Hapag-Lloyd Announces Surprise Dividend After Earnings Double
Container shipping line Hapag-Lloyd announced a surprise dividend to shareholders on Wednesday and forecast a rise in annual earnings this year thanks to synergies from its merger with Gulf peer UASC. Hapag-Lloyd merged with UASC last year, becoming the world's No. 5 container shipper after overcapacity, price wars and freight rates far below break-even levels fanned industry consolidation. The German…
Two Sinopacific-built LEG Carriers Named
Chinese shipbuilder CIMC Sinopacific Offshore & Engineering Co. Ltd. (CIMC SOE) has completed the first two vessels in a series of five liquid ethylene gas (LEG) carrier newbuilds for a Chinese ship owner. The series includes two 17,000- and three 22,000-cubic-meter capacity LEG carriers, with the smaller two vessels named and one delivered during a ceremony on March 28. The delivery marks a significant occasion for the shipyard…
Fincantieri: Strong Growth Ahead but in Line - Kepler
Shares in Italian shipbuilder Fincantieri down 11 pct, on track for worst day in 30 months. Fincantieri also approved its 2018-2022 business plan, targeting an increase…
Hapag-Lloyd Sees Rise in 2018 Operating Profit
German container shipping line Hapag-Lloyd on Wednesday said it expected to improve earnings this year thanks to synergies from the merger with Gulf peer UASC and rising transport volumes.
Vitol Stores Gasoline Aboard Ships off Singapore
Vitol seen storing gasoline off Singapore as local onshore light distillates stocks at record levels. European trader Vitol is storing gasoline on tankers offshore Singapore…
Georgia Ports: Mason Mega Rail Breaks Ground
The Georgia Ports Authority broke ground on its $126.7 million Mason Mega Rail Terminal Monday. The expansion will increase the Port of Savannah's rail lift capacity to 1 million containers per year…
For Seafarers, Net Access is a Must -Report
The Crew Connectivity 2018 Survey Report, sponsored by KVH Industries and Intelsat, shows digital transformation underway in the maritime industry. Roger Adamson…
Navy, Coast Guard Rescue Fishermen Offshore Georgia
The U.S. Navy, along with assistance from the U.S. Coast Guard, rescued three fishermen from a raft 63 miles southeast of Brunswick, Ga. The Coast Guart received…
Rotterdam Begins Deepening of New Waterway
Minister Cora van Nieuwenhuizen of Infrastructure and Water Management and Ronald Paul (COO Port of Rotterdam Authority) gave the official go-ahead for the deepening…
Kalmar to Send Five RTG Cranes to DCT Gdansk Terminal
Kalmar, part of Cargotec, has signed a deal with Deepwater Container Terminal (DCT) Gdansk to supply a total of five electrically powered rubber-tyred gantry cranes…
Apeejay Shipping expands fleet
India's Apeejay Shipping said it has acquired a new Japanese 76,602 MT DWT Gearless Panamax vessel to take its fleet size to nine. The ship has been renamed APJ Kabir Anand.
UK Maritime 2050 Call for Evidence launched
A Maritime 2050 Call for Evidence has been launched by the UK government’s Department for Transport (DfT) to seek the views of both those within and outside the sector.
MSC Says It's Not Targeted By Australia Vessel Ban
Following Australia's move to ban the containership MSC Kia Ora for unpaid crew wages, MSC Mediterranean Shipping Company said in a statement that it does not oversee the maintenance…
Novatek Delivers its First LNG Cargo to India
The Russian natural gas producer, Novatek, has confirmed that it delivered its first shipment of liquefied natural gas (LNG) produced by the Yamal LNG project to India on 27 March.
Diana Shipping Bags TC Contract for Aliki with SwissMarine
Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels, announced that, through a separate wholly-owned subsidiary, it has entered…
IUMI Cautions about Global Marine Insurance
Against the backdrop of encouraging global economic growth and an improved outlook for the shipping industry, the International Union of Marine Insurance (IUMI)…
Poland to Host World Maritime Day Celebration
World Maritime Day is celebrated all over the world and every year International Maritime Organization (IMO) sanctions an official “Parallel Event” to formally mark…
GE Gas Turbines for Japan’s JS Asahi Destroyer
Two GE LM2500 marine gas turbines power the Japanese Maritime Self Defense Forces (JMSDF) newest destroyer JS Asahi (DD119). This first of two new destroyers in the JMSDF’s Asahi-class destroyer program was recently commissioned by the JMSDF. The ship was built by Mitsubishi Heavy Industries (MHI) at its Nagasaki Shipyard & Machinery Works in Japan. “We work in concert with IHI, our longstanding partner in Japan…
NRC Acquires Cleanline
National Response Corporation, a portfolio company of an investment affiliate of J.F. Lehman & Company, completed the acquisition of Cleanline Waste Water Solutions Ltd.
UK Team to Resolve Type 45 Destroyer Power Issues
An alliance team led by BAE Systems has won the contract to resolve propulsion issues that have been plaguing the U.K.’s most advanced air defense warships. The team, which also includes Cammell Laird and BMT, has been tasked to improve the resilience in the Royal Navy’s Type 45 Destroyer power and propulsion system by replacing the existing two diesel generators, fitting an additional diesel generator and modifying the high voltage system on each ship.
