Global Traffic News

Wärtsilä Voyage has signed a Memorandum of Understanding (MoU) with the Maritime and Port Authority of Singapore (MPA) to further strengthen their collaboration in smart port innovation and digitalization. The main objectives of this strategic partnership are to initiate, develop and promote innovative solutions that accelerate digitalization; foster interoperability in e-navigation and ship-to-shore secure data communications to enable port-to-port optimization and establish reliable…

Without action from the shipping sector to decarbonize, the sector will be responsible for approximately 17% of global CO2 emissions by 2050. And given the scale of the change required, we must address this now. Across the industry, many are wrestling with what steps to take to drive their decarbonization journeys.Last year, Shell and Deloitte published a joint report, Decarbonizing Shipping: All Hands on Deck, assessing the key factors affecting decarbonization of the shipping sector.

Korean Telecommunications provider KT has been named the key operator of the world's largest submarine network cable, New Cross Pacific (NCP). Korea's dominant fixed-line operator said it will run a network center to control the submarine cable which helps connect network systems in Asia-Pacific countries to the North American region. The company said it will start operation of the 14,000-kilometer-long NCP cable in December 2017. The purpose of the NCP Project is to form a submarine cable network with a data processing capacity of about 80 Tbps across the Pacific Ocean. "KT will play a central role as a global traffic hub with a network operation center (NOC) in Busan," Korea Times quoted Oh Seong-mok, executive vice president of KT's network division, as saying.

Signet Maritime Corporation announced the successful completion of transportation, delivery and loadout of two mat supported Jackup rigs. Signet provided full turnkey operations for the movement of the Rubicone H-191 from Sabine, Texas to Kiewit Offshore Services, Ingleside, Texas. The MV Signet Enterprise with 4,400BHP, 62.6MT Bollard pull ahead, 53.5MT bollard pull astern and the MV Signet Intrepid with 4,400BHP, 60.3MT bollard pull ahead, 54.7MT bollard pull astern, were the primary towing tugs for the project. The ocean tow was accomplished flawlessly in four days.

Shares of Neptune Orient Lines Ltd (NOL), the world's sixth largest container shipper, sank as much as 2.5 percent on Thursday morning to their lowest level since March 2000 on freight rate concerns. By the midday break, NOL had crawled back to S$1.20, down one cent, from S$1.18 in moderate trade of 2.78 million shares. Analysts said there were increased worries for its earnings due to prolonged pressure in freight rates with no short-term recovery in sight for cargo demand due to slowing economies. "People are concerned over pressures in freight rates," said Albert Goh, an analyst at Kim Eng Securities. NOL scrapped a planned share flotation and U.S. listing of its oil transportation unit last month.