EnscoRowan Wins Arbitration Against SHI

Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming…

Energy Storage Life Cycle Cost Study

Diesel electric propulsion is a concept that uses an electrical power generation plant to deliver power to the propulsion unit. Case studies show reductions in fuel and maintenance costs with such systems. Those improvements can be further enhanced…

FTR Trucking Conditions Index turns negative

For March, the most recent month for which data is available, the TCI came in at -1.18, which FTR said reflects a softening environment for carriers as freight rates see continued easing, coupled with a sluggish, but positive, demand outlook.

PSA, SATS Mull Multimodal Transport Hub in Singapore

Port and terminal operator PSA International and ground handler and in-flight caterer  SATS have signed a Memorandum of Understanding (MoU) to collaborate in seamlessly connecting their sea and air transport services, with the goal of improving…

Gothenburg Port Authority Appoints New CEO

Gothenburg Port Authority, Sweden has informed that Elvir Dzanic has been appointed as its new chief executive officer (CEO).Elvir is currently Vice President of Business Development at Ceva Logistics North America, based in Houston. A global company with 52…

EC Launches Blue Economy Report

European Commission launches the second edition of its Blue Economy Report during the 2019 European Maritime Day conference in Lisbon.Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella said: “Coastal regions are home to 214 million people and generate 43% of EU GDP.

Maersk in Sale, Leaseback Pact with ICBC

Danish tanker shipping company Maersk Product Tankers has just entered a sale-and-leaseback agreement for four medium range (MR) vessels with the Chinese bank, Industrial and Commercial Bank of China (ICBC).The four ships were built in 2015…

Maersk Adds APM in Logistics Division

A.P. Moller - Maersk said it will integrate APM Terminals' Inland Services division into Maersk's Logistics and Services division beginning August, providing customers with seamless access to a wider range of logistics & services offerings."This is a next step for A.P.

LR Gets Italian RO Status

The maritime classification society Lloyd’s Register (LR) has been awarded recognized organization status by the Italian flag administration and is now authorized to issue statutory certification on its behalf to all seagoing ships sailing with the Italian flag.In line with its new RO status…

DNO Completes $400mln Bond Placement

The Norwegian oil and gas operator focused on the Middle East and the North Sea, DNO ASA said it has completed the private placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.375 percent.The bond placement…