Africa and Shipping – A Mutually Benefiting Cooperation
African governments and businesses are important partners of European shipping companies and the region has become one of the most promising global growth markets. The “blue” economy offers a lot of opportunities, and close cooperation between EU and African institutions and stakeholders is vital. European shipping companies have traditionally had a good, longstanding cooperation with African partners and they have enabled Africa to be connected to world trade.
BIMCO Adopts Ship Financing Term Sheet
In a landmark decision, BIMCO cemented its move into the domain of ship financing with the Documentary Committee’s approval of a standard term sheet for use in ship financing transactions on 17 November 2016. The term sheet has been drafted as a short and simple standard for use in bilateral ship financing transactions concerning term loan facilities. It has been prepared in the well-known BIMCO format and is indicative/non-binding, as this is considered to be the market standard.
Globus Maritime Appoints New Non Executive Director
Globus Maritime Limited, a dry bulk shipping company, announced today that Dimitrios Stratikopoulos has resigned from its Board of Directors due to other recent pressing business commitments with the resignation taking effect immediately. The Board of Directors has appointed Ioannis Kazantzidis to the Board to replace Stratikopoulos as an independent Class I, non-executive director effective today.
European Commission Gives Conditional Backing to Hapag-Lloyd, UASC Merger
The European Commission on Wednesday said it has given its conditional approval to a merger between German container shipping line Hapag-Lloyd and the United Arab Shipping Company (UASC). The merger would create a combined company worth about 7 to 8 billion euros ($7.5-$8.6 billion). It would be the world's fifth largest shipping firm, with access to the Asia-to-Europe trade route and trans-Atlantic and trans-Pacific routes.
Seattle and Tacoma Report Strong October Box Volumes
The ports of Seattle and Tacoma reported October full load import and export volumes that were the strongest for the month since 2012. Year to date, imports and exports for October continue to support a strong peak season for the Northwest Seaport Alliance (NWSA), with an 11 percent increase and 16 percent increase, respectively. To support this peak shipping season’s strong agricultural exports, the NWSA has lengthened the extended gates program through December 2.
NATO Ends Counter-piracy Mission as Focus Shifts to Mediterranean
NATO has ended its Indian Ocean counter-piracy mission after a sharp fall in attacks, the alliance said on Wednesday, as it shifts resources to deterring Russia in the Black Sea and people smugglers in the Mediterranean. All ships and patrol aircraft have now left the area off the Horn of Africa, where they patrolled since 2009, as part of a broader international effort to crack down on Somali-based pirates who had caused havoc with world shipping.
A Passenger Vessel with a Megayacht Design
Cruising on pleasure boats goes back a long way on the large lakes of Central Europe. There has been a so-called White Fleet in Switzerland for more than 175 years. Now, the Lake Lucerne Navigation Company’s (SGV) latest generation of passenger boats has the countenance of a superyacht, designed by the Bremenhaven company, judel/vrolijk & co – design GmbH from the DEUTSCHE YACHTEN, Superyacht Germany working group. Following on from the MS Saphir, the SGV now has its flagship under construction.
Russian Tankers Smuggle Jet Fuel to Syria
Russian tankers have smuggled jet fuel to Syria through EU waters, bolstering military supplies to a war-torn country where Moscow is carrying out air strikes in support of the government…
Thailand Ups Long-term LNG Imports Due to Coal Plant Delays
Thailand is increasing its planned long-term imports of liquefied natural gas (LNG) to meet rising demand after delays to the construction of coal-fired power plants…
Vyborg to Build Four Trawlers for ATF
Arkhangelsk Trawl Fleet (ATF) has entered into contract with Vyborg Shipyard for the construction of a series of fishing trawlers. The shipbuilding contract, signed…
Collaborators to Develop LNG Deliveries in North UK and North Sea
Aiming to develop the infrastructure, storage and technical support needed to enable safe liquefied natural gas (LNG) operations for customers in the north of the U.K. and North Sea, including bunkering, partners ExxonMobil, Babcock International Group, Bernhard Schulte Shipmanagement (BSM), Calor and Orkney Islands Council have signed an agreement to collaborate in the Caledonia LNG project. The parties…
Nakilat Transfers LNG Umm Slal to in-house Management
Nakilat has assumed full ship management and operations of Q-Max LNG carrier Umm Slal from STASCo (Shell Trading and Shipping Company Ltd.) effective November 23, 2016, as part of the planned transition announced last month. With a cargo carrying capacity of 265,978 cu. m., Umm Slal is wholly-owned by Nakilat and chartered by Qatargas. The vessel built in South Korea by Samsung Heavy Industries was delivered in November 2008 and has been in service ever since.
USS Gabrielle Giffords Completes Acceptance Trials
Future Independence-class littoral combat ship USS Gabrielle Giffords (LCS 10) successfully completed its acceptance trials Nov. 18. The trials consisted of a series of in-port and underway demonstrations for the Navy's Board of Inspection and Survey (INSURV). Acceptance trials are the last significant milestone before delivery of the ship to the Navy. During the trials, the Navy conducted comprehensive tests of the LCS intended to demonstrate the performance of the propulsion plant…
Kongsberg to support RAN Bridge Simulator Expansion
The Royal Australian Navy (RAN) is expanding its maritime simulator facility at HMAS Watson, Sydney with the addition of new KONGSBERG ship-handling and navigation simulators and the integration of a new visual display system for its existing bridge simulator. The expansion has been established under the current support contract between KONGSBERG and RAN, in order to provide capacity to meet current and increasing demands for training.
Restrata, Agility Partnership in Training at REP, Iraq
Restrata, a global leader in consultancy and training services, has partnered with leading logistics provider Agility to offer specialised training for oil and gas sector employees at the Rumaila Energy Park (REP) in southern Iraq. The REP's new training centre will offer a wide range of courses related to health and safety and oil and gas industry operations. All training courses meet international standards, are accredited, and include transportation, catering and security services.
Korea Rolls Out Indigenous Combat Operation System for Subs
Daewoo Shipbuilding and Marine Engineering (DSME) has succeeded in producing the nation’s first integrated combat system, which serves as the brain of attack submarines. The integrated combat system detects, tracks and identify targets and help accurately evaluate tactical and operational situations. The South Korean defense contractor announced on November 21 that it has succeeded in localizing the integrated combat management system for submarines in cooperation with LIG Nex1 Corp.
India Plans to Increase Submarine Fleet
Indian Defence Minister Manohar Parrikar said the country must rethink its submarine building plan and look for greater numbers than the existing plan of making 24 submarines. "Indian Navy needs to rethink its submarine building plans and should look for more number of submarines," Parrikar said. Referring to the existing 30-year submarine building plan that envisages construction of 24 submarines--both nuclear and conventional--Parrikar said India needed a longer plan till 2050.
Korea Line Buys $31.4m Biz from Hanjin Shipping
South Korea's Hanjin Shipping Co Ltd will sell part of its container ship business to Korea Line Corp for 37 billion Korean won ($31.38 million), reports Reuters. Korea Line will buy Hanjin's Pacific routes shipping business, relevant client management information, units in seven countries including the United States, China and Vietnam, as well as assets and manpower related to logistics systems, Hanjin said in a regulatory filing. Hanjin said the sale, which will be completed on Jan.
Collaboration Lays Benchmark for International Award
A combined Defence and industry team has won the International Association of Contract and Commercial Management Innovation Award for Operational Improvement. The FFG Enterprise is a collaboration between Defence's Capability Acquisition and Sustainment Group, Royal Australian Navy, Thales Australia and BAE Systems Australia, working together to sustain and deliver seaworthy guided missile frigates.
Indian Master Receives 2016 IMO Award for Exceptional Bravery at Sea
The Master of an oil tanker who says she was “just doing her job” has received the highest International Maritime Organization (IMO) bravery recognition for saving the lives of seven fishermen from a sinking fishing boat during a tumultuous storm in the Bay of Bengal in June 2015. “It is every seafarer’s and Master’s solemn duty and obligation to save souls in distress at sea. I just did what a seafarer should do for a fellow soul in distress at sea.