DMCC, Maersk Team up on Shipping Solution
Dubai Multi Commodities Centre (DMCC), the world’s leading Free Zone for trade and enterprise in Dubai, has teamed up with Maersk Trade Finance to offer a ‘one-stop-shop’ solution that handles both the flow of goods and financing. The requirement was raised by DMCC’s Food Trade Group, set up in October 2016, an industry group aimed at growing the global food trade industry by connecting financiers and traders alike.
ECSA Supports IMO
European Community Shipowners' Associations (ECSA) representing the European shipowners believe that continuous progress was made last week at the International Maritime Organisation’s (IMO) intersessional meeting of the Marine Environment Protection Committee (MEPC). The meeting has further built on an initial strategy for reducing CO2 emissions from the international shipping, which the next MEPC meeting should adopt it in 2018.
DryShips Announces VLGC Time Charter
DryShips, a diversified owner of ocean going cargo vessels, announced that, on November 5, 2017, its third Very Large Gas Carrier commenced its time charter on a fixed rate with ten years firm duration to an oil major trading company. The Company expects a total gross backlog associated with this time charter of up to $103.8 million. DryShips owns a fleet of (i) 13 Panamax drybulk vessels; (ii) 4 Newcastlemax drybulk vessels…
Singapore Revokes Transocean Oil's Bunker License
The Maritime and Port Authority of Singapore (MPA) has revoked the bunker supplier and bunker craft operator licences of Transocean Oil Pte Ltd, with effect from 6 November 2017. Transocean will no longer be allowed to operate as bunker supplier and bunker craft operator in the Port of Singapore. As part of MPA’s ongoing regulatory efforts to ensure the integrity of bunkering in Singapore, checks were conducted on Transocean in March and April this year.
Scorpio Bulkers Acquires Four Vessels
Scorpio Bulkers, announced that it has entered into two separate agreements with unaffiliated third parties to acquire three Ultramax dry bulk vessels and one Kamsarmax dry bulk vessel. The deal was for an aggregate of $90 million, of which $77.1 million is payable in cash and the remaining consideration is in the form of approximately 1.592 million common shares of the Company to be issued to one of the sellers.
Port State Control Regimes Move to Boost Collaboration
The port State control regimes which carry out inspections on ships to monitor and enforce compliance with international regulations have pledged to strengthen their collaboration with the International Maritime Organization (IMO) and amongst themselves. A recent workshop (24-26 October) for port State control (PSC) MoU/Agreement Secretaries and Database Managers and Member States, the seventh of its kind, was held at IMO headquarters in London, United Kingdom.
Upbeat Outlook for Dry Bulk Charter Rates
Drewry expects dry bulk shipping charter rates to recover from the second quarter of 2018 on the back of strengthening Asian iron ore demand, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. For the medium and long term, Drewry holds the same views as in previous forecasts. Chinese steel production is expected to pick up pace at the end of winter, in the second quarter of next year, by which time production curbs will have relaxed.
IMO Updates COP23 on Climate Change Work
The progress made in starting to shape a draft comprehensive International Maritime Organization (IMO) strategy on reduction of GHG emissions from ships has been reported to the COP 23 climate change conference, meeting in Bonn, Germany (6-15 November) by IMO’s Stefan Micallef. He reported that more than 2,600 ocean-going ships have now been certified to the mandatory energy efficiency design requirements, which have been in force since 2013.
Latvian Delegation Visits JNPT
Jawaharlal Nehru Port Trust (JNPT) at Mumbai hosted a high-level delegation led by the Prime Minister of Latvia Mr Maris Kucinskis, on 4th November, 2017 . The delegation was on a five day visit to India starting 2nd November, 2017, during which the Latvian PM also met Prime Minister Shri Narendra Modi. The delegation was given a detailed tour of the port to observe various port operations and the implementation of various Ease of Doing Business initiatives.
Darwin Farewells Namesake City
HMAS Darwin has completed her final port visit to Darwin, farewelling the city by exercising the right to Freedom of Entry and showcasing her capability to thousands of locals. The six-day port visit included a ceremonial gun salute on arrival, the Freedom of Entry parade, an open day and various public performances by the Royal Australian Navy Band. Commanding Officer Darwin, Commander Phillip Henry…
YANMAR EVO//CENTER Opens in Georgia
National, state and local officials joined together with YANMAR America and its honored guests to officially open the YANMAR EVO//CENTER located at the corner of Highway 92 and Old Alabama Road in Acworth, Georgia. Situated on 50-plus acres of land in Cherokee County, the new 50,000 square foot facility opened on November 3, 2017 features six state-of-the-art product training labs with classroom and hands-on space…
Recent Vessel Sales: October 2017
Vessel sales for October 2017 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. 10/29 - COASTAL NO.
Launch: MarTID - the Global Maritime Training Insights Database
MarTID – the Maritime Training Insights Database -- a historic initiative to study global maritime training practices -- launches today. There is broad agreement that as much as 80% of maritime accidents involve human factors causes. As such, top vessel operators and maritime training centers are pouring significant resources into creating best practice and innovative training programs. This is good.
Ontario Orders Two New Ferries
The Government of Ontario has signed a contract with Damen Shipyards Group for the design, build and delivery for two “road” ferries to operate in the Canadian waters of the Great Lakes from 2019 and 2020. The new ferries will be a 68-meter Damen Road Ferry 6819 and a 98-meter Damen Road Ferry 9819, both designed in-house by Damen and fully customized for the local infrastructure. Although one vessel is 30 meters longer than the other…
Op/Ed: Facts Do Matter - A Defense of the Jones Act
I recently read a story in The New Yorker – but that sounds more intellectual than what really happened, let me start over. I recently clicked a link on Facebook, which sought to explain why the term “Fake News” has become so popular. The article claimed that facts no longer matter to the average voter. As evidence (yes, the article explaining why facts don’t matter included evidence), it detailed a study whereby the subjects had been given false information…
Managing Change the AVEVA Way
In today’s marine-scape of declining newbuild activity, many boatbuilders are seeking to buoy up productivity by reducing time to market. But how do you go about contracting intricate concurrent design and production flows without loss of quality, let alone the risk of production spiraling out of control? The general tendency is to overlap design phases. However, this potentially creates a greater number of uncertainties.
The ‘Ag Coast’ of America
St. Louis Region’s Agriculture Freight Network Poised for Growth as Handling Capacity Increases along a 15-mile section of the Mississippi River. Located in the heartland of America, one 15-mile section of the Mississippi River in the St. Louis, Missouri, region delivers the highest level of grain barge handling capacity anywhere along the Mississippi River. Known as the “Agriculture or Ag Coast” of America in terms of barge transfer facilities for agricultural products…
Speedcast Launches SIGMA Gateway Xtreme
Speedcast International Limited, provider of fully managed, remote communication and IT solutions, has announced the release of SIGMA Gateway Xtreme, a new network…
Water Needs Exceeded with FCI Watermakers Posideon+
FCI Watermakers' high-output Poseidon+ exceeds the average water needs of a commercial vessel. Designed to run 24/7 with low maintenance overhead and costs, it reliably produces 54–103m3/14,265–27,210 gallons of pure, fresh water every day. The Poseidon+ is engineered to meet the rigorous demands of a commercial marine application. Engineered and built in the U.S., it boasts a continuous-duty direct…
Great Lakes Limestone Trade Climbs in October
Shipments of limestone on the Great Lakes totaled 3.65 million tons in October, an increase of 10.6 percent compared to a year ago, according to the Lake Carriers' Association (LCA). October’s loadings were also 7.5 percent ahead of the month’s five-year average. Loadings from U.S. quarries totaled 3 million tons, an increase of 11.1 percent compared to a year ago, while shipments from Canadian quarries totaled 665,000 tons, an increase of 8.4 percent over a year ago, LCA said.