Hanjin Shipping Opts for Debt Restructuring
South Korea’s Hanjin Shipping Co. Ltd will work with lenders to restructure debt after years of weak demand resulted in losses and cash erosion, reports Bloomberg. The board of Hanjin Shipping decided to file for receivership and give creditors authority to manage the company, bowing to calls from the government and its main creditor Korea Development Bank (KDB) which asked Cho to accept heavy restructuring of the company.
Maersk Opens Direct Cork-Cuba Service
Danish shipping giant Maersk — the world’s largest container carrier — began its first ever connection between northern European ports and Cuba last Friday, promising the fastest freight transit times between Europe and the Cuban port of Mariel. Port of Cork has scored a major coup in landing a potentially lucrative spot on the first direct freight shipping service from northern Europe to Cuba since economic sanctions were removed on the Caribbean country, reports Irish Examiner.
First Call of MSC's Vessel Received at Sohar
Oman International Container Terminal (OICT) received the first call of the Mediterranean Shipping Co (MSC), the world’s second largest container shipper with over 2.7m twenty-foot equivalent units (TEUs) per year, Lana vessel at the Port of Sohar. Officials from Sohar Port and Freezone, as well as executives from Oman International Container Terminal (OICT), part of Hong Kong’s Hutchison Group, were quayside to greet MSC Lana.
AET Buys All of Paramount Tankers
AET will purchase the remaining 50% of Paramount Tankers that it currently jointly own (under a 50/50 joint venture agreement) with Golden Energy Tanker Holdings. Paramount Tankers is a JV which owns and operates six Aframax vessels. Commercial management is delivered by AET and technical management is provided by Enterprises Shipping and Trading SA. AET President & CEO, Captain Rajalingam Subramaniam…
Maersk Cuts Landing Certificate Issuance Time
Mumbai, 25th April, 2016: Maersk Line India has taken a major leap towards simplifying the Landing Certificate process by drastically reducing the time of issuance to just 12 hours. The process requires the customers to request for the certificate and they will receive it via email. This simplified process of issuing the Landing Certificate will be effective from 1st May, 2016 and will provide a hassle free transaction experience for the customers.
VPS, Seagull Maritime Join Forces for Fuel Management Training
Veritas Petroleum Services (VPS) and Seagull Maritime AS announced today that they have signed a collaborative agreement that will capitalise on their complementary strengths to bring state-of-the-art fuel management training to the maritime industry. First conceived to plug a gap in the knowledge and experience of ship managers and vessel crews in fuel management, this novel but comprehensive computer-based training tool is now being developed to provide e-learning onboard and ashore.
Mitsubishi Books Loss from Cruise Ship Business
Mitsubishi Heavy Industries, Ltd. (MHI) hereby announces its intent to book an extraordinary loss from its cruise ship business in the company's consolidated financial results for fiscal year (FY) 2015 (ending March 31, 2016). In November 2011 MHI received an order for two large-sized cruise ships for the AIDA Cruises brand. Due to difficulties in construction of the prototype ship, the Company booked…
ABS' New Condition Monitoring Guidance
Guidance Notes and Guide provide information for choosing monitoring techniques and insights for achieving classification. ABS has published two documents to help industry with condition monitoring. The new ABS Guidance Notes on Condition Monitoring Techniques helps owners choose appropriate monitoring techniques, and the ABS Guide for Surveys Based on Machinery Reliability and Maintenance Techniques…
Faulkner Joins Braemar SA as Manager
Braemar (incorporating The Salvage Association) has appointed David Faulkner as ‘Manager, Ports and Harbours (Middle East)’. David is a Master Mariner and pilot and will be based in the Braemar SA Abu Dhabi office. He has extensive experience in providing specialist port consultancy services on aspects such as vessel manoeuvring, navigation, VTS (vessel traffic service) and marine risk, as well as providing expert opinion services to the insurance and legal markets on navigation…
Statoil Buys Half Arkona Offshore Wind Farm Stakes
Statoil today enters the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announced the final investment decision on the 385 megawatt project. The estimated total investment for the project will be in excess of EUR 1.2 billion. The Arkona wind farm will provide renewable energy for up to 400,000 households in Germany, making it one of the largest ongoing offshore wind developments in Europe.
Keel Laid for Cruise ship Mein Schiff 6
The assembly of TUI Cruises ship Mein Schiff 6 at Meyer Turku shipyard started today 25.4.2016 with the laying of the first grandblock in the big building dock. When ready in 2017, Mein Schiff 6 will be a fourth high-technology cruise ship being built in Turku shipyard for TUI Cruises and marks the continuation of good cooperation between the two companies. Following old traditions of the shipyard coins were placed under the keel block to bring luck for the ship.
First Ocean Ship of 2016 Docks into Indiana Port
The Port of Indiana-Burns Harbor opened the 2016 international shipping season today with the arrival of the M.V. Lubie , a 623-foot bulk carrier from Europe. "Our port handles lakers and river barges year-round, but the first ocean vessel is always energizing for businesses and our workforce at the port," said Port Director Rick Heimann. "The Great Lakes and St. Lawrence Seaway provide a global connection for Indiana companies to ship goods to and from world markets.
New Condition Monitoring Guidance from ABS
ABS has published two documents to help industry with condition monitoring. The new ABS Guidance Notes on Condition Monitoring Techniques helps owners choose appropriate monitoring techniques…
BigOceanData Provides VMS to Falkland Islands
BigOceanData has been awarded a contract to provide the Government of the Falkland Islands with its vessel monitoring system (VMS) capability for another five years. For the first time the system will include AIS data, which will be integrated with existing Inmarsat tracking data from the fishing vessels. BigOceanData has been supplying the Falkland Islands government with its vessel monitoring system (VMS) for over 10 years.
Golden Ocean Names New CEO and CFO
The board of Golden Ocean Group Ltd. announced a pair of leadership appointments, naming Birgitte Ringstad Vartdal as the new Chief Executive Officer of Golden Ocean Management AS and Per Heiberg as the new Chief Financial Officer of Golden Ocean Management AS. Vartdal, who has held the position as Chief Financial Officer since June 2010, will replace Herman Billung, who has been the company's CEO since 2005.
CASPER Teams up with ECKS MARINE
Copenhagen-based Propulsion Dynamics and Hamburg-based ECKS MARINE have signed an agreement to work together on the German maritime market with the goal of improving…
New Boxes Developed to Ship Live Lobsters
The CMA CGM Group has launched a new generation of containers which allows for the safe carriage of live lobsters in their original water in conditions maintaining their natural habitat. The development, called AQUAVIVA, relies on CMA CGM’s reefer specialist expertise and the technology INNOPURE, developed by EMYG Environnement & Aquaculture. According to CMA CGM, lobsters were previously carried either frozen by sea or alive and on ice by airfreight.
Europa 2 to Call Cuba for the First Time
Sun, sand and Caribbean ‘joi de vivre’ – Hapag-Lloyd Cruises’ Europa 2 will visit the island of Cuba in the Greater Antilles for the first time on two cruises in October and November 2016. Maiden ports of call are special moments on cruises with Hapag-Lloyd Cruises’ ships and never fail to be a highlight for both the passengers and crew. For the first time, several visits to Cuba, the largest of the Antilles, are featured on Europa 2 itineraries in autumn 2016.
Great Lakes Shipyard Hires Skeeter as GM
The Great Lakes Towing Company announces the addition of Nikita Skeeter, a maritime professional with over 25 years of experience in shipbuilding and production management, as General Manager of Great Lakes Shipyard. Skeeter’s management experience includes multiple, simultaneous shipyard projects with budgets up to $1 billion, as well as responsibilities for more than 400 maritime professionals and production tradesmen including: Design…
DP World Awarded Limassol Port Concessions
DP World has been awarded a 25-year concession by the Cypriot government for the exclusive rights to operate Limassol port, the Dubai-based ports operator said on Monday.