Category Archives: Chartering

SCI to postpone chunk of scheduled vessel orders to 12th plan

Posted on November 17, 2011 by Editor

State-owned Shipping Corporation of India (SCI) will not order more than 6-7 vessels during the terminal year of the 11th plan period due to lean market conditions, leaving a chunk of its orders for 2012-17 period. “We have ordered 26 … Continue reading →

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Oil headed for the longest run of weekly gains since April 2009

Posted on November 15, 2011 by Editor

By Grant Smith Oil headed for the longest run of weekly gains since April 2009, on speculation that signs of U.S. economic growth and Europe’s steps to contain its debt crisis will support fuel demand. Crude climbed as much as … Continue reading →

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Oil Riches Pile on China Doorstep as Clashes Delay Drilling

Posted on November 15, 2011 by Editor

Nov. 11 (Bloomberg) — To China, the world’s biggest energy consumer, another Saudi Arabia of oil may lie beneath the ocean to its south. Escalating regional tensions mean large-scale drilling may be slipping further into the future. The South China … Continue reading →

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Box carriers’ on-time arrival rates improve to 63pc, up from Q2

Posted on November 14, 2011 by Editor

DENMARK’s Maersk Line has been named the world’s most on-time carrier among the top carriers as 63 per cent of the world’s containerships were found to have arrived on time in the third quarter, according to Drewry Maritime Research’s latest … Continue reading →

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Work commences on building world’s largest lock on the Scheldt near Antwerp

Posted on November 14, 2011 by Editor

THE port of Antwerp has started construction of the largest lock in the world at the head of the Deurganck dock on the left bank of the River Scheldt as it leaves the Netherlands and enters Antwerp in Belgium. THE … Continue reading →

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ArcelorMittal set to exceed Liberia 2011 iron ore

Posted on November 13, 2011 by Editor

ArcelorMittal, the world’s top steel maker, is on track to produce between 1.2 million and 1.3 million tonnes of iron ore from its Liberia mine in 2011, exceeding a 1-million-tonne target, and does not expect a decline in prices to … Continue reading →

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India: Global Offshore to buy 3 more ships; to invest Rs 750 cr

Posted on November 13, 2011 by Editor

The Mumbai-based Global Offshore Services plans to acquire three new vessels to take advantage of the expected buoyancy in demand for offshore oilfield services. Order for one of them, costing around $50 million, is expected to be placed in the … Continue reading →

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India: Aban Offshore Secures Three Year Contract for Jack-Up Rig

Posted on November 13, 2011 by Editor

India’s biggest offshore drilling contractor in the private sector, Aban Offshore has won a three year contract worth USD 57 million from ONGC for deployment of jack-up rig Aban II , reported The Economic Times. In a regulatory filing, Aban … Continue reading →

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Pakistan: Port Qasim Terminals Enhances Night Navigation Systems to Handle Large Ships

Posted on November 13, 2011 by Editor

Global marine terminal operator DP World announced that its facility at Qasim International Container Terminal (QICT), Pakistan’s gateway to the world, has expanded its capability to allow it to handle today’s modern, large vessels around the clock. New buoys, beacons … Continue reading →

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Maersk Group quarterly profits drop 79pc even as revenues rise 9pc

Posted on November 13, 2011 by Editor

DENMARK’s increasingly diversified Moller-Maersk Group, which owns the world’s largest container shipping company, has posted a 78 per cent drop in third quarter in profit year on year to US$371 million while enjoying a nine per cent increase in revenue … Continue reading →

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