India Halts Iran oil Imports Under U.S. Pressure
Oil imports from Iran at 220,000 bpd in year to March 31. U.S. pressured India not to raise annual Iran oil imports. India halted oil imports from Iran for the first…
EU to Ban Scrapping Ships on South Asian Beaches
Over 60 pct of ships scrapped on Asian beaches in 2014. Practice poses human risk, environmental dangers. New EU rules set high standards, but with loopholes. European…
Hurricane-Strength Winds Batter European Ports, Traffic
Hurricane-force winds lashed parts of northern Europe on Tuesday, including Germany and the Netherlands, causing flights to be cancelled, snarling some train services and hitting port traffic.
Illegal Fishing Threatens to Revive Somali Piracy
Somali officials say foreign ships plundering fish stocks; Somali piracy greatly reduced due to security measures. A rise in illegal fishing off Somalia could spark a resurgence in piracy…
BP Terminates GoM Rig Contracts
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.
USCG Rescues 9 from Canadian Tall Ship
Coast Guard search and rescue crews from Station Gloucester, Air Station Cape Cod and the Coast Guard Cutter Ocracoke rescued nine crewmembers from the Canadian tall ship Liana's Ransom 58 miles east of Gloucester, Monday. Watchstanders at the Sector Boston Command Center received notification at 12:35 a.m. that the vessel's engines were disabled and its sails were wrapped around the mast. As the weather deteriorated…
MOL to Name New Chairman, President
Mitsui O.S.K. Lines, Ltd. today announced the appointment of a new chairman and president. Current President and Representative Director Koichi Muto will assume the position of Representative Director and Chairman, and current Director and Senior Managing Executive Officer Junichiro Ikeda will become president. The appointments are subject to approval by the Board of Directors meeting following the Annual General Meeting of Shareholders, which will be held on June 23, 2015.
Cargotec Solely owns China Crane
Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own China Crane Investment Holdings Limited (China Crane), an investment company, which has owned 18.75% of the shares in Jiangsu Rainbow Heavy Industries Co., Ltd (RHI) as of 18 March 2015. Carlyle has decided to sell their portion of China Crane's stake in RHI and hence exit RHI, and the related transactions have been executed.
Hamburg Süd Completes CCNI Takeover
Effective 27 March 2015, Hamburg Süd has taken over the container liner activities of Compañía Chilena de Navegación Interoceánica S.A. (CCNI) including the related general agency functions of Agunsa Agencias Universales S.A. (Agunsa) with headquarters in Valparaiso and Santiago de Chile. The closing took place at the shipping line’s headquarters in the presence of management representatives from CCNI and Agunsa.
MacGregor Appoints Høyesen as VP
MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus. Offshore Mooring and Loading Division drives the development of Systems and Equipment for Offshore Floating Units. MacGregor appoints Høye G. Høyesen (49) as Vice President, Offshore Mooring and Loading Division starting as 1st of April 2015. Mr. Høyesen joins MacGregor from APL Norway/NOV, where he has held the position of Vice President, Business Development.
MSC Acquires Second Boxship
MSC Oliver was inaugurated at the DSME shipyard in Busan, South Korea, just two months after the delivery of MSC OSCAR. This week, it was the turn of Oscar’s cousin, Oliver, to break the traditional bottle of champagne against the ship, in the presence of his father Pierfrancesco Vago, Executive Chairman of MSC Cruises, representing both the Aponte family and MSC Group. MSC Oliver is the second of a total of twenty mega-vessels which are scheduled for delivery by the end of the year.
USCG Approves KR BWMS Lab
Korean Register (KR) - an IACS member classification society – announces that it has been accepted by the United States Coast Guard (USCG) as an Independent Laboratory (IL) to undertake tests…
SCI takes Delivery of VLCC "Desh Vibhor"
The Shipping Corporation of India Ltd. (SCI) accepted delivery of a Very Large Crude Oil Carrier (VLCC) on 28 March, 2015. The vessel has been named “Desh Vibhor”. The vessel was ordered with Jiangsu Rongsheng Heavy Industries Co. Ltd., China during November 2010. The vessel has a gross tonnage of 165,319 tonnes and deadweight of 316,634 tonnes at scantling draft. The vessel has been classed with IRS and LRS and has been built to comply with latest international regulations.
COSCO China's Piraeus Bid Back on Track
China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course on its opposition to port privatization. COSCO was one of five industry players, including the United States' largest port management company Ports America Inc, to show an interest in a 67 percent stake in Piraeus Port Authority in the second half of 2014.
India, Japan Reaffirm Strong Maritime Ties
India and Japan have discussed a specialized 24-nation maritime construct to enable real-time sharing of data of all shipping including merchant and naval warships, operating in the Indian Ocean, parts of the Pacific Ocean and disputed waters of the South China Sea. Indian Defence minister Manohar Parrikar called on Japanese Prime Minister Shinzo Abe in Tokyo on Monday, his first overseas trip since being appointed in November.
CMA CGM profits up 43%
French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced costs. Consolidated operating revenue for the company increased by 5.3% in 2014, compared with the previous year, to $16.7bn on an 8.1% volume increase to 12.2m teu, which CMA CGM said was mainly attributable to east-west gains.
A Better Charter Market in 2016?
Shipowners that charter out container ships to liner operators are hopeful that 2016 will bring increased demand and higher charter rates for containerships, JoC reports. Sentiment is changing in container shipping where, for the first time in five years, there are signs of a market turning to the benefit of owners. Indicating hopes that a broad-based recovery in the boxship charter market is well under way, the charter rates for medium-sized container vessels continued to surge last week.
Ship Ownership is a Closely Held Market
Even though shipping is a global industry, ownership is fairly well concentrated in a relatively small number of major centres, says a research from Clarksons. The 20 most popular city locations for shipowners graph is headed, perhaps unsurprisingly, by Athens, with a fleet of 4,043 vessels of 161.5m GT. This is equivalent to 14%, or one seventh, of the current world fleet. After Athens comes Tokyo, with 98.3m GT, and Hamburg with 70.5m GT. Singapore and Hong Kong complete the top 5.
ABG Ties Up with GTT for LNG Technology
ABG Shipyard Ltd has tied up with Gaztransport and Technigaz (GTT) of France for the maritime transportation and storage of liquefied natural gas (LNG), reports Livemint. With this pact, ABG has become the third Indian company to secure technology collaboration to build LNG carriers. The Shipyard is preparing for a tender set to be issued by GAIL (India) Ltd for hiring nine new LNG ships that will haul gas from the US from December 2017.
Great Lakes Losing Ice
The Great Lakes Environmental Research Laboratory reports ice cover for all of the Great Lakes combined at around 52%, thanks to milder temperatures and gusty winds over the past several weeks. On March 1, nearly 89 percent of the Great Lakes were covered in ice. In just four weeks, the ice coverage on the Great Lakes has decreased almost in half. Winter is fading in the Northland, as it always does, but markedly faster than the past two years.