemical tanker company Team Tankers International managed to return to profitability in the second quarter of 2018.  The company posted a net income of USD 4.4 million in Q2 2018, compared to a net loss of USD 7.3 million in Q1 2018 and a net loss of […]

Maersk’s Revenue Grows in a Challenged Market

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August 17, 2018 In the second quarter of 2018, Danish transport and logistics major A.P. Moller – Maersk showed progress in the strategic business transformation, reporting revenue growth at the same time as realising synergies through further business integration. Revenue grew 24% to USD 9.5 billion across segments in the second quarter of the year, […]

TORM’s Newbuildings to Feature Scrubbers

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August 16, 2018 Danish shipping company TORM is turning to scrubbers in an effort to prepare for the upcoming 2020 sulfur cap. Namely, the company said that it has “decided to install scrubbers on 14 of our vessels to prepare for the expected consequences of the IMO sulfur emission directive.” The vessels in question include all units currently […]

Diana Shipping Secures Work for Panamax Bulker

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August 16, 2018 Athens-based dry bulk owner Diana Shipping has entered into a time charter contract with CJ International Italy Societa Per Azioni for one of its Panamax dry bulk vessels. Under the deal, Diana’s 74,381 dwt Panamax bulker Coronis would be hired for a period of twelve to fifteen months. The gross charter rate […]

Concordia Maritime: Weak Tanker Market Will See an Upturn

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August 15, 2018 As the tanker market remained week during the second quarter of 2018, Swedish tanker owner Concordia Maritime widened its net loss. The shipping company suffered a net loss of SEK 57 million (USD 6.2 million) in Q2 2018, compared to a net loss of SEK 43.9 million posted in the corresponding period […]