German shipowner Briese Schiffahrts confirmed the execution of an alternative order for adding two 1800 TEU container ships at Huanghai Shipbuilding. The two new ships were ordered on July 16 and are scheduled to be delivered in 2023. In ad

The net profit exceeded 1.6 billion yuan and the average monthly profit was nearly 300 million yuan. The newly signed 112 ships were US$6.67 billion (approximately 43.2 billion yuan). In the first half of this year, Yangzijiang Shipbuilding

Chinas crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance, though independent refineries slowed restocking amid probes by Beijing into trading and taxes. China

The China Ningbo Containerized Freight Index (NCFI), a wind vane of Chinas busiest ports freight rates for the international container shipping market, stood at 3,557.8 points in July, up 10 percent compared with the previous month. The NCF

Inflationary Pressure Concerns over growing inflationary pressure across the global economy have been gaining ground. This was reinforced in the recent July edition of the IMFsWorld Economic Outlook Update, which notes that whilst the recov

The Institute of Marine Engineering, Science and Technology (IMarEST) has renewed its Marine Partnership with Malaysia-based international offshore energy facilities and services business, Bumi Armada Berhad (BAB). Marine Partner status is

On the afternoon of August 3, CNOOC Energy Technology Services Limited and Marine Design Research Institute of China officially signed the detailed design contract of LF12-3 FPSO hull. LF12-3 FPSO is the 15th FPSO designed by MARIC for CNOO

VARD, one of the major global designers and shipbuilders of specialized vessels, and the Norwegian shipping company Rem Offshore, are delighted to announce the contracts of two Construction Service Operations Vessels (CSOVs) with an option

A new ABSGuide for Autonomous and Remote-Control Functionssets out a goal-based framework for the implementation of these technologies on vessels and offshore units. and introduces two new notations. The Guide introduces the ABS Remote-Cont

On the afternoon of August 5, Fujian Mawei Shipbuilding signed an order for 6 1100TEU container ships with Taiwan T.S. Lines in the form of cloud contract. 1100TEU container ship is the latest third-generation China-Japan container ship lau

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains. The acceleration in Delta-va

Chinas Shandong provincial government has asked independent refineries operating in its region to sign commitments to fully abide by the crude import quota rules, in an effort to ensure compliance and clamp down on industry misconduct of th

Nakilat, aglobal leader in energy transportation, Classification Society DNV, and a group of leading yards and system suppliers have teamed up on a joint development project (JDP) to elevate software reliability and maintenance during opera

July saw the container shipping industry enter uncharted water, as long-term contracted rates surged by their largest ever monthly increase, climbing by close to one third. According to the latest Long-Term XSI Public Indices from Xeneta wh

The Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI) have awarded funding to three consortiums led by Keppel FELS Limited, SeaTech Solutions and Sembcorp Marine, and comprising a total of 30 enterpri