Profit Warning of China Shipping Container Lines
China Shipping Container Lines (CSCL) has released a profit warning stating that it expects to close the financial year 2015 with a net loss of about 2.8 billion yuan (425 million dollars) compared to a profit of over one billion yuan recorded in 2014. The Chinese container line expects to log big 2015 deficit as volumes fall 8%. The Shanghai- and Hong Kong-listed carrier said the poor results are mainly due to a depressed container shipping market.
Keppel to Focus on its Asset Management Businesses
Keppel plans to consolidate its interests in business trust, REIT and fund management under Keppel Capital and grow its asset management business. In a major restructuring exercise to grow the contribution from its Investment Division, Keppel Corporation Limited (Keppel Corporation) plans to consolidate its interests in business trust management, real estate investment trust (REIT) management and fund management businesses (collectively, "Asset Management") under Keppel Capital Holdings Pte.
Damen TSHD 650 for Gippsland Ports
Damen Shipyards Group is constructing a Trailing Suction Hopper Dredger (TSHD) 650 for Australian client Gippsland Ports. The TSHD will be the first Damen dredger to operate in the country. The client will use the dredger to maintain entry to the port of Lakes Entrance and the Gippsland Lakes system, in Victoria, which is used by recreational, fishing and supply vessels. Currently, the client contracts a dredger annually to carry out the necessary dredging to maintain port access.
Wärtsilä, Cavotec Developing Wireless Charging, Mooring Concept
An agreement has been signed between Wärtsilä and Cavotec to jointly develop the world's first combined induction charging and automatic mooring concept. Wärtsilä has developed a wireless charging system based on inductive power transfer. Cavotec provides automated mooring systems for various types of vessels, as well as shore power and reel systems. By combining the strengths and expertise of the two companies…
Realignment at ABS Americas
ABS, a leading provider of classification and technical services to the global marine and offshore industries, announces the realignment of its Americas Division operations to create two new regions – Canada and Mexico, Central America and the Caribbean. This realignment strengthens localized leadership to help ABS members and clients take advantage of expanding opportunities. “ABS recognizes that the expansion of the Panama Canal…
Adani Group Buys Two Royal IHC Dredgers
The Adani Group has signed a contract for two IHC Beagle 8 trailing suction hopper dredgers (TSHDs). These two 8,000m3 vessels belong to the standardised IHC Beagle series, designed and built by IHC using over a century of dredging experience. The IHC Beagle series achieves high levels of efficiency and maximum uptime as a result of its uniform design and the use of high-end components. The vessels are reliable performers, with an emphasis on operational excellence.
ICS Issues Shipboard Bullying Guidance
Maritime employers and seafarers’ unions have joined forces to publish new international ‘Guidance on Eliminating Shipboard Harassment and Bullying’. The new Guidelines, developed by the International Chamber of Shipping (ICS) and the International Transport Workers’ Federation (ITF), can be downloaded from the ICS and ITF websites. These Guidelines have been launched in advance of an important International…
SENER Debuts LNG Bunker Vessel Design
Relying on more than four decades of experience and activities in the maritime and energy markets, including the design of a Floating Regasification and Storage Units (FSRU), SENER technology and engineering Group has developed its own design of a Liquefied Natural Gas (LNG) bunkering vessel. The SENER design follows the tendencies for 2030 required by operators and ship-owners. The result is a Ship To Ship (STS) LNG bunkering vessel…
BIMCO: Tanker Market Stays Strong, Demand is High
According to a recent BIMCO Shipping Market Analysis, the global tanker market remains a bright spot in the global shipping market, with demand staying high. Below is a synopsis of the report's latest findings. More than anything else, the healthy refinery margins that have followed in the wake of the lower input price has stimulated oil products trading and refinery throughput. This has been a strong boost to overall oil tanker demand.
BIMCO: Container Shipping Faces Low Supply Growth
While the containershipping market continues to welcome a fleet of modern, mammoth efficient ships to the fold, it will struggle in 2016 with low supply growth that will test its mettle, according to a recent analysis from BIMCO. Overall, container volumes being moved around the world have grown by an average GDP-to-trade multiplier of just 1.1 since 2010 and we expect this to continue in coming years.
KR Gets Statutory Okay in Germany, Togo
Korean Register (KR) - an IACS member classification society – is now authorized as a Recognized Organization (RO) by the German Federal Ministry of Transport and…
FURUNO Launches Two Radar Models
FURUNO has announced that two new Radar models FAR-15x3 series and FAR-15x8 series will be ready for launch very shortly. These two Radar models have been developed with the concept of delivering high performance and excellent operability at the same time. The FAR-15x8 series fully meets the latest performance standard of IMO for all Cat.2 Radar (19-inch display is required for Radar effective diameter…
New Mooring System for Commercial Vessels
Eliminating the slack line required for conventional tie-ups, PSI Marine's TideSlide Mooring System reduces inertial loading usually generated by a moored vessel. TideSlide's strength and safety are ideal for commercial docks where cargo or passengers are loaded. Maintaining the vessel's boarding proximity allows safer movement of freight and passengers. TideSlide's vertical movement absorbs any built-up energy…
Keppel FELS Delivers First Rig of the Year
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered Halul, a KFELS B Class jackup rig, to Gulf Drilling International Ltd. (q.s.c) (GDI) of Qatar.
50 Students Selected by Italian Ship-Owners
23 letters of employment delivered to new graduates in the presence of the Institutions of the School. Eleven Italian shipping companies “christened” the courses at the I.T.S. Fondazione “G. Caboto” (Caboto Foundation), an Institute of Advanced Technology, addressed to 50 students who will be recruited and taken aboard their ships once having completed the two-year training period, during which they will already have the opportunity to sail the seas worldwide as part of their education.
Voluntary Recall of SAFELINK EPIRBs Announced
Safety Alert- Kannad Marine has instigated a voluntary global recall program for its SAFELINK auto and manual emergency position indicating radio beacons (EPIRBs).
Baltic Index Bottoms Out at Record Low
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, ended flat on Monday, primarily due to higher rates for…
Nijmegen Rewards Clean Inland Vessels
From the 1st of January, 2016, Green Award certified inland barges receive a 15% discount on the harbor dues in Nijmegen. Ships holding a Green Award certificate are cleaner, produce less noise and have higher fuel efficiency. With this action the largest inland port of the Netherlands stimulates further development of sustainable shipping. The Port of Nijmegen is now a participant of the Green Award…
Foss to Open Oregon Customer Service Center
Foss Maritime Company recently announced it will open a consolidated customer service center in Oregon in April 2016. The company's existing Portland office will…
Metcalf to Keynote WISTA USA Luncheon
Kathy Metcalf, President & CEO, Chamber of Shipping of America was confirmed as the keynote speaker for the Eleventh Annual WISTA USA Luncheon at the CMA Shipping 2016 Conference in Stamford, CT, scheduled to take place at 11:30 a.m., Monday, March 21, 2016. WISTA USA uses this high-profile platform to highlight key personalities in the industry leaders that exemplify and resonate with WISTA's mission to promote and facilitate the exchange of information and education.