Cargill, MV Cargo to Build Grain Terminal in Ukraine
Cargill and MV Cargo formalized their intention to construct a grain terminal in the port of Yuzhny on the Black Sea coast in Ukraine by signing a Share Purchase Agreement (SPA). The signing ceremony was held in Ukrainian Prime Minister Arseniy Yatsenyuk‘s cabinet office in the presence of the U.S Ambassador to Ukraine and senior Ukrainian government officials. “Ukraine is already one of the world’s great agricultural producers, but it should be an agricultural superpower,” said U.S.
Sound Energy Change of Registered Office
Sound Energy, the Mediterranean focused upstream gas company, announced that its registered office has changed, with immediate effect, to 4a Brewery Lane, Blighs Meadow, Sevenoaks, TN13 1DF.
Suez Canal Access Channel Officially Opened
The terminal is also expanding in response to Egypt’s growing population and economy, and role as a global transportation hub. East Port Said, Egypt – Completed within just three months, the new 8.5 km (5.2 mile) access channel directly links the East Port Said port complex to the Mediterranean Sea, eliminating the need for vessels heading to the Suez Canal Container Terminal (SCCT) to wait 6-8 hours for a time window between vessel convoys transiting the canal.
SSA on SGX/Baltic Exchange Talks
Members of the Singapore Shipping Association (SSA) have read with interest the recent announcement by the Singapore Exchange Ltd (SGX) in its bid to acquire the Baltic Exchange. Mr Esben Poulsson, President of SSA said: “We understand that for some time, the Board of the Baltic Exchange, which traces its origins back to 1744, has been considering a number of strategic options regarding future ownership of this venerable institution, and that a number of options have been under consideration.
7th Z-drive Towboat from Master Marine
In February, Marquette Transportation Co. took delivery of a new 2,000-hp Z-drive towboat from Master Marine, Inc., Bayou La Batre, Alabama. The 78'x 34’x11' St. Phillip was designed by Entech & Associates, for Marquette’s Gulf-Inland division, based in Harahan, La. The steel-hulled St. Phillip is powered by a pair of Thompson Power Systems Caterpillar C32 Tier 3 1,000-hp engines at 1,800 rpm connected to ZF Marine ZF AT 5111WM-FP Z-drives with 1,650 mm (65") 4-bladed propellers in nozzles.
Defence Force Chief Marks ADFA Anniversary
The Chief of the Defence Force Parade took on added significance today as the Australian Defence Force Academy (ADFA) marked 30 years since the first trainee officers marched in. Traditionally, the first parade of the year acknowledges the achievements of the Midshipmen and Officer Cadets who have successfully completed their initial military training. Today's parade also provided an opportunity to reflect on ADFA's history.
FIATA Still All at Sea on Container Weight
THE International Federation of Freight Forwarders' Associations (FIATA) has called for enhanced communication from container shipping lines ahead of the deadline by which new IMO regulations requiring verification of a freight container’s gross mass become mandatory. The non-governmental organisation, which represents an industry covering approximately 40,000 forwarding and logistics companies is…
India Worries About its Ageing Shipping Fleet
India's troubled shipping sector has been passing through tumultuous waters in recent years with over 40 per cent of the country’s fleet older than 20 years and about 12 per cent of them being 12-15 years old, says the Economic Survey 2015-16 , tabled in Parliament by Finance Minister Arun Jaitley on Friday. The decline in the Baltic Dry Index, a freight index that depicts the robustness of trade, from 10…
Team Tankers Acquires New Vessels
Team Tankers International (TTI) completed the acquisition of the ‘Sichem Amethyst’ and ‘Sichem Contester’, previously on timecharter in the Q4 2015. In addition, two of the company's older and smaller ships were sold. To continue to build up its European regional stainless steel fleet, Team Tankers agreed to acquire the ‘Southern Zebra’, a 8,900 dwt stainless steel chemical tanker. Delivery is expected in March, 2016. In 4Q15, the company took delivery of an IMOII MR on a one-year timecharter.
Shipowner’s Loss of Earnings and Collision Claim
Awareness of the ways of calculating loss of earnings claims can be useful in both presenting and challenging this type of claim. This Gard Insight looks at some general principles and methods applied by the courts. A product tanker was hit by a bulker while at berth. Although the extent of the physical repairs - and therefore the repair costs - were relatively limited, the damaged tanks required stainless steel plates which had to be specially ordered.
IEA Paints Lukewarm Outlook for Crude Oil Tankers
Every year around this time, the International Energy Agency (IEA) publishes their Medium Term Oil Market Report. The report includes the customary oil supply and demand forecasts and refinery dynamics. "Most interesting for us in the tanker industry is their detailed discussion of the crude oil trade flows. What does the latest IEA outlook have in stock for the tanker market?" asks, Tanker Research & Consulting department at Poten & Partners.
CMA CGM to Upgrade its PEX 3 Service
CMA CGM introduced its new PEX 3 service rotation linking US Gulf Coast and US East Coast (South Atlantic) to Asia, Africa and Mediterranean. Effective March 9th, 2016 in Houston with m/v CMA CGM CHATEAU D’IF voy. Improved connections from the US Gulf Coast to West Africa & North Africa via Tangier hub. Direct access to Singapore as new port of call. Improved transit times & connections to Southeast Asia from all PEX 3 ports of load.