Maybulk to Sell its Stake in POSH
Malaysian Bulk Carriers Bhd (Maybulk) plans to sell its entire 21.23% stake in Singapore-listed PACC Offshore Services Holdings Ltd (POSH) to its own shareholders, reported The Star. According to the report, Maybulk seeks to raise cash to pay for new vessels and cut down its debts. It also seeks to raise funds to strengthen its future operations in the dry bulk sector. Maybulk said the proposed disposal will enable the group to focus on its core business activity in the dry bulk sector.
Pacific Calls For Decarbonising Shipping By 2050
In a comprehensive analysis of what is needed to decarbonise international shipping by 2035, the report recommends setting a clear, ambitious emissions-reduction target to drive decarbonisation of maritime transport, supporting the realization of emissions-reduction targets with a comprehensive set of policy measures and providing smart financial incentives to advance the decarbonisation of maritime shipping.
Abu Dhabi Ports, EGA Open Freight Station at Khalifa Port
Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, and Abu Dhabi Ports have opened a facility which will reduce trucking of EGA’s aluminium within Khalifa Industrial Zone Abu Dhabi (KIZAD) by over 290,000 kilometres per year, reducing costs and environmental emissions. The new container freight station will be used to load metal into containers for transfer onto ships for export.
TI Blames IMO’s Weak Governance on Climate Change Action
Weak governance at the International Maritime Organization (IMO) is delaying the shipping sector’s action on climate change, according to Transparency International. IMO is at risk of unresolved conflicts of interest due to shortcomings in its governance, according to preliminary key findings of a new study by Transparency International. Private shipping-industry concerns could have undue influence over the policymaking process at the IMO, concluded the anti-corruption organisation.
Maersk Line New Services at Kakinada Port
Maersk Line India announced the introduction of Export and Import service offerings at Kakinada port in Andhra Pradesh. This End to End service (Store Door) will enable customers in the region to reach global touch points. With this first time offering in Kakinada, Maersk Line will be able to containerize cargo at its origin, cut out wastage and complexities of dealing with multiple vendors and help move it to port in a cost-effective manner.
TFI International Buys Normandin Transit
North American leader in the transportation and logistics industry TFI International acquired Normandin Transit. Based in Napierville, Quebec, Normandin has grown rapidly since its founding in 1988 by focusing on the transportation of less-than-truckload and full truckload freight shipments to and from any U.S. or Canadian destination. Normandin operates a young fleet of over 300 tractors and 1,000 trailers.
Scorpio Bulkers Gets Loan for Kamsarmax
Monaco-based international shipping company Scorpio Bulkers said it has received a commitment for a loan facility of up to $12.75 million from a leading European financial institution to finance the Company’s Kamsarmax bulk carrier. The bulker will be delivered from Jiangsu New Yangzijiang Shipbuilding in China in the third quarter of 2018. The loan facility has a final maturity date of five years from delivery and bears interest at LIBOR plus a margin of 2.40% per annum.
Drewry Predicts Modest Growth for Container Shipping
The outlook for the container shipping market in 2018 and 2019 is a combination of healthy demand growth that will outpace the fleet; resulting in a better supply-demand balance and slightly higher freight rates and profits for carriers, according to the latest edition of the Container Forecaster published by global shipping consultancy Drewry. “The bad news for carriers is that they are unlikely to see the very strong demand growth rates of early 2017 for the foreseeable future.
Main Iron Works Building New Towboats for Kirby
Houma, La. shipbuilder Main Iron Works has secured contracts to build four inland push boats for Kirby Inland Marine. The four 2680 BHP twin propeller conventional towboats will measure 88’x35’x12’2” and will join Kirby’s inland towboat fleet for the transportation of a variety of petrochemicals, refined products, oils and liquid fertilizers. Work on the new vessels is already underway, with completion dates scheduled between August and December 2018.
Concussed Ro/Ro Crewman Medevaced
A 27-year-old crew member reportedly suffering from concussion-like symptoms was medevaced from a commercial Ro/Ro vessel approximately 14 miles east of Lake Worth Inlet, Fla. U.S.
TORM Orders MR Tanker Trio at GSI
Danish ship owner TORM exercised options for the construction of three MR newbuildings at Chinese shipyard Guangzhou Shipyard International (GSI) for expected delivery in 2019 through first quarter of 2020. The three newbuilds will cost $93 million. TORM said it has secured commitment for vessel financing of up to $63 million from KfW and ABN AMRO, subject to loan documentation. “The vessels are attractively priced when comparing to the current market…
FLIR Helps Keep One of Canada’s Largest Ports Safe
As Canada’s second largest container port and North America’s fastest growing port for transpacific trade, the Port of Prince Rupert in British Columbia is committed to providing mariners with safe, efficient and productive port operations. To ensure the port operates safely and securely, rotating crews work day and night aboard the Charles Hays patrol boat, a vessel fitted with a full complement of FLIR thermal and Raymarine navigation technologies.
Macquarie, Goldman Sachs to Buy HES International
Infrastructure funds managed by Macquarie and Goldman Sachs have agreed to buy Dutch port terminals operator HES International from owners Riverstone and The Carlyle Group, they said on Tuesday.
Lessons Learned from the El Faro Casualty
The U.S. Coast Guard has issued an alert informing operators of the role that the main propulsion lube oil system was found to have played in the 2015 sinking of U.S. cargo ship El Faro. All 33 crew on board died when the 790-foot El Faro sank close to the eye of Hurricane Joaquin near the Bahamas on October 1, 2015, while en route from Jacksonville, Fla. to Puerto Rico. Loss of propulsion during extremely heavy weather was revealed as a major contributing factor to the vessel’s sinking…
Torqeedo Powers Electric Workboat Fleet in China
The City of Suzhou in eastern China has deployed a fleet of electric workboats powered by Torqeedo motors as part of a program to clean up its canals and waterways. The ancient city of Suzhou, located in Jiangsu Province near Shanghai, is home to more than 10 million people. Often called the “Venice of the East” the 2,500 year old city is noted for its many canals, rivers, lakes, ancient stone bridges, pagodas and gardens.
Plibrico, NMBS Partner for Cruise Ship Repair
Plibrico, an industry leader in monolithic refractories, and maritime repair specialist Nordic Made Boiler Services, Inc. (NMBS), announced a global strategic partnership to deliver retrofit supplies and services to the world's cruise ship operators. With the partnership, NMBS will use Plibrico's Plico brand refractories in the retrofitting of cruise ship boilers and waste incinerators needed to ensure passenger safety and comfort.
Goltens Bolsters Middle East and India Teams
Several senior staff members have stepped up in the latest round of promotions at Goltens Worldwide. Goltens appointed Pravin Kirolikar to the position of Managing Director of Goltens Dubai. Kirolikar makes the move from Goltens India, where he served as Managing Director for eight years. Starting his career as a professional marine engineer, Kirolikar sailed for 13 years before going ashore to work as a marine surveyor for the Indian Register of Shipping.
Baltic Index Slumps On Weaker Vessel Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday to eight-month lows as rates dropped across vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 39 points, or 3.7 percent, at 1,016 points, its lowest since Aug. 2, 2017. "The current weakness is not particularly surprising – the real surprise is that the weakness comes this late…
Indonesia to Postpone New Coal, Palm Oil Shipping Rules to 2020
Indonesia will postpone until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, Industry Minister Airlangga Hartarto said, among efforts to increase foreign exchange reserves. The rules, due to take effect this month and intended to boost the archipelago's shipping industry, were initially postponed in February after raising concerns in coal and palm oil industries over the availability of local vessels.
Boreas Maritime Names Bounin Operations Director
Netherlands based full-service crewing agency Boreas Maritime has appointed Pascal Bounin as Operations Director as the company ramps up for projected growth from 2018 and beyond. In addition, Eric Nijman has been named Senior Account Manager. Both men joined the company April 1, 2018 and bring professional experience in the crewing industry to their roles at Boreas Maritime. “There couldn’t be a better time for Boreas Maritime to add both Bounin and Nijman to the team…