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17 missing after cargo ship collides with fishing vessel

SHANGHAI, May 7 (Reuters) – Seventeen people were missing after a Chinese fishing boat collided with a Maltese cargo ship and sank in the East China Sea on Saturday, state media reported, citing the country’s coastguard fleet. The fish...

09/05/2016 Read

Maersk Group’s quarterly profit down by 86 pct

Danish shipping and offshore energy conglomerate Maersk Group reported its profit at USD 224 million for the first quarter of 2016, a drop of 86 percent compared to USD 1.6 billion seen in the same period a year earlier. Maersk’s underl...

05/05/2016 Read

Wood Group scoops 3-year deal from Shell in North Sea, retains 500 jobs

Wood Group has been awarded a three-year contract extending its support of Shell’s eight UKCS offshore asset thus retaining more than 500 jobs.  Wood Group PSN (WGPSN) will continue to deliver maintenance and construction services to th...

05/05/2016 Read

Drewry: No recovery for LNG shipping rates until 2018

Liquefied natural gas (LNG) ship-owners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the LNG Forecaster report from global shipping consultancy Drewry. The...

05/05/2016 Read

One state holds key to America’s $10 billion offshore wind boom

Lawmakers in Massachusetts are drafting a bill that would jump-start the offshore wind industry in the U.S., helping trigger a $10 billion building spree off the Atlantic coast. The energy bill may be introduced as early as this month and is expec...

04/05/2016 Read

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