IMRF Launches Children’s Lifejacket Campaign
Lifejackets have been donated by ActionAid to the International Maritime Rescue Federation to send to the Mediterranean to help adults and children who need rescuing on a daily basis. The 300 lifejackets – 150 for adults and the rest for children – will be sent to Sea-Watch in Malta who are performing rescues and who are in desperate need of lifejackets for children and babies. To boost the supply…
Baltic Exchange Shareholders Approve Singapore Exchange Takeover
Baltic Exchange shareholders on Monday approved an 87 million pound ($112 million) takeover by Singapore Exchange for one of London's oldest institutions, in a deal…
Wärtsilä Takes Part in Autonomous Shipping Project
Wärtsilä’s strong commitment to developing the technologies, the system reliability, and the essential designs to enable the viability of autonomous shipping is again emphasised through its participation in an important research programme. Together with other leading marine sector and information & communication technology (ICT) companies, Wärtsilä is supporting a project aimed at creating the world’s first autonomous marine transport system.
Lenders Hire Rothschild to Sell ABG Shipyard
Largest Private Sector Shipbuilding Yard in India ABG Shipyard is for sale. The Lenders led by State Bank of India has hired investment bank Rothschild to find a buyer for a majority stake in the company as they struggle to save Rs 16,000 crore ($2.4 billion) worth of loans given to it, reports Economoc Times. Lenders have to complete this exercise -converting debt into equity -within 210 days and find a new buyer within 18 months, according to Reserve Bank of India norms.
HMM Mulls Buying Hanjin's 37 Boxships?
Hyundai Merchant Marine (HHM), South Korean’s second largest shipping line, is believed to be looking into buying troubled carrier Hanjin Shipping's 37 container vessels, reports WSJ. HHM will be the first to look at Hanjin’s vessels, with the focus on five 13,000-container ships. But it isn’t certain HMM will find the money to buy the ships, which could go for around $90 million each. The South Korean government and Korea Development Bank (KDB)…
Maersk Line's Improves Asia-West Coast South America network
Maersk Line's new and improved Asia-West Coast South America network gives an optimised service to Chile and Peru with faster transit times and direct connections. It also offers a new service with fast and direct connection to South Asia, the company said in its press release. Dean Rodin, Maersk Line Head of Latin America & Oceania trades introduced the improve AC network, between Asia and West Coast South America in a video supplied by the company.
Agility, Maersk Join to Slash CO2 Emissions
Agility Logistics, a leading global logistics provider, has signed an agreement with Maersk Line, to cut CO2 emissions by 15% per container transported for Agility shipments by 2020. The agreement is part of Maersk’s Carbon Pact Challenge, an initiative under which Maersk Line and its key customers work together to drive down harmful emissions and reduce the environmental impact of container shipping.
Scandlines' Volume Zooms
Scandlines can look back at a very good high season in 2016. Especially the new hybrid ferry of the shipping company, the M/V Berlin, which was put into service in May on the route Rostock-Gedser, contributed to the growth in the number of transported vehicles. In July and August, Scandlines’ new hybrid ferry succeeded in breaking its own record numerous times. Thus, M/V Berlin transported no less than 39,451 cars in June.
Topaz Secures Kazakhstan Contracts
Topaz Energy and Marine said it has secured contracts in connection with the development of the Tengiz oilfield in Kazakhstan during 2016. The two contract wins announced in the second and third quarter together represent revenue of more than $500 million. The two contracts bring Topaz’s backlog to approximately $1.6 billion. Under the terms of the main contract awarded by Tengizchevroil (TCO) to a consortium comprising Topaz and Blue Water Shipping A/S…
SENER Unveils FORAN V80R2.0
The SENER engineering and technology group has taken part in the SMM Hamburg maritime trade fair, one of the most prestigious international meetings in the sector, which is held every two years, on this occasion from September 5 to 9. SENER, staying loyal to a tradition of over 20 years, attended with its own stand inside the Spanish Pavilion, in which it presented the stand-out features of the latest version of FORAN V80, the CAD/CAM/CAE system for the design and production of vessels.
Teekay Offshore Bags North Sea Shuttle Tanker Contracts
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has been awarded new three-year shuttle tanker contracts of affreightment (CoA), plus extension options, with BP plc, Royal Dutch Shell and OMV Group, to transport the oil produced from the new Glen Lyon FPSO which is part of the Quad204 development located west of Shetland in the North Sea. The CoAs…
Dryships Sells Panamax ‘at 10% premium’
DryShips Inc. (NASDAQ:DRYS), or the Company, an international, owner of drybulk carriers and offshore support vessels, today announced that it has sold the 2002 built Panamax drybulk carrier MV Oregon. The vessel MV Oregon, along with the associated bank debt, was sold to an entity controlled by the Company’s Chairman and CEO, Mr. George Economou. The vessel was sold for a 10% premium to fair market value, as supported by independent third party broker valuations.
Hamburg Süd Receives Gold Rating from EcoVadis
Hamburg Süd has been awarded gold, the highest-possible recognition level, for its evaluation completed in July 2016 by the supply chain sustainability network EcoVadis. The scorecard provided by independent sustainability expert EcoVadis indicates that Hamburg Süd has achieved advanced sustainability management practice. Hamburg Süd received an above-average rating in all categories. In the category “Environment…
More Plastic than Fish in the Ocean
Did you know that by 2050 there could be more plastics in the ocean than fish, if human habits don’t change? India Clean Seas Conference taking place in Goa, India (22-24 September), discussed what needs to be done to keep the oceans clean. IMO’s Director of Marine Environment, Stefan Micallef delivered the opening address, highlighting daunting environmental challenges facing the oceans and how to develop sustainable solutions.
Fitch: Maersk Gets Little Solace from Sectoral Diversification
The decision by A.P. Moeller-Maersk A/S to split into two separate divisions - Transport & Logistics and Energy - reflects the challenging fundamentals in the sectors in which it operates, and diminishing counter-cyclical benefits of operating in them in the current economic cycle, Fitch Ratings says. We do not expect the split to significantly improve the performance of the group's separate units, although the increased focus may help long-term strategy execution.
Cargotec Begins Interschalt Restructuring
Cargotec is to begin restructuring at maritime software provider Interschalt, following its acquisition of the company earlier this year. The re-organisation is estimated to affect Interschalt personnel in Germany, USA (Houston) and China (Shanghai). It is estimated that some Interschalt's production and design work will be discontinued or outsourced and some Interschalt locations will be closed. Cooperation negotiations have started at Interschalt and they will affect tens of employees.
Hiab Extends Warranty HIAB Loader Crane Models
Hiab, part of Cargotec, has decided on an extended warranty that covers all HIAB loader crane models. The warranty will be valid for all loader cranes delivered as of 1 October 2016. Hiab offers its customers five year warranty on structural components as well as general warranty of two years. The extended warranty was announced first in connection to the IAA exhibition in Hannover, Germany. "HIAB loader cranes are all about performance.
Finland Funds Autonomous Ship Research
The Finnish government's innovation investment arm, Tekes, said that it is making a multi-year commitment to funding collaborative research and development of autonomous, unmanned ships to ply the world’s oceans in the not-so-distant future. Tekes said in a statement that this research area is a priority for the Finnish government and would contribute to the nation's competitiveness. "Digitalization has a strong role in the development of the competitiveness of the Finnish maritime cluster.
Fire on Pemex Tanker in Gulf of Mexico
A fire broke out on an oil tanker of Mexican state oil company Pemex in the Gulf of Mexico on Saturday, forcing all the crew to be evacuated in the latest accident to plague the struggling firm.
Port House, Antwerp inaugurated
The new Port House in Antwerp repurposes, renovates and extends a derelict fire station into a new headquarters for the port – bringing together the port’s 500 staff that previously worked in separate buildings around the city. With 12 km of docks, Antwerp is Europe’s second largest shipping port, serving 15,000 sea trade ships and 60,000 inland barges each year. As the threshold between the city and its vast port…