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World's First: Japanese Firms to Looking to Build Sustainable Bulk Carriers for Copper Transport from Chile
Japan's NYK Line said Thursday its NYK Bulk & Project Carriers Ltd. (NBP), Oshima Shipbuilding Co., Ltd. (OSHIMA), and Sumitomo Corporation (SUMITOMO) had signed a memorandum of understanding to study, design, and construct the worldâs first Handymax bulk carrier (ammonia dual fuel type) dedicated to the transport of copper products, that will reduce CO2 emissions to zero.The MoU signing comes just a year after Corporación Nacional del Cobre de Chile (CODELCO)âŚ
HD KSOE Engineering Vice Chairman Receives Industrial Award
HD Korea Shipbuilding & Marine Engineering Vice Chairman Ga Sam-hyeon has received the Silver Tower Order of Industrial Service Merit for his contribution to national industrial development.The award was made in recognition of his achievements as a manager who contributed to the development and take-off of Korea's shipbuilding industry.The award was presented at the 20th Shipbuilding and Maritime DayâŚ
Japanese Leaders Collaborate on Ammonia-Fueled Gas Carrier
ClassNK issued an Approval in Principle (AiP) for an ammonia-fueled gas carrier which has been jointly developed by Mitsui O.S.K. Lines, Tsuneishi Shipbuilding and Mitsui E&S Shipbuilding.Ammonia is expected to be used as a ship fuel for decarbonization since it does not emit CO2 when combusted. While still in development, some project that it will be the dominate 'alternative fuel' starting in the mid-2030s.In the meantimeâŚ
Conflicts of Laws: Blocking Statutes and Antiboycott
This article will focus on conflicts of laws stemming from the EU Blocking Statute and U.S. antiboycott law, both of which are intended to prevent parties from complying with a disfavored sanctions regime. The article will highlight some of the inherent conflicts in dealing with multiple conflicting sanctions regimes. It follows our comprehensive summary of sanctions and shipping, which covered severalâŚ
Carnival Posts $4.4 Billion Quarterly Loss
Carnival Corp reported a quarterly net loss of $4.4 billion on Thursday, as the cruise operator took major write-downs on the sale of some ships and was virtually crippled by the global COVID-19 pandemic.Shares of the Florida-based company, which also warned of a net loss for the rest of the year, fell over 4% in premarket trading.Cruise line operators were among the hardest hit in the global health crisis and the industry had some of the largest early high-profile infections.The company said it
Ecochlor Expands to Korea
Ecochlor Ramps Up Business Development with a New Regional Office in Korea.Ecochlor is pleased to announce the opening of a new regional office in Korea to increase support of shipyards and owners in their efforts toward ballast water management compliance.DongJu (DJ) Cho will be leading the efforts in Korea as the new Regional Business Development Manager. Mr. Cho has more than 30 years of experience working in the Korean shipbuilding and shipping industry. Mr.
Second-hand Ship Sales Reach 10-year High
Shipping struggles to recover from worst crisis in 30 years; market for new ships remains weak. Sales of second-hand ships reached a 10-year high on cautious optimismâŚ
Interferry Conference Reviews Issues with Financial Impact
The challenges and opportunities posed by alternative fuels, safety management and social media dominated Interferryâs 42nd annual conference in Split, Croatia,âŚ
Polaris Orders 10 âGreenâ VLOCs at Hyundai Heavy
Hyundai Heavy Industries (HHI), the worldâs largest shipbuilder, announced today that it signed a $800 Million worth contract to build ten 325,000 dwt VLOCs (VeryâŚ
Suisun Bay Vessel Removal Project Completed
Maritime Administration Executive Director Joel Szabat joined federal, state and local officials and environmental groups to mark the completion of an agreementâŚ
d'Amico Tankers Updates Ship Sales and Purchases
In January 2017, dâAmico Tankers sold MT High Endurance and MT High Endeavour, two 46,992 dwt medium-range product tanker vessels, built in 2004 by STX, South KoreaâŚ
Last Port of Call for the U.S. Merchant Marine?
Part II in a two-part series, continued from the January 2017 edition of Maritime Reporter & Engineering News. Read Part I here. If reliance on the foreign commercialâŚ
Trader to Re-export Wheat it Could Not Unload in Egypt
Grain trading company Medsofts plans to re-export a shipment of 31,000 tonnes of Russian wheat it has been unable to unload in Egypt since July because of confusion about checks for the ergot fungusâŚ
Team Tankers Acquires New Vessels
Team Tankers International (TTI) completed the acquisition of the âSichem Amethystâ and âSichem Contesterâ, previously on timecharter in the Q4 2015. In additionâŚ
Hyundai Sees Mega Ships Leading Global Demand
As the demand for mega vessels has increased, Hyundai Heavy Industries Co. expects mega- sized container ships to lead global orders until early next year as shipping companies seek ways to cut costsâŚ
Greece's Creditors Take Aim at Shipowners
Greece's international lenders are asking the debt-laden country to hike vessel tax, according to a report in the Financial Times. The shipping sector is a vital generator of income for Greece.
HHIâs 2014 Results Fall Short
The worldâs biggest shipbuilder, Hyundai Heavy Industries (HHI), held its 41st Annual General Meeting of Shareholders in Ulsan, South Korea. The meeting agenda includedâŚ
Celebrity Cruises Orders 2 New Ships
Celebrity Cruises has taken a bold step in ship design with the signing of a letter of intent for a new class of vessels, Royal Caribbean Cruises Ltd. and FrenchâŚ
Ship Recycling Supports Maritime Academies
From office equipment and furniture, to single-family homes, the U.S. Government periodically auctions property it no longer needs. In doing so, it makes money from aging Federal assets that can be used to better serve the American people. So what does the Government do with a 450-ft long, 10,000 ton, federally-owned, commercial ship that has reached the end of its operational life? How do you ensureâŚ
Ugly Ducklings & Steaming the Way to Victory in WWII
The design and construction of WWII Liberty cargo ships revolutionized shipbuilding by overhauling the blueprint process and standardizing on commonality of parts, welding, pre-fabrication and assembly line construction. Give me Liberty, or give me death!â a rallying cry of the Revolutionary War, got a second act in World War II. âBuilt by the mile and chopped off by the yard,â Roosevelt promised the no-frills Liberties would form a âbridge of shipsâ across the Atlantic. And they did.