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Turkey Makes Another Bid for a 7th-Generation Drillship

Turkey's state-owned petroleum company has reportedly reached an agreement with DSME to buy a 2015-vintage drillship which was never delivered.

According to Turkish news outlet Yeni Safak, Turkish oil and gas company TPAO has purchased the 7th…

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Consumer and Shipping Companies Offset CO2 Emissions Through Biofuels

A new partnership of 18 leading companies in shipping and consumer goods is working with the GoodShipping initiative to substantially reduce emissions from the cargoes they ship. The cargo owners and other partners are undertaking a commitment to…

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Baker Hughes and Shell unite to speed up global energy transition

Oilfield services provider Baker Hughes and oil major Shell have joined forces to speed up the energy transition and reach net-zero carbon emission goals, in a push to decarbonise the energy and industrial sectors.

Baker Hughes reported on Wed…

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Iran Reports Second Successful Defense of Tankers from Somali Pirates

Iranian naval forces are reporting for the second time in less than a month that they have successfully prevented a suspected pirate attack on one of Iran’s oil tankers in the region of the Gulf of Aden. Monday morning, Iranian state TV announced…

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Norway: July oil output on par with NPD predictions

Norway’s oil production in July 2021 was on par with predictions made by the Norwegian Petroleum Directorate (NPD).

Preliminary production figures for July 2021 show an average daily production of 2,035,000 barrels of oil, NGL, and condensat…

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Vessel Congestion Sets Two New Records in Southern California

After months of reported progress on reducing the backlog at the two largest ports in Southern California, the congestion has again spiked to record levels. The Marine Exchange of Southern California, which oversees the movement of vessels at the…

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NRF: Retail Imports Peaking, Expect to Stabilize for Record Year

After months of dramatic increases in the level of retail imports, the volumes are now expected to level off and decline from a peak projected to arrive at the major U.S. containers ports in August. According to new forecasts from the National Re…

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Yantian Slowly Recovers but Delay Could Impact Christmas Shipments

Two weeks after declaring that the international container terminal at Yantian was resuming full operations, there are signs that some of the disruption and backlog are easing across the global supply chain. However, experts continue to warn that…

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Palmali Holding - Press Release

On 31th May 2020, certain media groups published articles containing a number of allegations which are false and that aim to damage the business reputation of Palmali. We as the Palmali Group of Companies have issued the following statement to cl…

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UK asked to exempt 200,000 seafarers, maritime workers from quarantine restrictions

The UK Chamber of Shipping - the voice of the country’s shipping industry - has urged the UK government to exempt seafarers and maritime workers from any quarantine restrictions planned to be imposed.

The trade association has also called on…

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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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