Hapag-Lloyd to Raise Capital Following Merger with UASC
Hapag-Lloyd AG will now carry out the capital increase that was agreed upon as part of the merger of Hapag-Lloyd and UASC. The gross proceeds are expected to amount to approx. EUR 352 million (approx. USD 414 million). The official merger of the two companies occurred on 24 May 2017. At the Annual General Meeting on 29 May 2017, the shareholders approved new authorised share capital for a capital increase.
BPA Calls for Debate on Free Ports Policy
The British Ports Association has called for a new debate on a free ports policy following a report from trade specialists Crowe Clark Whitehill LLP. “Free ports and free trade areas at ports is an interesting concept which many UK ports are looking at. Brexit could mean that new customs and trade opportunities arise and any proposals which make the UK ports and logistics industry more competitive and improves the flow of goods at ports should be welcomed.
IMO's World Maritime Day 2017 Message
The maritime sector, which includes shipping, ports and the people that operate them, can and should play a significant role helping Member States to create conditions for increased employment, prosperity and stability ashore through promoting trade by sea; enhancing the port and maritime sector as wealth creators both on land; and through developing a sustainable blue economy at sea. This is the key message being shared around the world today (28 September)…
APM Terminals Announces New Labor Pool
APM Terminals Gothenburg has signed an agreement with the staffing agency Adecco to hire temporary personnel effective 1 October 2017 to address adhoc extra staffing needs at peak times. “The main work carried out at our container terminal will continue to be performed by our permanent staff. But this collaboration with Adecco enables us to increase reliability and flexibility during those times when we require extra staffing to handle our customer requests in a faster…
What Happens to Maritime Treaties?
Throughout the maritime world, the technical regulations developed and adopted by the International Maritime Organization (IMO) are well known. Shipmasters and officers, as well as expert trainers and educators, spend many hours getting to grips with the knowledge needed to implement and impart the detailed regulations governing ship safety and security and the prevention of pollution from ships. But…
MOL LNG Carrier Rescues Castaways
Mitsui O.S.K. Lines (MOL) has announced that on September 18, the MOL-operated LNG carrier Papua safely rescued four yachtsmen off Port Moresby, Papua New Guinea. Details of the rescue are as follows: In the afternoon of September 17, the Papua received a distress relay message from the Australian Maritime Rescue Co-ordination Centres, while underway toward the Port of Qingdao in China from Port Moresby, Papua New Guinea.
Liability Treaties at Pacific Islands
An International Maritime Organization (IMO)/Pacific Community (SPC) workshop in Fiji is supporting Pacific Island countries (Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu) to implement treaties dealing with liability and compensation. The workshop, taking place in Suva (26-29 September)…
Fuel Imports, Distribution in Puerto Rico Starts to Unclog
Shipments of gasoline and diesel into Puerto Rico have resumed after Hurricane Maria, with ports restarting operations, though there were still long fuel lines around the island on Thursday…
Reps. Hunter, Garamendi Concerned over Jones Act Waiver
Congressman Duncan Hunter (R-CA) and John Garamendi (D-CA), Chairman and Ranking Member respectively of the Subcommittee on the Coast Guard and Maritime Transportation, raised concerns today over the Trump Administration’s decision to issue a 10-day waiver of the Jones Act for relief shipments into Puerto Rico. Hunter and Garamendi held a listening session Thursday morning with other members of the…
C-Job Naval Architects Turns 10
What started as a small naval architectural office 10 years ago has grown into an established and well-respected company. Using various projects and a growing number…
Shipping Operating Costs Declining -Report
Total annual operating costs in the shipping industry fell by an average of 1.1 percent in 2016, says international accountant and shipping consultant Moore Stephens. This compares with the 2.4 percent average fall in costs recorded for 2015. For the second successive year, all categories of expenditure were down on those for the previous 12-month period, most notably for insurance costs and stores.
SUNRUI Appoints US Agent for BalClor BWMS
All Marine Spares said it has been appointed as the official agent in the U.S. for the promotion and sale of the BalClor Ballast Water Management Systems from SUNRUI, a wholly owned subsidiary company of China Shipbuilding Industry Company Limited (CSIC). The SUNRUI BalClor BWMS achieved USCG Type approval certificate in June 2017. SUNRUI BalClor BWMS has achieved type Approvals from CCS, DNV-GL, NK, BV, LR, ABS and RINA.
Conrad Awarded 9-Barge Build Contract
Conrad Shipyard said it has been awarded a contract to build four anchor barges, two deck barges and three crane varges for Great Lakes Dredge & Dock Company LLC (GLDD), headquartered in Oak Brook, Ill. The four anchor barges will be built in Louisiana at Conrad’s Morgan City Shipyard, and the deck and crane barges will be built at its shipyard in Orange, Texas. Conrad Senior Vice President and Director Dan Conrad made the announcement: “We have delivered seven vessels to GLDD since 2003…
Brunswick, Mercury Marine to Aid Mercy Ships
When the Africa Mercy, the world’s largest private hospital ship, provides its next field service in Cameroon, Africa, it will do so with a new dive boat and several new Mercury Marine outboard engines for the ship’s dive and rescue operations thanks to a recent donation from Brunswick Corporation and its engine subsidiary, Mercury Marine. Mercy Ships is a global charity that offers free life-changing surgeries…
Panama Canal Expects 230+ Cruise Ships This Season
The Panama Canal announced that it expects to receive approximately 235 cruise ships through the Panamax and Neopanamax Locks during the upcoming 2017-2018 cruise season. Beginning in October, this will be the first full cruise season to welcome vessels through the Expanded Canal. “In addition to the existing locks, cruise lines now have the option to include the Expanded Canal as part of their itineraries,” said the Panama Canal’s international trade specialist Albano Aguilar.
Trump Waives Jones Act for Puerto Rico Relief
President Trump has waived shipping restrictions for Puerto Rico on Thursday at request of the island's governor Ricardo Rosselló and after an outcry from Congress about the scarcity of fuel, food and emergency supplies following Hurricane Maria. "At @ricardorossello request, @POTUS has authorized the Jones Act be waived for Puerto Rico. It will go into effect immediately," White House Press Secretary Sarah Sanders tweeted this morning. The Jones Act – which limits shipping between U.S.
ABB Digitalizes Maritime Maintenance
ABB has added ‘Fleet Intelligence’ to its ABB Ability Collaborative Operations software, providing marine customers with a single and complete overview of their ship system maintenance needs rather than being faced with piecemeal, standalone reporting solutions. Fleet Intelligence addresses a common shortcoming in ship efficiency, where data from manufacturer manuals provide the basis for the planned maintenance system…
Wison Launches Buoyant Tower Solutions with Storage
Wison Offshore & Marine has developed a new Buoyant Tower solution with condensate or oil storage, adopting Wison’s proprietary Buoyant Tower technology. This floating concept provides a new economic and reliable option for the oil and gas development in the shallow to medium-depth waters. Originally invented by Ed Horton and Lyle Finn, the Buoyant Tower technology was first applied to BPZ CX-15 project offshore Peru when both Ed and Lyle worked for Horton Wison Deepwater Inc.
Matrix Global Plans U.S. Crude Storage Deal
Matrix plans sweet crude storage futures at LOOP. Matrix Global Holdings is planning to start up an oil storage futures contract for low-sulphur crude oil that will enable companies to build up supplies for export cargoes, as Asia looks for more crude imports from the United States. The contract will give holders access to low-sulphur, or sweet, crude oil storage space at the Clovelly, Louisiana, terminal operated the Louisiana Offshore Oil Port (LOOP).
Statoil Charters ULCC to Hold Crude for Asia buyers
Oil storage is feasible with low freight rates, capital costs; backwardation pushes traders to churn oil faster from storage. Norway's Statoil ASA has chartered the last remaining Ultra-Large Crude Carrier (ULCC), the world's largest oil tankers, to store oil off of Malaysia for distribution in smaller parcels to its clients in Asia, company executives said. Statoil has booked the TI Europe, capable of carrying up to 3 million barrels of oil…