Hapag-Lloyd, UASC Merger
Hapag-Lloyd and UASC have signed a Business Combination Agreement. The Combined company will rank among the world´s five largest liner shipping companies and will operate one of the most modern fleets in the industry / Company will operate 237 vessels with total transport capacity of around 1,6 million TEU / Qatar Holding LLC and The Public Investment Fund of the Kingdom of Saudi Arabia to become new key shareholders of Hapag-Lloyd.
China: South China Sea Construction to Continue
China will not halt the construction of islands and reefs in the South China Sea, state media reported the head of China's navy saying on Monday. China will not…
China Admiral: 'Freedom of Navigation Patrols' could end 'in disaster'
Freedom of navigation patrols carried out by foreign navies in the South China Sea could end "in disaster", a senior Chinese admiral has said, a warning to the United…
Alfa Laval Dips on Q2 Profit, Margin
Q2 adjusted EBITA SEK is 1.39 bln vs year-ago 1.82 bln and 1.44 bln seen in Reuters poll. CEO says sees slightly lower demand in Marine & Diesel division in Q3 vs Q2. Sees Equipment division demand flat or somewhat lower in Q3 vs Q2. Alfa sees positive FX impact of SEK 475 million in 2016 and 100 million in 2017 and says strategic review that was announced in previous quarter is continuing according to plan. Additionally, the firm says result of this review will be presented before end of year.
Shipping Oversupply Persists Despite Scrapping Increase: Drewry
A record number of around 150 container vessels are expected to be scrapped in 2016 but it will not be enough for an industry battling over capacity, low demand and falling rates, consultancy firm Drewry said. In 2015, demolitions were less than half of the expected 2016 level but it will not be a real relief for the struggling container shipping industry. "This will only make a dent into the over-capacity built during the 2010-15 period," Drewry wrote in a note.
Stolt-Nielsen buys Jo Tanker's Chemical Tanker Ops
Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers. Stolt-Nielsen says total purchase price is approximately $575 million, including proportional share of newbuildings in joint venture. The transaction comprises 13 chemical tankers and a 50 pct share in a joint venture with eight chemical tanker newbuildings.
Baltic Index Firms on Panamax, Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.4 percent, at 748 points. The panamax index was up 11 points, or 1.27 percent, at 874 points. Average daily earnings for panamaxes…
PALFINGER Makes Takeover Bid for TTS
The takeover bid made by the PALFINGER Group for the Norwegian ship equipment supplier TTS Group ASA, listed on the Oslo Stock Exchange, was approved and published…
Fratelli Neri S.p.A. Orders Three Damen Vessels
Fratelli Neri S.p.A., the family-owned, Livorno-based harbor towage company, has ordered three new Damen vessels; an ASD Tug 2913, a Stan Tug 1606 and a Stan Launch 1305, the last for its subsidiary company Labromare, which is 50% owned by Tripmare S.p.A. All three vessels will operate in and around the port of Livorno, one of the busiest in the Mediterranean Sea. Delivery will take place in November this year.
Polar Cruise Ships: Rolls-Royce Signs $33M Deal
Rolls-Royce has signed a contract worth about $33m with the ship building company Kleven in Norway for design and ship equipment to two new polar cruise vessels, with an option for two additional vessels. The contract between Kleven and Rolls-Royce follows the conversion of a letter of intent into a firm contract signed between Kleven and Hurtigruten. Helge Gjerde, Director of Offshore and Merchant Solutions…
Blohm+Voss Strengthens Team
Blohm+Voss has appointed Jean-Gabriel Tridon as General Manager and Dieter Pladeck as Finance Director for its new maintenance and refit facility in La Ciotat in the south of France. The company has filled the two management positions only two weeks after winning the local tender of La Ciotat Shipyards for the setting up of the new site. In La Ciotat, Blohm+Voss will focus on the maintenance and refit of megayachts of over 80 meters in length.
Marsol Launching Rhino Craft in Dubai, Abu Dhabi
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, will be launching and demonstrating its Rhino Craft 750 HDPE vessel at exclusive events in Abu Dhabi and Dubai. The multi-purpose workboat is fabricated from ductile, high strength polyethylene and has been designed with a primary focus on the offshore oil and gas and coastal patrol markets, based on years of hands-on offshore experience.
Ships Worsen Air Pollution Over China, Killing Thousands
A boom in shipping is aggravating air pollution in China and other nations in East Asia, causing thousands of deaths a year in a region with eight of the world's 10 biggest container ports, scientists said on Monday. Often overlooked compared to cars and factories that are far bigger causes of smog, ship traffic has more than doubled off East Asia since 2005 and some pollution from the fuel oil of ships wafts inland, they said.
MTA Grows Portfolio with Magnificent Seven
Maritime Training Academy are adding to its portfolio of training courses with the addition of seven new Diplomas, confirming its position as a world leader in the…
Verweij Hoebee Groep Extends Service Portfolio with Management Audits
Verweij Hoebee Groep, a subsidiary of BMT Group, expanded its service portfolio with the introduction of management audits of ship owners. This unique prevention concept goes beyond the standard condition surveys which are conducted on board ships and extends to the examination of both management and technical operations. Director Bruce Verweij explains: “The primary goal is to limit the risk of damage to ships or ships that are under repair.
Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey
The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were…
Port of Boston Welcomes Largest Cargo Ship to Date
COSCOCS, one of the largest container operators in the world, upgraded its service into the Port of Boston Sunday with a vessel that can carry more than 8,500 TEUs (20-foot equivalent units)…
Dark Cloud of Offshore Storage Looms
Glencore books the STI Grace tanker to store fuel at sea-traders. This has not been the summer many oil traders had expected after last year's bumper profits. Banking on more of the same…
Ghana cuts GDP Forecast
Ghana has cut its 2016 economic growth forecast sharply to 4.1 percent from 5.4 percent due to lower export prices and irregular oil production, Finance Minister Seth Terkper told Reuters on Monday. Oil output was halted between March and May at the offshore Jubilee field due to a breakdown on a production ship, and the country lost millions of dollars in revenue. It has since restarted at a lower rate.
BP Fixes ANS Lifting on Foreign Flagged Vessel
British oil company BP has chartered a foreign flagged vessel to transport Alaskan North Slope (ANS) crude, pending regulatory approvals, a spokeswoman for the company said by email on Monday.