Maritime Law & Regulations News

18 Feb 2020

Kongsberg, Zero Join Forces for Renewables

MS Roald Amundsen is the first of two hybrid ships Hurtigruten will add to its fleet over the next few years. Innovative sustainable technology from Kongsberg Gruppen reduces fuel consumption and CO2-emissions on the ships by 20 percent. Image: Kongsberg Gruppen

International marine technology group Kongsberg Gruppen and  Zero environmental foundation signed a three-year collaboration agreement.The main intentions of the collaboration are to create increased momentum in the shift to renewable and emission-free solutions.Together, we will work to make Norway an important global test arena for the development and realization of new zero-emission solutions for all types of ships, and to spread these solutions internationally.The collaboration will also work to develop electricity and hydrogen infrastructure for emissions-free shipping.

18 Feb 2020

Anatomy of a Marine Casualty Investigation

MV Argo Merchant was a Liberian-flagged oil tanker that ran aground and sank southeast of Nantucket Island, Mass., on Dec. 15, 1976, causing one of the largest marine oil spills in history. U.S. Coast Guard Archives

Blank Rome’s maritime attorneys have represented clients in some of the largest maritime casualties in the last 20 years, including the Staten Island Ferry allision with a maintenance pier in New York, the blow out and eventual loss of the Deepwater Horizon drilling rig in the Gulf of Mexico, the sinking of the El Faro during Hurricane Joaquin, and the collision between the Navy Destroyer USS John S. McCain and the tanker ALNIC MC in the Singapore Strait. These casualties have resulted in the catastrophic loss of life…

18 Feb 2020

The Federal Government’s 2020 Inland Impact

© William J. Chizek / Adobe Stock

It is often difficult to push through the federal government morass to focus on the issues that actually matter to the inland operator. While 2020 inevitably will be a contentious year in American politics, it is critical to stay focused on the items that will have direct impact on the U.S. maritime industry. From a potential new Water Resources Development Act (WRDA) bill to potential Jones Act challenges, 2020 will be an important year for inland operators to stay politically engaged.Work on WRDAJanuary marked the beginning of Congress’ work in earnest toward introducing a new WRDA bill.

18 Feb 2020

SGS Acquires TTSA's Diving Division

© Erik Ihlenfeld / Adobe Stock

Commercial diving company Subsea Global Solutions (SGS) said it has acquired the commercial diving division of T&T Salvage Asia, Pte Ltd. (TTSA), enhancing SGS’ capabilities in Singapore and strengthening its position in the Asia-Pacific region.Paul Peters, CEO of SGS said, “This is a strategic addition to our recent acquisition of Underwater Contractors Pte. Ltd. Singapore (UWC). Creating a single platform under the SGS umbrella with the most advanced technologies, special repair equipment…

18 Feb 2020

Vessels at Port of Libyan Capital Evacuated After Attack

Vessels including fuel tankers docked at the sea port of the Libyan capital were evacuated on Tuesday after an attack, two port officials said.Eastern Libyan forces, which have been trying to take the capital since April, said they had attacked a Turkish vessel discharging weapons, an eastern military official said. (Reporting by Ahmed Elumami and Ayman al-Warfalli; Writing by Ulf Laessing; Editing by Alex Richardson)

18 Feb 2020

US Warship Seizes Suspected Iranian Weapons

The guided-missile cruiser USS Normandy (CG 60) boarded a stateless dhow in the Arabian Sea and interdicted an illicit shipment of advanced weapons and weapon components intended for the Houthis in Yemen, February 9, 2020. (U.S. Navy photo by Michael H. Lehman)

A U.S. Navy warship seized weapons believed to be of Iranian ‚Äúdesign and manufacture,‚ÄĚ including 150 anti-tank guided missiles and three Iranian surface-to-air missiles, the American military said on Thursday.In a statement, the military said the guided-missile cruiser Normandy boarded a dhow, a traditional sailing vessel, in the Arabian Sea on Sunday.‚ÄúThe weapons seized include 150 ‚ÄėDehlavieh‚Äô anti-tank guided missiles (ATGM), which are Iranian-manufactured copies of Russian Kornet ATGMs‚Ķ

18 Feb 2020

EU Loan Supports Ystad LNG Upgrades

Artist's impression of the new port (© Port of Ystad)

The European Investment Bank (EIB) has signed a SEK 445 million ($45.6 million) loan agreement with the Municipality of Ystad to expand harbor facilities so that new, larger liquefied natural gas (LNG) vessels on the Swinoujscie-Ystad line can access the harbor.The port in the southern-Swedish town is a busy connection point to the Polish Port of Swinoujscie and the Danish island of Bornholm. The project aims at increasing the capacity and upgrading the Port of Ystad facilities in order to accommodate larger ro-pax vessels over 240 meters in length…

18 Feb 2020

Golden Ocean Warns on Profit, Supply Chains Due to Coronavirus

© masterskuz55 / Adobe Stock

Shipping group Golden Ocean warned on Tuesday its profit would be hit by a slowdown in demand due to the coronavirus outbreak in China, sending its shares down more than 3% in early trade.The world's second-biggest economy has seen business activity curtailed in recent weeks as it battles to combat the spread of the virus, pushing down shipping rates for commodities such as coal and iron ore used in Chinese factories."The market is currently presenting a challenging scenario that will impact our results in the near term…

18 Feb 2020

EU Clears OLT Takeover by SNAM and FSI

Image: OLT Offshore LNG Toscana

The European Commission has approved the acquisition of OLT Offshore LNG Toscana by SNAM and the UK’s First State Investments International (FSI), under the EU merger regulation.According to the Commission, OLT is active in the management of a floating storage and regasification unit for liquefied natural gas in Italy.SNAM is the holding company of the Snam group, which is active in the development and integrated management of gas infrastructures and, in particular, in the transmission…

18 Feb 2020

DP World to Delist from Nasdaq Dubai

Image: DP World

DP World, one of the world‚Äôs largest port operators, is delisting from the Nasdaq Dubai and returning to fully private ownership.According to a press release, the  UAE-owned port behemoth‚Äôs parent company, Port and Free Zone World, has offered to buy the 19.55% of DP World‚Äôs shares traded on the Nasdaq Dubai for $16.75 a share, representing a 29% premium on its closing price of $13 per share on Sunday.DP World's parent company will pay Dubai World $5.15 billion to help the government-owned conglomerate with its outstanding commitments to banks.DP World remains financially strong‚Ķ

17 Feb 2020

Wärtsilä to Supply Scrubbers to NCL

Wärtsilä will supply customized Hybrid Scrubber systems that meet and exceed the latest emissions legislation to two Norwegian Cruise Line ships. Photo: Norwegian Cruise Line.

European technology giant Wärtsilä will be supplying hybrid scrubber system packages for Norwegian Cruise Line's (NCL) Norwegian Breakaway and Norwegian Getaway.According to a press note from Wärtsilä, the scrubber systems have been ‚Äėspecially customized to meet the specific needs‚Äô of the two cruise ships ‚Äď which included adapting ‚Äėto meet the ships‚Äô restricted space availability‚Äô.The scrubber systems will enable the 325 meters long cruise vessels to be in compliance with the International Maritime Organization‚Äôs (IMO) sulfur restriction legislation while operating on heavy fuel oil (HFO).

16 Feb 2020

WFW Advises TUI on $1.3Bn Take Over

Image: Watson Farley & Williams

London-based international law firm Watson Farley & Williams has advised TUI Cruises GmbH on its acquisition of Hapag-Lloyd Cruises from TUI AG for US$1.3bn, excluding net debt.According to the the transaction is subject to customary closing conditions and regulatory approvals and is expected to close in summer 2020. The deal includes the acquisition of HL Cruises’ luxury and expedition fleet, consisting of two five-star plus luxury vessels and three expedition cruise ships, by TUI Cruises.

16 Feb 2020

Kiel Intros Germany's Largest Shore Power System

Image: Siemens

The Port of Kiel commissioned Siemens to build Germany’s largest shore power system to date which is capable of supplying two ships simultaneously.With a power of 16 megavolt amperes (MVA), the Siharbor solution will supply two ships simultaneously with certified eco-power, for the first time. This will reduce annual CO2 emissions by more than 8,000 tons.The system is expected to go into test operation within the 2020 cruise ship season. Maritime shipping plays a special role in Kiel. The port is the point of departure for cruises and has ferry connections to the Baltic states and Scandinavia.

16 Feb 2020

BPER Banca Finances Marittima Emiliana

Image:  Watson Farley & Williams

BPER Banca SpA has completed a naval financing for ME Marittima Emiliana SpA to a second-hand tanker built by the Chinese shipyard in Guangzhou in 2012.The tanker, originally flying under a Bahamian flag, has been renamed ‚ÄúLady Rina‚ÄĚ and is currently flying under an Italian flag. M.E. Marittima Emiliana, part of the Amoretti Armatori Group, provides transportation service of petroleum and chemical products.Watson Farley & Williams and the Mordiglia law firm of Genoa represented‚Ķ

13 Feb 2020

PSA Marine Buys Peruvian Towage Co

Image: PSA Marine

Singapore towage and pilotage company PSA Marine has moved into the South American market with the acquisition of Tramarsa Flota, a Peruvian towage company.Tramarsa Flota and its subsidiaries have been acquired from Grupo Romero. Headquartered in Lima, Tramarsa Flota offers towage, pilotage, launch boat and offshore services in 10 major ports along the Peruvian coastline. It owns 45 vessels, including 17 tugs, 23 launches and five support vessels for diving activities and other marine services.The stock purchase agreement was signed in Lima…

13 Feb 2020

DP World Acquires Ukraine's TIS Terminal

Sultan Ahmed Bin Sulayem. Photo: DP World

Marine cargo handling company DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to the satisfaction of certain conditions, including regulatory approval."Bringing the TIS Container Terminal into DP World's global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine," said a press release from the global supply chain…

13 Feb 2020

Ships to Face 30% Higher Costs at Panama

Image: Panama Canal Authority.

The Panama Canal will begin collecting a freshwater surcharge from ships using the waterway from 15th February, as part of actions to address a scarcity of rainfall after the surrounding area recorded its fifth driest year of the last seven decades in 2019.The charge will be set at $10,000 for any vessel over 125 feet long. There will also be a variable surcharge based on the level of the Gatun Lake at the time of transit.The International Chamber of Shipping (ICS) calculate this move will increase costs to ships passing through the Panama Canal by up to 15%.

12 Feb 2020

CMA CGM Joins Energy Observer in Hydrogen Project

Image: Energy Observer

French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of hydrogen as a marine fuel.Energy Observer, formerly a racing catamaran, is now an experimental platform for tomorrow’s energy sources. It is sailing round the world in order to speed up development of the innovative solutions for the environment.This partnership with CMA CGM deals with the development of cleaner and more sustainable energies to eliminate CO2 emissions, greenhouse gases and air pollutants.

12 Feb 2020

Kongsberg Revenue Up in Challenging Maritime

Image by Kongsberg Maritime

Norwegian technology enterprise Kongsberg Maritime announced that it increased operating revenue to NOK 5,490m (USD 593mln) from NOK 2,041m (USD 220mln) in the fourth quarter.Growth excluding acquired business is 21%, said a press release from the Kongsberg Gruppen (KOG) company. This is among other things driven by a high level of activity in the LNG and after-sales markets as well as by growth in the Sensors & Robotics area. "Our maritime operations are growing in a market where the newbuilding activity is at an all-time low…

11 Feb 2020

Rand Logistics to Buy American Steamship Company

© Daniel Novak / MarineTraffic.com

New Jersey-based Rand Logistics announced it has entered into a stock purchase agreement to acquire rival Great Lakes shipping company American Steamship Company (ASC) from Chicago-based GATX Corporation for $260 million.Headquartered in upstate New York, ASC operates the Lakes' largest U.S.-flagged fleet, annually transporting more than 27 million tons of dry bulk commodities such as iron ore, coal and limestone on vessels ranging in size from 634 feet to over 1,000 feet. ASC reported segment profit of $46.1 million for 2019 (including a one-time gain of $10.5 million)…

12 Feb 2020

Titan Acquires HII's San Diego Shipyard

(U.S. Navy photo by Adam Ross)

One the United States' largest fleet service and ship repair sites is changing hands.Ship repair and commercial- and defense-related fabrication services provider Titan Acquisition Holdings announced on Wednesday it has reached a deal to acquire San Diego Shipyard from Huntington Ingalls Industries (HII). Financial terms were not disclosed. The transaction, expected to close in the second quarter, is subject to customary closing conditions.The San Diego Shipyard, formerly Continental Maritime of San Diego…

11 Feb 2020

Upstream Sector Leads O&A M&A in 2019

Graph: GlobalData

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report, ‚ÄėM&A in Oil and Gas ‚Äď 2020‚Äô, the acquisition of Anadarko Petroleum by Occidental Petroleum in April 2019 for a purchase consideration of US$57bn was the highlight of oil and gas M&A activity last year, says GlobalData, a leading data and analytics company.Ravindra Puranik‚Ķ

11 Feb 2020

Hapag-Lloyd, HHLA Form Ties

Image: Hapag-Lloyd AG

German international shipping and container transportation company Hapag-Lloyd AG and compatriot logistics and transportation company Hamburger Hafen und Logistik AG (HHLA), will be continuing their close cooperation in Hamburg for another five years.On the basis of this decision, both companies will now be able to make necessary investments and boost their overall competitiveness, said a joint press release.Both parties have also agreed to intensify their collaboration on sustainability-related issues.

11 Feb 2020

Capbreton's All-Electric Passenger Ferry

Photo courtesy of Torqeedo

Capbreton is turning to green technologies to reduce pollution of its air and waterways. The popular holiday destination on the Atlantic coast of France saw its first all-electric passenger ferry go into service in July 2019, replacing an older diesel-burning vessel.The 35-passenger aluminium vessel, called e-Boucarot, is powered by an integrated electric propulsion system developed by Torqeedo. It consists of two 10 kW electric outboards and four 48V 5 kWh lithium batteries with…

11 Feb 2020

BSM Fined $1.75 Mln for Illegal Bilge Dumping

© GIBFRAN46 / MarineTraffic.com

Operator Bernhard Schulte Shipmanagement (Singapore) on Monday pleaded guilty in federal court to maintaining false and incomplete records relating to the discharge of bilge waste from the tanker vessel Topaz Express, a felony violation of the Act to Prevent Pollution from Ships.According to court documents and information presented in court, the defendants illegally dumped bilge waste from the Hong Kong-flagged Topaz Express directly into the ocean, without properly processing it through pollution prevention equipment.

10 Feb 2020

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) ‚Äúmediation pilot‚ÄĚ.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UKCS.The OGA has found that disputes have generally arisen due to entrenched licensee behaviors or communication breakdowns. They can be costly and time consuming for the companies involved‚Ķ

10 Feb 2020

Grindrod Shipping Acquires IVS Bulk Stake

Image: Grindrod Shipping Holdings Ltd

The global provider of maritime transportation services in the drybulk and product tanker sectors Grindrod Shipping Holdings announced acquisition of an additional 33.25% stake in its IVS Bulk joint venture and the sale of the 2010-built small product tanker Kowie.A subsidiary of the company, Grindrod Shipping Pte. Ltd (GSPL) has agreed to acquire the 33.25% ordinary and preferred equity shares held by one of its two JV partners in IVS Bulk for a total consideration of $44.1 million, thereby increasing its stake to 66.75%.

10 Feb 2020

Damen Delivers Patol Boat to Mexican Navy

Photo: Damen

The Secretariat of the Navy of Mexico (SEMAR) has held a ceremony marking delivery of the Long Range Ocean Patrol (POLA) Class vessel ARM Reformador. The delivery ceremony was attended by Admiral José Rafael Ojeda Durán, Secretary of the Navy and High Command of the Mexican Navy, in the company of Mr. Juan Carlos Atecas Altamirano, Municipal President of Salina Cruz Oaxaca. Damen Shipyards Group was represented by Executive Board member René Berkvens, President of Damen Shipyards Mexico Horacio Delgado, and POLA Project Director Frank Verhelst.

10 Feb 2020

Japan Takes Second Complaint to WTO Over South Korean Shipbuilding

© Juozas55 / Adobe Stock

Japan launched a second complaint at the World Trade Organization on Monday over support South Korea gives its shipbuilding industry, intensifying a wider dispute between the two Asian countries.Japan said in its filing that it had complained to South Korea on Jan. 31 over measures related to the development, production, marketing and sales of commercial vessels. Japan circulated it to other WTO members on Monday.Washington's two biggest Asian allies are embroiled in a widening…

09 Feb 2020

KSOE Wades into the Red

Image: Korea Shipbuilding & Offshore Engineering

South Korean manufacturer of oil tankers, cargo and passenger vessels, and warships, Korea Shipbuilding & Offshore Engineering (KSOE) reported its fourth-quarter net loss of 26.2 billion won (US$ 22.2 million), remaining in the red compared with a year ago.The KSOE is an intermediate holding firm controlling Hyundai Heavy Industries and two other Hyundai Heavy Industries Group shipbuilders.According to a regulatory filing, operating profit for the October-December period last year was 169.9 billion, compared with a loss of 246.4 billion won a year ago.

09 Feb 2020

Unique Group Acquires APAC Marine Unit

(L-R) Harry Gandhi and Mike Pugh. Photo: Unique Group

Integrated marine and subsea solutions provider Unique Group has announced the acquisition of the Australian-company Western Advance’s Marine Division.The provider of services and solutions for the offshore, subsea and life support industries also announced the appointment of Chris Forde as its new regional vice-president.Western Advance’s integration with Unique Group ties in with the Group’s strategy to enhance its portfolio of autonomous solutions for marine, offshore and subsea industry operations in the region.Harry Gandhi…

06 Feb 2020

TÜV SÜD, IX Wind Join Forces for Wind Power

Photo: IX Wind

The global testing, certification, inspection and training provider TÜV SÜD and Taiwan's IX Wind have signed a memorandum of understanding (MOU) to cooperate in various wind power industry services in Taiwan and Japan.Combining forces in the Taiwanese and Japanese wind power industry, makes it clear for insurance companies, banks and investors whom they can rely on. The two organizations effectively form a one stop shop for quality and safety.The collaboration between IX Wind‚Ķ

06 Feb 2020

Mitsubishi Installs Marine SOx Scrubbers

Image: Mitsubishi Shipbuilding

Mitsubishi Shipbuilding announced that its DIA-SOx R, , the marine SOx scrubbers, installed on two ultra large containerships recently gained approvals from the the flag states.The first 2 units of the scrubber retrofitted onboard ultra-large container ships got approvals from the classification societies, Lloyd's Register and Nippon Kaiji Kyokai, respectively after confirmation of the excellent result of sea trials and consequently also got approvals from the Flag States, Panama and Singapore.Those 2 ships…

06 Feb 2020

"K" Line Delivers Coal Carrier ‚ÄúTohoku Maru‚ÄĚ

Corona Youthful graced the cover of the December 2019 edition of Maritime Reporter & Enginering News. (Image: Maritime Reporter & Engineering News)

Kawasaki Kisen Kaisha, Ltd., (‚ÄúK‚ÄĚ Line) has delivered the Tohoku Maru, a 91,000 DWT-type special coal carrier at Oshima Shipbuilding Co., Ltd.Tohoku Maru is same type as ‚ÄúK‚ÄĚ Line‚Äôs specialized fleet for transport of thermal coal known as the ‚ÄúCorona-series‚ÄĚ. The ‚ÄúCorona-series‚ÄĚ consists of epoch-making coal carriers equipped with wide beam and shallow draft, which are said to be the most suitable type to enter ports of Japanese Thermal Power Stations to discharge cargo.Tohoku Maru is equipped with Advanced Flipper Fins and Rudder Fin which promote her propeller efficiency.

06 Feb 2020

Amazon's Pink Dolphins Threatened by End of Fishing Ban

© think4photop / Adobe Stock

The Amazon river dolphin is an intelligent and friendly mammal that appears to grin and flush like a human blushing when it gets excited.But some are concerned about the world's largest freshwater dolphin coming under threat again in Brazil, where fishermen hunt and kill it illegally to make bait for a catfish called piracatinga.A legal moratorium on fishing the piracatinga ended last month, prompting calls for its renewal from environmentalists and researchers such as biologist Vera da Silva…

04 Feb 2020

Japan Takes Shipbuilding Dispute to WTO

Image: Hyundai Merchant Marine

The Japanese government has filed a new petition with the World Trade Organization (WTO) against South Korea concerning alleged aid provided by the Korean government to the country’s shipbuilding industry.According to Yonhap, Japan has asked South Korea to discuss the issue which it says is affecting international competition, and if the talks fail, Japan will seek to establish a dispute settlement panel.In November 2018, Japan filed a complaint with the WTO, claiming that South Korea violated existing regulations by providing subsidies to its shipbuilders…

03 Feb 2020

Vopak Finalises Sale of Algeciras Oil Terminal

Image: Royal Vopak

Dutch multinational company Royal Vopak has recently completed the previously announced divestment of its oil terminal in Algeciras to First State Investments.This divestment is the finalization of the sale of three terminals (Amsterdam, Hamburg and Algeciras) to First State Investments as previously announced.On 12 February 2020, Vopak will publish its 2019 full-year results, including the financial results of the divestment which are in line with previous announcements made in 2019.

03 Feb 2020

Canada Boosts Marine Surveillance

(Photo: National Aerial Surveillance Program)

Canada's new eye in the sky will help detect oil spills and other marine pollution, and monitor ship and endangered whale movements.Minister of Transport Marc Garneau announced that Transport Canada has acquired a new addition to its National Aerial Surveillance Program’s aircraft fleet in an effort to enhance prevention measures needed to respond to marine pollution incidents faster and more effectively, and to better protect marine ecosystems and habitats.The De Havilland Dash 8 aircraft…

02 Feb 2020

Fugro, HC2 Divest Global Marine Group Stake

Image: Fugro

US-based financial services company HC2 Holdings and the Dutch multinational provider of geo-intelligence Fugro have sold offshore engineering specialist Global Marine Group (GMG) to private equity firm J.F. Lehman & Company for a sum of USD 250 million.HC2 holds 73% of Global Marine Group’s shares, while Fugro holds 23.6% of the shares. Through its ownership of 23.6% in GMG, Fugro will monetize the remainder of its non-core interest in GMG, which is expected to result in proceeds for Fugro of close to USD 40 million.Global Marine Group is made up of the three business units Global Marine…

02 Feb 2020

International Seaways Signs Refi Deal

Image by International Seaways, Inc.

New York-headquartered product tanker company International Seaways has closed on senior secured credit facilities worth a total of USD 390 million.The crude oil and petroleum product tanker company said that the facilities consists of a 5-year USD 300 million senior secured term loan facility, a 5-year USD 40 million revolving credit facility, of which USD 20 million has been drawn, and a 2.5-year USD 50 million senior secured term loan credit facility.The NYSE-listed ship owner…

02 Feb 2020

Poseidon Readies $140Bn Shipping Loan

Image by Poseidon Principles

With the signing by the France-based international lender to global shipping BNP Paribas and the Swiss multinational investment bank Credit Suisse, Signatories of the Poseidon Principles represent around $140 billion in loans to international shipping ‚Äď about 30% of the total global ship finance portfolio.Poseidon Principles is a global framework for responsible ship finance which helps incentivize shipping‚Äôs decarbonization.They establish a common framework to quantitatively‚Ķ

02 Feb 2020

MOL in Restructuring Excercise

Image: MOL

Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the  marine transportation provider intends to establish three new divisions and integrate its two tanker divisions to achieve synergy.MOL will establish the Offshore Gas Project Division as an organization focused on businesses related to the LNG field in energy value chains (FSRU projects, LNG bunker vessel project, etc.) to accelerate the enhancement of the offshore business‚Ķ

31 Jan 2020

Japan: Ocean Release for Fukushima Water

© pixel_dreams / Adobe Stock

A panel of experts advising Japan's government on a disposal method for radioactive water from the destroyed Fukushima nuclear plant on Friday recommended releasing it into the ocean, a move likely to alarm neighboring countries.The panel under the industry ministry came to the conclusion after narrowing the choice to either releasing the contaminated water into the Pacific Ocean or letting it evaporate - and opted for the former. Based on past practice it is likely the government‚Ķ

31 Jan 2020

China Virus May Delay Scrubber Retrofits

© hasehase2 / Adobe Stock

Shipping companies may face delivery delays of vessels fitted with exhaust gas filtering equipment that complies with anti-pollution rules that kicked in this year due to the impact from the virus outbreak in China, shipping sources said on Friday.A Mitsui OSK Lines executive said many vessels were in Chinese docks to get so-called scrubbers installed to meet the new emissions rules but with four Chinese provinces asking companies to extend the Lunar New Year holiday by a week, to Feb.

31 Jan 2020

Norwegian Police Raid Teekay Office Over Waste Export

© Claus Schaefe / MarineTraffic.com

Norway's national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste, the agency, known as Okokrim, said on Thursday.In recent years, courts in Europe using tougher regulations have fined shipping companies for transporting hazardous waste for disposal in cases that have added to complexities for seaborne transporters often operating in several jurisdictions.Maria Bache Dahl, acting senior public prosecutor with Okokrim…

31 Jan 2020

JFLCO Acquires Global Marine Group

Ian Douglas, Chief Executive Officer. Photo: Global Marine Group

British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F.

31 Jan 2020

Bahri Posts 172% Surge in Q4 Net Profit

Image: Bahri

The National Shipping Company of Saudi Arabia (Bahri) has reported strong financial results for the quarter and the full year ended December 31, 2019, underpinned by an increase in returns of several business units.The transportation and logistics company said in a press release that its fourth-quarter net profit surged 172.48 percent to SAR 249.08 million ($66.4 million) from SAR 91.41 million reported in the same period in 2018.Total revenue came in at SAR 1.93 billion, up 8.85…

30 Jan 2020

Ørsted Eyes Carbon-Neutrality by 2025

Image: √ėrsted

The global leader in offshore wind Ørsted A/S  will become carbon neutral by 2025. "This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonization targets for limiting global warming to 1.5°C," said the company.Additionally, Ørsted sets a target of achieving a carbon neutral footprint by 2040.During the last ten years, Ørsted has transformed from a company with fossil fuels at the core of its business to a pure-play renewables company.

30 Jan 2020

LNG and Shipping Decarbonisation Target

Image: International Council on Clean Transportation

Though liquefied natural gas (LNG) could help the shipping industry to reach its decarbonization target, it could wreck the climate, finds a study.According to a research by the International Council on Clean Transportation (ICCT), switching vessels to the LNG fuel would only serve to worsen shipping’s climate impact due to previously underestimated leakage of the climate super-pollutant methane.More and more ships, including container ships and cruise ships, are being built to run on liquefied natural gas (LNG)…

30 Jan 2020

Kirby to Acquire Savage Inland Marine Fleet

(Photo: Savage)

Houston-based Kirby Corporation said it has signed a definitive agreement to acquire Savage Inland Marine's towboat and tank barge fleet for approximately $278 million in cash and the assumption of leases.Kirby will acquire Savage's inland fleet consisting of 46 towboats and 90 tank barges with approximately 2.5 million barrels of capacity, primarily used for transporting petrochemicals, refined products and crude oil on the Mississippi River, its tributaries and the Gulf Intracoastal Waterway.

30 Jan 2020

NYK Examines Ammonia as Marine Fuel

(Photo: NYK)

At the first symposium of the Green Ammonia Consortium (GAC) on January 22, Japanese shipping company NYK presented its approach of using ammonia as marine fuel for zero-emission ships.Ammonia does not emit carbon dioxide (CO2) when it is heated and would thus be expected to contribute to the effort to address global warming. NYK is participating in the consortium to consider not only the maritime transport of ammonia as a power generation fuel used by electric power companies but also the use of ammonia as marine fuel…

30 Jan 2020

Capesize Slumps, Coronovirus Pull Down Rates

© papa1266 / Adobe Stock

The capesize component of the Baltic sea freight index plunged to an all-time low on Thursday, hurt by high fuel costs owed to new shipping regulations and a seasonal slowdown worsened by a coronavirus outbreak.The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 27 points, or 5.1%, to 498 ‚ÄĒ its lowest level in over 3 years.The capesize index dropped 92 points, or 98.9%, to a record low of 1 point, extending its losing streak to a 35th straight session.Average daily earnings for capesizes‚Ķ

29 Jan 2020

EIB Fund Greek LNG Bunkering Vessel Construction

 Financing agreement for the construction of the first LNG bunkering vessel for maritime use in Eastern Mediterranean. Photo: ©EIB

European Investment Bank (EIB) and Public Gas Corporation of Greece (DEPA) have signed an agreement to finance with up to 20 million euros the construction of a new liquid natural gas (LNG) bunkering vessel for maritime use in Greece which will be based in Piraeus. EIB said that the first vessel of its kind in Greece and the Eastern Mediterranean will have a capacity of 3,000 cubic meters and will be supplied with LNG at Revithoussa LNG terminal.The bunker tanker will refuel its LNG at Revithoussa LNG terminal and will carry out bunkering both in Piraeus and other Greek ports…

28 Jan 2020

Performance Shipping Adds P. Fos to Fleet

Image: Performance Shipping

Performance Shipping, a global shipping company specializing in the ownership of vessels, announced that, through a separate wholly-owned subsidiary, it took delivery of the M/T P. Fos (formerly M/T Virgo Sun).The vessel is a 2007-built Aframax tanker vessel of 115,577 dwt that the Company entered into an agreement to purchase in November 2019.Two days ago, the Greece-based company signed a Memorandum of Agreement to sell to an unaffiliated third party the 2008-built Post-Panamax container vessel M/V Rotterdam…

28 Jan 2020

Teekay Tankers Closes $533M Credit Facility

Image: Teekay Tankers

Bermuda-based operator of mid-sized tankers Teekay Tankers has closed a new five-year, $533 million revolving credit facility to refinance 31 vessels.The size of the new debt facility was reduced since announcing the term sheet signing in November 2019 as a result of excluding five vessels from the new facility, including the three vessel sales noted above and a potential for further opportunistic vessel sales.The proceeds from the new debt facility will be used to repay approximately $455 million of the company’s existing debt.

28 Jan 2020

Fueltrax Earns Certification by Verifavia

Image: Fueltrax

Verifavia Shipping, the independent accredited environmental verification and auditing body for maritime industry, has certified Fueltrax, against the European Union’s (EU) Monitoring Reporting and Verification (MRV) regulation requirements and IMO Data Collection System (DCS).The EU MRV regulation requires ships of 5,000 gross tonnages or higher to collect data from previous years to monitor CO2 emissions, fuel consumption, and other parameters, such as distance traveled, time at sea, and cargo carried on a per voyage basis.

28 Jan 2020

Phishing Penetration Test Measures Crew Vigilance

© Igor Kardasov / Adobe Stock

GTMaritime is now offering a penetration testing service free of charge which allows customers to evaluate the ability of their personnel to identify phishing attacksShipping companies choosing GTMailPlus and other solutions from the GTMaritime portfolio are employing best-in-class technology to prevent the vast majority of phishing attempts from ever reaching crew. But threats are continually evolving: hackers are constantly trying to come up with new ruses to outwit software-based protections…

27 Jan 2020

Libya's NOC Warning Over Impact of Oil Blockade

The head of Libya's state oil firm warned on Monday that if the international community tolerates a blockade on the country's oil industry it would be complicit in ending the rule of law in the country.The 10-day old blockade is the most extensive for years, shutting down fields and ports in the east and south of Libya and causing production to plunge to 262,000 barrels per day (bpd) from around 1.2 million.Production has gradually been falling since the blockade began as storage capacity in Libya's ports fills up, forcing Libya's National Oil Corp (NOC) to shut in production upstream.NOC Chairman Mustafa Sanalla said that at the Ras Lanuf port only 30% of storage capacity was operational…

27 Jan 2020

Fishing for Trouble

© Rachael / Adobe Stock

Radar confusion and speed cited in ferry groundingWhile the perennial issue of commercial vessel and recreational boat collisions, near misses and allisions with navigational aids are certainly nothing new, in much of  the navigable waters of the United States they are typically associated with the warmer weather of late spring, summer and early fall when privately-owned boats abound on the nation‚Äôs lakes, rivers, bays and sounds.But even after the cabin cruisers, sailboats, jet skis‚Ķ

27 Jan 2020

CMB Targets Zero CO2 Emissions by 2050

(Photo: CMB)

Belgium-based shipping group Compagnie Maritime Belge (CMB) announced it will invest in new technologies that will enable it to operate a zero carbon fleet by 2050.The 125-year-old firm, which operates a fleet of bulk carriers, containerships and chemical carriers, said it has already begun offsetting its CO2 emissions to have net zero CO2 emissions from 2020 by supporting certified climate projects in developing countries and acquiring high quality Voluntary Carbon Units (VCU’s) in Zambia (agro-forestry…

27 Jan 2020

Red and White and Green All Over

Enhydra is Red and White Fleet’s first step toward its goal of reaching a zero emissions fleet by 2025. (Photo: Red and White Fleet)

INSIGHTS: Thomas C. Escher, Chairman, Red and White FleetIn 1960, Tom Escher, the grandson of the founder and now the current owner, started working as a sweeper and a mechanics helper on the Red and White vessels. In 1997, Escher purchased the Red and White Fleet, becoming the third generation of the family to own and operate the business. In September 2018, Red and White Fleet welcomed Enhydra, the newest and largest addition to the fleet. Enhydra is the first 600-passenger hybrid-drive vessel operating in the United States.

27 Jan 2020

Three Missing After Tug Collision

The U.S. Coast Guard and local agencies are searching for three crew members missing following a collision between two towing vessels on the Mississippi River at mile marker 123, near Luling, La., Sunday.The Coast Guard said its watchstanders in New Orleans were alerted at 5:37 a.m. on Sunday that towing vessels RC Creppel and Cooperative Spirit had collided and that four members of the RC Creppel were missing.The Cooperative Spirit was reportedly transiting upbound on the river when it entered a barge fleeting area and allied with barges before colliding with the towing vessel RC Creppel, causing the RC Creppel to sink and barges to…

26 Jan 2020

Exmar Secures FLNG, VLGC Financing

Image: Exmar

Belgium-headquartered manager of specialized floating assets Exmar said that China Export Credit Insurance Corporation (Sinosure) approved the release of $40 million from the debt service reserve account under the TANGO FLNG loan facility.The documentation for the release of the restricted cash has been signed and the effective release will occur within the coming days.In the meantime the TANGO FLNG has exported its second cargo for YPF in December 2019 and the third cargo is being produced.Exmar has two Very Large Gas Carriers under construction at Jiangnan…

26 Jan 2020

Vietnam Begins 48 MW Wind Farm Construction

Andrew Johnstone. Photo: Climate Fund Managers

Climate Fund Managers (CFM), the manager of the Climate Investor One facility (CI1), have announced that construction has begun of its 48MW near-shore wind farm in Tra Vinh province Vietnam.CI1‚Äôs Construction Equity Fund has committed USD 71 million to the project company, ‚ÄúTra Vinh Wind Power Company‚ÄĚ, which is jointly funded by Korean energy firm ST International. Vestas, the pioneering global supplier of wind turbines will act as EPC for the project.The collaboration makes use of ST International‚Äôs extensive knowledge of the Asian energy market‚Ķ

26 Jan 2020

Alfa Laval Joins 'Getting to Zero Coalition'

Image: Alfa Laval

Sweden's Alfa Laval has joined the Getting to Zero Coalition, a coordinated effort to fight climate change by introducing zero-emission vessels by the year 2030.Alfa Laval is committed to reaching this vital goal, which is key to decarbonizing the global shipping industry and reaching the International Maritime Organization (IMO) target of cutting vessel-related greenhouse gas emissions by at least 50% by 2050.The ‚ÄėGetting to Zero Coalition‚Äô was announced on September 23, 2019‚Ķ

23 Jan 2020

DP World Acquires 44% Stake in Swissterminal

Image: DP World

Dubai-based global ports operator DP World has taken a 44% stake in Frenkendorf-headquartered Swissterminal Holding, the container terminal operator in Switzerland.The parties have agreed not to disclose financial details of the transaction.Swissterminal, which is headquartered in Frenkendorf close to Basel, operates additional locations in Zurich-Niederglatt, Basel-Birsfelden, Basel-Kleinhueningen and Liestal. The terminals are well connected to Europe’s leading container ports in Rotterdam and Antwerp as well as the ports of La Spezia…

23 Jan 2020

OSV Orion Fueled with LNG in Germany

Second ship-to-ship LNG bunkering operation carried out in Germany and the first in the Port of Rostock (Source: Nauticor)

The world‚Äôs largest LNG bunker vessel ‚ÄėKairos‚Äô, operated by Nauticor, has supplied DEME‚Äôs next generation offshore installation vessel Orion, this first such ship-to-ship bunker transfer at the Port of Rostock.Orion is currently at the Liebherr construction yard in the Port of Rostock, where it is being outfitted with a 5,000-ton crane. The new offshore installation vessel is the fifth dual fuel addition to the DEME fleet, following three trailing suction hopper dredgers (Minerva‚Ķ

22 Jan 2020

IMO Calls for Green Shipping at Davos

Image: International Maritime Organization (IMO)

International Maritime Organization (IMO) Secretary-General Kitack Lim is calling for renewed cooperation from all stakeholders to tackle the urgent issues of air pollution and greenhouse gas emissions from shipping at the World Economic Forum in Davos.Lim said: "When temperature records are routinely broken, icecaps are melting and some parts of the world are flooding while others are burning, there can be little doubt that addressing climate change must be humankind's major priority."  IMO's strategy is to reduce sector-wide emissions by at least 50% by 2050.

22 Jan 2020

South Korea Anti-piracy Unit Heading to the Strait of Hormuz

© Nicolas Parneix / Adobe Stock

South Korea's military said on Tuesday it plans to expand the deployment of an anti-piracy unit now operating off the coast of Africa to the area around the Strait of Hormuz, after the United States pressed for help in guarding oil tankers.Attacks on oil tankers in the Strait of Hormuz off the coast of Iran last year prompted U.S. officials to call for allies to join a planned maritime security mission.While South Korea, a key U.S. ally, will deploy its forces to the area, including the Gulf…

21 Jan 2020

Kongsberg to Test Autonomous Ship Technology

Eidsvaag Pioneer, which will be equipped for remote-operated and autonomous transport as part of the AUTOSHIP project Photo: Kongsberg

Norwegian technology firm Kongsberg announced it will install and test autonomous ship technologies on two vessels in Europe's inland waterways and short sea coastal shipping routes.The AUTOSHIP project will aim to test and further develop key technology linked to fully autonomous navigation systems, intelligent machinery systems, self-diagnostics, prognostics and operation scheduling, as well as communication technology enabling a prominent level of cyber security and integrating the vessels into upgraded e-infrastructure…

20 Jan 2020

GMT Invests in Argo Travel Group

Image: Argo Travel Group

Global Marine Travel, a Florida-based travel management company to the maritime industry, has partnered with the Greek travel firm Argo Travel Group to enhance its travel offering, particularly in terms of service delivery and driving growth in the Greek and international markets."In Argo, Global Marine Travel, gains a marine partner with an experienced team and a strong reputation for service delivery, that will drive the growth of the business in Greece and other international locations…

20 Jan 2020

Verdane Invests in Danelec Marine

Photo: Danelec Marine

Northern European growth equity investor  Verdane Capital has taken a majority stake in the Denmark-based maritime hardware and software company Danelec Marine.Under the agreement, which was signed December 31, 2019, Verdane assumes a majority shareholder position in the privately held corporation. Danelec‚Äôs existing shareholders will continue to own shares in the company, and the management team, including CEO Hans Ottosen and COO Casper Jensen, will continue in their positions.Headquartered in Birkeroed‚Ķ

20 Jan 2020

IMO's 2050 Decarbonization Target Has $1 Trillion Pricetag

© Martin Lueke / Adobe Stock

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N. shipping agency, the International Maritime Organization (IMO), aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050…

20 Jan 2020

Croatia's DIV Buying Norway's Kleven Shipyard

Kleven Verft in Ulsteinvik. Photo by Per Eide - Shared by Kleven Verft

Croatian DIV Group is set to buy Kleven Verft, a Norwegian shipbuilding company specializing in the construction of offshore and cruise vessels.DIV, which owns the Brodosplit shipyard in Split Croatia, has signed an agreement to buy the Norwegian company based in Ulsteinvik, with the deal is expected to be executed in the next few weeks, Kleven said Monday.Kjetil Bollestad, CEO at Kleven, said he was happy the company was getting "a new and solid owner of the yard.""Through a difficult period, we have managed to deliver fantastic ships, as well as exploit the high competence at the shipyard.

19 Jan 2020

SAAM Acquires Intertug

Image: Sociedad Matriz SAAM S.A

Chilean logistics company SAAM has struck a deal to buy Intertug Investment Holding, a towage services company with operations in Colombia, Mexico and Honduras.SAAM will spend $54.5 million for 70% of Intertug, based on an enterprise value of $98 million, and carry out the acquisition through a capital increase and a share purchase, it said in a stock market exchange announcement.Intertug's 25-vessel fleet logs more than 18,000 maneuvers a year, generating around US$44 million in towage service revenue annually.The partnership with Intertug allows us to enter Colombia…

19 Jan 2020

Ingalls Shipbuilding to Fund STEM Projects

Photo by Derek Fountain/HII

America’s largest military shipbuilding company Huntington Ingalls Industries (HII) Ingalls Shipbuilding division has awarded $99,592 in grants to 28 STEM-related initiatives from schools and educational organizations in Mississippi and Alabama.According to a press note, this is the program’s 12th year. Ingalls has awarded more than $1 million for science, technology, engineering and mathematics projects during that period.“These projects expose students to innovative concepts…

17 Jan 2020

NOC Condemns Calls for Oil Export Terminals to be Shut

© Juozas55 / Adobe Stock

Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized government in Tripoli's use of oil revenues to pay for foreign fighters.Eastern Libya and part of the south of the country is controlled by the Libya National Army (LNA) of Haftar…

15 Jan 2020

Beware of the Nominal Entity

© hildeanna / Adobe Stock

Make sure you know who you are really contracting with.A famous U.S. politician once insisted that ‚Äúit takes a village to raise a child.‚ÄĚ That said, any marine operator will tell you that it takes an even larger village and a ridiculous number of contracts to operate a vessel, and even more to manage a fleet of vessels. To make our marine operations run, we have to agree to contracts that provide for the construction or charter of a vessel, staffing, vessel catering, communications, fuel, maintenance, provisions, software, inspections, etc.

16 Jan 2020

Master Fined for Delayed Engine Failure Reporting

© Rene van Quekelberghe / MarineTraffic.com

A tanker captain has been convicted and fined for failing to immediately alert Australian authorities of a main engine breakdown in 2019.On January 31, 2019, the tanker Asphalt Spirit suffered a main engine breakdown and began drifting 30 kilometers northeast of Point Lookout on North Stradbroke Island while carrying 14,000 tonnes of asphalt from from Korea to Australia.The ship’s master reported the incident via email to the Australian Maritime Safety Authority (AMSA) just after 10 p.m.

15 Jan 2020

Wasaline Green Newbuild RoPax Moves Forward

Image: NAPA

The maritime software, services and data analysis provider NAPA has announced the signing of a new contract with the northernmost year-round ferry, Wasaline, for its newbuilding Aurora Botnia.When it launches in 2021 the Aurora Botnia will be the world’s first LNG/LBG battery ship with pods under the vehicle deck, as well as the world’s most environmentally friendly RoPax vessel.Under the agreement, NAPA will provide Wasaline with its industry benchmark software applications, NAPA Emergency Computer…

15 Jan 2020

The Good, the Bad and the Undeniably Ugly

© SunnyS / Adobe Stock

The end of 2019 promises to be a busy, and potentially discordant, legislative and regulatory period for the United States maritime industry as both Congress and the Executive Branch look to take decisive action, with both positive and negative potential impacts depending on your perspective. With appropriation and authorization bills still pending, and various open regulatory actions, there are significant opportunities for maritime stakeholders to influence policy outcomes.Funding Fights Continue in CongressOn October 31…

15 Jan 2020

Maersk Chief Warns EU Antitrust Policy Benefits China, US

© Oliver Hoffman / Adobe Stock

Strict EU enforcement of competition rules prevents the development of the global champions necessary to compete with Chinese and U.S. companies, the head of shipping company Maersk warned in an interview."Is it really a good idea that we don't allow the creation of a European global champion? In doing so, we risk being outperformed by a Chinese company, over which the European Union has no influence," Maersk CEO Soren Skou told Danish business daily Finans.A Maersk spokeswoman confirmed his comments to Reuters.Skou is a member of the European Round Table for Industry (ERT)…

14 Jan 2020

Prosafe Misses Payment to Cosco

Image: Prosafe SE

The largest and most versatile fleet of semi-submersible accommodation vessels in operation worldwide Prosafe SE has missed its final payment to China‚Äôs Cosco shipyard for the Safe Notos flotel.Offshore accommodation specialist  informed last November that it had re-evaluated its outlook and revised its forecasts resulting in a $341 million write down of assets and consequently a marginalized book equity amid a prolonged downturn and weaker outlook in the North Sea.Prosafe further informed that although the company had sufficient liquidity until early 2021‚Ķ

14 Jan 2020

Höegh LNG Secures $80M Loan

Image: Höegh LNG

Norway-based floating liquefied natural gas (LNG) giant Höegh LNG said it has secured $80 million to refinance an existing bond loan maturing in June 2020."The facility is provided by three of the company‚Äôs relationship banks and will be used to refinance part of the HLNG02 bond loan which matures in June 2020 and general corporate purposes," the Norwegian shipowner said in a press note.The facility has a tenor of 2 years and an estimated interest rate of about 5.2% for drawn amounts based on the current floating interest rates.

14 Jan 2020

Eagle Bulk Joins Decarbonization Coalition

Image: Eagle Bulk Shipping

The US-based dry bulk carrier Eagle Bulk Shipping has joined industry group the Getting to Zero Coalition.The group is an alliance of over 90 companies within the maritime, energy, infrastructure, and finance sectors which are committed to the decarbonization of deep-sea shipping, in line with the International Maritime Organization's greenhouse gas emissions reduction strategy and the UNFCC Paris Agreement.Gary Vogel, Eagle Bulk’s CEO, said, “We are constantly working on improving energy and operational efficiencies at Eagle…

14 Jan 2020

TORM Secures $496M for Debt Refinancing

Image: TORM

Denmark-based product tanker company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure.The carrier of refined oil products said the total amount is a combination of two separate term facilities and a revolving credit facility, which will be used to refinance the company’s debt covering a total of USD 502 million.Following the refinancing, TORM does not have any major debt maturities until 2026 which supports TORM’s strong capital structure…

14 Jan 2020

Trelleborg Acquires Signum Technology

Photo: Trelleborg

Trelleborg has acquired Signum Technology Ltd. The acquisition of Signum and its subsidiary companies Gall Thomson, KLAW LNG, KLAW Products, and Vee Bee Filtration., provides safety-critical solutions for flow control applications, including Marine Breakaway Couplings (MBCs) and safety solutions for LNG transfer systems.The move is part of Trelleborg’s strategy to strengthen its position as a system provider in oil and gas market segments, such as ship-to-ship and ship-to-shore LNG transfer.Signum Technology is headquartered in Wiltshire…

14 Jan 2020

Fincantieri, Naval Group JV Starts

©A.DELUC8Les quatre frégates Horizon

The joint venture between Fincantieri and Naval Group, held its first board meeting for Naviris. Through Naviris, Fincantieri and Naval Group are pooling their strengths to develop a new strategic capability and respond in an innovative way to the needs of their customers.The two companies have established that Naviris is a 50/50 joint venture. With the head office located in Genoa with a subsidiary in Ollioules, the Naviris team will focus on bi-national and export projects.

14 Jan 2020

Court Orders DP World's Rights Restored for Doraleh Port

A London arbitration court has ordered Djibouti to restore DP World's right to operate the Doraleh Container Terminal as detailed under a 2006 concession deal within two months or pay damages, the state news agency WAM reported on Tuesday.The government of Djibouti seized the terminal from Dubai government-controlled DP World in February 2018 over a dispute dating back to at least 2012.An independent expert has estimated the losses to DP World at more than $1 billion, WAM reported. (Reporting by Asma Alsharif; Editing by Jan Harvey)

13 Jan 2020

Are Foreign Ships Secure in Iran?

Image: Ports & Maritime Organization

Mohammad Rastad, Iran's Deputy Minister of Roads and Urban Development said that foreign trade ships that transport goods to Iran can be confident that there will be no problem for their movement and there is no obstacle for their arrival in the country.Managing Director of Iran’s Ports and Maritime Organization Mohammad Rasta said that commercial ships carrying cargo to Iranian ports enjoy safety in light of the security provided by Iran for territorial waters.According to Iran government…

13 Jan 2020

Kongsberg Maritime Shuts Down KM Contros

Image: Kongsberg Maritime

Kongsberg Maritime (KM), a Norwegian technology enterprise within the Kongsberg Gruppen, informed that it has suspended the sale of the previously announced German KM Contros GmbH to AML Oceanographic Ltd. (AML).Following a strategic evaluation and prioritization of the KM business in 2019, the company decided to divest Contros, and a Letter of Intent was signed with a future buyer of the business.However, the companies have now agreed not to pursue the previously announced letter of intent, and the sale of Contros will therefore not proceed.

10 Jan 2020

Second RoPax Launched for Hankyu Ferry Co

The recently launched and christened Yamato will service Hankyu Ferry Co's Shinmoji-Kobe route. (Photo: Mitsubishi Heavy Industries)

Mitsubishi Shipbuilding Co., Ltd. held a christening and launch ceremony for the second of two passenger/cargo ferries currently under construction for Hankyu Ferry Co, Ltd.The new vessel, named Yamato, is being constructed at the Shimonoseki Shipyard & Machinery Works yard in Japan's Yamaguchi Prefecture and is scheduled to be delivered in June 2020 after rigging work is completed.Together with Settsu, which was christened and launched last August, Yamato will serve on the operator's Shinmoji-Kobe route.Yamato…

10 Jan 2020

Russian Navy Ship 'Aggressively Approached' U.S. Destroyer

Photo by Petty Officer 3rd Class Jack Aistrup
Navy Public Affairs Support Element East

A Russian navy ship "aggressively approached" a U.S. Navy destroyer in the North Arabian Sea on Thursday, the U.S. Navy's Bahrain-based Fifth Fleet said in a statement on Friday.The Fifth Fleet said the U.S. destroyer USS Farragut sounded five short blasts and requested the Russian ship alter course."The Russian ship initially refused but ultimately altered course and the two ships opened distance from one another," the statement said. (Reporting by Ghaida Ghantous; Writing by Tuqa Khalid; Editing by Catherine Evans)

10 Jan 2020

New IMO Rules Overshadow Hapag-Lloyd's Profit Outlook - CEO

Rolf Habben Jansen  (Photo: Hapag-Lloyd)

Tougher rules on sulphur emissions from ships set by the International Maritime Organisation (IMO) from January burden the profit outlook for Germany's container shipping line Hapag-Lloyd this year after a good 2019, its chief executive said."This will make it difficult for us to achieve a better (2020) result," Rolf Habben Jansen told reporters in Hamburg in comments on the ban on ships using a sulphur content above 0.5% on risk of fines, which is shaking up oil and shipping.But with above-market growth rates in transport volumes in 2019…

09 Jan 2020

Seacor Borrows $200M for SEA-Vista

 Eric Fabrikant, Chief Operating Officer. Photo: Seacor Holdings

Florida-based marine services company Seacor Holdings said that its indirect wholly-owned tanker subsidiary SEA-Vista entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase.The agreement provides for a $100 million revolving credit facility and a $100 million term loan facility, both of which mature in December 2024. The agreement allows SEA-Vista to use the borrowings for general corporate purposes…

09 Jan 2020

Mideast Tensions Create Insurance Headache for Tanker Owners

© leodeep / Adobe Stock

Even as the United States and Iran appear to signal a keenness to avoid further conflict, oil and gas shipowners are bracing to pay a price for the war of words that culminated in rocket strikes in Iraq over the last week - higher insurance bills.According to industry sources, payments known as war risk premiums for tankers shuttling through the Strait of Hormuz could rise significantly, adding hundreds of thousands of dollars to shipping costs in some cases that will ultimately…

08 Jan 2020

Awilco LNG Fully Refinances LNG Carriers

Image: Awilco LNG

Norwegian based fully integrated pure play LNG transportation provider Awilco LNG ASA has announced the successful closing and completion of a 10-year sale/leaseback facility with CCB Financial Leasing Co. Ltd. (CCBFL) for the WilForce and the WilPride LNG carriers.Both vessels have been sold for a gross consideration per vessel of USD 175.0 million including non-amortizing and non-interest bearing pre-paid charter hire of USD 43.75 million per vessel.The vessels are chartered…

08 Jan 2020

US to Invest in Marine Highways

Photo: U.S. Transportation Secretary Elaine L. Chao

The US Department of Transportation’s Maritime Administration (MARAD) has will invest $7.5 million in nine Marine Highway projects as it looks to make the movement of cargo and people at sea and on land more efficient.The funding, provided by MARAD’s America’s Marine Highway Program, will go towards enhancing existing services in Florida, South Carolina, Kentucky, Louisiana, Michigan, Oregon, Texas, Virginia, and Washington.“This $7.5 million investment will improve our country’s vital fuel-efficient waterway transportation system…

08 Jan 2020

Mammoet Completes ALE Acquisition

(Photo: ALE)

The Netherlands-based Mammoet confirmed it has completed its acquisition of UK-based rival ALE, creating the industry‚Äôs largest engineered heavy lifting and transport services provider.The businesses will operate as one company under the Mammoet brand with more than 140 offices and branches worldwide, Mammoet said in a press release on Wednesday.An integration plan to be rolled out over the coming months will focus on bringing the two organizations together, Mammoet said. ALE executive board member Michael Birch will join Mammoet's executive management team as chief commercial officer.

07 Jan 2020

Maersk Tankers Launches New Digital Venture

Christian M. Ingerslev, CEO. Photo: Maersk Tankers

Maersk Tankers is launching a new standalone digital business to reduce CO2 emissions and optimize vessels’ earnings across the tramp shippig industry.Soren C. Meyer is moving from Chief Asset Officer to Chief Executive Officer of the new digital venture.The as-yet-unnamed business will develop and sell the software product SimBunker to vessel owners and managers in the tramp shipping industry to help them use their vessels more efficiently. This will reduce CO2 emissions, supporting the shipping industry’s ongoing efforts towards more sustainable development…

07 Jan 2020

Quality is the Buzz Word for ECGS

(L-R): Arne Hubregtse, Roger Strevens, Mike Kaczmarek and Dario Bocchetti. Photos: Clean Shipping Alliance

Those shipowners looking to install marine exhaust gas cleaning systems (EGCS) as way of meeting global sulfur cap requirements are advised to ensure that manufacturers, shipyards and installers are using quality, high-end materials.Based on the collective experience gained from more than 1500 EGCS installations, Clean Shipping Alliance (CSA) 2020 members found the quality of materials and coatings used is the most important factor in optimizing EGCS safety and averting any corrosion…

07 Jan 2020

Britain Issues Shipping Guidance for Middle East

© Peter Cripps / Adobe Stock

British defense minister Ben Wallace said on Tuesday the Department for Transport and his ministry would issue guidance to shipping in the Middle East imminently after the killing of an Iranian military commander heightened tensions."The Department for Transport are reviewing the threat state and advice to red-ensign shipping on a daily basis and, supported by the Ministry of Defense, we will issue guidance imminently," Wallace told parliament. (Reporting by Kylie MacLellan and Elizabeth Piper; editing by Stephen Addison)

07 Jan 2020

USCG Responds to Puerto Rico Earthquake

© Dimo / Adobe Stock

The Coast Guard is responding to a 6.5 magnitude earthquake and seismic activity off the south and southwest coasts of Puerto Rico.All the ports in Puerto Rico and the U.S. Virgin Islands remain open until further notice. Currently, there is no ongoing maritime search and rescue as a result of the registered seismic activity.Coast Guard Sector San Juan and Air Station Borinquen have activated their Incident Management Teams, which remain in close communication with local and federal…

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