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Asia-N.Europe Box Rates Hit 6-Year Low

file photo

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 23 percent to $342 per 20-foot container (TEU) in the week ended on Friday, a source with access to Shanghai Containerized Freight Index data told Reuters.

Israeli Dockworkers End Ports Strike

Workers at the Port of Ashdod (Photo: Ashdodport Company Ltd.)

Israeli dockworkers ended a two-day strike on Thursday that had shut down the country's two main seaports in protest at the creation of new foreign-run ports.   Some 2,400 workers had walked out of

Five Years on from Macondo

Courtesy: Sunam Suwim

An interview with NOIA’s Randall Luthi provides unique perspective on where the offshore energy business has been, where it is now, and where it could be headed next.  It is a predictable but at the same time,

Shipbuilding

Kvaerner, Korean Yards Want Statoil Contracts

Norway's Kvaerner is a favourite to win a key Statoil platform deck contract, while three Korean yards were vying for two other platform deals on the giant Johan Sverdrup field

SENER holds a FORAN seminar in Wuhan, China

FORAN seminar in Wuhan

The ‘FORAN new modules, new functions and FEM-Link (Hypermesh) Seminar’ was held on April 23rd

NordLB Back to Profit

Image by NordLB

Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB

Contracts

Russian Energy Minister: No Global Output Cuts

Russian Energy Minister Alexander Novak said on Friday that cuts in global oil production should not be expected and that demand was likely to grow, Interfax news agency reported.

Songa Offshore Beats Street in Q1

Norwegian rig company Songa Offshore posted forecast-beating operating profit in the first quarter, but warned of continued fierce competition for few tenders in the market.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering firm Ship Finance

Technology

Furuno Debuts Updated Echo Sounder

FE800 (Image: Furuno)

Furuno has introduced a new IMO Echo Sounder, FE800, offering an 8.4-inch Color LCD display with

Subsea Data Logger and Controller Commissioned

Submarine Mineral Genesis Monitoring System with WFS Seatooth S100 and other telemetry equipment at flow test (Image: WFS)

WFS, NuStar and Precision Technologies complete commissioning of new subsea system for JAMSTEC:

Entries Sought for SHIPPINGInsight Award

Entries are now being accepted for the 2015 SHIPPINGInsight Award, which will be presented at the SHIPPINGInsight Fleet Optimization Conference & Exhibition, Oct.

Legal

Total: No Reason to Sell Hutchinson

Total's chief executive said on Friday the French oil major saw no reason currently to sell its Hutchinson rubber unit and that the group will explain in due time what its plans

Thailand: 300 "boat people" Landed in Recent Weeks

Around 300 "boat people" have landed on Thailand's shores in recent weeks, Sek Wannamethee, director-general of the information department at Thailand's Foreign Ministry

U.S.: China Placed Artillery on Reclaimed Island

The United States said on Friday that China had placed mobile artillery weapons systems on a reclaimed island in the disputed South China Sea, a development that Republican Sen.

People & Company News

Rosneft Pays off $600 mln Loans

Russia's biggest oil producer Rosneft said on Friday it had fully repaid two syndicated loans that had been taken out by TNK-BP in 2011-2012. Rosneft, which bought TNK-BP in 2013

Asia's Fuel Oil Market Set for Record June Volume

Asia's fuel oil market is set to see a record volume of physical trades in June based on open interest in derivatives for the oil product, with backers of opposing bets expected

Oil Up 1 pct After U.S. Inventory Drop

Crude oil prices rose more than 1 percent on Friday after U.S. inventories fell for a fourth straight week, although prices were set for a weekly drop on a stronger dollar.