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Articles : "group"

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, the cargo line is unprofitable and has been for a …

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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 more than 9,200 marine terminal jobs across BC, ta…

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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 has reported that all the 23 people aboard the ship…

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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.

“Retailers are still trying to minimize the impact o…

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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 factors that will make a port resilient and robus…

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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 million) over the next six years to extend shoresi…

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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 opportunity assessment 2019-2029. The report states globa…

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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 is scheduled to be delivered by South Korea’s Samsu…

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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 at the facility from the expiry of the current lon…

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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 Triton in January 2019.

The full integration is “a …

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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 at IMS Oil’s Fujairah and Singapore ports.

A…

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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, distribution and fuelling services to multiple e…

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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 Limited, Aktor S.A., Metron S.A. and Hudong-Zhonghua S…

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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 bond carries a coupon of 3 months LIBOR + 6.50 % …

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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 August 16, 2019, after delivery from Norwegian shipbu…

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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 auction that drew $244.3 million in high bids, the tota…

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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 that the rule would be applied to “all Indonesian-f…

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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 is related to its multipurpose terminal.

This is…

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Indonesia to Delay Sulphur Cap Implementation in Its Waters

Indonesia would not switch to low-sulphur fuel from January 1, 2020, due to abundant supplies of 3.5% sulphur content fuel, Reuters said citing the country’s transport ministry.

Namely, the authorities plan to allow Indonesia-flagged ships to continue burning marine fuels with a maximum 3.5…

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India’s Venezuelan June oil imports highest in 7 quarters - trade

India’s oil imports from Venezuela surged to about 475,200 barrels per day (bpd) in June, more than double the previous month and highest in 21 months, data from shipping and industry sources showed.

Washington imposed sanctions on Venezuela’s state oil company PDVSA in January to put press…

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