The European Commission has found Germany’s plans to strengthen the capital position of state-owned Norddeutsche Landesbank – Girozentrale (Nord/LB) to be free of any state aid.
The measures involve a direct investment of EUR 2.8 billion (USD 3.1 billion) as well as investments to carry o…
As the year winds down, forecasts are being made for 2020 and based on Fitch Ratings’ new report, there is little room for optimism.
The rating agency listed several factors for a gloomy outlook, the key ones being slowing global economic growth, trade tensions and geopolitical risks that w…
Samsung Heavy Industries (SHI), one of major shipbuilders in South Korea, has agreed to pay total penalties of more than USD 75 million to resolve the US government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of a scheme to pay millions of dollars in b…
China has officially unveiled China Shipbuilding Corporation, which was described by the country’s officials as “the world’s largest shipbuilding group”.
The inaugural meeting of the newly created company was held in Beijing on November 26, 2019, China State Shipbuilding Corporation (…
The Port of Hamburg saw strong growth in the first nine months of 2019, with seaborne cargo throughput rising by 3.2 percent to 104 million tons,
At that rate, Hamburg exceeds the growth rate of competing ports in northern Europe, which on average have reported just one percent growth, accord…
Small-scale liquefied natural gas (LNG) supplier Avenir LNG Limited has teamed up with Golar Power Limited to develop the small-scale LNG market in Brazil.
Avenir’s second 7,500 cbm LNG carrier will be used to deliver LNG to various ports across Brazil upon delivery.
The vessel will also…
Hamburg-based Fintech company Marvest has launched a digital ship investment project with the Norwegian shipowner EOS Bulk Invest.
The project will see a maximum amount of EUR 2 million (USD 2.2 million) raised for the bull carrier MV Manisa Floyen via the Marvest online platform.
This is …
South Korean shipbuilders have reached the top spot in global shipbuilding orders on the back of a strong LNG carrier segment, Yonhap News Agency cited industry data.
The country reclaimed the first place in October after local shipyard, led by Hyundai Heavy Industries, secured orders for the…
The Panama-flagged oil and chemical tanker Hoyu was hit by a fire in Singapore’s territorial waters, according to the Maritime and Port Authority of Singapore.
The incident occurred in the afternoon hours of November 7 while the 8,925 dwt unit was some 9.7 nautical miles from Pedra Branca, …
Norwegian Havyard Group and PowerCell Sweden have teamed up on the development of the design and the technical specifications for a zero-emissions fuel cell system.
The parties signed a one-year development contract for a zero emissions system fully classifiable and in conformity with IMO mar…
Norwegian expedition cruise operator Hurtigruten has started testing a new biodiesel fuel that has the potential to reduce emissions up to 95 percent.
The company noted that the fuel that is being tested on board the ship MS Polarlys was free of palm oil.
The tests started several weeks ag…
Abu Dhabi Ports’ Maqta Gateway has signed a memorandum of understanding (MoU) with telecommunications services provider Etisalat in an effort to enable connectivity and bring digital innovation across the port facilities.
As explained, the partnership will help transform the port with techn…
German shipping major Hapag-Lloyd has revealed plans to introduce an IMO 2020 Transition Charge (ITC) for short-term contracts as of December 1, 2019.
As explained, the move comes in an effort for the company to mitigate fuel price volatility and transitional operational expenses.
The intr…
A Mongolian-flagged tanker was arrested in Vietnamese waters over an alleged illegal ship-to-ship (STS) transfer of oil with a Vietnamese-flagged vessel.
The Vietnam Coast Guard (VCG) said the vessel in question was the 1993-built Oki Maru, which was seized and transferred to a coast guard co…
France’s Port of Le Havre has signed an industrial and a distribution agreement with European aerospace company Airbus for a joint software solution for port operations.
The solution will be based on the Airbus Vessel Traffic Services product family Styris and Port of Le Havre’s S-WiNG, a d…
Armed perpetrators boarded a bulk carrier that was underway in the Singapore Strait on October 19, according to the regional piracy watchdog ReCAAP ISC.
At about 0100 hours, the vessel Nord Steel was underway in the strait when the duty oiler sighted five perpetrators armed with gun and jungl…
Representatives of the main European cruise ports have begun to work on finding ways to help shape the cruise industry of the future.
On October 18, 2019, the working group’s first meeting called “Cruise 2030:Call for Action” was held in Venice.
The meeting was held on the premises…
State-owned Qatar Petroleum has started supplying very low sulphur fuel oil (VLSFO) at Ras Laffan Industrial City Port.
The VLSFO marine fuel offering has been initiated in advance of the International Maritime Organization 2020 regulation for a 0.50% global sulphur limit for marine fuels whi…
Ukraine has started accepting tender applications for a concession of the Stevedoring Company Olvia (SC Olvia), a state-owned company operating Olvia Port, a multipurpose seaport terminal in the Mykolaiv region.
According to the Ukrainian Sea Ports Authority (USPA), the tender process which a…
The US-based shipyard VT Halter Marine has launched Q-LNG 4000, America’s first offshore liquefied natural gas articulated tug and barge (LNG ATB) unit.
Named at the end of September 2019, the barge is owned by marine transportation company Q-LNG Transport.
The newbuild is designed to ca…
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