Pct News

Japan's biggest shipbuilders Imabari Shipbuilding and Japan Marine United (JMU) have formalized their business alliance by agreeing to enter into a capital tie-up amid blockbuster mergers in South Korea and China.According to Jiji Press, with the alliance, the shipbuilders aim to strengthen their international competitiveness at a time when South Korean and Chinese rivals are going through major realignment to grow stronger.Under the basic deal Imabari Shipbuilding plans to buy a nearly 30 pct stake in JMU via a shares purchase. The duo plans to finalize the agreement within the 2019 fiscal year, ending in March 2020.The partners will establish a new company that will design, build and market commercial vessels, including tankers, cargo ships and vehicle carriers.

Greece's Piraeus Port Authority (PPA) announced that the "PIRAEUS I" floating dock is available again for ship repair works."PIRAEUS I floating dock has been delivered for use and is operating again after scheduled maintenance works," said an announcement from PPA.PIRAEUS I is 202 m. long, with inner width 31 meters, has lifting capacity of 15,000 tons and can serve ships with capacity of 40,000 tons.During the first nine months of 2019, the ship repair activity at the port of Piraeus is showing an increase, despite the temporary suspension of PIRAEUS I floating dock operations, as the ships in docks increased by + 11% and the ships under repair in Ship Repair Zone increased by 7.4% compared to the same period of 2018.The Management of PPA S.A.

AW-Energy Oy, a Finnish wave energy technology developer, received an “approval” for AW-Energy’s patent application from the United States Patent and Trademark Office (USPTO).The patent [PCT/050485] provides AW-Energy with broad IP protection of its latest generation WaveRoller device including a range of operating improvements made to the device’s system and infrastructure, particularly on fail safe operating improvements to protect against extreme weather conditions.“This is a significant and exciting decision by the USPTO…

U.S.-flag Great Lakes freighters (lakers) moved 9.9 million tons of cargo in June, an increase of 2.3 percent from a year ago. The June float was, however, a near mirror image of the month’s 5-year average.Iron ore cargos for steel production totaled 5.1 million tons, an increase of 10.5 percent from 2018, but a 7.6 percent decrease from June’s 5-year average. Coal loads totaled 1.3 million tons, a decrease of 5.2 percent from 2018 and 24.2 percent from the month’s 5-year average.Year-to-date U.S.-flag cargo movement stands at 32.3 million tons…

Engineered Marine Fuels formulated to not only comply, but also perform, ahead of 2020 sulphur cap.EMF.5 fuels range ensures compliance without compromising on quality and performanceThe fuels have passed stringent fit-for-use assessmentsCombined fuels and lubricants offer can help customers reduce operating costsExxonMobil has introduced EMF.5, its range of Engineered Marine Fuels developed ahead of the International Maritime Organization’s (IMO) global 0.50 percent sulphur cap.

The U.S. Coast Guard’s 2018 Domestic Annual Report on Flag State Control.The U.S. Coast Guard’s 2018 Domestic Annual Report contains statistics regarding inspections and enforcement of regulations on U.S. flagged vessels. The report includes deficiency and detention rates for each type of inspected vessel, as well as performance metrics for Recognized Organizations that perform work on the Coast Guard’s behalf. The data contained in this report was compiled by the Office of Commercial Vessel Compliance (CG-CVC) using information from the Coast Guard’s Marine Information Safety and Law Enforcement (MISLE) database system.For the first time, the coast Guard is presenting information reflecting the entire U.S.

DM Shipping (DMS), joint venture company between Mitsubishi Group (40 pct) and d'Amico Tankers (51 pct), signed a memorandum of agreement for the sale of the MT High Efficiency, a 46,547 dwt MR product tanker vessel, built in 2009 by Nakai Zosen Corporation, Japan for a consideration of US$ 16.1 million.d’Amico International Shipping (DIS), an international marine transportation company operating in the product tanker market, said in a press release that this transaction allows DM Shipping to generate around US$ 13.2 million in cash, net of commissions and reimbursement of the Vessel’s existing loan.As of today, DIS’ fleet comprises 49.5 double-hulled product tankers (MR, Handysize and LR1, of which 23 owned, 17.5 chartered-in and 9 bareboat chartered-in.

The International Maritime Organization (IMO)'s Maritime Safety Committee (MSC) has approved measures to improve the safety for seafarers when mooring ships.Danish Maritime Authority (DMA) said in a press release that between 5 and 14 June, MSC met in London to discuss current issues related to the safety and security of global shipping.Part of the agenda was dedicated to the draft measures for safe mooring operations as prepared by the SDC sub-committee based on proposals originally submitted by Denmark.The measures approved by the Committee entails an amended SOLAS regulation and guidelines intended to improve the current situation…

Hapag-Lloyd is optimistic about the year ahead, despite global trade tensions, the German container shipping company's chief executive said on Thursday after a first quarter earnings rise."Despite all the uncertainty, we see a somewhat stable development," Rolf Habben Jansen told Reuters, adding that trade wars have so far had a limited effect on Hapag Lloyd's business.U.S. President Donald Trump said on Wednesday that China had broken the terms of a trade deal, adding he would…

Even as the minimum Random Drug Testing Rate is raised to 50 PCT, the Coast Guard wants its mission to consist of 90% outreach and just 10% enforcement. Really.The domestic waterfront got some less-than-happy news when the U.S. Coast Guard announced that the calendar year 2019 minimum random drug testing rate had been set at 50 percent of covered crewmembers. It’s safe to say that nobody is happy about it, much less the Coast Guard itself.In truth, the Coast Guard had little to say about the matter. 46 CFR part 16.230(f)(2) requires the Commandant to set the minimum random drug testing rate at 50 percent when the positivity rate for drug use is greater than one percent.

Sea Port of Saint-Petersburg (CTSP), a company of UCL Port, stevedoring division of the international transportation group UCL Holding, handled 7.7 million tonnes of cargo showing a 12-pct increase versus the result of 2017.The increase of cargo traffic is attributed the development of yards dedicated for transshipment of cast iron, metal scrap, ore, mineral fertilizers and containers, said a release from the operator providing dry cargo transshipment in Saint-Petersburg port and the North-West of Russia.Total transshipment of general cargo via Sp SPb grew by 5% to 6.67 million tonnes including 3.74 million tonnes of ferrous metal. The growth of ferrous metal transshipment was driven by cast iron…

Resulting entity would control about 20 pct of global market; Daewoo shares rally 22 pct; Hyundai Heavy shares fall.Hyundai Heavy Industries, the world's biggest shipbuilding group, has announced a share swap deal worth 2.1 trillion won ($1.98 billion) to take over second-ranked Daewoo and create a global heavyweight controlling over 20 percent of the market.The move comes as the worldwide shipbuilding sector recovers from a global economic downturn that led to massive losses…

There is a 65 percent chance of an El Niño weather pattern emerging during the northern hemisphere spring this year, a U.S. government weather forecaster said on Thursday."However, given the timing and that a weak event is favored, significant global impacts are not anticipated during the remainder of winter, even if conditions were to form," the National Weather Service's Climate Prediction Center (CPC) added in its monthly forecast.Last month, the weather forecaster pegged the chances of the El Niño emerging at 60 percent during spring 2019.The last El Niño, a warming of ocean surface temperatures in the eastern and central Pacific that typically occurs every few years…

Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 51.2 percent in 2018 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Thursday.Some crude oil was re-routed to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline Consortium last year, the official added, while some fuel oil was sent to the port of Taman in Russia and Georgia's other Black Sea port of Kulevi.The fall in shipments is partly because Azerbaijan prefers to send its oil through the Baku-Tbilisi-Ceyhan pipeline or via its own terminal in Kulevi, rather than from

The Coast Guard announced in the Federal Register that the calendar year 2019 minimum random drug testing rate is set at 50 percent of covered crewmembers. This rate is effective January 1, 2019 through December 31, 2019.The Coast Guard has increased the minimum random drug testing rate for 2019 as a result of Drug and Alcohol Management Information System (MIS) data for the most recent reporting year indicating that the positive rate is greater than one percent. 46 CFR part 16.230(f)(2)…

Shares of ship builder Austal Ltd rise as much as 4.6 pct to A$1.940.Austal said that it has a news contract from the U.S. Department of Defense to build two more Littoral Combat Ships (LCS), bringing the total new LCS orders booked in 2018 CY to four ships. Reportedly, the new award is under the congressional cost cap of $584 mlnSeparately, the Commonwealth Bank of Australia will fund Republic of Trinidad & Tobago with a loan of A$80 mln ($57.40 mln) to assist it to purchase…

Shares of Daewoo Shipbuilding & Marine Engineering Co Ltd rise as much as 3.8 pct.The South Korean shipbuilder says it has received a new order worth 444 bln won ($397.28 mln) from the country's procurement agency, Defence Acquisition Program Administration (DAPA), to build one ship.Separately, BlackRock Inc increased its stake in Daewoo Shipbuilding to 5.57 pct from 4.42 pct, according to co's regulatory filing on Thursday. The stake purchase by the U.S. investment firm underlines its positive outlook for the shipbuilding industry, says Um Kyung-a, an analyst with Shinyoung Securities.Reporting by Heekyong Yang

Shares of U.S.-listed shippers rose after dry bulk shipper Globus Maritime Ltd posted its first Q3 profit per share in four years. GLBS jumped 10.20 pct, Pyxis Tankers Inc soared 39 pct, nd EuroDry Ltd up 13.2 pct. GLBS says Q3 profit was helped by reducing operational costs by ~25 pct from the last quarter which did not hamper operations, and/or utilization of the fleet.GLBS also posted higher Q3 revenue helped in part by strong demand for dry bulk vessels.

AP Moeller Maersk third-quarter results are due on Wednesday, November 14th. The Q3 operating profit is forecast to be $371 million.A poll of forecasts for the Danish shipping group is emerging. Of the eight analysts who disclosed their recommendation on the AP MOELLERMAERSK stock, one answered Positive, six Neutral and one Negative. The following brokerages and investment banks participated in the poll:Handelsbanken Capital: UnderweightSydbank: HoldEquita SIM: HoldDrewry: HoldClarksons…

Shares of South Korean shipbuilding companies jump, boosted by the country's tally of orders in January to October as well as a positive outlook for the sector.outh Korea's volume of orders in Jan-Oct ranked the highest, with the country securing about 45 pct of total orders, according to industry sources citing the lastest data from Clarksons Research.South Korea is expected to remain the top ranked for ship orders this year as it exceeds No. 2 China at 31 pct, according to the report.

Representing the spirit of DP World’s Director of Global Operations, Patrick Bol along with his team aim to cross the Atlantic Ocean in 27 days or less to collect samples of water and draw attention to the plastic pollution problem.The global port operator said in a press release that Patrick Bol along with his team of rowers Lewis Knollman, Andrew Ruinoff, Matt Wilds aim to cross the Atlantic Ocean in 27 days or less to collect samples of water and draw attention to the plastic pollution problem – smashing world records along the way.World Record attempt: To safely row across the Atlantic Ocean in a multihull rowing boat whilst breaking 4 world records on the Trade Winds 2 route: The first multihill to row across TW2…

Iron ore shipments to China from Australia's Port Hedland terminal rose nearly 10 percent in August from a month earlier, port data released on Monday showed.Iron ore shipments to China from the world's biggest iron ore port totalled 35.5 million tonnes in August, up from July's 32.4 million tonnes, according to the Pilbara Ports Authority.Total August iron ore shipments from the port totalled 42.4 million tonnes, higher than the 40.7 million tonnes shipped a month prior, but 1 pct lower than August 2017.Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton , Fort

China's COSCO Shipping Holdings Co Ltd on Thursday said first-half profits fell 97.8 percent as it grappled with higher costs and a slide in freight rates.China's largest shipping group, which has bought a Hong Kong peer to become the world's third-largest container liner, said January-June net profit was 40.8 million yuan ($6 million), down from 1.86 billion yuan in the same period last year.After a prolonged slump, the global container shipping industry entered a period of recovery last year. However, COSCO said the delivery of a number of new large ships had worsened the industry's current oversupply of vessels, pressuring rates.In July, a key U.S.