Panama Imports Its First LNG Cargo
Panama has imported its first liquefied natural gas (LNG) cargo to commission the newly built $1 billion Costa Norte facility and power plant at Colon, expected to be a launch-pad for LNG trade across Central America.Many utilities in Central America and the Caribbean remain reliant on burning oil to generate electricity, but LNG offers a cleaner, cheaper and more efficient alternative.Shipping data shows the Engie-chartered Provalys tanker arrived last week…
Deutsche Bank Sells $1 Bln Ship Loan Portfolio
Deutsche Bank is selling a $1 billion portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday.Reuters reported last week that the sale of the portfolio was imminent, as the bank draws a line under sour investments in the sector and starts a fresh push in transport lending.Deutsche Bank said it was not exiting ship financing."Following this disposal and other derisking strategies we have implemented…
What Can Beijing Do if China-US Trade Row Worsens?
China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war.Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S. goods over the weekend, a move that itself was in response to additional U.S.
Nils van Vliet Appointed CEO of Railport Antwerp
Railport Antwerp, a joint initiative by Antwerp Port Authority, the Left Bank Development Corporation and the industry associations Essenscia Vlaanderen and VOKA-Alfaport, is to expand its activities.
Feedgas Flows into Sabine Pass LNG Export Plant Drop Again
Feedgas supplies into Cheniere Energy's Sabine Pass liquefied natural gas (LNG) export plant in Louisiana fell again after recovering briefly following a month-long maintenance shutdown affecting one of three production units, data showed on Tuesday.Input levels on the three pipelines serving the facility showed feed levels had fallen to 2,180 million cubic feet/day (mcf/day) on Tuesday after a fall and briefly recovering to a high of 2,860 mcf/day on Saturday.Current inflow levels suggest that
Port and Maritime Officials Gather in Singapore
The fifth run of the MPA Academy Port Management Programme (PMP), aimed at port masters, harbour masters and middle managers from maritime and port authorities,…
Poland's World Maritime Day Parallel Event
How to create better shipping for a better future was a theme running throughout the 2018 IMO World Maritime Day Parallel Event (13-15 June), held in Szczecin, Poland.
ICHCA, IAPH Joins for World Ports Sustainability Program
ICHCA International, the global NGO and membership association for cargo handling operations, technical, HSSE and risk professionals has signed a Memorandum of Understanding…
Shipping Industry Critical Meeting in July on Sulphur Cap
The shipping industry - as represented by its international trade associations (BIMCO, ICS, INTERCARGO, INTERTANKO and WSC) - calls on the Member States of the International…
Global Ship Lease Adds 2,800 TEU Containership
Global Ship Lease, a containership charter owner, announced that the Company has taken delivery of a 2005-built, 2,800 TEU containership, now named GSL Valerie.
IMO Supports Implementing UN SDGS
International Maritime Organization (IMO)'s comprehensive technical cooperation programme supports Member States to implement IMO treaties effectively. This is one…
Containership Tows Disabled Sailboat to Safety
The Amver participating containership CMA CGM Brazil towed a 46-foot sailboat with two sailors aboard to safety in St. Marten after the sailboat reported they were taking on water and disabled approximately 315 miles east north east of San Juan, Puerto Rico on Thursday, May 24, 2018.U.S. Coast Guard rescue authorities in San Juan were notified by two sailors who's boat was taking on water through the rudder shaft.
Great Lakes Group Announces New Management Hires
The Great Lakes Group announced recent new hires to the company’s management team: Thomas Rigolo – Shipyard General Manager; Kirsten Buccigrossi – Director, Marketing & Communications; and Emery Eiber – Quality, Health, Safety, Security, and Environment (QHSSE) Manager.Tom Rigolo is a senior shipbuilding executive with more than 25 years of experience gained from hands-on engineering and high-level leadership roles at several U.S. shipyards.
Newport News Begins Nuclear Sub Overhaul
Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division has begun scheduled overhaul work on the nuclear-powered submarine USS Boise (SSN 764).The Los Angeles-class submarine arrived at Newport News on Monday and will undergo planned maintenance and repair activities pierside before it will be moved to a dry dock in January 2019. The extended engineering overhaul, which includes system upgrades…
ACMF Receives Grant from Former SeaFreight Boss
The American Caribbean Maritime Foundation (ACMF) announced it received a contribution of $150,000 from Mr. and Mrs. Roland Malins-Smith. Mr. Malins-Smith, now retired, is founder of SeaFreight Line Ltd. which was acquired by Crowley in 2015.The ACMF funds scholarships and provides grants for classrooms and other facilities at the Caribbean Maritime University (CMU).Malins-Smith, born in Grenada, began…
Marine Insurance’s Risk Rating Revolution
Why insurers cannot afford to be left behindAccording to Maersk, “everything that can be digitized will be digitized”, and there is no doubt that the world of shipping is currently undergoing a digital revolution. From vessel movement data to port statistics and engine diagnostics and data, the latest technology empowers insurers to segment and optimize their existing portfolio, identify new opportunities and offer truly connected policies.However, risk measurement and ratings remain an issue.
Liberian Registry, China Classification Society Sign MoU
The Liberian Registry has signed a framework cooperation Memorandum of Understanding (MoU) with the China Classification Society (CCS) as the latest step in its strategy to collaborate with long-term key industry stakeholders.Under the terms of the MoU, the Liberian Registry’s technical competence will be employed to help shipyards and shipowners improve their innovative strategies. The CCS MoU has…
Dozens Missing after Ferry Sinks in Indonesia's Lake Toba
An estimated 18 people were rescued and one was confirmed dead from among about 80 passengers aboard a ferry that sank on Monday in Lake Toba in Indonesia's North Sumatra province, a disaster agency o
Damen, Saab Partner for the Tamandaré Class Corvette
In order to meet the needs of the Brazilian Navy, Damen Schelde Naval Shipbuilding and Saab come together to develop the project that will supply four Tamandaré Class corvettes.Damen is a Dutch company and a global leader in shipbuilding that has supplied over 6,000 vessels. Over 20 navies throughout the world operate Damen-built vessels. The company will be responsible for supplying the ship Sigma 10514…
China Investigating Senior Executive at CSIC
China's anti-graft agency said on Saturday it is investigating the general manager of state-owned China Shipbuilding Industry Corp (CSIC).Sun Bo is suspected of serious disciplinary and legal violatio
