Industy Supports EU's Call for Financial Incentive to Enhance Sustainable Recycling
The European Economic and Social Committee (EESC) adopted an own initiative opinion that calls on the European Commission to introduce an incentive that will “eliminate the abuses of irresponsible ship dismantling through a system which creates added value in an end-of-life ship”. SEA Europe, IndustriAll Europe and the NGO Shipbreaking Platform join the EESC in supporting an incentive that will make sure ships are recycled in a safe and environmentally sound manner. “European…
Danish Maritime Authority to Study Unmanned Shipping
Many believe that masterless ships may become reality within a very short period of time. Surely, the technology for unmanned ships is coming, yet it remains unknown exactly where, when and to what extent. Now, the Danish Maritime Authority (DMA), together with the Technical University of Denmark (DTU), is seeking the answers for these unknowns by launching a prestudy on autonomous ships. DMA said the purpose of its cooperation with the DTU is, firstly, to increase the common knowledge base and to set the preliminary frames so that the development and use of unmanned ships can come about in an appropriate manner. Minister for Business and Growth…
Hanjin Talks on Long Beach Sale
Hanjin Shipping Co Ltd is in talks to sell its stake in the Long Beach Terminal in California to Geneva-based Mediterranean Shipping Company S.A.(MSC), reports Reuters. The court overseeing Hanjin's receivership says the company is negotiating with MSC, it's partner in the terminal and which has first right of refusal. Hanjin Shipping owns a 54 percent stake in Total Terminals International LLC, which operates Long Beach Terminal in the U.S. MSC owns the remaining 46 percent. It has appointed an advisor, an overseas firm specializing in shipping industry talks, to help with the negotiations.
Hyundai Mulls Bid for Hanjin Assets, Routes
Hyundai Merchant Marine is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-U.S. route, reports Yonhap. Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route, seen as the most lucrative, and ships that are up for sale. Hanjin, the first major shipping line to be dragged down by global industry overcapacity and low freight rates, put up manpower and logistics systems, five container ships and 10 overseas businesses, for sale last week.
Inmarsat’s LISW17 set stage for Digital future of Maritime
Inmarsat has announced plans in support of its diamond sponsor commitment for London International Shipping Week, 11-15 September 2017 (LISW17) by staging three key events focusing on the maritime industry’s digital future. To coincide with the official launch of LISW17 on October 19th 2016, Inmarsat announced that its separate events would target: shipping’s response to digital disruption; the future of maritime safety; and maritime cyber security myth-busting. All three sessions will be held at Inmarsat Global HQ, London on 12-13 September, 2017.
European Shipping Week Receives EU Patronage
European Shipping Week has been granted the European Parliament’s official patronage by its President, Mr Martin Schultz. Commenting on European Shipping Week, Mr Schultz said his institution appreciated the opportunity for open dialogue between policy makers and representatives of the shipping industry to debate the future of European shipping policy. In a letter to Niels Smedegaard, President of the European Community Shipowners’ Associations (ECSA), Mr Schulz said: “As you are aware…
Shipping Industry United on CO2 at IMO Meeting
In advance of next week’s critical meeting of the Marine Environment Protection Committee (MEPC 70) at the International Maritime Organization (IMO) in London, the global shipping industry has called on IMO Member States to give serious consideration to a joint industry submission regarding the need for further progress on addressing the sector’s CO2 emissions. The joint industry submission (made by BIMCO, International Chamber of Shipping, INTERCARGO, INTERTANKO and World Shipping Council) represents a unified response from the shipping industry to the Paris Agreement on climate change, which entered into force on October 5. The joint industry submission calls on IMO Member States to finalize the adoption of a global CO2 data collection system for international shipping…
Crowley Hits Milestones in Puerto Rico Investment
Highlighting the economic impact under the Jones Act of its $500 million investment in the trade between the U.S. mainland and Puerto Rico, Crowley Maritime Corporation’s liner services group reached new milestones in its construction of two new, Commitment Class ConRo (combination container and Roll/On-Roll/Off) ships that will be powered by liquefied natural gas (LNG), and in its terminal construction in San Juan. The bow of El Coquí was recently set as shipbuilders at VT Halter Marine in Pascagoula…
'We Will Not Stand by and Wait for Global Regulation' -Maersk Line
Shipbreaking has become commercial due to the recycling of steel becoming a global commodity in demand. This means that the dismantling and recycling of a ship are recognized as part of the value of the ship, which has evolved into a massive challenge for the shipping industry. "The choice is clear. One option is to continuing to wait for global agreement – while hundreds of vessels continue to be dismantled on the beaches of India, Bangladesh and Pakistan – or to act now and begin improving the conditions in yards. That is what we have done in Maersk.
Olympic Shipping to Get Finance
The struggling Norwegian supply vessel shipping firm Olympic Shipping said a consortium of investors is willing to invest about 500 million Norwegian crowns ($61.79 million) in a refinancing of the company, reports Reuters. Olympic Shipping is one of the shipping companies that are struggling vigorously. Since summer, Olympic Shipping lived on creditors' grace under a so-called "standstill agreement". This means that the company has released to pay installments on their loans, anticipating that one tries to find a financial solution for the company.
Liberia provides lead with BWMS proposal to IMO
The Liberian Maritime Administration is to introduce a proposal to the meeting of the IMO Marine Environmental Protection Committee (MEPC70) in London on 24 October to allow certain ships additional time beyond 2020 to install adequate ballast water management systems as required under the Ballast Water Management Convention, which comes into force in September 2017. The proposal, says Liberia, would ensure that enough adequate systems and sufficient dockyard space are available.
Panama Accedes to BWM Convention
Panama has become the latest State to accede to the International Convention for the Control and Management of Ships' Ballast Water and Sediments (BWM Convention), bringing the proportion of global shipping tonnage covered by the treaty to 53.28 percent, with 53 Contracting Parties. The BWM Convention will enter into force on September 8, 2017 and will require ships to manage their ballast water which will help prevent the spread of invasive aquatic species, which can cause havoc for local ecosystems, affect biodiversity and lead to substantial economic loss.
Rolls-Royce Wins Deal to Power USN TAO
Rolls-Royce won a contract to supply diesel generators, propellers and shaft lines for the US Navy’s new fleet replenishment oiler ships, the John Lewis Class. Planned to total 17 ships, the new John Lewis class (previously known as TAO – X) will increase the US Navy’s capability to transfer fuel to its surface ships, in operations around the globe. For each ship, Rolls-Royce will supply two Kamewa 150A Controllable Pitch Propellers (CPP), while two Bergen B32:40xL8A generator sets will provide power to satisfy on board energy requirements. “We are extremely proud to have been chosen to supply mission critical power and propulsion equipment to the US Navy’s new fleet of replenishment oilers," said Don Roussinos, Rolls-Royce, President – Naval.
Container Shipping Industry Calls for Climate Action
Members of BSR’s Clean Cargo Working Group (CCWG) have agreed on a climate action statement and call to action for the container shipping sector and its value chain to support private-sector contributions for the global goals on climate change. Today, CCWG includes ocean container shipping lines representing about 85 percent of global volume and more than a dozen key cargo owners. The CCWG member statement reflects an aspiration for container shipping to play its role in limiting global temperature increase to well below 2˚C…
Cosco Raises $1.8bln Capital
China’s COSCO Shipping Development Co Ltd announced a proposed nonpublic issuance of about 3.28 billion shares to specific investors, including its parent company, to raise up to 12 billion yuan ($1.79 billion), reports China Daily. COSCO Shipping Development will become a financing platform of its parent company－China Cosco Shipping Corp, the country's largest shipping company, according to its public statement. The company will use 6 billion yuan and 2.4 billion yuan from the proceeds for the capital injection into two of its subsidiaries…
Nakilat Transitions LNG Fleet from Shell
Nakilat Shipping Qatar Limited (NSQL) signed an agreement with Shell International Trading and Shipping Company Limited (Shell) to begin the planned phased transition of the management of Nakilat’s LNG fleet from Shell to NSQL. Shell has provided a range of shipping services to Nakilat’s LNG fleet since it was established in 2006, including the ship management of 14 Q-Max and 11 Q-Flex LNG carriers and the sharing of Shell’s Shipping & Maritime expertise. The vessels will be transitioned in three phases starting this year and shall be managed by Nakilat’s in-house ship management arm…
LR, SCC Release Low Carbon Pathways 2050 Study
Lloyd’s Register (LR) and Shipping in Changing Climates, a $4m multi-university and cross industry research project funded by EPRSC, have today released Low Carbon Pathways 2050 – a new study that details a number of potential pathways for the shipping industry’s transition to a low carbon future. The report underlines the need for shipping to start its decarbonization imminently – as stringency increases over time, increasingly high-cost mitigation steps are required. The later we leave decarbonization, the more rapid and potentially disruptive it will be for shipping.
Seaborne Trade’s Key Role
Shipping plays a major role in the world’s industries, facilitating the transport of large volumes of raw and processed materials. Clarksons Research takes a look. However, the maritime sector forms a much more important part of the global supply chain for some commodities and industries than others. Comparing world seaborne trade in a range of cargoes to global production helps to make this abundantly clear. Looking at a range of cargo types (see graph), less than 50% of global production of each was shipped by sea in 2015, with a significant share of output consumed domestically.
Denmark Gets QUALSHIP 21 Certificate
Once again, the U.S. Coast Guard has issued Denmark with the well-reputed certificate for United States Coast Guard's Quality Shipping for the 21st Century Program (QUALSHIP 21). The program is intended to secure and improve shipping and has existed since 2001. The program aims at identifying high quality ships and promoting quality shipping in this manner. Denmark has just received a diploma as evidence of the fact that Danish shipping maintains the standards of quality shipping. "Naturally, I am pleased that Danish shipping meets the high standards characteristic of quality shipping.
CMA CGM, ENGIE Ink LNG Deal
CMA CGM and ENGIE signed a Memorandum of Understanding to promote LNG as the marine fuel for tomorrow’s container vessels. Farid Salem, Executive Officer of the CMA CGM Group, and Isabelle Kocher, CEO of ENGIE, signed the agreement today at the Marseille headquarters of CMA CGM. * A study about the development of engineering specifications for a bunkering vessel adapted to LNG powered container ships, so as to improve over time the logistics chain necessary to fueling this type of vessels, thus promoting their deployment.
MSC Takes Trophy for Greenest Ship
Mediterranean Shipping Company (MSC) has been acknowledged for its environmental efforts, picking up the top award for Greenest Ship of the Year at the International Green Shipping Awards. Held this week as part of a summit event in Rotterdam, the awards applaud those in the maritime industry who have introduced successful sustainability practices within their core business. MSC was shortlisted alongside UASC, Marinvest and d’Amico Shipping Group. Chief Sustainable Development Officer Dirk Vande Velde attended the event to collect the award.
Moore Stephens: 4th Straight Year of Operating Costs Decline
International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry fell by an average of 2.4% in 2015. This compares with the 0.8% average fall in costs recorded for 2014, and is the fourth successive overall year-on-year reduction in such costs. All categories of expenditure were down on those for the previous 12-month period. This suggests continued pragmatic management of costs by ship owners and operators, as well as a reduction in active trading for some owners as a result of the prolonged worldwide economic downturn.
ICS Letter to Canadian Transport Minister
ICS Secretary General Peter Hinchliffe reaches out to the Canadian Transport Minister in a letter this week. I am writing on behalf of the International Chamber of Shipping (ICS) which is the principal global trade association for shipowners representing over 80% of the world merchant fleet. ICS membership comprises national shipowners’ associations from 37 nations, and includes the Canadian Shipowners’ Association and the Chamber of Shipping of British Columbia. ICS represents all sectors and trades of the shipping industry…