The chairman of Swedish international shipping operator Stena Line AB told press he can imagine selling the loss-making ferry group. However, said Dan Sten Olsson, "it has to be a serious buyer who is not just out to shop up the company." Stena Line - which also operates the English Channel with British shipping operator P&O under the P&O Stena Line company - posted a loss after financial items of $57.15 million for 1999. The group has cut costs to meet changes following the end of tax-free shopping in Europe. Olsson said he expected the loss-making group to break even in 2001. He said there were several buyers who may be interested in the Swedish group, one of the world's largest shipping operators.
Classification society and consultancy DNV GL inform it has introduced the "Environmentally Acceptable Lubricants" (EAL) Report Service to help ship operators to comply with the new rules set out for the US Vessel General Permit (VGP) without the need for extensive outlays, & provides feedback on areas of concern. The VGP framework, which came into effect in December 2013 stipulates that biologically degradable oils, or EAL, must be used at all oil to sea interfaces
Classification society Bureau Veritas has strengthened its capacity to provide passenger ship operators with health and hygiene on board certification by acquiring Paris-based Aquarism, a specialist company dealing with the control of legionnaire and other viruses in water systems. Jean-Jacques Juenet, head of passenger ship services for BV, says, "Managing air and water contamination risks on board passenger ships is becoming both
Bulk shipping operator China Shipping Development is spending $87m on another two oil tankers to boost capacity. The new tankers, each with a capacity of 46,000 deadweight tons, are due for delivery between the fourth quarter of 2007 and the first quarter of 2009. Upon delivery, the shipping operator will control a fleet of 71 oil tankers with a combined carrying capacity of 3.5 million deadweight tonnes. The purchase of the two new vessels will be financed by bank borrowings
Lifeboat and davit manufacturer Schat-Harding has strengthened its support for cruise ship operators in the area by opening a service base in . The new offices, service base and workshops will be within the facilities of Worldwide Marine Services, the global ship technical support group, and Schat-Harding will train and authorize Worldwide Marine technicians to support its own service engineers. The base will provide quick reaction service and repair support to cruise ship operators and also
Following discussions initiated by the Union of Greek Shipowners with RightShip and facilitated by Lloyds Register, Lloyd’s Register confirmed clarification of RightShip’s ship inspection and reporting procedures as follows: A dry cargo ship inspection will be carried out by RightShip inspectors either when recommended by RightShip or when requested by the ship operator. On completion of any inspection, the RightShip Ship Inspection Report, if listing any deficiencies
Globe Wireless has signed an Asset Purchase Agreement to acquire substantially all the assets of SeaWave & Rydex. The transaction is aimed to create a maritime communications end to end solutions, and provide a complete range of services to over 8,000 ships and over 500 ship operators. By combining the Globe Wireless network and total solution with the innovative technology of SeaWave and Rydex the business will provide customers with the complete choice of systems
Double Hull Tankers Inc. (DHT.N) filed with U.S. regulators to periodically sell up to $200m in common and preferred stock and debt securities, according to a Reuters report. The tanker ship operator said in a registration statement with the U.S. Securities and Exchange Commission that it will use the proceeds from the offering for general corporate purposes. The purposes may include vessel acquisitions, business acquisitions or other strategic alliances, reduction of outstanding borrowings
Ship operators and managers are benefitting from the administrative efficiency of a single payment system for port calls launched by Wilhelmsen Ships Service. A Float Account scheme operated by the company enables the ship operator to deposit a fixed amount with them to cover a month’s anticipated port calls. The sum is used to cover all the expenses of the operator’s vessels, wherever they call in the world.
ABB introduce several software 'Advisory Systems' for the marine market to help all types of ocean vessels dramatically reduce fuel consumption. These Advisory Systems include the latest versions of ABB’s energy management system for marine applications (EMMA) and Amarcon’s Octopus solution and ABB say that Integrated advanced software, electrical systems and Azipod® propulsion can help ship owners slash fuel consumption by up to 20%.
Speculations about an upcoming sale of Hamburg Süd have intensified in the market, says a report in WSJ. Hamburg Sud, the seventh-largest container-shipping operator world-wide in terms of capacity, is part of the Oetker Group, a family-owned German conglomerate
Wärtsilä EnergoProFin is a state-of-the-art energy saving solution that increases propeller efficiency and creates fuel savings of up to five percent. The solution is now available for both controllable pitch propellers (CPP) as well as fixed pitch propellers (FPP)
AAL, one of the world’s leading breakbulk, project cargo and heavy lift shipping operators, has been awarded the prize for ‘Excellence in Project Cargo, Breakbulk / Heavy Lift’ at the 21st Annual Australian Shipping & Maritime Industry Awards.
The International Chamber of Shipping (ICS) has welcomed the extension of EUNAVFOR Operation Atalanta, following a decision by the EU Council, which will continue to see military forces deployed for counter piracy operations in the Western Indian Ocean until December 2018.
The role of the pilot in mitigating the potential economic and environmental risk from today's large vessels is one of the most important in maritime safety. In recognition of this, the International Chamber of Shipping (ICS) has embarked upon its first comprehensive survey of
Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line.
There has been reports that Danish conglomerate A.P. Møller-Mærsk A/S , the world’s No. 1 shipping company, could seek to take over Hanjin Shipping Co. and Hyundai Merchant Marine Co. However, WSJ, quoting sources says that Maersk Line isn’t likely to move
First luxury cruise sailed Northwest Passage in Aug-Sept; Voyage will be repeated next summer. A surge in Arctic tourism is bringing ever bigger cruise ships to the formerly isolated, ice-bound region, prompting calls for a clamp-down to prevent Titanic-style accidents and the pollution
Forum promotes improved safety, security, productivity, efficiency and environmental performance through collaboration and innovation. ABS hosted the fall meeting of the Ship Operators Cooperative Program (SOCP) in Houston October 5 and 6, welcoming representatives from industry
South Korean liner carrier Hanjin Shipping has announced job cuts in the U.S., but says the move is not connected to its failure and filing for bankruptcy protection, says a report in Bloomberg. Hanjin will lay off about 180 members of its 500 person workforce in the United States
The Japanese shipping operator Nippon Yusen Kabushiki Kaisha (NYK Line) will book an ‘extraordinary’ loss totaling 195 billion Japanese yen (U.S. $1.89 billion) for the interim period of its current fiscal year, forced by a deep slump in the shipping market to write down the
MaK M 46 DF dual fuel engines to be installed on a new generation of cruise ships Caterpillar Marine said its dual fuel engines have been selected for a new generation of cruise ships; tThe company’s MaK 16 M 46 DF dual fuel engines
The European Commission welcomes progress made this week within the International Maritime Organisation (IMO) to address greenhouse gas emissions in the maritime sector. IMO notably adopted a global and mandatory system to collect fuel consumption data from ships.
Thome Ship Management Pte Ltd and Radio Holland Singapore have concluded a Service Rate Agreement (SRA) covering the NavCom service and maintenance needs of its entire fleet of more than 200 vessels. Headquartered in Singapore, Thome Ship Management has worked together with Radio Holland for
The Port of Los Angeles and GE Transportation are partnering to digitize maritime shipping to help goods reach consumers faster. First-of-its-kind port information portal delivers fast, data-driven insights to enhance maritime supply chain performance and better serve ultra-large