Wan Hai Join TBS Service with “K” Line
Taiwan's Wan Hai Lines Ltd will expand further on its already extensive south-east Asia network by joining Thailand-Belawan Service (also known as TBS) on 7th of January 2017, to provide a direct service from Thailand to Belawan. The service will be jointly operated with "K" Line, by using 2 vessels with effective capacity of 1,400 TEU. Wan Hai and "K" Line will deploy one vessel each. TBS service will be a 14-day fixed round trip schedule…
Freight Rates Jump after Hanjin Collapse
The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea. It appears that the strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, is working. As most shipping volumes that Hanjin Shipping lost have passed to Maersk and Mediterranean Shipping Company (MSC)…
Incheon Port Cargo Volume Crosses 2.5mln TEUs
Incheon Port's annual container volume surpassed 2.5 million TEUs as of December 16, the largest-ever volume in the history of Incheon Port, in 11 years since hitting 1 million TEUs in 2005 and in three years since reaching two million TEUs in 2013. Korea's Incheon Port Authority (IPA) proclaimed a new voyage to make the top 30 ports in the world in a ceremony to celebrate the achievement of 2.5 million TEU annual container volumes at Incheon New Port located in Songdo-dong…
Rickmers Sells Vessel to Survive
Rickmers Maritime Trust has completed the sale of a vessel in connection with the settlement of senior loan facilities that German lender Commerzbank's Singapore branch extended to a unit of the trust. "The Trustee-Manager wishes to announce that the sale of the “India Rickmers” vessel has been completed. The Trustee-Manager will update its noteholders and unitholders if there are any further developments," Rickmers Trust Management Pte.
Vessel Earnings and Global Fleet Trends
Clarkson Research Services says market conditions across most sectors of the shipping industry have been highly challenging in 2016. The ClarkSea Index, which illustrates the fortunes of earnings for the major commercial ship types makes fairly clear the fate of the volume shipping sectors, but how is the wider global fleet covered by World Fleet Monitor faring now, in comparison to the post-downturn period as a whole?
Incheon Port Emerges as Port for Government’s Stockpiles
Korea's Incheon Port is rapidly emerging as a port for government stockpile imports due to a significant increase in imports of US edible soybeans. Incheon Port Authority (IPA) announced that the Korea Agro-Fisheries & Food Trade Corporation (aT) designated Incheon Port as the exclusive port for receiving 10,000-ton container volumes through a bid announcement of the basis purchase in 2018. The volume is a 66% increase from the 6…
Indisposed Man Medevaced from Fishing Vessel
The Coast Guard medevaced a 28-year-old male aboard the fishing vessel Captain David 40 nautical miles southeast of Venice, Louisiana, Saturday. The Eighth Coast Guard District watchstanders received a report at 3:16 p.m. that Andrew Carl had been suffering from seasickness and had become unresponsive. Watchstanders from Coast Guard Sector New Orleans were notified and launched a Coast Guard Air Station New Orleans MH-65 Dolphin aircrew at 4:26 p.m.
Clean Arctic Alliance Praises Move to Phase out HFO Use
Responding to the December 20th joint statement from the United States and Canada, regarding development of a strategy to phase out their use of heavy fuel oil (HFO) from vessels operating in the Arctic, the Clean Arctic Alliance praised both Arctic nations for their ambitious action to rid the region of the dirtiest marine fuel. “The Clean Arctic Alliance applauds the commitment of President Obama and Prime Minister Trudeau to develop a concrete proposal to phase down HFO use in the Arctic”…
K Line Sues APL Logistics
Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages arising from APLL employees’ acts of disseminating false information relating to “K” Line. Some of APLL employees have disseminated false information to “K” Line’s clients…
Diana Shipping Gets Refund Guarantee Payment
Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that in connection with the previously announced cancellation of a shipbuilding contract for a Kamsarmax dry bulk carrier, Hull No. DY6006, with an original delivery date of May 31, 2016, the Company received yesterday a refund payment of approximately US$9.4 million.
MPI Installs All Turbines at Nordergründe
Following the successful installation of the foundations earlier this year, MPI has now informed that their wind turbine installation vessel (WTIV) MPI Enterprise has completed the installation of 18 6.2M126 Senvion turbines at the Nordergründe offshore windfarm. Once commissioned, the wind farm will have an installed capacity of approximately 111 megawatt and will be able to supply more than 70,000 households with power in a year.
India Strives to Improve Efficiency of Ports
While increasing the capacity of major ports, Ministry of Shipping has been striving to improve the operational efficiencies through mechanization and other measures. As a result key efficiency parameters have improved considerably. The Average Turnaround Time has registered a significant improvement in 2015-16 and was 3.63 days as against 4.00 days in the corresponding preceding year. This has further improved to 3.49 days in the current year (up to October, 2016).
Iranian Fleet Regains P&I Insurance
A large portion of Iran’s shipping fleet has regained Protection & Indemnity (P&I) insurance from Steamship Mutual, reports Mehr News Agency. Steamship Mutual, said in a statement that a considerable number of Iranian vessels have taken out insurance form the company. "We are pleased to observe return of Iranian directors to the board of one of the largest and most diverse P&I Clubs in the world,” Jonathan Andrews, Director & Head of Eastern Underwriting in Steamship Mutual, said.
Russian Navy to Get Two Subs
In recent years, Russia has been putting many efforts in building a modern-day nuclear submarine fleet. The Russian Navy expects to receive the Project 955A nuclear submarine Prince Vladimir and the Project 885M Yasen-M nuclear-powered underwater cruiser Kazan in 2017, said Russian Navy Deputy Commander-in-Chief Vice-Admiral Viktor Bursuk in a statement. "The first improved Project 955-A submarine and the Yasen-M will be floated out within the time limits stipulated by the contract…
Qatargas starts operations at Laffan Refinery 2
Qatargas, the world's largest LNG producer, announced the commercial start-up of Laffan Refinery 2, marking a major milestone in the expansion of refining capacity in the State of Qatar. The project will refine 146,000 barrels per day of condensate from the North Field, the largest non-associated natural gas reserve in the world. Laffan Refinery 2 produces low Sulfur Euro-V specifications products such as Naphtha…
Arctic Discovery Shocks Scientists
A report from the Washington Post described how high Arctic temperatures had risen by about 36 degrees Fahrenheit last month, coinciding with record-low sea ice levels. Scientists have just discovered something int he Arctic that could totally change how they see the drastically changing temperatures in the region. This was a disturbing trend, as sea ice normally expands at this time of the year. But…
Debt Looms for South Korean Shipyards
The top four Korean shipbuilders have 2.3 trillion won ($1.9 billion) in notes maturing next year, the most in Bloomberg-compiled data going back to 1997. Bloomberg…
India to Push Coastal Shipping
Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel. However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable. On the contrary, the high penetration level of road followed by rail coupled with the ability to effect door-to-door movement of cargo makes the field tougher for coastal shipping.
Sandahlsbolagen to operate terminal at Gothenburg Port
The family-owned company Sandahlsbolagen Sweden AB has signed a five-year agreement with Gothenburg Port Authority to operate the new intermodal terminal at the port. Operations will commence by end of this month. "Sandahlsbolagen has for long time shown an interest in running a intermodal terminal at the Port of Gothenburg. We are extremely pleased that one of the most experienced companies in this sector in Sweden has opted to establish operations at the port…
Schlumberger, Transocean Ink Service Agreements
Cameron, a Schlumberger company, today announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs.