China Cosco's Profit Up 54%
The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.5 million Yuan ($58.37 million), on government subsidies for scrapping old tonnage. Excluding one-off gains, its loss narrowed 81% y/y to 1.4 billion Yuan due to slump in fuel costs and contraction of its chartered-in fleet, according to the company's stock filing on 27 March.
GAIL Seeks 7 LNG Cargoes
GAIL (India) will buy seven liquefied natural gas (LNG) cargoes for delivery from October 2015 until December 2016, according to the tender document obtained by Reuters. According to preferences and vessel sizes, the deliveries will be split between Dabhol, Dahej and Hazira import terminals. The delivery windows are October-November 15, January-February 16, March-April 16, May-June 16, July-August 16, October 16 and November-December 16.
Taiwan Boosts Yacht Export
Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats, reports Chinese newspaper Commercial Times. The export value of Taiwan-made yachts hit US$172 million, up 13.16% year-on-year and marking the highest growth figure in five years. This is the first two-digit figure since the aftermath of…
Damen joins World Ocean Council
Dutch-based Damen Shipyards Group has become the latest member of the World Ocean Council (WOC). The global shipbuilder headquartered in the Netherlands is the first European shipbuilder to join the WOC, the international business leadership alliance on ocean sustainability, science and stewardship. Damen works to reduce environmental impacts of shipping, by focusing on optimizing ship design and working on product innovations.
Carnival to Add Nine Ships to Cruise Fleet
Carnival Corporation & plc today signed two strategic memorandums of agreement that will add a total of nine new cruise ships to the company’s fleet over a four-year period from 2019-2022. The shipbuilding agreements, which include options for additional ship builds in the coming years, are subject to several conditions, including satisfactory financing. Italian shipbuilder Fincantieri S.p.A and German…
Coast Guard Academy Cadet to Receive Fulbright Scholarship
Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies in Finland during the 2015-2016 academic year and the 2016-2017 academic year. Horvath, 21, will pursue a master’s degree at the Lappeenranta University of Technology in Lappeenranta, Finland. The mechanical engineering major plans to conduct a research project on methods for energy storage.
Ecochlor Presents BWTS Case Study at CMA
Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered the retrofit of Ecochlor’s ballast water treatment system (BWTS) aboard the 2007-built ro/ro car carrier vessel M/V Green Bay following an order from International Shipholding Corporation (ISH) in 2013. ISH ordered Ecochlor systems for seven of its ships…
Greek Ferry Runs Aground in the Aegean
A Greek ferry ran aground on the Aegean island of Kassos overnight, the AP is reporting. None of the 227 passengers and 55 crew were injured and a tug boat was sent…
Golden Ocean and Knightsbridge Complete Merger
The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders. The new company, which will be called Golden Ocean Group Limited, will be one of the largest dry bulk shippers in the world, operating a fleet of 72 vessels, 34 of which are new buildings. The merger was first announced in October and will allow John Fredriksen…
SAL Heavy Lift Performs Offshore Windfarm Work
SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone. Once again, MV Lone served as project platform for SAL Heavy Lift customer Bilfinger. The full test campaign comprised two phases with the tests being performed at three locations. During the first phase in November 2014 three sets of three piles each were driven at designated locations to required depths.
Panama Canal Sets Sight on Another Expansion
As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion that would allow it to handle the world's biggest ships. Workers are now installing giant, 22-story lock gates to accommodate larger "Post-Panamax" ships through the Canal, one of the world's busiest maritime routes. The project involves building a third set of locks on the Canal.
US Will Work to Ensure Bab-el-Mandeb Strait Remains Open
The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen…
Baltic Sea Freight Index Flat on Muted Vessel Activity
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.
Long Beach, LA Collaborate to Improve Cargo Flow
Executives from the ports of Long Beach and Los Angeles held a kickoff meeting earlier this week to begin working together to focus on cargo conveyance strategies that will enhance velocity and efficiency throughout their gateway’s supply chain. In their first meeting under the formal discussion agreement recently approved by the Federal Maritime Commission, ranking staff of the two San Pedro Bay ports…
Australian Reef Pilots Under New Ownership
Australian marine pilotage company Australian Reef Pilots (ARP) has been bought by a consortium of its employees. ARP, which services shipping through the Great Barrier Reef, has been sold by the private Brisbane-based company Torres Industries to a group of ARP executives and reef pilots, making for a very ‘hands on’ team. ARP CEO Simon Meyjes has led the buyout and said it would be business as usual during the transition.
Stolt-Nielsen Completes Bond Issues
Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.1 percent.
LOC Group Announces Two Appointments
Global marine engineering consultancy LOC Group (London Offshore Consultants) announced appointments in two new positions; John Quarrington has joined the company…
Kondracki Joins TOTE Services Leadership Team
TOTE Services has promoted Michael J. (Mick) Kondracki to director of labor relations and risk management effective March 16, 2015, as announced by the company’s president, Phil Greene, Jr.
Liebherr Opens African Maritime Hub
Liebherr Maritime Cranes celebrated the grand opening of the new sales and service center in Durban, South Africa. The new African maritime hub was opened by a number of guests from the local industry and Liebherr representatives. Mainly as a result of the close cooperation with Transnet over the past few years, Liebherr-Africa (LAF) has decided to extend its activities and to establish a specialized maritime hub in Durban.
Hapag-Lloyd CFO Ganz Steps Down
Peter Ganz will step down from his position as company CFO effective April 1, 2015, also leaving the company on the same day, as announced during today’s meeting of Hapag-Lloyd’s Supervisory Board. The Supervisory Board has given its approval. The change on the Executive Board comes following an agreement between shareholders stipulating that CSAV, as the new largest shareholder in Hapag-Lloyd, has the right to nominate an individual of its choice to assume the position of CFO.