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
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
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
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
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%.
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.
In spite of record vessel deliveries the container shipping profitability is expected to improve in 2015, driven by lower unit costs. The global fleet is expected to grow 7.2% in 2015, a faster pace than demand which is forecast to expand at a more modest 5.3%.
The cost of marine fuel continues to be a major headache for global shipping companies. Bunker fuel costs account for approximately 70 per cent of the total voyage expenditure for a vessel and ship operators prefer purchasing bunker fuel from ports where the cost is lower.
Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel NAPA and ClassNK announced a deal with Kawasaki Kisen Kaisha Ltd. (K Line) to install an eco-efficiency and operational
Shell Marine Products (SMP) offers a complete portfolio of marine lubricants for almost any type of vessel, from large container ships to fishing boats. But with recent developments, such as the prevalent practice of slow steaming, new environmental regulations such as the revised vessel
L-3 SAM Electronics has retrofitted Carnival Cruise Lines’ fleet of 24 ships with its Voyage Data Recorder (VDR 4350) system. L-3 SAM Electronics’ VDR 4350 system provides extended recording time and ECDIS-based onboard and onshore replay features
On November 21, the International Maritime Organization, or IMO, finalized the Polar Code and adopted amendments to the International Convention for the Safety of Life at Sea, or the SOLAS, which will create mandatory safety requirements for ships operating in Arctic and Antarctic waters.
SPS Overlay has been used on three tankers to provide thermal insulation boundaries between two Heavy Fuel Oil (HFO) tanks to successfully convert one of them into a Marine Gas Oil (MGO) tank. This was the first time that SPS Overlay has been used in this application; and was approved by
Inlecom Systems Ltd (Inlecom) has launched i-Ship, an innovative software application, enabling ship representatives to fulfil their reporting obligations to European and International maritime and custom authorities with greater speed and efficiency.
As part of its continued supply network growth in West Africa, Hutton’s Group has opened a new facility in Equatorial Guinea to boost its supply chain in the region. Operating as part of Hutton’s Remote Site Services, the new base in Luba Freeport will enhance the successful supply
The global shipping industry, which transports around 90% of world trade, only produced about 2.2% of the world’s total Green House Gas emissions during 2012 compared to 2.8% in 2007. Shipping’s total emissions have reduced by more than 10% during the same period.
Classification society ClassNK has granted approval to the design of the new 28AHX-DF dual-fuel engine developed by Niigata Power Systems Co., Ltd. The new engine is slated to be used as the main engine on a new LNG-fuelled tugboat being built by Keihin Dock Co., Ltd. for NYK Line
Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor its carbon emissions under a law agreed by the European Union on Wednesday, intended as a step towards tackling a growing source of
The International Maritime Organization (IMO) today adopted the Polar Code aimed at regulating shipping in Polar Regions. Several environmental groups have criticized the measures for not going far enough to protect the Arctic and Antarctic environments
To offset the additional cost incurred by switching to cleaner fuels in Emission Control Areas, as required by the new regulation, Maersk Line will introduce a new Low Sulphur Surcharge (LSS). The surcharge will be effective from 1 January 2015 and affect all cargo with load port
Shell has launched its new range of Environmentally Acceptable Lubricants (EALs), including Shell Naturelle S4 Stern Tube Fluid 100. The Shell Naturelle range of products is designed to enable ships entering U.S. waters to comply with the revised 2013 Vessel General Permit (VGP).