Iran urged Greece on Tuesday to cooperate to resolve a crisis over the seizure of ships without involving the United States, after Iranian forces seized two Greek tankers in the Gulf following the seizure of an Iranian vessel off Greece.Tehran seized the Greek ships on Friday after Athens impounded the Iranian-flagged Pegas in April.
Ukrainian forces destroyed a pontoon bridge and parts of Russian armored column as it tried to cross a river in the Donbas region, video footage released by Ukraine's military showed on Friday, and a Russian naval ship was set afire in the Black Sea.Russia has suffered setbacks on the battlefield as Ukraine drives its troops out of the region around the second-largest city of Kharkiv
Guangzhou Shipyard International (GSI) has started sea trials of the Stena Pro Patria, the first methanol-powered dual-fuel tanker constructed in China in what has been described as a 'watershed moment' in the development of methanol as an alternative fuel for medium-range tankers.
Tanker shipping company Hafnia on Thursday announced it has completed its acquisition of 32 product/chemical tankers from Chemical Tankers and 12 LR1 tankers from Scorpio Tankers.Singapore-headquartered Hafnia, created through a merger between Hafnia Tankers and BW Tankers in 2019, now has an owned fleet of 152 vessels and commercially managed fleet of 242 vessels.
Niels G. Stolt-Nielsen has decided to step down from his role as Chief Executive Officer of chemical tanker operator Stolt-Nielsen Limited.The company said Wednesday he'd continue as CEO and as a Director on the Board until the appointment process for a successor has been completed. Niels G.
The Nippon Foundation signed a Memorandum of Understanding (MoU) with the offshore technology development consortium DeepStar to establish a joint research and development program focused on decarbonization in offshore oil and gas, with a focus on renewable energy and the environment.
The first in a series of three new 49,900 dwt methanol dual-fuel MR tankers has been launched for a joint venture between Proman and Stena Bulk.Stena Pro Patria’s launching took place at Guangzhou Shipyard International (GSI), which is the first Chinese shipyard to build a Methanol Dual-Fuel vessel.
Supply chain issues tied to liner shipping have been front page news throughout 2021; just about everyone agrees that there’s a problem. The underlying cause is right out of Economics 101: a surge in demand for moving containerized cargo, in the face of “inelastic” throughput capacity (which includes vessels and their landside interfaces to surface transportation
New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement.
International Seaways, one of the world's oil largest tanker operators, petroleum products, has completed the previously announced merger with Diamond S Shipping Inc. The combined company will continue to operate as International Seaways and trade on the New York Stock Exchange under the symbol INSW.
Seattle-headquartered Saltchuk Holdings informed the U.S. Securities and Exchange Commission (SEC) that it has proposed to buy the Overseas Shipholding Group (OSG) shares it doesn't already own for $3 each, lifting shares of the Tampa, Fla.-based marine transportation company on Friday.As of June 29, Saltchuk beneficially owned 15.2 million (17.
Dr. Anil Sharma, CEO and founder of GMS, is a dominate player in the world’s ship recycling business. MR TV caught up with him in late June 2021 for insights on the pace and direction of ship recycling activity and pricing.Dr. Sharma, to start, can you give us an overview of the ship recycling market as you see it today?Thank you, Greg. Let's start with prices because that's the news of the hour.