Concor Consortium to Bid for Colombo Container Terminal
Container Corporation of India (Concor) has formed a consortium with APM Terminals B.V., John Keells Holdings and Maersk Line in order to bid for the development of East Container Terminal in Colombo, reports Hindu Business Line. The total project value is likely to be about $550-600 million. The Colombo Port currently has four container terminals. In 2008, a new harbour basin, the Colombo South Harbour…
ICC Releases its Latest Trade Finance Survey
According to this year's Global Survey - which received 357 responses from 109 countries worldwide - 61% of respondents reported a global shortage of trade finance. Only 52% of respondents reported an increase in trade finance activity, compared to 63% in 2015 and 80% in 2012. Furthermore, the perceived shortfall came predominantly from regional and global banks - 78% and 56% respectively, compared to 41% of national banks.
BIMCO Raises Concern on Global Sulphur Cap Implementation
BIMCO raises serious concern over data on available fuel ahead of MEPC decision on global sulphur cap implementation date. BIMCO, the world’s largest international shipping association, has today voiced serious concerns about some of the conclusions of the official study that will inform the decision of the MEPC over the implementation date of the 0.5% global sulphur cap. -On fuel oil quality. A significant…
DNV GL Brings Wind Industry Leaders Together in “Validation of Turbulence Models”
Together with global partners, DNV GL, the world’s largest resource of independent energy experts and renewables certification body, has launched a Joint Industry Project (JIP) to develop a new Best Practice for the validation of turbulence models. The JIP “Validation of Turbulence Models” aims to create a better understanding of turbulence modelling to reduce uncertainty in the design of wind farms.
North Korean Ships Reflag in Tanzania
Around 50 ships owned by or related to North Korea have reflagged in Tanzania since the United Nations Security Council adopted its strongest-ever resolution on the country in March…
Uncharted Waters: Mega-cruise Ships Ply Arctic Waters
First luxury cruise sailed Northwest Passage in Aug-Sept; Voyage will be repeated next summer. A surge in Arctic tourism is bringing ever bigger cruise ships to the formerly isolated…
France Mulls Majority Stake in STX Yard
France could take a majority stake in the French subsidiary of struggling South Korean shipyard group STX Corp, French daily Liberation said on Monday, citing unnamed sources at the finance ministry.
Korean Register CEO Park Passed Away
Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness. Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001. In that year he was appointed CEO of Welson Korea Insurance Brokers before becoming COO of Korea P&I Club in 2006. He appointed as Chairman and CEO of KR in December 2014. Dr. Park was 63 and leaves a wife and two children.
Kiel Posts Its Best Ever Cruise Shipping Season
This year’s cruise shipping season ended in Kiel on Saturday (October 8th) with a call by the “AIDAvita”. Overall, the port of Kiel was visited 147 times this year by 26 different cruise ships of more than 9.3 million GT, compared to 133 cruise ship visits in 2015. That was an increase in tonnage of 8.1 % over last year. More than 485,000 passengers boarded or disembarked at the port’s various terminals – 5.8 % more than in 2015.
Semco Maritime Wins Order for Culzean Field
Semco Maritime, a global provider of communications solutions, telecoms systems integration services and collaborative applications to the offshore oil and gas industry, has won a multi-million dollar contract to deliver communications systems and infrastructure for the production platforms at the new Maersk Oil operated Culzean field in the UK sector of the North Sea. The award of this contract by Singapore based yard Sembcorp Marine Offshore Platform Pte. Lts.
Samskip Completes Reefer Acquisition
Silver Green AS, owned 50% by Samskip, is changing its name to Silver Sea AS to mark the finalization of a series of ownership changes. The new name reflects a consolidation by Samskip of its position in the reefer vessel segment, including the strengthening its ownership in the company and direct investment in reefer vessels. Silver Green AS, based in Bergen, Norway, operates a fleet of 14 reefer vessels.
Marshall Islands Becomes Largest Tanker Flag
The Republic of the Marshall Islands (RMI) Registry has attained status as the world's largest tanker fleet following the addition of tonnage from markets in Greece, the U.S. and Asia over the summer. The RMI flagged tanker fleet stands at 44.6 million gross tons (GT). International Registries, Inc. and its affiliates (IRI), which provide administrative and technical support to the RMI Maritime and Corporate Registries…
Plunging UK Coal Imports Starts ‘Concerning Trend’ -BIMCO
The main exporters of thermal coal for coal-fired power plants to the U.K. have experienced a heavy decline in seaborne cargo volumes in 2016. This comes as a result of the U.K. starting a concerning trend for the dry bulk shipping industry, by close to doubling its Carbon Price Floor (CPF), says the Baltic and International Maritime Council (BIMCO). Russia, Colombia and the U.S. have been the top coal exporters to the U.K. for the previous three years. The long hauls from the U.S.
Russia to Build Permanent Syrian Naval Base, Eyes Other Outposts
Russia will create a permanent naval base in Syria to expand its military footprint in its closest Middle East ally, a government official said on Monday, a week after Moscow said it was considering reopening Soviet-era bases in Vietnam and Cuba. The move, announced by Russian Deputy Defence Minister Nikolai Pankov, is further evidence Russia is building up its capabilities in Syria despite a partial…
Merchant Ships off Yemen Bracing for More Danger
Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say. While shipping companies have yet to divert ships, there are growing worries that any further escalation could hinder oil supplies and potentially lead to higher insurance costs for shipments.
Skipper Fined for Dumping Trash at Sea
A barge skipper has been fined £500 and more than £2,000 in costs, after pleading guilty to dumping trash at sea, the U.K. Maritime and Coastguard Agency (MCA) reported.
Maritime Stakeholders Discuss Arctic Safety and Growth
Some 2,000 government, industry, research and civil society representatives gathered for the Arctic Circle Assembly held October 7-9 in Reykjavik, where the group of international participants engaged in dialogue and cooperation centering on the future of the Arctic. “Safety at sea is a condition for growth in the Arctic, where shipping is vital to – and often the only type of – infrastructure,” said Andreas Nordseth, Director-General, Danish Maritime Authority.
McNeel to Replace Lieungh as Sevan Marine CEO
Carl Lieungh will step down as CEO of Sevan Marine ASA effective January 1, 2017. The company’s board of directors has appointed current CFO Reese McNeel to take…
Canaveral Resumes Container Service after Hurricane Matthew
GT USA’s Canaveral Cargo Terminal (CCT) incurred minimal damage during Hurricane Matthew and is fully operational, the result of advance storm preparation and facility…
Horizon Flips First Hull for McAllister
Horizon Shipbuilding, Inc. of Bayou La Batre, Ala. said it has reached milestone in its contract with McAllister Towing. The Capt. Brian A. McAllister, the first of up to four hulls, has been flipped and set on the shipbuilding ways. A considerable amount of work was performed while the hull was upside down including installation of all major pipe runs and manifolds, fabrication and installation of the cable trays and bulkhead penetrations and fender installation, the builder said.