Global sea level rise has been accelerating recently, rather than increasing steadily, according to a new study based on 25 years of NASA and European satellite data. This acceleration is mainly caused by increased melting in Greenland and Antarctica, which may double the total sea level rise by 2100.

Despite global oil and gas deal volume hit a five-year low in 2017, EY Global oil and gas transaction review 2017 said that the 2018 outlook for mergers and acquisitions remains optimistic, with upstream deal value increasing 30% year-on-year. This year is expected to see a continued focus on transactions in the downstream, as companies look to balance portfolios across the value chain and seek growth opportunities.

Piraeus Port Authority released its Annual Financial Report 2017 according to which PPA's turnover amounted to € 111.5 million compared to € 103.5 million in 2016, showing an increase of 7.7%. The profits showed an increase of 92% and the net result is improved by 68.6% to € 11.3 million compared to € 6.7 million of the year 2016.

After an investigation conducted in the drill ship 'Sagar Bhushan', which suffered an explosion at Cochin shipyard, it showed that it was probably caused by leakage of acetylene gas. This is the initial investigation which indicated the probable cause, and further investigation will take place in order to definitively determine the cause of the explosion.

Bourbon Corporation with its new plan wants to digitalize its existing fleet, in order to improve their operations. Namely, the "Smart shipping" program will connect the fleet of 132 supply vessels of Bourbon Marine & Logistics. Overall, Bourbon Marine & Logistics’ has 65 vessels, of which 41 non-smart vessels, which cannot be connected, will be sold at current market price. 

Chemical shipping freight rates will be more weak during 2018, because of depressed outlook on overtonnaged long haul routes. The enter of new builds into service will weaken freight rates in 2018. It will also affect CPP, which will continue to be important for supply changes in the chemicals/vegoils sector.

As the Suez Canal Authority informed, a 105,542 DWT tanker suffered a steering failure as it was transiting of the Canal on the afternoon, local time of 13 February. Suez Canal tugs took immediate action to refloat the vessel. No damages were reported, and both convoys, South- & North-bound, are operating.

The IMO Sub-Committee on Ship Design and Construction, chaired by Mr. Kevin Hunter, held its fifth session from 22 to 26 January 2018. Important items discussed such as amendments to SOLAS Regulation with respect to safe mooring for all ships as well as safety standards for the carriage of more than 12 industrial personnel on board vessels engaged on international voyages.

The Bahamas Maritime Authority Guidance and Instructions for Bahamian ships, regarding the incident reporting and investigations, whose purpose is to provide lessons learned for the future, as an unreported incident potentially decreases the possibility of improving safety.

The Isle of Man ship registry, issued a notice, whose purpose is to advise shipowners, operators, managers and Masters of Isle of Man registered ships of information in respect of Port State Control activities. The Ship Registry wishes informed that there were two particular inspection incidents where the deficiencies which were revealed