HMM Acquires Hanjin's 11 Ships
South Korea's Hyundai Merchant Marine Co. (HMM) will take over 11 ships returned by bankrupt Hanjin Shipping Co. to the Korea Development Bank (KDB), reports Business Korea. Haeyoung Maritime Services Co., a subsidiary of HMM which provides ship management and maintenance services, has managed one container and three bulk carriers returned by Hanjin Shipping to the KDB at the end of last month. These are Hanjin Shipping’s vessels on bareboat charter hire purchase (BBCHP).
Rosneft, BP In JV To Explore For Oil
Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation. Final binding agreements for the new joint venture were signed at the XX St. Petersburg International Economic Forum (SPIEF) in June 2016. The joint venture will focus on the onshore exploration of two…
Nils Andersen to Join the BP Board
The board of BP plc announced that it has appointed Nils Smedegaard Andersen as a Non-Executive Director with immediate effect; as well as serving on the Board he will join the Audit Committee. Andersen was Group Chief Executive of A.P. Møller - Mærsk A/S until 2016 and had previously been President and Chief Executive Officer of Carlsberg A/S and Carlsberg Breweries A/S. Carl-Henric Svanberg, Chairman of BP, said: “I am delighted to welcome Nils Anderson to the BP Board.
LNG Shipping Under Threat from Cargo Diversions
If Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, it will reduce demand for LNG vessels in the long term by cutting down on long-haul trade, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. Drewry has been maintaining a bullish long-term outlook for LNG shipping for quite some time and expects rates to improve substantially from 2018 onwards.
India Backs Ship Recycling Training Program
As part of its Coastal Community Development Program under Sagarmala, the Ministry of Shipping has sanctioned Rupees 10 Crore ($1.5 mln) as part of the first instalment to the Gujarat Maritime Board for capacity building and safety training of 20,000 workers involved in the ship recycling activities at Alanag- Sosiya recycling yard in Bhavnagar district in Gujarat. The total project cost is estimated to be Rupees 30 Crore over a period of 3 years.
Members Trust BIMCO, Says Philippe Louis-Dreyfus
BIMCO, the world’s largest shipping association, has unveiled its new corporate identity and website – following research and testing within its global membership. BIMCO President Philippe Louis-Dreyfus played a key role in the development of the association’s new identity, alongside BIMCO’s Executive Committee and Board of Directors. Louis-Dreyfus said: “Members have declared a huge amount of trust for BIMCO and the services it provides to global shipping.
Motor City Welcomes Navy’s Newest Ship
USS Detroit (LCS 7) was commissioned in its namesake city of Detroit on October 22. Adm. Phil Davidson, commander, U.S. Fleet Forces Command, officially placed the vessel in commission. "Today is about service. Cmdr. Michael P. Desmond, who command LCS Crew 108 “Ghost Riders,” assumed command of Detroit. "USS Detroit is truly blessed to have the opportunity to commission in its namesake city. Speakers included Michigan Gov. Rick Snyder, Detroit Mayor Mike Duggan and U.S. Sens.
Ukraine Rebuilding Navy with US Help
Ukraine is refitting and expanding its naval fleet, including repairing its flagship, the frigate "Hetman Sahaydachnyy", to counter a Russian military build-up in the annexed territory of Crimea…
V.Ships Extends Service Deal with Wärtsilä
Ship management company V.Ships has chosen Wärtsilä to provide maintenance services for its client Phoenix Reisen's cruise vessel M/S Artania. The five-year maintenance agreement covers the scheduled maintenance activities for M/S Artania's four Wärtsilä 32 main engines and one Wärtsilä 32 auxiliary engine as well as spare parts for them. Wärtsilä will also monitor the condition of the engines in real time and provide remote online support.
Eimskip to Acquire Nor Lines
Eimskip has entered into an agreement to acquire the Norwegian shipping and logistics company Nor Lines. The business, with about 200 employees and an estimated annual turnover of approximately EUR 110 million, will be restructured in order to be aligned with Eimskip’s current operations in Norway. Ingvald Løyning, CEO of DSD, said, “DSD started the process of finding a strategic solution for Nor Lines early this year.
Optimarin Grows US BWTS Order Book
Norwegian ballast water treatment (BWT) specialist Optimarin said it has secured a two-system contract with Fincantieri Bay Shipbuilding (FBS) in Sturgeon Bay, Wis. The agreement, which Optimarin said comes ahead of its imminent USCG approval, will see two 500 m³/h capacity Optimarin Ballast Systems (OBS) fitted on a single clean products barge. “The ability to trade in U.S. waters is key to global shipowners who want flexibility for their fleets,” comments Optimarin CEO Tore Andersen.
South China Sea Arbitration: Implications for Maritime and O&G
A recent decision by an international tribunal in The Hague, Netherlands, has significant implications for other maritime disputes, freedom of navigation, and future oil and gas claims in the Arctic. The arbitral award issued on July 12, 2016, by a unanimous five-member panel or Permanent Court of Arbitration (PCA) in the dispute between the Philippines and China over rocks and elevations in the South China Sea…
MARAD Grant Boosts Container Barge Efficiency
Container Loading Equipment to Provide Greater Efficiencies for Container on Barge Service Between Baton Rouge and New Orleans. The Port of New Orleans and the Port of Greater Baton Rouge will acquire specialized container loading equipment to increase efficiencies to the current container on barge shuttle service between Baton Rouge and New Orleans with a newly announced grant of $1,758,595 from the Maritime Administration (MARAD).
China Classification Society Opens Office in Denmark
The China Classification Society (CCS), which falls under the Chinese Ministry of Transport, has opened an office in Copenhagen, further extending Sino-Danish maritime cooperation. “For a maritime nation such as Denmark, it is important to have good relations and to cooperate with major maritime nations like China,” said Danish Maritime Authority (DMA) Director General Andreas Nordseth. “Therefore…
World’s Most High-tech Ship Enters Service
USS Zumwalt (DDG 1000), representing the newest class of surface combatant, was commissioned on October 15 in ceremonies at Baltimore. Secretary of the Navy Ray Mabus was the principal speaker. “This ship is an example of a larger initiative to increase operational stability and give the U.S. a strategic advantage,” he said. “Our Navy and our Marine Corps, uniquely, provide presence – around the globe…
Speedboat Hits Reef, Sinks off Indonesian Island, 18 Killed
A speedboat carrying 101 people, mostly migrant workers, struck a reef and sank off an Indonesian island on Wednesday, killing 18 people, the country's disaster agency said.
LNG Fuel is Not a Cure-all Solution
Liquefied natural gas (LNG) is not a panacea to reducing greenhouse gas emissions, and its increasing use as a marine fuel could be worse for the environment than burning heavy fuel oil…
Ship Design: Monitoring and Analysis for Emissions Reduction
In April 2015, the European Union adopted a mandatory Monitoring, Reporting and Verification (MRV) regulation for CO2 emissions resulting from maritime transport. The MRV requires operators of large ships to monitor and annually report the verified amount of CO2 emitted on journeys to, from and between EU ports. Using basic input data (distance, fuel, time, cargo weight) and indicators the ship’s performance is determined and reported publicly.
Ballast Water Management Systems: Let the Games Begin
With the accession by Finland to the International Convention for the Control and Management of Ships’ Ballast Water and Sediments, 2004 (better known as the Ballast Water Management or BWM Convention), there are now sufficient ratifications for the Convention to enter into force. Entry into force will occur on 8 September 2017. It has been an agonizingly slow process for a convention that was adopted with such high hopes.
MV WERFTEN Invests Another $14.4 Mln in Wismar Yard
The founding of a new cabin factory is part of the MV WERFTEN Group’s extensive investment program at its Wismar site. MV WERFTEN Fertigmodule GmbH, part of the MV WERFTEN Group, officially took over its own cabin factory in Wismar. The facilities with a total area of 22,000 square meters will be used for manufacturing ship cabins for the cruise ships with delivery from 2020. Besides a modern production area of 8…