• DMCA and DMCC sign MoU to promote Dubai as...

    DMCC has signed a Memorandum of Understanding (‘MoU’) with the Dubai Maritime City Authority to help promote Dubai to the maritime sector as a global destination for companies wanting to set up and expand into the GCC and MENA region.

  • Hyundai Heavy Industries to build five oil...

    National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, has signed a deal to buy five very large crude tankers from ship builders Hyundai Heavy Industries, the Riyadh-listed firm said on Sunday.

  • Asia Tankers-VLCC rates face choppy waters in...

    Rates for very large crude carriers (VLCCs) on key Asian routes from the Middle East, which jumped to the highest in more than five months this week, face some uncertainty next week but will maintain their underlying strength, brokers said.

  • The EU is failing to take advantage of its port...

    Among the 22 coastal members of the European Union you can count more than 1200 seaports, with many of them connected and integrated into our coastal towns and cities. As such, the shipping sector plays a significant role in the EU’s economy.

  • Saudi Arabia & partners turn down Chinese...

    Saudi Arabia and its main Middle East OPEC partners are turning down Chinese requests for extra oil as they hold back fuel for their own refineries just as demand from the world’s biggest crude importer hits new records.

  • Bureau Veritas partners with the IMarEST

    Bureau Veritas, a global leader in Testing, Inspection and Certification, are the latest company to partner with the Institute of Marine Engineering, Science and Technology (IMarEST).

  • DMCA concludes its participation in 2nd Middle...

    Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai's maritime sector, participated as a platinum sponsor in the 2nd Middle East Offshore Journal Conference 2015. 


Philly Shipyard Secures USD 150m Loan for Four Tankers

Philly Shipyard, the sole operating subsidiary of Philly Shipyard ASA, has signed a commitment letter with Caterpillar Financial Services Corporation (Cat Financial) for a USD 150 million loan facility to finance the construction of four next generation 50,000 dwt product tankers.


Research: Small U.S. Navy Ships to Get Drones

Small-deck ships such as destroyers and frigates could greatly increase their effectiveness if they had their own unmanned air systems (UASs) to provide intelligence, surveillance and reconnaissance (ISR) and other capabilities at long range around the clock.


China Fines Seven Companies for Price Fixing

China has fined seven shipping companies, including Japan's Kawasaki Kisen Kaisha (K Line), a total of 407 million yuan ($62.85 million) for price-fixing, the country's state economic planner said in a statement on Monday.