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Petrofac wins extension for work on Iraq’s crude oil export project

Oilfield services provider Petrofac has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP). [embedded content] The company said on Thursday that the extension was won by its Engineering & Production Services (EPS) division. The facility, which is one of the largest export …

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Celestyal Cruises extiende la suspensión de sus operaciones hasta el 30 de julio

Celestyal Cruises, el principal operador de cruceros de origen griego, ha tomado la difícil decisión de extender la suspensión de sus operaciones hasta el 30 de julio debido a restricciones gubernamentales y a los cierres temporales de los puertos dentro de la región en la que opera la compañía de cruceros.El gobierno griego ha anunciado …

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China’s export volume rebounded faster than expected in April, and imports and exports with ASEAN grew against the trend in the first four months

In April 2020, the Maritime Silk Road Trade Index (STI) released by the Ningbo Shipping Exchange showed that the import and export trade index was 124.21 points, up 1.36% from the previous month and down 4.81% year-on-year; the export trade index was 138.85 points, up 8.16% from the previous month , an increase of 3.5% …

China’s export volume rebounded faster than expected in April, and imports and exports with ASEAN grew against the trend in the first four months Read More »

Pangaea Tops the List Again in Dry Bulk Benchmark Study

For the second year running Maritime Advisors, Liengaard & Roschmann have published their “Vesselindex Performance Report”, ranking the listed dry bulk companies based on their relative TCE performance. Despite today’s depressingly low market levels in dry bulk, there is reason to celebrate at Pangaea Logistics headquarters in Rhode Island in the US. For the second …

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Singapore’s PIL Seeks Temasek Investment for Survival

Pacific International Lines is in talks with an arm of Singapore sovereign-wealth fund Temasek Holdings over a potential investment aimed at keeping the debt-ridden container ship operator from shutting down. Singapore-based PIL said in a statement Tuesday that Temasek’s Heliconia Capital Management was lined up as a potential white knight in a restructuring package that …

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HHI and HMD expand of application of Eco-friendly 1 coating system

Hyundai Heavy Industries (HHI) and Hyundai Mipo Dockyard (HMD) are continuing to lead the field in the design and construction of eco-friendly vessels, and have furthered this leadership by acquiring an Approval in Principal (AiP) of the application of “solvent free 1 coating system” for water ballast tanks from both the Korean Register of Shipping …

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