France to Nationalize STX if Italy Deal Fails
French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday. The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron. The threat raises the stakes in a standoff with Rome over the shipyard's fate…
Is China Shipbuilding Sinking into Tough Waves?
The world’s largest shipbuilding nation China is facing some tough years ahead as new-vessel orders weaken and order backlogs decline, Caixin reported quoting China Association of the National Shipbuilding Industry (CANSI). According to the industry association, in the first half of 2017, new orders received by Chinese shipbuilders plunged by 29 percent year-on-year in terms of total estimated freight volume for the new ships, the report said.
DP World Reports Q2 10.7% Gross Volume Growth
DP World Limited handled 34.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first half of 2017, with gross container volumes growing by 8.2% year-on-year on a reported basis and 7.7% on a like- for-like basis, with second quarter growth rates accelerating to 10.7% year-on-year on a reported basis and 10.4% on a like-for-like basis, ahead of Drewry Maritime’s upgraded industry estimate of 4% throughput growth in 2017.
Singapore Invests in SatCom to Enhance Maritime Safety
Maritime and Port Authority of Singapore (MPA) and Civil Aviation Authority of Singapore (CAAS) have invested in a new Medium-altitude Earth Orbit Search and Rescue (MEOSAR) ground system to enhance search and rescue capabilities in Singapore’s maritime and aeronautical Search and Rescue Regions (SRRs). The system comprises a ground segment as well as a space segment which deploys Medium-altitude Earth Orbit (MEO) satellites.
CMA CGM Signs Pact with Port of Kribi
The CMA CGM Group is pleased to announce that on July 25, 2017, the official signing ceremony for the concession agreement of the new container terminal was held in Kribi, Cameroon, chaired by the Minister for Transport, Edgar Alain Mébé Ngo’o. Following an international call to tenders, the consortium of the French groups CMA CGM and Bolloré Transport & Logistics as well as the Chinese group CHEC…
Costamare Adds Three Vessels
Costamare accepted delivery of three second hand vessels during the last quarter ended June 30, 2017, said Gregory Zikos, Chief Financial Officer of Costamare. In a press statement he said that the vessels have been chartered for periods ranging from 5 to 7 years. "During the quarter we entered into debt financing agreements for two of them and we are into discussions regarding the debt finance of the third ship.
Truman Completes Sea Trials
USS Harry S. Truman (CVN 75) returned July 25 to its homeport at Naval Station Norfolk for the first time in nearly a year, following the completion of sea trials. "Sea trials is a five-day underway that pushes the limits of the ship; a true shakedown," said Truman's Executive Officer Capt. Cassidy Norman. "Everything we've done for the past year has been building up to this moment. Team Truman navigated through the sea trials checklist completing a number of evolutions…
Hyundai Merchant Marine Asia-US West Coast Volume Up by 77%
Hyundai Merchant Marine (HMM) has announced that its Asia-US west coast (USWC) volume in June 2017 increased 77% year-on-year. According to PIERS Data, HMM’s Asia-USWC handling cargo rose year-on-year from 7,953 TEU/WK to 14,055 TEU/WK (up 77%) at the end of June 2017. Moreover, HMM ranked 4th in terms of market share, up from 12th the previous year. HMM’s Asia-all US route cargo handling also rose year-on-year from 11,626 TEU/WK to 17,291 TEU/WK (up 49%) in June 2017.
ReCAAP, OCIMF Sign Asian Anti-Piracy MoU
The safety of navigation is vital to the safety, security and economic activities of all stakeholders traversing sea routes in Asia—the region with some of the busiest seas in the world. Recognising this shared interest, the Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre and Oil Companies International Marine Forum (OCIMF) signed a Memorandum of Understanding (MOU) on July 24…
Newbuild Orders Drop during H1 2017
Newbuild orders for tankers and bulkers have increased during the first half of 2017, though overall the number of orders placed in all vessel segments has more than halved when compared to the same period in 2015, according to VesselsValue. The most glaring example is in the offshore vessel sector: 50 offshore vessels were ordered in H1 2015, compared to zero orders during H1 2017. Similarly, orders for newbuild containerships…
Abu Dhabi Ports: No Immediate Plans for a Listing
Abu Dhabi Ports has no plans to launch a public sale of shares in the short term, the chief executive of the state-owned company told Reuters on Tuesday. "There are no immediate plans to go public," Mohamed Juma al Shamisi said when asked if the company planned to sell shares and a subsequent listing. His comments came after Bloomberg News reported that Abu Dhabi Ports is considering an initial public offering…
US Navy Ship Fires Warning Shots near Iranian Vessel
A U.S. Navy ship fired warning shots when an Iranian vessel in the Gulf came within 150 yards (137 meters) on Tuesday in the first such incident since President Donald Trump took office in January…
Samskip Scoops up Nor Lines
European multimodal transport provider Samskip said it will acquire activities associated with Nor Lines AS, marking a major expansion of its shipping, transport and logistics businesses in Norway. Subject to approval by Norway’s competition authorities, Samskip has agreed with the DSD Group to acquire the activities of Nor Lines, which generate an average annual turnover of €110 million ($128.2 million).
US-built Liquefied Gas Barge Delivered
Harvest, an ABS-classed articulated tug barge (ATB) purpose-built to transport liquefied anhydrous ammonia, has been delivered to a subsidiary of Savage Companies by U.S. shipbuilder Vigor. Harvest is the first complex liquefied ammonia transport barge built in the U.S. since 1982. “The delivery of this ATB represents a landmark achievement for all of the project stakeholders as well as the U.S. shipbuilding industry,” said ABS Americas Division President Jamie Smith.
The Marshall Islands Move to Head of the Class
Leveraging 27 worldwide offices, the RMI Registry has been gaining market share year-on-year. Surging tonnage and a solid record for safety has pushed the registry to the head of the class. When the Marshall Islands Registry announced that it had become the world’s second largest – at a whopping 223,262,177 deadweight tons – the registry’s leadership was quick to emphasize quality as the leading reason.
Merchant Ship Collides with UAE Navy Vessel
A merchant ship collided with a United Arab Emirates navy boat as it was taking part in a routine mission off UAE territorial waters in the Gulf on Tuesday, the UAE armed forces said.
Satellite-based connectivity has always played a critical role for the maritime sector. As the communications expectations of ship owners, passengers and crews continue to grow, maritime service providers are seeing a transformation in the type and quantity of applications that need to be supported at sea. The advent of VSAT broadband services is driving a shift away from traditional, low-level L-band connections that ship operators have relied upon for decades.
Op/Ed: The Real Story Behind the Attack on SMFF Regulations
ASA Sets the Record Straight. The U.S. salvage industry came under attack at a recent Congressional hearing on May 3 by a special commercial interest that is promoting its own agenda. The American Salvage Association (ASA) intends to set the record straight. At the hearing, the attacking group made false allegations that the Salvage and Marine Firefighting (SMFF) resource providers are not willing…
Vroon W2W Vessel Upgraded ahead of First Charter
VOS Start, Vroon BV’s first DP2, subsea-support, walk-to-work (W2W) vessel has departed Damen Shiprepair Oranjewerf following the installation of a first of its kind motion-compensated gangway system by Barge Master and Bosch Rexroth, the extended installation of a Kongsberg reference system (including a ‘windfarm module’), and an active heave-compensated crane from SMST. The 80m VOS Start arrived at Oranjewerf on June 1 from her build yard in China…
Baltic Index Firm on Capesize Support
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, supported by higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.31 percent, at 980 points. The capesize index jumped 50 points, or 4.27 percent, to 1,221 points. Average daily earnings for capesizes…