China State Shipbuilding Corporation (CSSC) has commenced construction of CMA CGM’s 22,000 TEU boxships, which would make them the largest container vessels in the world, reported China's official media.The two are among nine 22,000 TEU vessels deal signed by French container shipping operator CMA CGM and China State Shipbuilding Corporation (CSSC) in September last year.
The United States accused North Korea on Thursday of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea, according to a document seen by Reuters, and demanded an immediate end to all sales of the fuel.The United States submitted the complaint to the U.N. Security Council North Korea sanctions committee.
When it was time for France Pelagique to start renewing its fleet, an electric-power alliance of Dutch and Scandinavian yard interests formed up and delivered. The result was the first installation aboard a trawler of NES’s Odin’s Eye, a DC grid solution to integrate another first for trawlers — quiet-running permanent magnate, or PM, propulsion.
Shares of small Japanese shippers jumped this week after the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country.Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang
U.S. based power transmission technology and equipment manufacturer Twin Disc, Inc. announced it has entered into a definitive agreement to acquire the Netherlands based marine propulsion products supplier Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries.Twin Disc said the purchase price is approximately $58.
The shipping industry will this year scrap the largest number of oil tankers in over half-a-decade, driven by weak earnings, firm prices for scrap steel and the need to prepare fleets for strict new environmental regulations.The surge in scrapping underscores how the sector is grappling with one of its worst-ever crises
Crowley Alaska Tankers, LLC, has completed its acquisition of three tankers from SeaRiver Maritime Inc. and is now chartering the vessels back to SeaRiver under varying multi-year terms.The tankers Liberty Bay and Eagle Bay, now under Crowley ownership and operation and renamed Washington and California respectively, each have a capacity of 760
The United Nations Security Council blacklisted dozens of ships and shipping companies on Friday over oil and coal smuggling by North Korea, boosting pressure on Pyongyang as leader Kim Jong Un plans to meet with his South Korean and U.S. counterparts. The council's North Korea sanctions committee acted on a request by the United States
The United States proposed a list of entities on Friday to be blacklisted under United Nations sanctions on North Korea, a move it says is "aimed at shutting down North Korea's illicit maritime smuggling activities to obtain oil and sell coal." "We are ramping up the pressure on the North Korean regime, and we're going to use every tool at our disposal
The United States has proposed that the United Nations Security Council blacklist 10 ships for transporting banned items from North Korea, according to documents seen by Reuters on Tuesday. The vessels are accused of "conducting illegal ship-to-ship transfers of refined petroleum products to North Korean vessels or illegally transporting North Korean coal to other countries for exports
While large shipping asset deals are often financed through the major capital markets, loans for most oilfield service marine equipment are funded with asset based lending. For such asset based lending, a domestic U.S. bank, with some exceptions, will be asking for an appraisal that is compliant with the Uniform Standards of Professional Appraisal Practice (USPAP).
The Chamber of Shipping of America (CSA) this week announced the 2017 Environmewntal Achievement Award Winners. At a dinner ceremony in the Ronald Reagan Building in Washington, DC on November 8, 2017, CSA awarded Certificates of Environmental Achievement to 1,810 ships owned by seventy-two companies with a total of 15,307 years of environmental excellence.