China Merges Shipping Firms in Reform Push
Chinese shipping subsidiaries will realign their businesses in response to the merger between China Ocean Shipping (Group), known as Cosco Group, and China Shipping Group, reports Nikkei. Sinotrans & CSC Holdings Co., the nation's third largest shipping company, will become a wholly-owned subsidiary of China Merchants Group (CMG). Earlier in December, China approved the merger of another two of its biggest state-owned shipping companies…
China Defends Test Flight in South China Sea
China has rejected a protest from Vietnam over a flight test it has conducted on a new airstrip on a man-made island in the South China Sea, saying it is part of China’s territory. Chinese Foreign Ministry spokesperson Hua Chunying said on Saturday that the flight is to test whether the airfield facilities can meet civil aviation standards. “China has indisputable sovereignty over the Nansha Islands and their adjacent waters.
Australia Submarine Contract Award in Final Stage
The Australian government has begun its final evaluation of bids from Japan, Germany and France to choose the maker of its next-generation submarine and is expected to make its decision by the end of June, reports the Japan Times. The navy's new submarine fleet could reportedly cost taxpayers at least $5 billion less than expected, secret price estimates given to Defence by three international competitors show.
UASC calls at DP World London Gateway with Record Load
DP World London Gateway has welcomed one of the world’s largest container ships carrying a record 18,601-teu. The UASC-owned Al Muraykh called at DP World London Gateway to unload 3,800 containers. Al Muraykh, a new generation of ultra-large container ships, is one of the largest in the world measuring 400 metres in length. The containers are loaded 11 storeys high above deck and 23 containers across the ship. With thousands more stowed below deck, the ship can carry up to 18,800 containers.
Low Bunker Prices Benefit Ship Owners in 2015
As 2015 draws to a close and the Worldscale Organisation published the new 2016 Flat Rates, Poten and Partners goes through the annual exercise of updating Flat Rates in its systems. This highlighted once again the significant changes in bunker prices that occurred over the last 2 years. The Worldscale Organisation calculates Flat Rates based on average bunker prices over the period from October 1 of the prior year to September 30.
Lim Ki-tack Will Take Office As IMO Chief Next Month
Lim Ki-Tack, who has been elected as the next secretary-general of the International Maritime Organization (IMO) in a ballot, will start his four-year term in the beginning of next year, the South Korean government said, reports Yonhap. Lim will replace Secretary-General Koji Sekimizu to become the 9th IMO secretary-general starting Jan. 1. With six candidates in the running it took five rounds of voting before Lim was able to collect more than half the 40 votes from IMO Council members.
Polarcus Extends Collaboration with Turkish Petroleum
Polarcus Limited announced a two-year extension of the support services agreement with Turkish Petroleum covering seismic data acquisition management, maritime management and crewing support. Reference is made to the stock exchange notice published by Polarcus on 02 January 2013 regarding long term collaboration agreements with Turkish Petroleum. Through this extension, Polarcus will continue to provide Turkish Petroleum the support services required to deliver safe…
US Western Rivers Closures, Restrictions
The Coast Guard has issued a number of river closures, restrictions and advisories in response to floods in the Midwest. To keep the public and professional mariners apprised of changes to river traffic, the 8th District will continue to issue press releases capturing all closures and restrictions throughout this period of high water and flooding. * Upper Mississippi River closed between mile markers 184 and 179 near St. Louis, Missouri.
Bright Future for LNG Bunkering - TMR
Transparency Market Research (TMR) have given a detailed insights and analysis of the global market for LNG bunkering fuel in its recently published market research report. On the basis of capacity, the market, which had a valuation of mere 70 kilo tons in 2013, is projected to expand at an astounding 63.6% CAGR between 2014 and 2025 and reach 22,540 kilo tons by 2025. The report includes an analysis…
DP World London Gateway Port Welcomes Largest Box Ship
UASC’s MV Al Muraykh has sailed to UK’s new premier hub port and logistics park carrying a world record 18,601 TEU. London, UK, 2nd January 2016:- DP World London Gateway Port has welcomed one of the world’s largest container ships carrying a recorded 18,601 TEU (Twenty Foot Equivalent Units). The UASC owned Al Muraykh chose to call at DP World London Gateway to unload 3,800 containers. The ship is one of the largest in the world measuring 400 metres in length.
S.Korea's December Crude Imports up 21.1 % y/y
South Korea's crude oil imports in December rose 21.1 percent from a year earlier to 97.9 million barrels, preliminary data from the Ministry of Trade, Industry and Energy showed on Friday. The final data will be released later in the month by state-run Korea National Oil Corp (KNOC). * Note: The ministry did not break down imports by country of origin. South Korea's total crude imports in November fell 1.5 percent year-on-year, according to KNOC data last month.
Record Number of Migrants Killed Crossing Mediterranean
More than 3,770 migrants and refugees died in 2015 trying to reach Europe by crossing the Mediterranean Sea, making the year the deadliest on record for those seeking sanctuary from conflict and poverty, an international migration group said on Thursday. Most of those deaths occurred along a perilous central Mediterranean route used by smugglers operating out of Libya, according to the International Organization for Migration (IOM).
USCG Assists Fish and Wildlife Departments Patrol Crab Opening
The Coast Guard assisted representatives of the Washington and Oregon Departments of Fish and Wildlife patrol the waters of the Pacific Northwest during the pre-soak period of the commercial Dungeness Crab season, which opens Jan. 4, 2015. The Dungeness Crab Season begins Monday from the California/Oregon border north to Destruction Island, Washington including Willapa Bay and Grays Harbor. The Northern…
Sinha Takes Over as CMD of SCI
Capt. B.B. Sinha, Director (P&A) of The Shipping Corporation of India limited (SCI) has assumed the additional charge of the post of Chairman & Managing Director, SCI w.e.f. 01.01.2016 as per the Office Order received from the Ministry of Shipping till 31.03.2016 or until, further order whichever earlier. A. K. Gupta who was the Chairman and Managing Director of SCI superannuated on 31st December 2015.
Dredging Opportunities in Indian Waters
The Dredging Conference organized by Hinode in Kolkata on Thursday, January 21, 2016 will spotlight the vast opportunities that exists for dredging companies and…
Australian, Chinese Navies Conduct Joint Exercise
HMAS Darwin has conducted a passage exercise with the Chinese People’s Liberation Army-Navy (PLA-N) Escort Task Group 152 off the coast of Queensland. The task group consists of three ships—the Luyang Class destroyer Jinan, (DDG-152), the Jiangkai Class frigate Yiyang (FFG-548), and the Fuchi Class replenishment ship Qindaohu. (AOR-886). The task group will spend five days in Brisbane from 2 January 2016.
Management Changes at GAC
Four managers from the GAC Group start 2016 with a new challenge as they take on new roles for the global provider of shipping, logistics and marine services. Peter Österman moves to his native Sweden to take on the new role of Commercial Manager – Shipping for Denmark, Finland and Sweden combined. He is replaced as Managing Director of GAC Global Hub Services by Ronald Lichtenecker who relocates to Dubai for his new role. Lichtenecker was previously Managing Director of GAC Singapore.
Brightoil In for Ten Vessels
Singapore Subsidiary and Shenzhen Brightoil Shipping yesterday entered into the Vessels Acquisition Agreement, pursuant to which Shenzhen Brightoil Shipping agrees to sell, and Singapore Subsidiary agrees to purchase ten Vessels for a total cash consideration of US$84,000,000 (equivalent to approximately HK$651,030,240). Shenzhen Brightoil Shipping is a connected person of the Company under the Listing Rules.
Hapag-Lloyd to Replace Vessel on Conosur Service
Hapag-Lloyd informed that their vessel Hammonia Massilia Voyage 051W on our Conosur Service (South America West Coast to South America East Coast Service) will be replaced by Niledutch Antwerpen voyage 001W. The plan for the phase in/out is as follows: Hammonia Massilia 051W will phase out at Guayaquil on January 19, 2016 Niledutch Antwerpen 001W will phase in at Callao on January 20, 2016
Scorpio's Reverse Stock Split
Scorpio Bulkers Inc. informed yesterday that its board of directors has determined to effect a one-for-twelve reverse stock split of the Company's common shares, par value $0.01 per share, and a reduction in the total number of authorized common shares to 56,250,000 shares. The Company's shareholders approved the reverse stock split and change in authorized common shares at the Company's special meeting of shareholders held on December 23, 2015.