COSCO to Buy OOCL for USD 6.3 bln
Chinese Shipping Major Cosco Group has agreed in principle to buy its shipping rival and Hong Kong’s No. 1 box mover, Orient Overseas Container Line (OOCL), in deal that could be valued around USD 6.3 billion. The takeover will catapult Cosco the world’s third-biggest container carrier after Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Co. In a press release, the State-owned Cosco said that it will pay shareholders of OOCL…
Egypt Bans Qatari Ships Docking in Suez Canal
The Suez Canal Authority is committed to a ban on allowing Qatari ships to dock in ports within the Suez Canal’s economic zone, Ahram reported as chairman Mohab Mamish saying. In press statements on Friday, Mamish said that Egyptian ban on the ships is being imposed on all ports within the zone based on Egyptian sovereignty over its territorial waters. The decision, however, does not include a ban on passing through the canal…
Ocean Conservancy Calls for Clean Arctic
“Ocean Conservancy welcomes steps taken by the International Maritime Organization to mitigate risks to the Arctic from the use and carriage of the world’s dirtiest fossil fuel. “Support for Measures to Reduce Risks of Use and Carriage of Heavy Fuel Oil as Fuel by Ships in Arctic Waters marks an important milestone in the bid to phase out the use of heavy fuel oil in the Arctic. “With climate change…
Alexandria is Bahri’s New Direct Port Call in Egypt
Bahri Logistics, one of the top 10 breakbulk carriers in the world and one of the six business units within Bahri, has added Alexandria to its portfolio of ports in Egypt. The addition of Alexandria will enable Bahri to offer breakbulk and ro/ro transportation service on its North American itinerary from key US ports to Alexandria and from Alexandria to the Middle East and India. “Alexandria is our third direct port call in Egypt after Suez and Port Said.
Greece, Bulgaria to Create Multimodal Corridor Between Ports
Bulgaria and Greece agreed to expand Multimodal Freight Corridor Between Black Sea, Aegen Sea and Dunabe. Bulgarian Minister of Transport, Information Technology and Communications Ivaylo Moskovski and Greek Minister for Infrastructure, Transport and Networks Christos Spirtzis have agreed to extend the multimodal transport corridor between the two countries connecting the ports of Varna, Burgas, Kavala and Alexandroupoli.
IMO Edges Towards Decarbonisation Objective
The UN's shipping body has settled on the main elements of an interim strategy aiming to decarbonise the sector, said a press release from Seas at Risk. Over 170 countries meeting at the International Maritime Organisation in London had some substantive discussion on objectives and ways to decarbonise shipping resulting in a 7-step outline that now needs to be developed into an interim plan due in 2018.
Clean Arctic Alliance Welcomes IMO Action on Arctic HFO
As the International Maritime Organization’s (IMO) Marine Environment Protection Committee (MEPC 71) concluded on last Friday, the Clean Arctic Alliance welcomed the support from Member States for a proposal to identify measures which will mitigate the risks posed by the use of heavy fuel oil (HFO) in Arctic waters, and called on the IMO to work towards a swift conclusion of the work. The proposal…
Training Flight Deck at Sea Comes to Australia
Australia’s new multirole aviation training vessel MV Sycamore has recently arrived in Sydney. Designed to support Defence helicopter training, having been launched in Vietnam in August 2016, built by Skelder and overseen by Serco Defence, the 94-metre ship is a flight deck equipped sea-going training vessel for the crews of most types of helicopters used by the Australian Defence Force. Captain Al Whittaker said building of the Damen-designed steel ship began in 2015.