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WE SERVE IN 5 CONTINENTS & 7 SEAS

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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IUMI: Marine Cargo Premiums Inadequate to Cover Losses

The marine cargo market is in a state of ‘accelerating change’ as underwriters are taking action to address unprofitable results and improve performance, according to the International Union of Marine Insurance (IUMI).

“On a global basis, …

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ILWU: Automation of BC Terminals to Cause Major Job Cuts

Automation of British Columbia container terminals could lead to a loss of thousands of jobs, according to a report commissioned by the International Longshore and Warehouse Union Canada.

The study found that automation is likely to eliminate …

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Fire Erupts aboard Tanker at Norway’s Sture Terminal

A Liberian-flagged tanker caught fire while moored at the Sture terminal in Norway on September 13.

According to Norwegian oil major Equinor, the fire broke out in the engine room of the 2005-built tanker Dubai Harmony.

The ship’s captain h…

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NRF: US Retail Imports to Surge Again Ahead of More Tariffs

Imports at major retail container ports in the U.S. reached unusually high numbers just before new tariffs on goods from China took effect September 1 and are expected to surge again before another round of tariffs takes effect in December.

“R…

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UK: Uncertain Times Make Strong Ports More Vital Than Ever

Global trade, and the maritime sector that enables so many of its flows, faces uncertain and challenging times, according to the UK Major Ports Group.

Research from maritime industry research experts Drewry has identified a small number of key…

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Marseille Fos Wants to Be Mediterranean’s 1st Fully Electric Port by 2025

The Port of Marseille Fos has unveiled a new eco-friendly initiative that supports the port’s goal of becoming the Mediterranean’s first fully electric port by 2025. 

As disclosed, the port authority plans to spend EUR 20 million (USD 22 …

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Sustainability Concerns of IBC Stakeholders

Sustainability Concerns Compelling IBC Market Players to Prefer Metal and Paperboard Materials

A latest market intelligence report delivers vital insights into the IBCs market, which considers the global industry analysis 2014-2018 and opportu…

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NYK Signs Another LNG Carrier Long-Term Charter with Total

Japanese shipowner NYK and a subsidiary of French oil major Total have signed another long-term charter contract for a newly-built LNG carrier.

Under the contract, Total Gas & Power Chartering Limited (TGPCL) will charter an LNG carrier that i…

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Qatar Petroleum, Fluxys Ink Zeebrugge LNG Terminal Deal

Qatar Petroleum has signed a long-term LNG unloading services agreement for Zeebrugge LNG terminal with Fluxys Belgium.

Under the deal, signed with Fluxys LNG in Brussels on September 2, Qatar Terminal Limited (QTL) subscribed unloading slots …

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MOL Chemical Tankers Launches Nordic Tankers Merger

Singapore-based MOL Chemical Tankers has started a full integration process of MOL Nordic Tankers (MOLNT).

MOLCT acquired 100% of shares in Danish chemical tanker company Nordic Tankers, subsequently be renamed to MOL Nordic Tankers, from Trit…

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ENOC to Supply Marine Lubricants for Up to 16 Tankers

The UAE-based energy group Emirates National Oil Company (ENOC) has signed a memorandum of understanding (MoU) with Greek bunker trader IMS Oil Trading to supply marine lubricants for up to sixteen product tankers.

Lubricants will be delivered…

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SEA\LNG Expands US Network with Stabilis Energy

SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of LNG as a marine fuel, has expanded its U.S. membership network with Houston-based Stabilis Energy.

Stabilis Energy provides small-scale LNG production…

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China-Led Consortium Chosen to Build LNG Terminal in Cyprus

A consortium led China Petroleum Pipeline Engineering Corporation (CPPEC) has been selected as the preferred bidder for the construction of an LNG terminal at Vassiliko Port in Cyprus.

The consortium, comprising Wilhelmsen Ship Management Limi…

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Ocean Yield Collects USD 125 Mn from Hybrid Bond Issue

Oslo-listed Ocean Yield has completed a new perpetual hybrid callable bond issue of USD 125 million.

The net proceeds from the hybrid bond would be used for general corporate purposes including new investments, according to the company.

The…

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Color Line’s Color Hybrid Named in Norway

The world’s largest plug-in hybrid ship Color Hybrid, built for cruise and ferry company Color Line, was named on August 23 in Sandefjord, Norway.

The vessel started sailing on its route from Sandefjord, Norway to Strömstad, Sweden as of Aug…

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Region-Wide Gulf of Mexico Lease Sale Draws $159.4 Million in High Bids

By Jessica Resnick-Ault and Nichola Groom NEW YORK, Aug 20 (Reuters) – A major auction of oil and gas leases in the U.S. Gulf of Mexico on Wednesday received $159.4 million in high bids, government officials said.

Combined with a March aucti…

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Indonesia to Implement Sulphur Cap on Schedule

Indonesia has decided that vessels flying the Indonesian flag would comply with the IMO’s 2020 sulphur cap, after the country earlier informed that it needed more time to comply.

Namely, the country’s Ministry of Transportation confirmed tha…

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Yilport Holding Inks 49-Year Concession for Port of Taranto

Turkish port operator Yilport Holding has signed a 49-year concession agreement for the Port of Taranto in Italy.

The deal was signed on July 30 with Port Network Authority of the Ionian Sea (PNAIS), the managing institution of the port, and i…

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