S.Korea Court to Declare Hanjin Bankrupt on Feb. 17
A South Korean court said on Thursday it decided to end Hanjin Shipping Co Ltd's court receivership process and expects to declare bankruptcy on February 17 after a two-week period for appeals.
Gruenhagen Named CFO at MV WERFTEN
Shipbuilding group MV WERFTEN said it has appointed Richard Gruenhagen as Managing Director of Finance and Administration to reinforce the group's Management Board as new CFO effective February 1. Gruenhagen graduated from Indiana University, is a Certified Public Accountant (USA), has many years of experience as Executive Financial Management Professional, broad business experience as CFO, Director of Finance…
Maersk Ship the Largest to Ever Call in Israel
The 13,092 TEU containership Maersk Elba arrived at Haifa Port's Carmel Terminal, becoming the largest ship ever to dock in Israel. Maersk Elba entered the Carmel Terminal Thursday, and was operated on by four STS cranes with an average productivity of 136 containers per ship hour. This ship is part of the weekly service line operated by the 2M Alliance of Maersk and MSC linking the ports of South Korea, China and Singapore to Haifa Port, and from there continues to the Adriatic ports.
Gas Turbine Passes FAT for Italian Navy Ship
Rolls-Royce said it has achieved a milestone for the Italian Navy’s new Landing Helicopter Dock (LHD) multi-purpose amphibious vessel, to be built by Fincantieri one of the world’s largest shipbuilding groups, by successfully completing the factory acceptance test for the vessel’s first MT30 Gas Turbine. Rolls-Royce has been selected to provide two MT30 gas turbines to power the new 20,000 tonne displacement, multi-purpose amphibious vessel.
Pakistan's First Dry Bulk Terminal to Open in March
Pakistan's first dry bulk terminal will open next month and is expected to handle 3 million tonnes a year of coal imports, rising to 20 million tonnes over the next five years…
CMR Instrumentation, Sensor Control for French Navy Newbuild
CMR GROUP, the marine automation and instrumentation specialists, has supplied the French Navy’s latest maritime patrol vessel with advanced marine condition monitoring and sensor equipment.
Corvus to Supply Energy Storage for Hybrid Chemical Tanker
Corvus Energy Inc. has announced that it has been selected as the supplier of the lithium ion based energy storage system (ESS) for a new hybrid chemical tanker being built for Rederiet Stenersen AS of Norway. The chemical tanker will be the first vessel of its kind to utilize an ESS for propulsion. Corvus Energy will supply its next generation Orca Energy ESS solution to integrate with WE Tech Solutions’ propulsion system…
Asia's First Hybrid Electric Ferry Heralds Cleaner Sea Travel
The Taiwanese harbor city of Kaohsiung has launched a new hybrid electric ferry, which aims to curb greenhouse and diesel emissions for marine passenger transport across the region. Kaohsiung recently re-launched the Cijian Island passenger ferry, retrofitted with a Visedo electric propulsion system, replacing the original diesel engine. It heralds Asia’s first hybrid electric ferry and, if successful…
Moran Lays Keel for New USFWS Vessel
Sparks are flying on the keel of the $1.9 million, 57-foot aluminum fisheries research vessel for the U.S. Fish and Wildlife Service (USFWS), at Moran Iron Works (MIW). The project was announced in November of 2016 when the two parties met for an inaugural meeting in Onaway. Preliminary design of the vessel was performed by Seacraft Design, LLC, with MIW working to finalize the design and construction drawings.
Quicker and Easier Man Over Board Retrieval
All lifejackets are fitted with a lifting becket, which in comparison with the size of body in rough seas, is like finding a needle in a haystack. Lifesaver is 3 meters of brightly visible yellow line, spliced into a loop with a triangle at one end. The other end is fitted to the lifting becket in an automatic life jacket. When the life jacket inflates, the Lifesaver floats out onto the water and is…
Specialist Man Overboard & Fast Craft Injury Prevention Workshops
A unique program of two one-day events for the sub IMO / sub 80 feet professional sector will be held ‘back to back’ in Southampton, U.K. on April 25 and 26, 2017. The fast moving workshop style program brings together an international group of experts armed with the latest knowledge to identify problems that affect the maritime sector worldwide – and highlight potential solutions. Event organizer and workshop lead John Haynes said…
Legislators Urge Trump to Fund Dredging
A coalition of 75 members of the House of Representatives called on President Trump to fully fund harbor maintenance programs in his upcoming Fiscal Year 2018 budget proposal. The letter, available here, noted that the Water Resources Reform and Development Act of 2014 (WRRDA) called for FY18 harbor maintenance expenditures to equal 74 percent of FY17 Harbor Maintenance Tax revenue. Although the specific…
Radio Holland, Cisco Partner to Spur Maritime Digitization
Radio Holland Group has signed a strategic agreement with American ICT company Cisco. The aim of the cooperation is to help accelerate digitization in the maritime sector by developing and offering maritime ICT solutions such as remote monitoring and diagnostics services, data management and networks on board. Dennis Mol, Chief Operations Officer at the Radio Holland Group, said, “In a challenging…
Coin Ceremony for MSC Seaview
Cruise line MSC Cruises and shipbuilder FINCANTIERI today marked a milestone in the building of MSC Seaview with the celebration of the traditional coin ceremony, held at FINCANTIERI’s Monfalcone shipyard in Italy. MSC Seaview is the third next-generation mega cruise ship that will come into service under MSC Cruises’ 10-year investment plan through 2026. The coin ceremony takes place when a ship’s keel is laid, at the early stages of its construction.
Diana Shipping Signs Time Charter Contract with Caravel
Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Caravel Shipping Limited, Hong Kong, for one of its Panamax dry bulk vessels, the m/v Dione, for a period of minimum nine (9) months to about twelve (12) months. The gross charter rate is US$7,200 per day for the first ninety (90) days of the charter period and US$7,050 per day for the balance period of the time charter…
Star Bulk Carriers Announces Private Placement
Star Bulk Carriers Corp. announced the closing of its previously announced private placement of 6,310,272 common shares, at a price of $8.154 per share. The aggregate proceeds to Star Bulk, net of underwriting fees and offering expenses, were approximately $50.6 million. Star Bulk intends to use the net proceeds for general corporate purposes. Oaktree Capital Management, L.P. and its affiliates and Senator Investment Group LP purchased 6,310,272 common shares in connection to this offering.
CMA CGM Reorganises Its Asia - West Africa Services
In line with the West Africa market trend, CMA CGM Group adapts its service offering while continuing to improve its service reliability and cost efficiency. Withdrawal of WAX 2 service. WAX | Operated by CMA CGM with 12 vessels of 4,350 TEU, will discontinue South Africa and Nigeria calls. Instead, the service will add Abidjan Westbound to its current export call with an improved transit time up to 5 days. Abidjan from Shanghai will be reached in 37 days.
Workshop Promotes Maritime Security Cooperation in Kenya
Kenyan officials involved in maritime law enforcement are taking part in a workshop and scenario-based simulation exercise in Mombassa, Kenya (31 January – 3 February). The International Maritime Organization (IMO)-led event will enhance inter-agency cooperation in the country and promote a whole of Government approach in dealing with maritime security challenges. The workshop, organized with the Kenya Maritime Authority (KMA)…
Egypt LNG Market to Reach 4.5 MMT by 2025
LNG market in Egypt is projected to surpass 4.5 MMT by 2025, due to rising demand from power and industrial sectors in the country, says TechSci Research report. Production of dry natural gas in Egypt declined at a CAGR of 7.17% during 2011-2015. Thus, imports of LNG in the country increased during 2011-2015, and this trend is further anticipated to continue during the forecast period as well. Ministry of Electricity announced capacity addition of 2.25 GW in August 2016…
78% Ships Dismantled in South Asian Beaches
The list of all ships dismantled around the world in 2016, which the NGO Shipbreaking Platform has compiled and analysed, shows no improvements of the shipping industry’s management of its end-of-life vessels. Far from it: the Platform today releases data that indicate an increase in the number of ships sold for polluting and unsafe shipbreaking on the beaches of South Asia. In 2016, a total of 668 vessels were broken on tidal beaches, that is as much as 87% of all tonnage dismantled globally.