China's Soybean Imports Slide 12%
China's April soybean imports fell 12% from a year earlier, customs data showed on Thursday, with analysts citing the impact of bad weather delaying cargoes from top supplier Brazil.China, the world's top soybean buyer, brought in 6.714 million tonnes of the oilseed in April, down from 7.64 million tonnes a year ago, according to data from the General Administration of Customs.Rains in late February held back the harvest and exports in Brazil…
Italy Detains Migrant Rescue Ships
Italian coastguards have seized two charity rescue boats at the port of Palermo citing "technical and operational" irregularities, which the owners called an excuse to hinder missions to save the lives of migrants at sea.The seizure of the German-flagged Alan Kurdi and Spanish-flagged Aita Mari this week followed a sharp rise in the number of migrants reaching Italy, which has angered and embarrassed…
DP World Launches $9 Billion Financing
UAE global port operator DP World has launched a $9 billion financing into a targeted syndication process involving less than 10 banks, according to banking sources.The financing, which backs the borrower's privatization, was expected to sell down in a general syndication, but instead DP World decided to offer the deal to a select group of relationship banks.“(The deal is) going out to less than ten…
Eighth Lifting Lug Installed on Golden Ray Wreck
T&T Salvage installed the eighth lifting lug on the M/V Golden Ray, a roll-on, roll-off vessel that ran aground and overturned near the Port of Brunswick in Georgia in September.In total, 16 lugs will be installed: two on each of the eight sections of the Korean-owned car carrier, which rests on its side in St. Simons Sound.The Golden Ray will need to be dismantled in place and removed in pieces because the vessel…
Injured Tanker Crewman Medevaced Off Texas
The U.S. Coast Guard medevaced an injured crewmember from a Greece-flagged oil tanker approximately 39 miles offshore Port Aransas, Texas, Wednesday afternoon.Coast Guard Sector/Air Station Corpus Christi watchstanders received a request for medevac from the captain of the 274-meter Cap Guillaume for a crewmember who suffered an arm injury. Watchstanders consulted with the duty flight surgeon who recommended…
Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to…
Euronav Posts Record High 1Q Results
Leading tanker operator Euronav posted record high first-quarter results on Thursday and expects strong demand for oil storage at sea to continue in 2020, driving its shares up 8.5%.The world is still struggling with an oil glut due to a drop in demand caused by the coronavirus even after top oil producing countries have cut output. The glut has prompted a scramble to find storage options on land and sea.Hugo De Stoop…
Hyundai Heavy Bags $122M Order for Two Oil Carriers
South Korean shipbuilder Hyundai Heavy Industries has said it has won an order to build two crude oil carriers.In a brief statement on the Korea Exchange, Hyundai said the order was worth 149,8 billion South Korean Won, or $122,2 million.Hyundai Heavy Industries said it would build the two crude oil carriers for a European client. It did not provide further details on the client.The deliveries are to be made by mid-February 2022.
Wison Offshore & Marine's LNG Carrier Design Gets DNV GL AiP
China's Wison Offshore & Marine's 200K LNG Carrier (“200K-LNGC”) design has received Approval in Principle from DNV GL.Wison Offshore & Marine said its design offers "an enhanced cargo capacity and greater efficiency."Wison’s 200K LNGC with an overall length of 300 meters holds 200,000 cubic meters cargo capacity (Mark-III FLEX membrane tank). It would be equipped with a WinGD6×72DF dual-fuel engine with lower emission of NOx…
Port of Los Angeles 2020 Cargo Volume Down 15.5%
Cargo volume at the Port of Los Angeles is down 15.5% so far this year as the novel coronavirus upends economies around the globe, Gene Seroka, executive director of the busiest U.S. seaport, said on a webcast on Wednesday.April volume was down 6.5% year-over-year as the financial and human toll of the pandemic come into focus in the United States and around the globe.Consumer demand for non-essential…
Alfa Laval Maintains BWTS Production Despite COVID-19
Having quickly adapted to the ongoing COVID-19 pandemic and lockdown measures from the Danish government, Alfa Laval said its Aalborg, Denmark factory continues to meet global production demands for its PureBallast 3 ballast water treatment systems – and has even surpassed expectations.“While the world has slowed down, the implementation of the ballast water management convention remains unchanged,” said Peter Sahlén, Head of Alfa Laval PureBallast.
Will FMC's New Demurrage & Detention Rules Aid NVOCCs?
On April 28, 2020, the Federal Maritime Commission (FMC) released the long-awaited interpretive rules in Docket No. 19-05 relating to how ocean common carriers may lawfully apply demurrage and detention charges to exporters, importers and ocean transportation intermediaries, including Customs brokers in certain circumstances and still be compliant with the “reasonableness” requirement of 46 U.S.C § 41102(c).
Norwegian Cruise Line Secures $2.2 Bln Funds
Norwegian Cruise Line Holdings Ltd has raised over $2.2 billion through debt and equity offerings, giving the cash-strapped cruise operator much-needed funds to survive extended voyage suspensions due to the COVID-19 pandemic.The company warned on Tuesday that it might not have funds to keep its business running for the next 12 months.
China Exports, Imports Set to Plummet
China’s exports and imports are expected to record double-digit declines in April after a tentative recovery in March as the coronavirus pandemic batters global demand and disrupts manufacturing supply chains, a Reuters poll showed on Wednesday.The pessimistic projections reinforce concerns that the collapse in global demand will restrain the recovery in the world’s second-biggest economy as it gets…
US Rearms to Nullify China's Missile Supremacy
As Washington and Beijing trade barbs over the coronavirus pandemic, a longer-term struggle between the two Pacific powers is at a turning point, as the United States rolls out new weapons and strategy in a bid to close a wide missile gap with China.The United States has largely stood by in recent decades as China dramatically expanded its military firepower. Now, having shed the constraints of a Cold War-era arms control treaty…
AAM Launches 78' Catamaran Tour Boat
Shipbuilder All American Marine, Inc. (AAM) launched the first of two 78-foot aluminum catamarans for Seattle-based customer Great Western Attractions (GWA), who will operate the passenger excursion vessels in Puget Sound. The second vessel is on track to be launched in June.Designed by Teknicraft in Auckland New Zealand, these identical Subchapter T certified vessels were constructed at AAM’s 57,000 square foot facility on Bellingham Bay…
Wärtsilä to Cut 700 Jobs in Ship Unit Revamp
Finland's Wärtsilä plans to cut 700 jobs globally as the Finnish engineering group splits its ship technology business into three separate business units."Even though the timing is challenging, implementing the new organisation and modus operandi fast is important for Wartsila's future success," Vesa Riihimaki, head of Wärtsilä's Finnish operations said in a statement.Wärtsilä said 220 of the 700 job cuts would happen in Finland.($1 = 0.9229 euros)(Reporting by Tarmo Virki, editing by Louise Hea
Hapag-Lloyd Seeks Savings to Offset Coronavirus Losses
German container line Hapag-Lloyd is to implement cost cuts to take account of the coronavirus crisis, its chief executive Rolf Habben Jansen said on Wednesday.In a call with reporters, he said the Hamburg-based firm, the world's fifth largest shipping operator, would seek cost cuts by a "mid three-digit million euro sum this year."A slump in demand and a bunching of shipments due to a disruption in global logistics meant reduced port calls and empty sailings on certain routes, while costs to ha
National WISTA Associations Offer Free Membership for Seafarers
The Women’s International Shipping and Trading Association announced a new initiative aimed at helping seafarers.WISTA Norway, WISTA UK, WISTA Singapore, WISTA Brazil, and WISTA Argentina have come together to offer free WISTA membership for seafarers through August 31, 2020. Membership allows seafarers to access the largest network of female managers in the shipping industry, as well as online seminars, webinars and workshops.
Sailors' Society Launches COVID-19 Helpline
International maritime welfare charity Sailors' Society has launched a dedicated helpline for seafarers and their families.The confidential, 24 hour service is there to offer support and welfare to those worried or adversely affected by the coronavirus pandemic.Sandra Welch, the charity's COO and director of program, said: “We’ve seen an increase in calls for help and advice of late and there’s a lot of uncertainty…
