Hapag-Lloyd Rolls out Euro Bond Offering
Global container shipping company Hapag-Lloyd has launched a euro bond offering with a volume of EURO 150mln ($159mln) and a maturity of five years. Part of the proceeds, initially amounting to USD 50 million converted (approx. EUR 47 million), will be used for the early redemption of US dollar notes due in autumn 2017. The US dollar notes originally had a volume of USD 250 million, half of which was already repaid in 2015.
CMA CGM Opens Navigation Hub in Singapore
CMA CGM Group, a leading worldwide shipping group, announced the opening of its Navigation and Port Operations Center in APL’s corporate headquarters in Singapore. A ceremony was held on the presence of Rodolphé Saadé, Vice-Chairman of the CMA CGM Group. CMA CGM chose Singapore to implement this Navigation and Port Operations Center, a critical navigation support unit of the group’s vessel operations.
0.5% Sulphur Cap Implementation on Agenda
Work to support the smooth and effective implementation of the 0.5% m/m global sulphur cap on fuel oil used by ships will be a main focus for the Sub-Committee on Pollution Prevention and Response (PPR), 4th session, which meets this week (16-20 January). The Sub-Committee will consider what additional measures may be needed to promote consistent implementation and will report with a justification and scope for further work to the Marine Environment Protection Committee (MEPC 71)…
Africa, Asia Join Efforts for Anti-Piracy Information Sharing
A meeting in Singapore (11-12 January) has seen African and Asian countries join efforts to promote greater networking and communications across anti-piracy contact points in the two continents. Speaking at the meeting, International Maritime Organization (IMO)'s Head of Maritime Security, Javier Yasnikouski, commended the initiative, saying that the efforts contribute directly to IMO’s work to raise…
Oman Shipping Signs 3-year VLCC Deal with Shell
Oman Charter Company (OCC), a subsidiary of Oman Shipping Company (OSC), has entered into a contract of affreightment (COA) for its very large crude carriers (VLCCs) with Shell International Eastern Trading Company (Shell) for three years, reports Muscat Daily. "This CoA demonstrates the ability of Oman Shipping Company and its subsidiaries to deliver top shipping solutions that meet the requirements of our esteemed clients," said Tariq al Junaidi, chief executive officer of OSC in a statement.
Subsea 7 Loses Petrobras Contract
Subsea 7 has received an early termination of the day-rate contract for its pipelay support vessel (PLSV) Seven Mar from the state-owned Brazilian firm Petrobras. The termination is effective January 16, 2017, the company informed. The contract was due to expire next year. The Brazilian government has reportedly withdrawn the operating license for the vessel to prioritise ships within its own fleet.
DOF Wins Petrobras Contract
Norwegian offshore service company DOF has been awarded a charter contract by Brazilian energy major Petrobras for its pipe-laying support vessel Skandi Vitória. The contract will commence in January for 532 days. The vessel is owned through a joint venture with Technip. Skandi Vitoria is the first pipe-lay vessel built in Brazil, equipped with vertical and horizontal pipe-lay systems, a 250 mt crane and 2 ROVs. The vessel is capable of operating in water depths up to 3,000 meters.
Vard Signs LOI with International Cruise Entity
Vard Holdings Limited has announced that it has signed a Letter of Intent (“LOI”) for the design and construction of an expedition cruise vessel for an undisclosed international cruise company.
Liu Joins Senior Shipping Figures at Nor-Shipping
Globally renowned green energy champion Peggy Liu has been announced as the latest speaker for Nor-Shipping 2017. Liu, the Chairperson of Joint US-CHINA Collaboration on Clean Energy (JUCCCE), is set to join a growing list of key shipping figures at the leading global maritime event week. Together they will deliver fresh perspectives on the challenges, opportunities and future evolution of the industry worldwide. Liu is a well-known figure throughout the business, political and media landscapes.
Dry Bulk: Less Pain, Not Much Gain
The dry bulk market’s strong end to 2016 is unlikely to last long into 2017, according to the latest research from Maritime Strategies International. In its latest quarterly dry bulk market report*, MSI predicts a depressed year for rates in 2017, a year marked by multiple risks to recovery. Stronger freight markets in Q4 2016 had been broadly expected by MSI, albeit for slightly different reasons.
Invasive Species & Ship Hull Biofouling
The entry into force of the Ballast Water Convention this September will not prevent the transfer of invasive aquatic species (IAS) unless there is mandatory legislation in place to prevent biofouling on ships’ hulls. Indeed, while there is ongoing evaluation of the Biofouling Guidelines set out in MEPC.1/Circ.811, there has been little support from IMO Member States for a new mandatory instrument to reduce the impact of bioufouling.
Certified ECDIS RH Marine Meets Future Standards
In December 2016 RH Marine’s ECDIS has officially been certified to meet the latest international standards. RH Marine is one of the first suppliers to have a fully certified ECDIS complying with the updated International Hydrographic Organization (IHO) standard that will be effective on September 1, 2017. Almost a year ago the IHO and the IEC introduced new ECDIS standards. One of the biggest benefits…
Castor Networks Acquires Watum Solutions
Castor Networks has acquired Watum Solutions effective immediately, a prominent supplier of IT networks and satellite communication for the shipping and offshore industry. Watum Solutions is specialized in designing, installing and maintaining IT and VSAT systems on board of commercial vessels, offshore vessels and drilling platforms and is active in Europe, Africa, the Mexican Gulf, the Caribbean Sea and the Middle-East.
Innovative Seaspan Ferry Enters Service
Seaspan Ferries Corporation’s (SFC) Seaspan Swift, a new hybrid LNG fueled and battery powered ferry, entered service between the British Columbia mainland and Vancouver Island. The innovative vessels is classed by Bureau Veritas, and it is reported to be the first hybrid LNG fuelled and battery powered vessel in service and the first LNG fuelled vessel operating on the west coast of Canada. Additionally, the on-board bunkering of LNG from a truck trailer is a first in North America.
Iridium Successfully Launches First Iridium NEXT Satellites
Iridium Communications announced the successful launch of its first ten Iridium NEXT satellites. The satellites were delivered into low-Earth orbit approximately one hour after the SpaceX Falcon 9 rocket lifted off from Vandenberg Air Force Base in California at 9:54:39 a.m. PST. Iridium NEXT is the company’s next-generation satellite constellation, replacing and enhancing its existing network of low…
Bahri's Q4 Profit Dips 42 pct
Bahri, the exclusive oil shipper for Saudi Aramco made a net profit of 327.8 million riyals ($87.4 million) for the three months to Dec. 31, it said on Monday. That compares with 566.4 million riyals in the fourth quarter of 2015. Alistithmar Capital and Albilad Capital had forecast the company would make a quarterly net profit of 454.60 million riyals and 431.00 million riyals respectively. Saudi…
DP World signs Kazakhstan Logistics Agreement
Dubai's DP World, one of the world's largest port operators, has signed an agreement with Kazakhstan to develop a special economic zone in the Caspian Sea city of Aktau, the company said on Monday.
Eastern Selects MAN Engines for OPC
The US Coast Guard will have MAN’s 28/33D STC engines installed as the main propulsion for its new Offshore Patrol Cutter (OPC) programme. The programme is the replacement platform for the 13 ‘Famous’ class and 14 ‘Reliance’ class cutter vessels, making the order the largest vessel procurement order in the Coast Guard’s history. Lex Nijsen – Head of Four-Stroke Marine – MAN Diesel & Turbo, said: “We are very pleased to have won this major order within such a key, domestic market.
ICTSI Manila hits 2M TEU
The Manila International Container Terminal (MICT), International Container Terminal Services, Inc.’s (ICTSI) flagship operation and the Philippines’ largest container terminal, capped 2016 with a milestone as it reached its first year-to-date two millionth TEU move last December. The MICT has an annual capacity of 2.75 million twenty-foot equivalent units (TEU). The two millionth TEU container was offloaded from SITC Osaka, which is operated by Chinese megaliner SITC Container Lines.
Cyberhawk shortlisted for Offshore Achievement Awards
Cyberhawk Innovations is delighted to be recognised as a finalist at the 2017 Offshore Achievement Awards for the categories Safety Innovation and Export Achievement. The world leader in aerial inspection and survey using Unmanned Aerial Vehicles (UAV), otherwise known as drones, continues to pioneer the use of this technology to conduct close up inspections of live and difficult to reach structures.