'Big Data' Helps NYK Line Axe CO2 Emissions
In fiscal 2015, Nippon Yusen Kaisha (NYK Line) achieved a 14.3 percent reduction in CO2 emissions, exceeding the goal established in 2011 in the company’s "More Than Shipping 2013" medium-term management plan calling for a 10 percent reduction by fiscal 2015 in the CO2 emission rate per unit of transportation from vessels compared with the rate recorded in 2010. NYK has worked “to contribute to the…
Panama to Transform its Role with Canal Expansion
Knowledge@Wharton, the Wharton School of the University of Pennsylvania journal, says that the transformation Panama Canal expansion project will bring to Panama’s domestic economy and society have been largely overshadowed by the historic expansion. With the opening of the long-awaited Panama project this June, all eyes are on the impact the $5.25 billion engineering marvel will have on maritime traffic across the vital international lanes that link the Pacific…
The Hour of the Networkers
Hapag-Lloyd launches “THE Alliance” with old and new partners – Customers benefit from additional sailings and direct connections. The container shipping industry is undergoing a period of reorganization – and Hapag-Lloyd is assuming a leading role in the process. The carrier has just teamed up with five other shipping companies to forge one of the world’s largest container shipping alliances. Plans…
UASC Shareholders Back Hapag-Lloyd Merger Talks
The Middle East container shipping group United Arab Shipping Co. (UASC ) met with shareholders at the company's corporate office in Dubai to discuss a possible combination with German rival Hapag-Lloyd, but no decision was finalized. According to sources, Shareholders in Ocean carrier were supportive during extraordinary general meeting (EGM), but no decision on merger. "While the shareholders' representatives…
COSCO Rolls Out Shipping Financial Platform
China COSCO Shipping Co. Ltd (China COSCO Shipping) officially inaugurated the company “COSCO shipping Financial Holdings Limited (COSCO shipping Financial) in Hong Kong. It was former China Shipping (Hong Kong) Holdings, reports Sinocast. The formation of Cosco Shipping Financial followed the completion of the merger between China Cosco Group and China Shipping Group in February this year to become Coscocs.
CMA CGM to Improve its PEX 2 Service Between Asia and the Caribbean
In order to continue offering the best dedicated service from Far East to Mexico, Central America and the Caribbean, CMA CGM is glad to inform its customers about the new rotation of its PEX 2 service. As from m/v CMA CGM NEW JERSEY voy.
SCI Profit doubles to Rs. 377.29 Crores
The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking, has nearly doubled it’s net profit to Rs. 377.29 Crores for the year ended 31st March 2016 as against a net profit of Rs.200.93 Crores in the previous year. Despite providing for an impairment loss of Rs. 136.38 Crores SCI has posted an impressive profit of Rs. 377.29 Crores…
USCG Completes Investigation into Wake from Milwaukee
The Coast Guard Sector Lake Michigan-led investigation regarding wake from the USS Milwaukee and recreational vessels off Chambers Island on Green Bay September 5, 2015, is completed. The marine casualty investigation determined that enforcement action against any of the parties involved would not forward the integrity of maritime safety and is therefore not warranted. As required by federal regulations, the Coast Guard conducted a marine casualty investigation.
Leavitt Heads Seattle Port's Environment Protection, Development
After an extensive national search, the Port of Seattle has promoted Elizabeth Leavitt to lead its work to protect and enhance the environment. The Senior Director for Environment and Sustainability is a newly created position leading a center of expertise that consolidates environmental, sustainability, and planning functions. Leavitt will report to the Chief Operating Officer (COO) and will serve on the CEO’s Executive Leadership Team.
ATCM Reaffirm Commitment to Ban on Mining in Antarctic
The 29 countries party to the Antarctic Treaty unanimously agreed today to a resolution at the 39th Antarctic Treaty Consultative Meeting (ATCM) stating their “firm commitment to retain and continue to implement…as a matter of highest priority” the ban on mining activities in the Antarctic, which is part of the Protocol on Environmental Protection to the Antarctic Treaty (also called the Madrid Protocol).
Los Angeles Port Approves $1.17 bi Fiscal Budget
The Los Angeles Board of Harbor Commissioners has approved a $1.17 billion fiscal year (FY) 2016/17 annual budget for the Port of Los Angeles. As in years past, budget allocations closely align and support the four key objectives of the Port’s 2012-2017 Strategic Plan, which include: development of a world-class infrastructure that promotes growth; implementation of an efficient, secure and environmentally sustainable supply chain…
Bonnie Again Becomes Tropical Storm
Bonnie returned to tropical storm status after weakening earlier this week, the U.S. National Hurricane Center said on Friday. The first tropical storm to reach the United States this year, Bonnie was 285 miles (460 kilometer) off Cape Hatteras, North Carolina. Winds were gusting around 40 miles per hour (65 kph). Forecasts called for some weakening over the next 48 hours, and Bonnie was expected to degenerate into a post-tropical low by Saturday, the National Hurricane Center said.
Adani may Withdraw from Australian Coal Mine Project
Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world's biggest coal mines in Australia, citing long delays caused by legal challenges to the project by groups concerned about the environment. Adani is battling multiple legal challenges from green groups opposed to its $10-billion Carmichael mine, rail and port project. The Australian on Saturday reported that the company's founder and chairman…