June 14th, 20180Canada’s Seafarers’ Training Institute (STI) has launched a hiring initiative to plug a looming labour gap in the offing as seasoned mariners retire in the next five years.
STI’s initiative is targeting youngsters fresh out of high school in a bid to compensate for the expected 20% decline in the country’s maritime workforce...
June 5th, 20180NovaAlgoma Cement Carriers (NACC), a 50/50 joint venture company between Algoma Central Corporation and Nova Marine, has acquired a 25% ownership interest in JT Cement, a company jointly started by Swedish companies KGJ Cement Holdings and Erik Thun.
JT Cement currently owns a fleet of seven smaller specialized pneumatic cement...
June 1st, 20183Gerry Wang and Graham Porter stand accused of failing to snap up containership bargains while at the helm of Seaspan, the world’s largest independent lessor of boxships. The charge comes from the company’s chairman, David Sokol, who took over Seaspan 10 months ago.
“If I have a criticism of the prior Seaspan team, it was had...
May 30th, 20180Canada’s federal government has announced it will buy the Trans Mountain oil pipeline from Houston-based energy infrastructure firm Kinder Morgan for $3.4bn.
Energy advocates hope the move will help break a logjam in progress of the project, which has been stymied by authorities in British Columbia.
The pipeline is intended to...
May 18th, 20180Teekay Tankers revealed in its latest set of results that it has agreed a sale and leaseback deal for seven of its tankers.
The company is selling three suezmaxes, two aframaxes and two LR2 product tankers, taking them back on 10- to 12-year bareboat charters at an average rate of around $7,200 per day. Teekay has options to purchase...
May 17th, 20180The regulatory body for the offshore oil and gas industry in Newfoundland and Labrador has started a formal probe of an incident last month when synthetic based mud (SBM) spilled from the mobile offshore drilling unit .
After the initial incident on April 27, when 28,000 litres of SBM drilling fluid were discharged into the Atlantic...
May 9th, 20180Cyprus-based bulk shipping operator SMT Shipping and Canadian owner CSL Group have entered into an agreement for CSL to acquire a 50% interest of Eureka Shipping, SMT's pneumatic cement vessel business.
The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to...
April 26th, 20180Dry bulk operator Norvic Shipping is ramping up its organisation in line with the increasing fortunes finally seen in the sector.
Mudit Paliwal joined the company in November last year as president and COO, based in Copenhagen. Paliwal is a protégé of Harry Banga, the famous Hong Kong-based commodities tycoon. Paliwal’s career...
March 28th, 20180British Columbia authorities are proposing new incentives seen as encouraging progress with a proposed liquefied natural gas (LNG) export terminal near Kitimat in northern BC.
The LNG Canada project has been in limbo since consortium leader Shell postponed a final investment decision (FID) in 2016 so it could look for cost reductions...
March 26th, 20180Canada’s Coastal Shipping, a small Canadian tanker owner, has bought its first ships for many years. Broker sources tell Splash Coastal has added two 20,000 dwt coated product carriers, ICDAS-09 and sister vessel ICDAS-11, from Turkish owner Icdas Celik Enerji Tersan.
Coastal Shipping is reportedly paying $14.5m each for...
