Cosco - Only Bidder for Piraeus Port
China’s Cosco Pacific is understood to be the only party interested in the acquisition of the 51 percent stake (plus another 15 percent) of Piraeus Port Authority (OLP), reports Kathimerini. Alexis Tsipras's government had halted the sale after winning elections in January but resumed the process under the 86 billion-euro bailout deal it agreed with its euro zone partners in the summer. The deadline for final bids was 1700 GMT on Monday.
EC Warns Greece on Tonnage Tax
The European Commission has sent to Greece a set of proposals to ensure that state support to the maritime sector in Greece complies with EU state aid rules. In particular, the Commission found that current provisions may breach EU state aid rules by allowing shareholders of shipping companies to benefit from favourable tax treatment that should be reserved for maritime transport providers. Similarly…
Drewry: Breakbulk Market Weak Until 2017
Global shipping consultancy Drewry Maritime Research said the breakbulk shipping market is expected to remain weak until 2017, citing low freight rates and high competition. Although demand growth is expected to recover next year after a very poor 2015, and supply growth is likely to be minimal, competition from other sectors will maintain pressure on the breakbulk shipping market, according to the latest edition of the Multipurpose Shipping Market Review and Forecaster…
Freight: Very Close to the End of the Road
In 1812, Russia beat back the advance of Napoleon’s army. On 18 December 2015 there is a similar tone of seasonal retreat, with most hopes pinned on the New Year. Shame there’s no-one around to write a symphony about it. At this stage the status quo in the freight market looks set to continue into Christmas with the capesize index down 23% on the week as it continues to suffer from excess capacity and a China slowdown.
Skuld Quadruples Bottom Line
Norwegian marine insurer Skuld delivered a result of USD 20 million in the first nine months of the year, a USD 5 million increase from the same period last year. Overcapacity is still putting pressure on premium levels, says CEO. Skuld president and CEO Ståle Hansen said: "After nine months the bottom-line ended at USD 20 million, which includes provision for a mutual members' credit of USD 5 million.
CMA CGM Services to Asia and Mexico, Central America & WCSA
In a continued effort to provide our customers with reliable and efficient services from Asia to Latin America, CMA CGM wishes to inform about the improvement of ACSA services linking Asia to Mexico, Central America and West Coast South America. Port coverage will increase and will be improved with: Pusan EB call, Balboa EB and Coronel on ACSA 2. CMA CGM will keep providing the most efficient services…
Ocean Yield and Höegh Autoliners Charter Pact
Ocean Yield ASA has agreed to certain amendments to the charter agreements with Höegh Autoliners (Höegh) for four PCTC vessels on long term charter. Ocean Yield currently has two newbuilding PCTC vessels of 8,500 CEU capacity under construction at Xiamen Shipbuilding Industry Co. Ltd. The vessels are part of a series of six vessels, where Höegh has ordered four newbuildings and Ocean Yield two. Upon delivery, the vessels will be chartered out to Höegh on 12-year bareboat charters.
Panama Canal Expansion 96% Complete
The Panama Canal Authority (ACP) announced that the first-ever expansion is 96 percent complete. A video of recent progress can be seen here. In line with this, ACP CEO/Administrator Jorge L. Quijano provided a next-step update at an industry event Friday in Panama City. Locks reinforcements are scheduled to be completed mid-January 2016. Testing of locks reinforcements and additional testing will occur next.
Cruise Ship Breaks Record for Social Media at Sea
Norwegian Escape, the newest and largest of Norwegian Cruise Line’s 14-vessel fleet, experienced a record-breaking social media milestone during its inaugural celebrations from October 22-November 11, 2015. Cruisers logged 576,896 Facebook posts, 14,150 tweets and 11,367 Instagram posts for a total of 159 million impressions, surpassing the cruise line’s “social media usage at sea” record set during the 2013 inaugural events for Norwegian Breakaway, exceeded in 2014 with the Norwegian Getaway.
Rapp Marine Scores Two Contracts in China
Rapp Marine informs it has been chosen to supply equipment packages for two new oceanographic research vessels for the Guangzhou Marine Geological Survey, GMGS, and Polar Research Institute of China, PRIC. "The contracts were awarded in a highly competitive market against strong international competition. The choice fell on Rapp Marine since we can offer the best technological solutions, we have extensive experience with these types of deliveries…
Vigor Delivers New Towboat to Tidewater
Tidewater Transportation and Terminals today marked delivery of the second of a series of three towboats, the Granite Point. The vessel, built by Portland’s Vigor, follows towboat Crown Point, which began operations along the Columbia Snake River (CSR) in May 2015. Like the Crown Point, the Granite Point is a custom-built, environmentally-friendly towboat that was specifically designed by CT Marine, Naval Architects and Marine Engineers of Edgecomb, Maine, to serve Tidewater’s customers.
GTT Grants License to India's CSL
GTT grants a License Agreement to Cochin Shipyard Ltd. GTT (Gaztransport & Technigaz) announced it has granted a License Agreement to Cochin Shipyard Ltd. (CSL)…
Final Interlake Steamship Vessel in for Repower
The S.S. Herbert C. Jackson made its final journey as a steamship this month when it sailed into Fraser Shipyards in Superior, Wis., where it will undergo a six-month conversion to a highly automated diesel propulsion system. As the last steam-powered ship in Interlake Steamship Company’s fleet, the Jackson is the fifth ship to undergo a major overhaul and its fourth steam-to-diesel conversion since 2006.
Greece: Final Bids Submitted in Piraeus Port Sell-off
Greece said that final bids for a majority stake in Piraeus Port Authority, operator of its biggest port, were submitted on Monday but the prospective buyers will…
Airbus Group Sheds its Commercial Satellite Communication Business
[Press Release] Airbus Group SE (AIR) signed with French private equity firm, Apax Partners, a share purchase agreement (SPA) for the sale of 100% of the share capital of the legal entities comprising the commercial satellite communication business. The final closing of the transaction – subject to regulatory approvals – is expected to take place in the next months. Airbus Defence and Space announced…
Gladding-Hearn Delivers Pilot Boat to Delaware Pilots
The Delaware pilots association has taken delivery of its third pilot boat of the popular Chesapeake Class from Gladding-Hearn Shipbuilding, Duclos Corporation. The delivery marks the fifteenth pilot boat of this class built by the Somerset, Mass., shipyard, since its introduction in 2002. Designed by C. Raymond Hunt & Associates, the all-aluminum pilot boat measures 52.6 feet overall. It has a 17-foot beam and 4.8-foot draft, and a top speed of 25 knots.
Baltic Index Higher on Firm Panamax Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched up on Monday, helped by firmer panamax rates. The overall index rose one point…
PAO Sovcomflot Lays Keel for New Supply Vessel
Arctech Helsinki Shipyards Oy (part of United Shipbuilding Corporation) held a keel laying ceremony last week (17 December) for a new icebreaking platform supply vessel ordered by PAO Sovcomflot under a long-term agreement with Sakhalin Energy. Originally signed in April 2014 following an international tender held by Sakhalin Energy, the agreement provides for the operation of one multifunctional icebreaking…
Mission to Seafarers Responds to Singapore Strait Tragedy
Global maritime welfare charity The Mission to Seafarers outlines emergency support work with surviving crew members of the Thorco Cloud – a general cargo vessel which sank in the Singapore Strait after a collision on December 16. The other vessel involved, chemical tanker Stolt Commitment, received only minor damage and is in a stable condition. Cayman Islands-registered Stolt Commitment and freighter…
Buss Shipping Equips Two Container Vessels
Buss Shipping, the shipping arm of the worldwide maritime logistics service provider Buss Group, will install Alfa Laval PureSOx exhaust gas cleaning systems on two of its container vessels at the beginning of next year. As a key step in this process, hybrid Alfa Laval PureSOx systems will be retrofitted on board the vessels Condor and Corsar. Both are container feeders of 1025 TEU that operate exclusively in Emission Control Areas (ECAs).