Baltic Sea Freight Index Flat
Press release - The Baltic Exchange's main sea freight index tracking rates for ships carrying dry bulk commodities was unchanged on Tuesday, as rising demand for…
Brazil Scraps Para Port Auction, to Offer Three Santos Areas
Brazil canceled an auction to lease a port terminal area in the northern state of Para due to lack of interest but will auction three other areas in its largest port of Santos on Wednesday…
LR Establishes New Notion for LFPF
Lloyd’s Register (LR) has developed a new notation for low-flashpoint fuels (LFPF), allowing owners and shipyards to demonstrate that their design and construction…
Marlink Upgrades Maridive OSVs to VSAT Broadband
Egypt headquartered Maridive Group, an international offshore marine and oil support services provider, has chosen to migrate 24 of its Offshore Support Vessels…
Ecoslops Announces First Sale of Light Bitumen
Ecoslops, the first company to develop technology to produce recycled marine fuels from marine oil residues (slops), has announced its first sale of light bitumen.
Fast Crew Supplier for P&O Repasa
P&O Repasa, a new company formed last year by the acquisition of the majority of the shares in Spanish towage firm Repasa by P&O Maritime, has taken delivery of one Damen Fast Crew Supplier 5009. The vessel will be operated from Malabo on Bioko Island, Equatorial Guinea. The Red Eagle will ferry personnel and equipment, and supply drinking water and fuel, to offshore rigs and platforms. Built for stock at Damen’s partner Song Thu Shipyard in Vietnam…
INTERSCHALT, Müller+Blanck Reach Merger Deal
INTERSCHALT maritime systems AG, the provider of maritime software for cargo and fleet management, and Müller+Blanck Software GmbH, announce the conclusion of a…
JHW Engineering, Evergas Ink Tanker Deal
Evergas and JHW Engineering & Contracting have entered into an agreement for the construction of four option two INEOS MAX 32,000M3 liquefied ethane/ethylene carriers. The INEOS MAX 32,000M3 liquefied ethane/ethylene carriers are expected to carry a range of innovative features specifically tailored for safe, environmentally friendly and efficient operations. The cargo capacity has been increased more than 10% by optimizing the design of cargo tanks as well as layout of ship…
DryShips Nets $ 820 Mln 3Q Loss
and operating results for the third quarter ended September 30, 2015. For the third quarter of 2015, the Company reported a net loss of $820.0 million, or $1.23 basic and diluted loss per share. Included in the third quarter 2015 results are impairment charges and loss on sales on the entire drybulk fleet, of $797.5 million, or $1.20 per share. Excluding these impairment charges and losses, the Company’s net results would have amounted to a net loss of $22.5 million, or $0.03 per share.
Bright future for Bunkering at Indian Ports
Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers, etc., were issues now in the process of getting resolved and the government was actively engaged in putting necessary infrastructure in place. With the evolving…
Vitol Buys Stake in Sargeant Marine
The Vitol Group and Sargeant Marine, an asphalt trading, storage and transportation business, announced that Vitol will acquire a 50 percent interest in Sargeant Marine for an undisclosed sum.
Marcus Hook Range Rock Blasting
The Coast Guard will be enforcing a safety zone within the waters of the Delaware River, from Marcus Hood, Pennsylvania, north to Eddystone, Pennsylvania until March 15, 2016. The safety zone will cover all navigable waters in the Delaware River within 500 yards of vessels and machinery conducting rock blasting, dredging, and rock removal operations. This zone is intended to protect personnel, vessels and the marine environment in these navigable waters while operations are being conducted.
More "Green" Ships Call at Antwerp Port
The number of environment-friendly seagoing ships calling at the port of Antwerp is increasing year by year, according to the results of the Environment Ship Index (ESI) introduced in Antwerp in 2011. This index enables ports to grant a discount on port dues for ships that make a significant contribution to reducing emissions of pollutants such as NOx and SOx. In 2012 there were 462 calls in Antwerp by ships that qualified for the discount.
Temasek to Sell Entire NOL Stake for $1.61 Billion
Singapore sovereign wealth fund Temasek Holdings has agreed to sell its entire 67 percent stake in Neptune Orient Lines (NOL) to France’s CMA CGM, the world’s third-largest container shipper. CMA CGM will pay S$1.30 a share in cash for the 2.6 billion shares in NOL, 6 per cent above the last closing price on the Singapore Exchange, and a 33 per cent premium to the three-month volume-weighted average price to July 16. Temasek has accepted the offer.
CMES Confirms Order for 10 VLCCs
The board members of China Merchants Energy Shipping (CMES) has approved of a plan to order an additional 10 eco-friendly VLCCs. These vessels will be operated by CMES’ Hong Kong-based subsidiary, China VLCC Company Limited, a tanker JV between CMES and Sinotrans & CSC Group. China VLCC was set up in early September, will be in charge of vessel operation. CMES added that it would disclose more details…
Duesseldorf Express Delays
Hapag-Lloyd informs about the current delay of its Mediterranean Pacific Service (MPS) – “Duesseldorf Express” due to technical Problems. "We regret to inform you that the “Duesseldorf Express” experienced technical problems on her current westbound voyage. Due to the necessary repairs as well as the missed Panama Canal transit the vessel will be delayed by about 7 days," a statement from the company says.
Moody's changes outlook on CMA CGM's B1 ratings to stable
Moody's Investors Service has today changed to stable from positive the outlook on CMA CGM S.A.'s B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured rating. Concurrently, Moody's has affirmed the ratings assigned to the company. This follows CMA CGM's announcement of a pre-conditional voluntary general cash offer to acquire Neptune Orient Lines Limited (NOL, unrated), a Singaporean container liner, for a consideration of $2.4 billion.
Hanjin Aqua Aground in Sunda Strait
The container ship Hanjin Aqua (4,500-TEU) ran aground off Sangiang Island in Indonesia's Banten, Sundra Strait. The ship with 2303 containers on board is en route from Adelaide Australia to Jakarta, including hazardous cargo class A. Vessel (249m length overall and beam of 37m) has a portside list 3 degrees, grounded by bow part, hull is understood to be breached, details unclear. Indonesia patrol ships are on grounding site, crew remaining on board, as there is no danger of sinking.
Poland Launches 'Go Arctic'
Poland joins countries looking to tap into its natural resources, as minerals and fossil fuels become more accessible for exploitation. The Polish Information and Foreign Investment Agency (PAIiIZ) has organized and sent the first business mission of Polish entrepreneurs to Denmark and Greenland. The delegation of over ten companies left for a four-day trip at the start of the week, marking the official launch of the Go Artic campaign.
Chinese Shipyard New Orders Slump
Drop in commodity prices has slashed global demand for bulk carriers, pushing shipyards out of business, says Chinese news agency Caixin. Huai Jinpeng, a vice minister from the Ministry of Industry and Information Technology, which oversees the sector said that the industry is plagued by excess capacity even after many large private ship makers have gone bankrupt or stopped production. China alone will build ships with a total carrying capacity of 80 million tons next year…