MISC is pleased to announce its financial results for the second quarter ended 30 June 2021. Financial Highlights: • Group revenue and operating profit for the quarter ended 30 June 2021 were higher than the corresponding quarter ended 30 June 2020. • Group revenue for the 6 months period ended 30 June 2021 was higher …
Container shipping rates from China and Southeast Asia to the east coast of North America have surpassed $20,000 per twenty-foot equivalent unit, or TEU, CCTV reported.. It was the first time for the number to surpass $20,000, up from $16,000 per TEU on Aug 2, according to the report, citing the global container freight index. …
China-US container shipping rates hit new record high Read More »
Watson Farley & Williams (“WFW”) has advised Ocean Residences Development Ltd (“ORD”) on the signing of the shipbuilding contract for the development of a state-of-the-art luxury residential vessel M/Y Njord. The building of the vessel will be undertaken by Germany’s Meyer Werft. The M/Y Njord, which has a target delivery date in 2025, is a …
At Concordia Maritime AB’s Extraordinary General Meeting on 12 August 2021, it was resolved in accordance with the proposal of the Board of Directors to approve the agreement with Stena Bulk AB on time charter of all of the Company’s ten P-MAX product tankers (the “Time Charter”) and the guarantee contract whereby Stena Sessan AB …
Concordia Maritime Approves Chartering Agreement With Stena Bulk Read More »
Malaysia’s national oil company Petronas has issued a front-end engineering and design tender for a third floating liquefied natural gas or FLNG plant, for which bids are due in August from interested parties, according to sources with direct knowledge of the matter. The FEED study is expected to kick off before the end of 2021 …
Malaysia’s Petronas eyes third floating LNG vessel amid upstream uncertainties Read More »
Norwegian cleantech company TECO 2030 ASA saw its revenues increase to NOK 10.8 million in the first half of 2021, up from zero in the same period last year, mainly due to the sale of ten ballast water treatment systems. TECO 2030’s consolidated earnings before interests, taxes, depreciations and amortisations (EBITDA) were negative in the …
Hanwha, the South Korean Fortune 500 global technology and manufacturing company has announced a USD $300m equity investment by Hanwha Systems (“Hanwha”) in OneWeb, the Low Earth Orbit (LEO) satellite communications company. Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb, alongside relationships to new government customers and expanded geographical reach. This …
We have an update to the grounding of Crimson Polaris that occurred off the coast of Hachinohe on August 11. The vessel, which had been chartered by NYK from MI-DAS Line SA (an affiliate of Doun Kisen Co., Ltd.), the owner of the ship, ran aground off Hachinohe on August 11. On August 12 at …
Grounding of Wood-Chip Carrier Crimson Polaris off Hachinohe Read More »
The offshore energy sector has this week witnessed the unwavering nature of energy transition which is bound to continue – hopefully at an accelerated pace – as the nature itself steps up its cries for protection by employing the ‘shock and awe’ tactics which set many areas of the world ablaze due to overwhelming heat …
In focus: Energy transition steadily gaining pace across the globe Read More »
Dutch tidal energy company Tocardo has delivered its T1 tidal turbines to QED Naval as part of the TIGER project to validate the performance of the Subhub community demonstrator platform. T1 tidal turbines to be featured on Subhub device (Courtesy of QED Naval) QED Naval visited Tocardo’s offices and turbine assembly hall in Wieringerwerf in …
Tocardo delivers T1 tidal turbines for Subhub platform Read More »
