Value of the maritime and shipping sector in the UK

This report compiled by the Centre for Economics and Business Research (Cebr), provides a thorough and comprehensive examination of the role of the Maritime sector in the UK and its constituent sub-regional economies. It presents a range of analyses demonstrating different aspects of the value contributed by the overall sector, including direct contributions to GDP and employment, indirect…

LNG: the meeting point for Marine, Transport & Energy sector in Cyprus, Sept. 29th 2017, Limassol

EU co-financed Programs POSEIDON MED II and newly launched CYnergy, are joining forces to explore potential synergies between marine, transport and energy sector, arising by the use of LNG. The Conference entitled “LNG: the meeting point for Marine, Transport & Energy sector in Cyprus”, will be a platform of discussion between government and EU officials,  local authorities, international organizations and…

Controversy Rises Again over Future Prospects of Shipbuilding Industry

Controversy over future prospects of the shipbuilding industry is rising again. This has come after Hyundai Heavy Industries lost an ultra large container vessel (ULCV) deal to Chinese shipbuilders. According to shipbuilding industry sources on September 6, SK Securities, including analyst Ahn Young-jin, released a 52-page research paper under the title of the “Effects of…

Cyprus Flagged, Russian Tanker Makes One of the Fastest Arctic Crossings

(http://www.MaritimeCyprus.com) A Russian tanker just set two Arctic records. The ship not only traveled through the Arctic in record time, but has done so without the use of an icebreaker escort. On 16 August 2017, the Sovcomflot-owned icebreaking LNG carrier Christophe de Margerie, which is under Cyprus Flag,  successfully completed her first commercial voyage, transporting liquefied natural…

Total to buy Maersk Oil for $7.45 billion

(www.MaritimeCyprus.com) French oil giant Total is buying Maersk Oil, a unit of the Danish shipping giant A.P. Moller-Maersk, for $7.45 billion (6.35 billion euros). It will pay for the company with $4.95 billion in Total shares, while taking on $2.5 billion of Maersk Oil’s debt. The boards of both companies have approved the deal. Total said the…

Total Launches New Drilling Era Offshore Cyprus, Much To Turkey’s Dismay

(Join our newsfeed at: http://www.MaritimeCyprus.com) The start of drilling by French major Total in Cyprus’ offshore Block 11 on July 13 has certainly increased the political temperature in the East Mediterranean. Everyone knew it would, especially since the UN-sponsored reunification talks between the internationally recognised Republic of Cyprus and the Turkish-Cypriot administration failed a week…