The Odd Trio: HMM, Maersk and MSC
In one of the more bizarre twists in the container shipping market it emerged last week that financially troubled carrier South Korean Hyundai Merchant Marine (HMM) is in talks with the world’s two largest lines, Maersk Line and MSC about the possibility of joining them in the 2M alliance. This is a significant shift in mood music from HMM, which until recently was in danger of being a container pariah…
Diana Shipping Enters Contract with SwissMarine
Diana Shipping Inc., through a separate wholly-owned subsidiary, has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Ice Class Panamax dry bulk vessels, the m/v Crystalia. The gross charter rate is US$6,250 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum fourteen (14) months. The charter is expected to commence tomorrow.
CMA CGM Crosses 90% Ownership Threshold in NOL
Container shipper CMA CGM S.A. has crossed the 90 percent ownership threshold in Neptune Orient Lines Limited (NOL), enabling it to bring the Singapore company private. Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6, 2016, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68 percent of NOL’s share capital. With the public float of NOL shares now falling below the minimum threshold of 10 percent…
Navig8 Chemical Adds New Tanker from Kitanihon
Chemical shipping company Navig8 Chemical Tankers Inc. has taken delivery of its first stainless steel chemical tanker, the Navig8 Sirius, from Japanese shipbuilder Kitanihon Shipbuilding Co. Ltd. Navig8 Sirius is a 25,000 DWT stainless steel chemical tanker. The Navig8 Sirius is the first of six vessels contracted at Kitanihon to be delivered to the Company and is the first vessel to be delivered under the secured loan facility with Credit Suisse AG announced on June 22, 2016.
Freightgate Announces SOLAS VGM Compliance Solution
Freightgate Inc announced an easy to use, integrated (SSO enabled) solution for International Shippers around the world to comply with the new IMO Requirement to certify VGM (Verified Gross Mass). The new solution includes a plug-in that let’s you connect directly from your NetSuite Cloud ERP to the Freightgate Logistics Cloud and record your VGM submissions to your carrier. "We are very excited to…
Hanjin to Return 38 Vessels Next Year
Hanjin Shipping is planning to return a total of 38 chartered vessels once their contracts end as part of its restructuring efforts, reports the Korea Herald. A company official said Hanjin was planning to return 20 containerships and 18 bulk vessels by 2017, but declined to disclose details. The company was put under a creditor-led restructuring program. “We hope to save significant costs from the return.
Red River Closed after Barge Grounding
The Red River was closed Sunday from mile marker 40 to mile marker 42, after a barge reportedly ran aground and was protruding into the channel near mile marker 41, according to the U.S. Coast Guard.
Norwegian Unions Say 755 O&G Workers Could Strike
About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline…
Tanker Crewman Medevaced off Virginia
The U.S. Coast Guard medevaced an ailing crew member Saturday from a tanker off Virginia Beach. Coast Guard watchstanders at the 5th District Command Center in Portsmouth…
Danelec Launches ECDIS Computer-based Training
Danelec Marine has launched a new computer-based training (CBT) program for its second-generation DM800 ECDIS G2 products. The convenient and user-friendly CBT courseware…
Beier Purchases South Coast Electric Systems
Beier Integrated Systems (Beier) informs it has purchased South Coast Electric Systems (SCES) from American Electric Technologies (AETI), expanding the its manufacturing…
Matson Launches US West Coast - South Pacific Service
U.S. carrier in the Pacific Matson, Inc. has introduced a new containership service between the U.S. West Coast and ports in Samoa, American Samoa, Tonga and Fiji.
Huge Coke Drums Shipped from Spain to Louisiana
Intermarine, LLC, transporter of project, breakbulk and heavylift cargo, said it has transported four coke drums on the MV Ocean Freedom from Gijon, Spain, to New Orleans, La. The cargo was transported for forwarder Agility Project Logistics with end clients Phillips 66 and Wood Group Mustang. The cargo units measure 34.4 x 8 x 8.2 meters and weigh 333 metric tons each. The MV Ocean Freedom (14,360…
US Navy Accepts delivery of 7th Austal EPF
Austal USA’s Expeditionary Fast Transport (EPF) team finalized the delivery of USNS Carson City (EPF 7) to the U.S. Navy during a small document-signing event held onboard the ship on June 24, 2016. The EPF program provides the Navy with a new high-speed intra-theater transport capability. The 338-foot long Carson City is an aluminum catamaran capable of transporting 600 tons, 1,200 nautical miles at an average speed of 35 knots…
Expansion Planned for Newport News Industrial
Huntington Ingalls Industries (HII) announced that its Newport News Industrial subsidiary will undergo a 52,000-square-foot expansion at its headquarters facility in Newport News.
This Day In Naval History: June 27
1861 - While commanding a gunboat flotilla, Cmdr. James Harmon Ward is mortally wounded by a musket ball while aiming the bow gun of his flagship, USS Thomas Freeborn at Mathias Point, Va.
Morocco Sells 40% Stake in Port Operator in IPO
The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year…
BigLift Shipping Expands Heavy Lift Fleet
BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will be built by Ouhua Shipbuilding in Zhoushan, China. The new vessel is expected for delivery in the first quarter of 2018. Happy Sun will feature two 900-metric-ton Huisman Heavy Lift Mast Cranes which will make her geared for the handling of heavy cargoes all over the world.
Panamax Vessel Demand Keeps Baltic Index Up
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand…
New Era of Global Trade with Expanded Panama Canal
The Expanded Panama Canal is now officially open for business. During the official inauguration ceremony, Panamanian President Juan Carlos Varela and Panama Canal Administrator and CEO Jorge L. Quijano spoke to a crowd of more than 25,000 jubilant Panamanians, Canal employees, heads of state and dignitaries from around the world, Canal customers, shipping and trade executives, and nearly 1,000 journalists. This is the first expansion of the waterway since its original construction.