Henriksen Unveils Strongest SOLAS Boat Lifting Hook
H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release hook has been developed principally for use with heavy workboats while a smaller hook has received SOLAS certification for 8-tonnes, making it ideal for the deployment of emergency rescue boats and heavy duty rigid inflatable boats. The new…
S&P Raises Steamship Mutual outlook to Positive
Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. • the rating could be revised to A if a longer track record of extremely strong capital and stable earnings is demonstrated. “The Club’s underwriting performance and capital strength compare very favourably with the highest rated Clubs in the International Group. The Board is committed to maintaining this strong position which gives security to the Club’s Members.
SSA Welcomes Decision To Extend BEO
The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption for Liner Shipping Agreements) Order (BEO) for another five years until 31 December 2020. This is in line with a recommendation made to the Ministry by the Competition Commission of Singapore (CCS). The BEO, which was first issued in July 2006…
Norwegian Escape with Biggest Scrubbers sets Sail
On a sunny October day in the German harbor-town of Hamburg, M/V Norwegian Escape, a brand new cruise ship, sets sail for the first time. On board are five Yara SOx scrubbers – one for each engine. The scrubbers ensure that the cruise is not just pleasurable, but also environmental friendly. Yara Marine Technologies has developed a simple and cost-efficient solution to fight air pollution at sea: the inline scrubber.
Evergreen Line Orders Ten 2,800 teu Ships
Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation. The deal between the companies is to buy 10 new 2800 TEU container vessels. The Contract value is $390mln. The first ship is scheduled to be delivered during the first half of 2018 with the final ship in the series is due by the first half of 2019.
ZIM Integrated Shipping Remains Profitable
Despite challenging market environment with freight rates reaching historic lows in several key trades, ZIM Integrated Shipping Services continues to outperform the average adjusted EBIT margins in the Industry. ZIM Integrated Shipping , one of the world’s leading container shipping carriers focused on attractive trades in growing markets, today announced financial results for the three and nine month periods ended September 30, 2015.
Controversial Nicaragua Canal Project Postponed
China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016. HKND has obtained approval for environmental studies of the canal earlier this month. But on Wednesday, a company statement said that the construction will start toward the end of 2016. While the Hong Kong-based developer did not give a reason for the delay…
Pressure on Container Market Akin to 2008 Recession: UASC
A marked drop in Asian imports to Europe, made worse by a strong dollar, has exacerbated the pressure on shipping lines already struggling with massive over capacity, Arabian Supply Chain quotes United Arab Shipping Company (UASC) as saying. Jorn Hinge, president and chief executive of UASC, speaking to Reuters, said that the container market has been hit by a slowdown in demand for goods from Asia, especially China. That has pushed competition into the South American market.
Dan-Bunkering Appoints Bara as Bunker Trader
Dan-Bunkering (Middle East) DMCC is pleased to announce that Lamin Bara has joined the office in Dubai as Bunker Trader as per 1 November 2015. Lamin was born and raised in a multilingual family in Denmark and has been working in the transportation/logistics industry for the past many years.
Moore Stephens Highlights Potential Tax Issues for Shipping
As part of the Government’s drive to encourage voluntary compliance with the tax rules, it will legislate to introduce a new requirement that large businesses publish their tax strategies as they relate to or affect UK taxation, as well as a special measures regime to tackle businesses that persistently engage in aggressive tax planning and a framework for co-operative compliance. The Government has…
SSAB, Aspo ESL Shipping Pact On Sea Transport
The global steel company SSAB and Aspo Group’s ESL Shipping Ltd have signed a long-term frame agreement covering sea freight for SSAB’s inbound raw material sea transport within the Baltic Sea and from the North Sea. The purpose of the agreement is to secure deliveries of raw materials, enable mutual, long-term gains in efficiency and to reduce overall logistics costs. This will simultaneously make raw material logistics as sustainable and environmentally aware as possible.
ESL Shipping to Enter the Renewable Energy Market
ESL Shipping and AB Fortum Värme have signed an agreement for biofuel transport. The agreement provides ESL Shipping with access to the renewable fuels transport market. The company's transport operations to the new Värtan Energy Port in Stockholm will commence at the end of this year. "Fortum will take an important step when its Stockholm power plant switches to more sustainable energy generation and the biofuel-fired CHP plant is completed.
Evoqua, Drew Marine Ink BWMS Deal
Evoqua Water Technologies and maritime solutions and logistics expert, Drew Marine, have announced a partnership to provide a full compliance package for ballast water management. The collaboration brings together Evoqua’s technology and Drew Marine’s engineering, logistics and service expertise to offer ship owners and operators expert assistance worldwide. The partnership will centre around Evoqua’s industry-leading SeaCURE Ballast Water Management System (BWMS).
Need to Monitory Coal from Indonesia - UK P&I
There are various hazards associated with the trade in coal. UK P&I Club’s Loss Prevention Team highlights the risks involved, and advises on the relevant actions to take in order to reduce accidents. Self-heating incidents involving coal cargoes loaded at Indonesian ports have become increasingly frequent in recent years. The problem appears to be primarily related to the nature of the coals, and may be exacerbated by the way they are handled prior to and during loading.
Raytheon Anschütz Succeeds in SYNTACS SAT
Raytheon Anschütz, a leading integrator of naval integrated bridge systems, has successfully completed the Sea Acceptance Test (SAT) for the Synapsis Tactical Command System (SYNTACS) aboard a series of new Interceptors and Patrol Boats built at CMN’s Cherbourg shipyard in France. CMN is building a series of new HSI32 Interceptor vessels and Ocean Eagle 43 Patrol Boats. Raytheon Anschütz was selected as system integrator and supplier of their SYNTACS solution for the new vessels.
Escort Tug Launched for Bay-Houston Towing
Eastern Shipbuilding Group, Inc. announced the launch of the Escort Tug H. DOUGLAS M (Hull 236) for Bay-Houston Towing Company on November 17, 2015. This series of Robert Allan, LTD. (RAL) designed Z-Tech 2400 Class Terminal & Escort Tugs is currently under construction at Eastern’s Nelson Street facility. The H. DOUGLAS M is scheduled to deliver in early 2016. The launch ceremony was held at Eastern’s Nelson Street facility and hosted by Joey D’Isernia…