Eagle Ocean Marine (EOM), the American Clubs fixed premium P I and FD D facility, recently completed another year of steady growth and solid profitability. It has also renewed its reinsurance program for another twelve months from July 1 on

The Hong Kong Federation of Insurers yesterday (1 August) offered a revised estimate of the cost of the damage inflicted by the super typhoon Mangkhut that ripped through the territory on 16 September 2016. Based on the statistics of 54 ins

The judges for the International Maritime Rescue Federation Awards 2019 have announced their shortlist, following careful consideration of the range of extremely compelling entries from around the world. Designed to honour the outstanding c

Following the seizure of the oil tanker Stena Impero on 19 July, the International Chamber of Shipping (ICS), the European Community Shipowners Associations (ECSA) and the Asian Shipowners Association (ASA) jointly urge immediate action by

1.Chinas largest maritime conglomerate, state-backed Cosco, has leapt from fifth spot to bronze in the newly termed premier league of global terminal operators. The Chinese giant now stands just 0.6m teu away from overtaking Hutchison Ports

China has announced opening up the upstream exploration of its oil and natural gas resources by scrapping joint-venture restrictions, as a vital step in easing market access for foreign investors, sources reported. Effective July 30, the mo

Hong Kong-based minor bulk specialist Pacific Basin saw first half net profit fall to US$8.2m, an underlying loss of US$0.6m, from a 2018 1H figure of US$30.8m as a crowd of adverse conditions battered the trade. The company said the tradit

Hong Kongs Orient Overseas Container Line (OOCL), now a unit of Cosco, has cancelled a number of Asia-Europe sailings owing to low market demand. The affected services are as follows: the Asia-Adriatic Sea (AAS) that plies the Asia to west

The Baltic Exchanges main sea freight index fell for an eighth straight session on Thursday, as increased vessel supply and easing demand for shipping iron ore dragged down capesize rates, while soft South American orders hurt panamaxes. Th

Mega shipyard mergers in South Korea and China are forging a new reality in the industrial sector that underpins the global shipping industry. South Koreas merger of Hyundai Heavy Industries Co. and Daewoo Shipbuilding Marine Engineering Co

Global container port demand will expand by almost 200 million teu in the next five years, according to a new report by Drewry. However, the shipping consultancy also notes that although absolute growth will be substantial, growth rates thr

Background The first incident involved a night-time production operator on a fixed facility who was found to be missing from the platform during morning rounds. The personnel onboard noticed a section of grating displaced in the upright pos

Hong Kong-based Orient Overseas Container Line issued a note to its customers on 31 July informing them that it will strengthen the companys Dangerous Cargo acceptance and container inspection policy. Henceforth OOCL will impose additional

China National Petroleum Corp has pledged to come up with more than 100 million metric tons of equivalent equity production of oil and gas from abroad by 2020, especially in markets in Central Asia, Russia, the Middle East and Africa. The o

There have been recent reports of a fatality at a shipbreaking yard in Bangladesh. A worker sadly lost his life having accidentally fallen while scrapping a container ship. Evergreen wishes to express sympathy for this loss of life and for