Ship

Daewoo Shipbuilding & Marine Engineering Co Ltd announced on Friday it has won an order to build four Very Large Crude Carriers (VLCC) from Greek company Maran Tankers Management.

Daewoo has undertaken to complete the construction of the carriers by August 20, 2019.

[Reuters]

The European Bank for Reconstruction and Development (EBRD) has said it is boosting the Turkish shipping industry with a $19.5 million loan to a local ship maintenance yard, Tersan Tersanecilik Sanayi ve Ticaret A.Ş in a statement. 

Even in today’s world of drone strikes and cyberwarfare, our ability to control the seas remains a key to global security, Fletcher School Dean James Stavridis argues in his new book, Sea Power: The History and Geopolitics of the World’s Oceans. A retired U.S.

Seven missing sailors from the USS Fitzgerald were found dead in flooded berthing compartments following the warship’s collision with a merchant vessel, a US military official said.

The challenges for Greek coastal shipping are growing, as besides the recession in the domestic passenger market and the rise in fuel prices, the new environmental regulations to apply from 2020 require new ship orders.

One man was injured after a US-flagged sailboat collided with an unidentified vessel south of Patra port in western Greece on Sunday morning.

After the crash at sea, the sailboat, which had three passengers on board, managed to sail safely to Patra.

The injured person was taken to the city's university hospital and was discharged after receiving first aid.

The removal of 62 vessels from the Greek ship register within the space of a year highlights the Greek flag's declining competitiveness. Along with the losses observed in 2015, the Greek register appears to have shrunk by 100 oceangoing ships in just two years.

The European Union is "aware and acting on" a report that Russian tankers had carried jet fuel to Syria through the bloc's waters despite it being banned, a source said on Wednesday.

Greece remains the global leader in shipping, as the latest annual report by the United Nations Conference on Trade and Development (UNCTAD) shows that the share of the global merchant fleet owned by Greeks in terms of capacity has risen from 16.1 percent in 2015 to 16.36 percent this year.

The ratification of the International Maritime Organization Ballast Water Management Convention is an opportunity for more business in Greece's ship repair zone, according to the sector's entrepreneurs. The development emerged last week as Finland signed on to the treaty, thereby raising the share of the global fleet to have accepted it to 35 percent, which means it can now be activated.