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Palmali Holding - Press Release

An arrest warrant has been issued on Azerbaijani - Turkish businessman Mubariz Mansimov Gurbanoglu, detained in Istanbul, Turkey. The founder and owner of the Palmali Group finds himself accused of having links to the FETÖ network (Fetullah Gülen…

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Container Lines May Lose 17 Mn TEU in 2020 due to Coronavirus

It can no longer be ruled out that the container shipping industry might be looking at developments similar to the financial crisis of 2008, SeaIntelligence said, referring to the impact of the coronavirus pandemic.

“This implies a potential v…

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SSRZ "Midel" installs a ballast water management system on the Armada Navigator tanker.

Specialists at the Midel shipbuilding and ship-repairing plant are installing the ballast water management system on the Armada Navigator chemical product carrier tanker. Such a system is being installed for the first time in Russia, the company …

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Coronavirus Impact Shrinks Volumes at Top Two Busiest Ports in US

The Port of Los Angeles, the U.S. busiest port, has seen a 22.9 percent decrease in handled containers for the month of February compared with the same month in 2019 amid the coronavirus impact.

The coronavirus outbreak has caused a major disr…

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NAT: Decreasing Oil Prices Good News for Tankers

A massive oil price war has erupted between Saudi Arabia and OPEC countries after Russia refused to join the proposed production cuts announced last week.

Under the proposal, OPEC wanted its members to slash production by 1 million barrels per…

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Coronavirus Outbreak Affects Saga’s Cruise, Tour Businesses

British cruise and travel company Saga said that is cruise and tour businesses have experienced an increase in near-term cancellations due to the evolving coronavirus outbreak. 

“Our Tour Operations businesses have experienced an increase in …

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OPEC Resorts to Production Cuts to Curb Coronavirus Impact on Oil Demand

Responding to the ongoing oil demand situation, OPEC members proposed today to cut oil production by 1.5 million barrels per day until June 30, 2020.

Under the proposal, OPEC proposed its members slash production by 1 million barrels per day, …

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Sea Intelligence: COVID-19 Impact Pushes Carriers’ Revenue Loss to USD 1.9 Bln

The impact of the COVID-19 virus outbreak on container shipping continues to grow, albeit at a slower pace.

Copenhagen-based Sea Intelligence said in its weekly analytical report that a global volume loss due to COVID-19 impact has reached 1.9…

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Hyundai Mipo Inks Deal to Build Chemical Tanker

Hyundai Mipo Dockyard (HMD), part of South Korean shipbuilding group Hyundai Heavy Industries’ (HHI), has received an order for the construction of a chemical carrier. 

The contract, worth KRW 45.3 billion (USD 38 million), has been signed …

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Trafigura, Phillips 66 Create JV to Develop Deepwater Port in Texas

Phillips 66 and Trafigura Group have formed a 50/50 joint venture, Bluewater Texas Terminal, to develop an offshore deepwater port project located approximately 21 nautical miles east of the entrance to the Port of Corpus Christi.

As informed,…

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China Overtakes Germany as Biggest Containership Nation

China has overtaken Germany as the biggest nation in the container shipping sector in terms of total TEU.

“The fact that China would overtake us in this respect was quite foreseeable: for one thing, the simple reason is that very much larger c…

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MOL Secures Green Loan for Its Bunkering Vessel

Japanese shipping giant Mitsui O.S.K. Lines has signed its first green loan, which it plans to use to partially finance the construction of an LNG bunkering vessel, believed to be the world’s largest.

The loan is provided by BNP Paribas (BNP…

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US Gives More Time to Companies to Wind Down Dealings with Cosco Dalian

The U.S. Treasury Department has extended the deadline to companies that deal with COSCO Shipping Tanker (Dalian) to wind down their transactions with the company and its units, pushing the target time to February 4, 2020.

Under the previous r…

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EU Okays Maritime Transport Support Schemes in 5 Countries

The European Commission has approved five schemes to support maritime transport in Cyprus, Denmark, Estonia, Poland and Sweden.

As explained, the schemes encourage ship registration in Europe and contribute to the global competitiveness of the…

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WWF-Canada: Open-Loop Scrubbers Should Be Banned in Canadian Waters

World Wildlife Fund (WWF) Canada, an international conservation organization, has supported a ban on the use of open-loop exhaust gas cleaning systems (EGCSs) and discharge from hybrid scrubbers in Canadian waters.

“Canada has a responsibility…

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Abu Dhabi Ports Splashing USD 1 Bn on Khalifa’s Expansion

Khalifa Port, the flagship port of  Abu Dhabi Ports, is set for further expansion with a planned investment of AED 4 billion (USD 1.08 billion) aimed at boosting the company’s handling capacity.

The investment will see AED 2.2 billion assig…

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What Will Be the Role of Biofuels in Shipping’s Decarbonization?

Biofuels are not likely to become the prevailing zero-carbon solution of choice in the shipping industry’s decarbonization process in the long-term due to many challenges, according to an inquiry commissioned by the Sustainable Shipping Initiativ…

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World’s 1st Liquefied Hydrogen Carrier Named in Japan

Japanese shipbuilder Kawasaki Heavy Industries has named Suiso Frontier, the world’s first liquefied hydrogen carrier, at its yard Kobe Works, the company said.

This vessel is owned by CO2-free Hydrogen Energy Supply-chain Technology Researc…

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EU Gives Green Light to Nord/LB’s Recapitalization

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 (…

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Fitch: Global Shipping Outlook Is Negative

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 gr…

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Samsung Heavy Industries to Pay USD 75 Mn in Penalties Over Bribery Case

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) arisi…

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China: World’s Largest Shipbuilder Established

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 Novembe…

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Port of Hamburg Reports Strong Growth So Far in 2019

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 ave…

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Avenir LNG Taking Its 2nd 7,500 cbm LNG Carrier to Brazil

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 acro…

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German Fintech Launches New Digital Ship Investment Project

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 F…

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South Korea Reclaims Shipbuilding Throne in October

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 b…

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Fire Hits Tanker off Singapore, 18 Crew Evacuated

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 un…

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Havyard, PowerCell to Develop Zero-Emissions Fuel Cell System

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…

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Hurtigruten Starts Biodiesel Tests

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 …

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Abu Dhabi Ports’ Maqta Gateway, Etisalat Partner Up on Port Digitalization

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 p…

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IMO 2020: Hapag-Lloyd Implements New Charge to Cope with Additional Costs

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 …

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Vietnam Arrests Mongolian-Flagged Tanker over Illegal STS Transfer

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, wh…

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Airbus, Port of Le Havre Join Forces to Offer Port Operations Solution

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 produc…

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Third Vessel Boarded off Singapore Over the Last Month

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 …

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European Ports Move Forward to Develop Sustainable Cruise Industry

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 …

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Qatar Petroleum Brings VLSFO to Ras Laffan Port

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…

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Ukraine Starts Accepting Bids for Olvia Port Concession

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 …

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America’s First LNG Articulated Tug and Barge Unit Launched

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 …

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Hyundai Heavy Obtains Second USCG BWMS Type Approval

The U.S. Coast Guard Marine Safety Center has issued a ballast water management system type approval certificate to South Korea’s Hyundai Heavy Industries.

The approval is for the company’s EcoBallast BWMS which consists of filtration with U…

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Poland Getting New Shipping Channel

Poland’s Maritime Office in Gdynia has signed an EUR 187 million (USD 205.4 million) contract for the development of a shipping channel through the Vistula Spit which separates the Vistula Lagoon from the Gdańsk Bay.

The joint venture Besix…

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Europe’s Largest Port Now Ready for Larger Ships

The project to deepen the Nieuwe Waterweg waterway and the Botlek area at the Port of Rotterdam has been officially completed, allowing Europe’s largest port to accommodate ever-larger ocean-going vessels.

One of the busiest waterways in the…

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Avenir LNG’s First 7,500 cbm LNG Carrier to Work for Petronas

The UK-based small-scale LNG supplier Avenir LNG Limited has partnered up with Malaysia’s shipping group MISC Berhad to provide its first 7,500 cbm LNG carrier to a subsidiary of Petronas in an effort to advance LNG bunkering in Malaysia.

As…

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Unique Cloud-Based Database Now Supports Parts Procurement Contracts

A cloud-based database containing the details of millions of machinery parts has eliminated inventory inconsistencies for technical managers - now it is also being used to support procurement contracts.

The MESPAS global master database is a u…

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Seized Stena Impero Leaves Iran, Owner Confirms

The detained tanker Stena Impero has finally been released and is sailing to Dubai, according to the ship’s owner Stena Bulk.

“Stena Bulk and Northern Marine Management confirm the Stena Impero and its crew have been released,” Erik Hane…

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MOL, Novatek, JBIC Sign Russian LNG Complex Deal

Japan’s Mitsui O.S.K. Lines has signed a cooperation agreement with Russian natural gas producer Novatek and Japan Bank for International Cooperation (JBIC) related to marine LNG transshipment complexes in Russia.

The deal confirms the parti…

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New European Project to Develop Smart Navigation Systems for Ships

A consortium of Swedish, Norwegian and German partners has been given the go-ahead for their research and innovation project Prepare Ships that is expected to increase safety and efficiency in shipping.

The 26-month project, which is scheduled…

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Hunter Tankers’ 1st ECO VLCC Newbuilding Delivered

Hunter Tankers, a part of Hunter Group ASA, has taken delivery of its first of seven identical ECO design VLCC newbuildings, the Hunter Atla.

The vessel was handed over from Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea.

Tw…

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TMS Cardiff Gas Signs Long Term LNG Carrier Charter Deal with Total

Operator and manager of LNG carriers TMS Cardiff Gas has entered into a long term time charter contract with Total Gas & Power Limited for one of its eleven newbuilding LNG carriers.

Under the deal, one of the company’s X Carrier Series vessel…

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ABB: Incheon Port to Cut Passenger Ship Emissions with Shore Power

Technology company ABB has secured a contract to install a shore-to-ship solution at the South Korean Port of Incheon.

As explained, the solution would enable passenger vessels visiting Incheon to slash emissions, noise and vibrations at berth…

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Study: LNG Is the Most Commercially Viable Alternative Marine Fuel

LNG is the most mature, scalable, and commercially viable alternative fuel currently available for the maritime industry, a new study finds.

Released by SEA\LNG and entitled ‘Comparison of Alternative Marine Fuels’, the study was conducted by …

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