The Advent of Subchapter M
A primer: the new rule and guidance for operators as they search for the right mix of compliance options to meet their specific and unique needs. For several years, the towing vessel industry has been waiting for final publication of the U.S. Coast Guard’s Subchapter M regulation. While some have begun to proactively comply with the expected regulation, the unknowns of the new requirements have left many standing by for a final decision.
COSCOL Wins Kazakhstani Heavy Lift Shipping Contract
COSCO Shipping Co. Ltd. (COSCOL) said it has been awarded a transportation and logistics contract signed by representatives of all parties on September 27, 2016 in Astana, Kazakhstan. Part of the work under the contract will be subcontracted to COSCOL’s Korean Partners, namely Dongbang Transport Logistics Co., Ltd., Hanjin Transportation Co., Ltd., CJ Korea Express and Chung Yang Shipping Co., Ltd.
China Iron Ore Imports Rise in September
Chinese iron ore imports rose in September, according to Reuters data, as its steelmakers ramped up output in the face of global trade tensions about the country's steel exports.
Governments Spur Crackdown on Sea Pollution
Governments at the recent meeting of Parties which regulate the dumping of wastes at sea have called for more action to address marine litter in the oceans, particularly plastics and microplastics, which present a severe and long lasting threat to the marine environment. Parties to the London Convention and Protocol, meeting for their 38th/11th session, expressed concern around the issue of litter and plastics in the marine environment…
Empire State Stake, Melbourne Port Among Q3 Sovereign Fund Acquisitions
An Australian port and a stake in the Empire State Building's operator were among assets acquired by sovereign investors such as wealth funds and state pension funds in the third quarter of 2016, with deals totalling $21.2 billion. The combined value of deals was up 38 percent from the previous quarter, helped by a handful of jumbo-sized transactions in the infrastructure, energy and real estate segments…
Jumbo’s Heavy Lift Crane Vessel Repaired
A three-week repair project on the Jumbo Javelin, a DP2 Heavy Lift Crane Vessel owned and operated by Jumbo, has been completed Damen Shiprepair Van Brink Rotterdam in the Netherlands. The major aspect of the repair was the replacement of the frames of 15 box coolers. To minimize the time spent in dock, 12 of these were prefabricated prior to the Jumbo Javelin arriving at Van Brink, and the remaining three were built during the docking period.
Cyber Breaches Are a Top Risk, Shipping Execs Say
Shipping industry executives say the increased security threat from cyber and data privacy breaches is the number one risk to its sector, according to a new ranking released today by Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company. According to Willis Towers Watson’s Transportation Risk Index the second- and third-most pressing risks affecting the shipping sector are globalization of the customer base, and third-party security vulnerabilities.
New Draft Restrictions for Parana River and River Plate
Inchcape Shipping Services (ISS) is advising of a change to under keel clearance (UKC) rules on Parana River and River Plate in Argentina. From November 25, 2016…
Maersk Line Implements BigOceanData Vessel Tracking
BigOceanData and Maersk Line have entered into a two-year agreement whereby BigOceanData will deliver vessel tracking services to Maersk Line. The initial system went live on August 1, 2016 and is already in use in operation centers around the world on both desktop and mobile devices. BigOceanData is now working with Maersk Line to optimize the vessel tracking system for their in-house systems. BigOceanData is initially being used to track Maersk Line’s fleet…
New LNG Bunkering Solutions to Be Developed for Singapore
ExxonMobil and Pavilion Energy Pte Ltd are collaborating to develop solutions for liquefied natural gas (LNG) bunkering and other downstream developments in Singapore.
Cadets Stranded on Hanjin Ship Head Home
The Hanjin Louisiana, one of the containerships caught up in the collapse of the South Korean shipping company Hanjin, has finally docked in Singapore after several weeks of uncertainty at sea. Among those onboard the containership were four Scottish cadets, who disembarked in Singapore on September 28 for flights back home to the U.K., BBC reports. The four trainee officers studying at the City of Glasgow College – Ruaridh Hanna…
IMCA Launches Series of Regulatory Update Bulletins
Today’s regulatory agenda is being increasingly driven by environmental issues. Shipping is under increasing pressure to lower greenhouse gas emissions and to contribute…
UK Aims to Boost Exports to Nordic-Baltic Region
Maritime UK participated in a Department for International Trade scoping mission aimed at boosting maritime exports to the Nordic-Baltic region. The discussions which took place at the Foreign Office…
Hurricane Matthew's Threat to Haiti Grows
Fears mounted in Haiti as Hurricane Matthew edged closer on Monday, bringing 145 mile-per-hour (230 kph) winds and life-threatening rain that could wreak havoc in the Caribbean nation…
World's First LNG-Powered Cruise Ships: Shell to Supply Fuel
Shell Western LNG B.V. (Shell) signed a supply agreement with Carnival Corporation & plc (Carnival) to supply liquefied natural gas (LNG) to fuel two of the world’s largest passenger cruise ships. Under the agreement, Shell will supply LNG for the world’s first LNG-powered cruise ships due to start sailing in northwest Europe and the Mediterranean in 2019. This will be the first time LNG in dual-fuel engines will be used in the cruise industry to power ships both in port and at sea.
COSCO Eyes Doubling of Piraeus Cruise Traffic
China's biggest shipping company, COSCO Shipping, is aiming to more than double the number of cruise passengers using Greece's biggest port in Piraeus, in coming years, the chairman of the group, Xu Lirong said on Monday. "The movement of cruise passengers is around 1.1 million a year at present. Our short term goal is to increase it up to 1.5 million, and 3 million in the longer term," Xu said at a ceremony at Piraeus launching new docking space for cruise ships.
Transocean Floater Transocean Barents Enters Contract
Transocean Ltd. (NYSE: RIG) announced today that the Transocean Barents, a harsh-environment, ultra-deepwater floater, has been awarded a 15-month contract with Suncor Energy at a dayrate of $260,000.
ZIM Reschedules $115 Mln of Debt Payments
Israel’s container shipping company ZIM Integrated Shipping Services (ZIM) has reached an agreement with its creditors to reschedule payments of USD 115 million, during a period of up to 12 months starting from September 30, 2016. With this agreement in place the company maintains its financial stability and will continue to develop its growth plan, says a statement from the company. Reaching this agreement is another proof of the confidence and trust that the creditors have in the company.
Onboard Verification of Fuel Sulphur Content
Spot sampling and analysis of a ship’s fuel is becoming increasingly common as a means for port state control officers to verify the actual sulphur content of the fuel in use. The shipping industry is facing increasingly stricter air emission limits all over the world. Ships berthed in EU ports have used marine fuel with a sulphur content not exceeding 0.10 per cent since 1 January 2010. Transport…
NBS Maritime Launches Wholesale for Ship Suppliers
NBS Maritime, one of the leading ship supply companies in the Black Sea region, launches wholesale of ship supply items, tailored to the needs of ship chandlers in the area. The company is importing directly from well selected producers and is maintaining a regular stock of a large range of products, frequently required by maritime users. He added:" This is where NBS Maritime will be of benefit for the ship supply businesses.