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Italy Eyes Suez Canal Investments

Italy Eyes Suez Canal InvestmentsA delegation of Italian entrepreneurs visited the Suez Canal to find out more about the investment opportunities in Egypt’s USD 8-billion canal expansion project.

Busan Port Eyes 20 Million TEU Mark

Busan Port Eyes 20 Million TEU MarkThe 2014 numbers represent a 5.6% increase on 2013 and are split between 9.25 million TEUs of local cargo (up 3.6%) and 9.42 million TEUs of transshipment cargo (up 7.7%).

US Rep. Hahn: PMA Actions Call for Federal Investigation

US Rep. Hahn: PMA Actions Call for Federal InvestigationPMA curtailed nighttime, weekend and holiday shifts for the last several weeks of the negotiations, preventing dockworkers from working and causing a massive backlog of containers, according to Hahn.

The Dutch Moving Most Maritime Cargo in EU

The Dutch Moving Most Maritime Cargo in EUThe compilation covers the latest statistical data on freight handling and passenger traffic in ports in the European Union (EU), Iceland, Norway, Montenegro and Turkey.

UK P&I Club Expands Fleet

UK P&I Club Expands FleetThe Club’s combined mutual owned and chartered tonnage now stands at over 225 million gross tons, an increase of over 3% year-on-year.

Freighter Sinks in the Aegean Sea

Freighter Sinks in the Aegean SeaThe St. Vincent and the Grenadines-flagged general cargo ship Kerem S has reportedly sunk completely six days after it had grounded on the Greek island of Levitha, the Turkish daily Deniz Haber reports.

Turkey obtained 10.25% gas price discount from Russia

Turkey obtained 10.25% gas price discount from RussiaAfter seven meetings held between Turkey and Russia to negotiate natural gas pricing, Russia agreed to give Turkey a 10.25 percent discount from March onwards, Turkish Energy Minister said Friday.

Naftogaz pays Gazprom $15 mil. for March gas deliveries

Naftogaz pays Gazprom $15 mil. for March gas deliveriesGazprom announced on Tuesday that Ukraine’s prepayment for natural gas supplies is almost finished and gas supplies to the country will be halted if no new payments are made.

Turkey's Tupras agrees to pay 55 mln TL in tax fines

Turkey's Tupras agrees to pay 55 mln TL in tax finesTurkish Petroleum Refineries Corporation after legal negotiations agreed to pay 55 million TL of its tax fines.

Energy sector awaits Turkish Energy Stock Mkt.

Energy sector awaits Turkish Energy Stock Mkt.When EPIAS, the Turkish Energy Stock Market, is founded and the board of management will be decided, the energy market will develop dynamically, said Mustafa Yilmaz, the head of Turkish Energy Market Regulatory Authority, EMRA.

No price hike for nat gas in March: Turkey's energy min.

No price hike for nat gas in March: Turkey's energy min.Natural gas prices will not increase in February or March, says Turkish Energy Min.

Egypt's Sisi to visit Saudi Arabia on Sunday

Egypt's Sisi to visit Saudi Arabia on SundayEgyptian President Abdel-Fattah al-Sisi is due to arrive in Saudi Arabia.

MSC Launches Australia-North Europe Service

MSC Launches Australia-North Europe ServiceThe Australia Express service will connect to three other services, along with a direct call into Saudi Arabia, Chennai and Colombo.

Royal Caribbean’s Oasis III Cruise Ship Will Be Largest Ever Built

Royal Caribbean’s Oasis III Cruise Ship Will Be Largest Ever BuiltRoyal Caribbean International’s third Oasis-class ship is set to be the largest cruise ship ever constructed, according to some new details revealed this week about the ship.

North Korean Firm Renaming Ships to Dodge UN Sanctions

North Korean Firm Renaming Ships to Dodge UN SanctionsA North Korean shipping company, blacklisted by the United Nations, has been renaming and reflagging its vessels to avoid an arms embargo, the UN said in a report.

Philly Tankers Lines Up Charters

Philly Tankers Lines Up ChartersThe charters will commence after delivery of the vessels in 2016 and 2017.

DryShips Optimistic Despite Loss

DryShips Optimistic Despite LossNasdaq-listed DryShips reported a net loss of USD 24 million for the fourth quarter of 2014, a slight improvement compared to a USD 24.4 million loss recorded for the same period in 2013.

TSA Carriers Call for Rate Hike to Repair US West Coast Networks

TSA Carriers Call for Rate Hike to Repair US West Coast NetworksThe rise should reach levels that will address higher long-term rail, truck, equipment management and cargo handling costs, according to TSA.

WesPac Orders North America’s First LNG Bunker Barge

WesPac Orders North America’s First LNG Bunker BargeBristol Harbor Group will be responsible for the vessel’s design, with the American Bureau for Shipping (ABS) acting as the classification society.

Swedish, Finnish Ports Target EU Funding

Swedish, Finnish Ports Target EU FundingFive Swedish and Finnish ports have this week submitted applications for EU funding within the 2014 CEF Transport Calls for Proposals.

CGG to Cut Jobs and Fleet Size in 2015

CGG to Cut Jobs and Fleet Size in 2015CGG SA, the oil field seismic surveyor that rejected a takeover approach by Technip SA, reported a net loss of $1.2 billion in 2014 after a writedown for restructuring costs and cutting the size of its fleet.

Real energy prices to be set via Energy Stock Market

Real energy prices to be set via Energy Stock MarketTurkey's energy prices will be more realistic when the Turkish Energy Stock Market is founded, said head of Limak Holding.

Budget conflict between Erbil and Baghdad continues

Budget conflict between Erbil and Baghdad continuesBaghdad has not complied with agreement with Kurdish Regional Government to provide 17 percent of its budget in exchange for oil supplies due to insufficient funds.

Lithuania obtains permit to trade in Estonian gas market

Lithuania obtains permit to trade in Estonian gas marketLithuanian energy company Litgas received permission to trade in the Estonian natural gas market, the company announced on Wednesday.

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