Teekay Receives Fifth Of Six Arc7 Ice-Breaking LNG Newbuilds

Referring to the press conference that was issued on the 30th of September, 2019,it was announced by Teekay Corporation (Teekay) and Teekay LNG Partners L.P. (Teekay LNG) that restructuring of ownership on arms lenghths terms has been completed by COSCO Shipping Energy Transportation Co. Ltd. This has thus resulted to Teekay LNG’s joint venture partner,…

The company widened its loss in the fourth quarter to USD 48 million, compared to a loss of USD 31 million reported in the third quarter of the year and a net income of USD 104.3 million reported in the fourth quarter of 2017. Odfjell said that the results reflect a weak chemical tanker market…

The UK Hydrographic Office (UKHO) has deployed a motorboat to survey the waters off Dominica as part of the Commonwealth Marine Economies (CME) Programme. Following a stakeholder meeting with Dominica’s Maritime Authority and wider government in late 2017 after Hurricane Maria, priority survey areas were agreed to capture seabed mapping data of Dominica’s main ports…

Irving Oil Offers Low-Sulphur Fuels On Both Sides Of The Atlantic Irving Oil is all set to offer low-Sulphur fuels on both sides of the Atlantic as the marine industry is getting ready for the implementation of the IMO’s new low Sulphur standards that is to begin in 2020. Sulphur will be limited to 0.5…

Teekay Tankers Ltd. (Teekay Tankers or the Company) announced that it has completed and closed the previously-announced sale-leaseback transaction for six Aframax tankers, the Whistler Spirit, Blackcomb Spirit, Emerald Spirit, Garibaldi Spirit, Tarbet Spirit and Peak Spirit. As a result, the Company has increased its liquidity position by approximately $60 million after the repayment of…

The technology group Wärtsilä partners with the Maritime and Port Authority of Singapore (MPA) to promote maritime innovation and R&D. The partnership covers four different streams: digital acceleration, cyber-physical security, intelligent vessel and port operations. Wärtsilä and MPA have also agreed to support and leverage start-ups and small and medium enterprises in Singapore in these…