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Houston-based offshore contractor McDermott has been awarded a decommissioning definition engineering contract by QatarEnergy for the country’s inaugural offshore decommissioning initiative. Under the contract scope, McDermott will develop a comprehensive technical and commercial framework and conduct detailed techno-economic studies to ensure the safe and systematic retirement and removal of 27 ageing offshore platforms. This encompasses …
https://splash247.com/mcdermott-lands-qatars-first-offshore-decommissioning-contract/
https://splash247.com/mcdermott-lands-qatars-first-offshore-decommissioning-contract/Wolfgang Lehmacher gives his thoughts on the mother of all FTAs, arguing it could usher in a quantum leap for shipping leaders. The new India-EU trade deal, called the ‘Mother of all FTAs’, is cutting tariffs, but more critically, it might change how shipping companies operate worldwide. The agreement brings in strict rules on environmental …
https://splash247.com/how-the-india-eu-pact-will-remake-maritime-trade/
https://splash247.com/how-the-india-eu-pact-will-remake-maritime-trade/Supertanker owner DHT Holdings is pushing further with its fleet renewal, agreeing to sell its oldest vessel for $51.5m. The New York-listed company said the 2007-built 301,000 dwt DHT Bauhinia is expected to be handed over to its new owner in June or July 2026. The ship is debt free and DHT expects to book …
https://splash247.com/dht-cashes-in-on-oldest-vlcc/
https://splash247.com/dht-cashes-in-on-oldest-vlcc/After grabbing headlines last Monday by locking in one-year time charters for seven VLCCs at $76,900 per day — levels not seen for decades — more fireworks have followed from John Fredriksen-controlled Frontline’s busy chartering desk. Frontline has fixed out two modern VLCCs in the spot market. The 2018-built Front Princess has been fixed on …
https://splash247.com/frontline-secures-bumper-rates-for-two-modern-vlccs/
https://splash247.com/frontline-secures-bumper-rates-for-two-modern-vlccs/Rapidly-expanding Greek owner Venergy Maritime is pressing ahead with its fleet growth plans, firming up more MR product tanker orders in South Korea as it steadily builds scale in the sector. The Vyron Vasileiadis-led owner, founded in 2021, has mostly kept its focus on the product tankers segment. Venergy currently operates three modern MRs and …
https://splash247.com/venergy-firms-up-mr-tanker-push/
https://splash247.com/venergy-firms-up-mr-tanker-push/Malaysia’s top shipping line MISC has moved to grow its LNG fleet, signing up for up to six new liquefied natural gas carriers at China’s Hudong-Zhonghua Shipbuilding. The deal covers three firm 174,000 cu m vessels plus options for three more, with all units set to be chartered out to national oil company Petronas on …
https://splash247.com/misc-adds-lng-firepower-with-china-newbuilds-deal/
https://splash247.com/misc-adds-lng-firepower-with-china-newbuilds-deal/Two tankers were briefly detained off Penang last week after Malaysian authorities intercepted what they say was an illegal ship‑to‑ship (STS) transfer of crude in waters long notorious as a hotspot for shadow fleet activity. The Malaysian Maritime Enforcement Agency (MMEA) said a patrol vessel found two tankers about 24 nautical miles west of Muka …
https://splash247.com/malaysia-briefly-detains-two-tankers-off-penang/
https://splash247.com/malaysia-briefly-detains-two-tankers-off-penang/Following last week’s decision by Panama’s Supreme Court to annul concession contracts held by a CK Hutchison unit for the Balboa and Cristobal terminals, Maersk-controlled APM Terminals has stepped into the breach. The Danish port operator has signalled its willingness to assume temporary operation of Balboa and Cristobal to safeguard trade flows – but only …
India has moved from talking about ships and ports to attacking the metal boxes that keep trade flowing. Finance minister Nirmala Sitharaman’s budget pledge contains a ₹10,000 crore ($1.2bn), five‑year scheme to build a domestic container manufacturing ecosystem. India’s current annual container output is roughly 30,000 units; China’s capacity runs to in excess of 5m. …
https://splash247.com/india-sets-aside-1-2bn-to-ramp-container-production/
https://splash247.com/india-sets-aside-1-2bn-to-ramp-container-production/Chinese intra-Asia container player SITC International Holdings is pressing ahead with its fleet renewal and growth plans, returning to Huanghai Shipbuilding for two additional 2,700 teu newbuildings. The Hong Kong-listed carrier will pay close to $76.5m for the pair, according to a stock exchange filing. Delivery is scheduled from January through to March 2029. The …
https://splash247.com/sitc-extends-2700-teu-orderbook/
https://splash247.com/sitc-extends-2700-teu-orderbook/