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China's Unipec Ramps Up U.S. Crude Shipments
MarineLink News 17 Sep 2019 | 23:13 pmUnipec, the trading arm of Asia's top refiner Sinopec, chartered at least four crude tankers this week from the United States, ramping up purchases after attacks on Saudi Arabia's oil facilities and as trade tensions between the world's two largest[…]
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Building the Most Powerful Otto Cycle Engine in the World
MarineLink News 17 Sep 2019 | 22:52 pmWinGD has released a time-lapse video of the build of a 12X92DF engine, built by CSSC-MES Diesel Co., Ltd. (CMD) in Lingang, Shanghai.This twelve-cylinder version of the 92cm bore X-DF dual fuel engine from WinGD, is set to be the[…]
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The Poseidon Principles: De-carbonizing Global Shipping
MarineLink News 17 Sep 2019 | 20:02 pmThe Global Maritime Forum, banking institutions and other maritime industry stakeholders have developed the Poseidon Principles, a global agreement among financial institutions with the aim of decarbonizing shipping. Named after the Greek God of the sea…
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Marine Cargo Insurance Market Still Not Profitable
MarineLink News 17 Sep 2019 | 20:00 pmSean Dalton, Chair of the Cargo Committee of the International Union of Marine Insurance (IUMI) has said at the organization’s annual conference in Toronto, Canada, that there has been a 2.5 percent increase in 2018 global premiums to $16.6…
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Vigor Lays Keel for Next Gen Landing Craft
MarineLink News 17 Sep 2019 | 20:00 pmRepresentatives from the U.S. Army and federal and local elected officials joined Vigor for a keel laying ceremony, celebrating the first milestone in the construction of the Army’s next generation landing craft, the Maneuver Support Vessel…
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Russia Detains Two N.Korean Vessels After Attack
MarineLink News 17 Sep 2019 | 17:25 pmRussian border guards detained two North Korean racketeering vessels in Russian territorial waters in the Sea of Japan after one of them attacked a Russian patrol ship, the TASS news agency cited the FSB security service as saying on Tuesday."The…
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Baltic Index Falls on Weaker Rates Across Vessels
MarineLink News 17 Sep 2019 | 17:20 pmThe Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended its losses for the ninth consecutive session on Tuesday due to lower demand across vessel segments.* The Baltic index, which reflects rates for[…]
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Sovcomflot CEO to Switch to Chairman
MarineLink News 17 Sep 2019 | 17:15 pmSergei Frank will step down as president and chief executive of Russian state-controlled shipping giant Sovcomflot after 15 years at the helm, four sources familiar with the decision told Reuters on Tuesday.Frank will give up operational control…
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GPA Plans Savannah Port Capacity Expansion
MarineLink News 17 Sep 2019 | 13:03 pmThe Georgia Ports Authority (GPA) has plans for a new container port on Hutchinson Island to increase the capacity of the Port of Savannah, Georgia, USA. The planned expansion will double the port’s annual capacity from 5.5 million TEUs to[…]
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Middle East Risks Keep Oil Prices High
MarineLink News 17 Sep 2019 | 13:01 pmOil lost some of its big price rises today as the US announced the possible release of crude reserves but the possibility of military action in response to the drone attacks on Saudi oil facilities still means prices are high[…]
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