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The International Maritime Organisation (IMO) has resolved to step up protection of new cargo and passenger vessels in the case of accident. Accordingly, all new vessels built from 1 January 2009 will be governed by new technical design regulations to ensure a higher level of stability in a damaged state. In the recently revised SOLAS regulations, the pre...
GC Rieber Shipping in Norway has entered into an agreement with StatoilHydro Venture and Reservoir Innovation to establish a holding company Hexio AS which will provide technology and services for permanent monitoring (4-C/4-D) of oil and gas fields. The new company will operate through Octio Geophysical AS, and GC Rieber Shipping will transfer the 2-D/so...
Norwegian based Aker Yards' sale of 70% stakes in two German and one Ukrainian shipyards to Russian-controlled FLC West for euros248.9m (US$ has been completed. Aker says that the deal has been approved by all relevant regulatory authorities. It adds: “The transaction strengthens Aker Yards' financial capacity and liquidity, and it improves the potential ...
The Indian government has given the country's shipowners the green light to hire foreign nationals to ease an acute shortage of qualified seafarers. The industry has been seeking approval for five years. And now the Directorate-General of Shipping (DG-S) has approved 12 source countries - Bulgaria, Croatia, Estonia, Georgia, Latvia, Lithuania, Italy, ...
Samudera Shipping Line has posted a 78 percent increase in net profit to US$15.8 million, or 2.87 cents per share, for the six months ended 30 June. In the previous corresponding period in 2007 the company registered $8.9 million, or 1.64 cents per share. The group's revenue increased to $217.4 million, a 19.5 percent increase on last year's first...
Revised technical regulations in the International Convention for Safety of Life at Sea (SOLAS) will result in ships being more stable after accidents. At the beginning of 2009 all new ships will be governed by new technical design regulations to ensure a higher level of stability in a damaged state, notes the classification society Germanischer Lloyd...
Overseas Shipholding Group reported second quarter profit of $86.9 million, 10 percent more than the same 2007 period.Time charter equivalent revenue was $386.1 million, 40 percent more than the same 2007 period. Morten Arntzen, president and chief executive officer of the New York-based tanker company, said, The crude oil tanker market saw unpreced...
Korean ocean carrier Hanjin Shipping said Wednesday its first half 2008 profit was up 166 percent despite a 4 percent decline in container volume. Its business results for the first half of 2008 included total sales of KRW 4.24 trillion ($4.2 billion) and operating profit of KRW 207.2 billion ($205.7 million). Hanjin said profit reached $45 millio...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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