Adis Ajdin - 05/08/2022

Quah Ley Hoon to step down at Singapore’s MPA

Quah Ley Hoon will be stepping down as chief executive of the Maritime and Port Authority of Singapore (MPA) next month after nearly four years at the helm. Quah will leave on September 5 and will be replaced by Teo Eng Dih, who is currently deputy secretary for policy at the Ministry of Defence. Te

A Adis Ajdin
Adis Ajdin - 05/08/2022

Cosco and Dalian develop tankers with carbon capture tech

Dalian Shipbuilding Industry Co (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC) and Cosco Shipping Energy Transportation (CSET), the tanker operation unit of Cosco Shipping Group, have developed two types of tankers equipped with carbon capture and storage systems. The vessels’ c

A Adis Ajdin
Adis Ajdin - 05/08/2022

Modec forms FPSO joint venture with Toyo

Japanese floater expert Modec and its compatriot Toyo Engineering Corporation have reached an agreement to establish a joint venture company for the engineering, procurement, construction and installation (EPCI) of floating production storage and offloading (FPSO) vessels. The company called Offshor

A Adis Ajdin
Adis Ajdin - 05/08/2022

New CEO for SIGTTO

Ian Revell has been appointed as the new chief executive officer and general manager of the Society of International Gas Tanker and Terminal Operators (SIGTTO). Revell will take over from Capt. Andrew Clifton on September 1. A chartered engineer for over twenty years, Revell spent more than 17 years

A Adis Ajdin
Sam Chambers - 05/08/2022

Maersk Project Logistics to launch with acquisition of Martin Bencher Group

Cash-rich A.P. Moller – Maersk has reached an agreement to acquire Martin Bencher Group, a Denmark-based project logistics company for $61m. Martin Bencher was founded in 1997 and is an asset-light logistics provider that specialises in project logistics. It is headquartered in Aarhusand has a prese

S Sam Chambers
Sam Chambers - 05/08/2022

ONE joins bid to take Seaspan parent private

Japan’s Ocean Network Express (ONE) has joined a coalition of controlling shareholders in New York-listed Atlas Corporation to make a buyout offer for the asset manager, whose assets include Seaspan, the world’s largest containership leasing company. The buyout consortium, which calls itself Poseido

S Sam Chambers
Sam Chambers - 05/08/2022

First grain convoy departs Ukraine

A first convoy is headed out of Ukrainian waters this morning bringing urgently needed grain out of the country. Three ships have departed from two ports and are now heading together along an agreed safe corridor across the Black Sea for inspection at Istanbul and onto destinations around Europe. Mo

S Sam Chambers
Sam Chambers - 05/08/2022

Tanker fundamentals see investors pile in

Of golden ages and structural bull markets, shipping analysts are falling over themselves to extend hyperboles for tanker prospects. The latest bullish report comes from Castor Group in the US, who forecasts vessel supply destruction for large crude tankers to be among the largest ever recorded in t

S Sam Chambers
Adis Ajdin - 05/08/2022

S&P Dow Jones Indices launches dry bulk index series

S&P Dow Jones Indices has launched the S&P GSCI Freight Index Series, as an expansion of its single-commodity offering of indices based on one of the most widely recognised benchmarks for investment in the commodity markets. With the aim of filling a market gap, the S&P GSCI Freight Indices provide

A Adis Ajdin
Adis Ajdin - 05/08/2022

NYK adds to LPG-fuelled VLGC orderbook

Japan’s Nippon Yusen Kaisha (NYK) has signed up for an additional 86,700 cu m liquefied petroleum gas (LPG) and liquefied ammonia gas (NH3) carrier, taking its orderbook at fellow shipbuilder Kawasaki Heavy Industries (KHI) to four. The 230 m long LPG-powered vessel will be delivered from KHI’s Saka

A Adis Ajdin