Hapag-Lloyd Cutting Costs as Fuel Prices Rise
German shipping company Hapag-Lloyd is cutting costs to cope with a rise in fuel prices that led it to slash full year earnings forecasts last month, its chief executive told shareholders on Tuesday."Major cost positions have risen more than initially expected and are pressuring operating margins," CEO Rolf Habben Jansen said in Hamburg."We are responding short-term to this development through forceful cost management and will keep Hapag-Lloyd competitive this way…
Wärtsilä 34DF Engine Awarded EPA Tier III Certification
Wärtsilä marks another milestone for its Wärtsilä 34DF dual-fuel engine.The 34DF engine has been awarded the U.S. Environmental Protection Agency’s (EPA) Tier III certification for diesel mode operation when installed together with the Wärtsilä NOx Reducer (NOR) system, a selective catalytic reduction (SCR) system that converts nitrogen oxides (NOx) with the aid of a catalyst into diatomic nitrogen…
Liftboat Milaha Explorer Deployed off West Africa
Qatar-based maritime and logistics conglomerate Milaha said its liftboat Milaha Explorer has been deployed off the coast of West Africa as part of a long-term charter with a major international oil company.Milaha’s President and CEO, Abdulrahman Essa Al-Mannai, said, “Over the past few months, we have been significantly ramping up our operations, and I am pleased to announce further growth in our geographic footprint and operational portfolio with this long-term deployment…
MAN to Deliver Propulsion for Pasha’s LNG Containerships
MAN Energy Solutions said it has won an order to provide the propulsion systems for two new liquefied natural gas (LNG) fueled containership newbuildings, which will join the fleet of Pasha Hawaii, the U.S. Jones Act carrier in the Hawaii trade lane.Each system will comprise a 7S80ME-GI Mk 9.5 main engine, three MAN 6L35/44DF GenSets and an MAN Alpha FPP propeller system. The 2,525-teu vessels will be constructed at the Keppel AmFELS yard in Brownsville…
Baltic Index Falls on Weaker Capesize Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for the second straight day on Tuesday due to lower capsize rates.* The overall index - which factors in rates for capesize, panamax and supramax shipping vessels - fell 54 points, or 3.4 percent, to 1,555 points.* The capesize index fell 224 points, or 7.4 percent, to 2,792 points.
Hapag-Lloyd CEO: No Big Shipping Mergers at Moment
The chief executive of German container shipping liner Hapag-Lloyd said he was not aware of major merger activities in the sector a day after a Reuters report said his company had been approached by French rival CMA CGM."We do not see major takeovers in the industry," Rolf Habben Jansen said in a statement issued on the day of the firm's annual general meeting in Hamburg."If at all, there are smaller tie-ups by niche players in the short term," he said.(Reporting by Vera Eckert Editing by Arno S
DHT Orders Scrubbers for 12 VLCCs
DHT Holdings, Inc. will have exhaust gas cleaning systems, also know as scrubbers, retrofitted on a dozen of its tanker vessels ahead of the IMO Sulphur Cap due to enter force January 1…
World Maritime Day Theme 2019: Empowering Women
"Empowering Women in the Maritime Community" has been selected as the World Maritime Day theme for 2019. This will provide an opportunity to raise awareness of the importance of gender equality…
BW Group Acquires Higher Stake in Hafnia Tankers
BW Group has entered into a definitive agreement to buy a 36.3% stake in Hafnia Tankers, a shipping company formed by the management team of former Tankers Inc.
HoogTij to Build Deep-sea Quay
The construction of a 900-metre-deep deep-sea quay near the HoogTij business park along the North Sea Canal is set to begin this summer. HoogTij is divided into…
Seanergy Maritime Holdings Refinances Two Capesize Vessels
Seanergy Maritime Holdings announced that it has successfully completed the refinancing of a previous loan facility secured by M/Vs Lordship and Knightship. Both…
Costamare Orders Five Newbuild Boxships from Jiangsu Yangzijiang Shipbuilding
Costamare announced the conclusion of shipbuilding contracts and long term charter agreements for five newbuild containerships, as well as the acquisition and chartering…
IEnova to Build Liquid Fuels Project in Sinaloa, Mexico
Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova (IEnova), has been awarded a 20-year contract by the Topolobampo Port Administration…
Scorpio Bulkers Refinances Ultramax Vessel
Scorpio Bulkers announced that the Company has entered into a financing transaction in respect of one of the Company’s Ultramax vessels with an unaffiliated third party.
Bollinger: New Icebreakers Could be Built in Florida
As the U.S. Coast Guard continues planning for the construction of the new icebreakers it desperately needs, U.S. shipbuilder Bollinger Shipyards says it has a facility suitable to build them.Bollinger says it has selected Tampa Shipyard for the design and construction of up to three heavy polar icebreakers, and three additional medium sized icebreakers under consideration by the U.S. Coast Guard.“We…
Interview: John Canada, President, Ocean5 Naval Architects
John Canada founded Ocean 5 Naval Architects in 2007, arguably the worst time in history to start a maritime company as the industry was just entering the worst downturn in a generation. But more than 10 years later, and with the industry still in recover mode, Canada and his company are still standing. Ocean5 has become synonymous with sportfish, luxury, performance and composite high speed small craft naval architecture…
New Tug Delivered to Svitzer Australia
Damen Shipyards Group has delivered a new ASD Tug 3212, Svitzer Glenrock, as the second part of a two-vessel order placed by Svitzer Australia.The tug sailed on its own keel from Damen Song Cam Shipyard, Vietnam to Newcastle, NSW, where it will work in the world’s busiest coal port, handling Cape-class bulk carriers and petroleum tankers as they enter and leave the confines of the harbor.Svitzer operates one of Australia’s largest fleets of tugs, comprised of more than 85 vessels.
OP/ED: The 2020 Sulfur Cap – Growing Pains or Mass Hysteria?
At the stroke of midnight on January 1, 2018, the global shipping industry will be expected to comply with the IMO agreed upon 0.5% sulfur cap for bunker fuels with few waivers available.For vessels which have installed scrubbers, higher sulfur fuels may continue to be used. IMO’s recent agreement on the ban of carriage of non-compliant fuel assures that cheating will not be allowed providing that…
Chinese Rescue Diver to Receive IMO Bravery Award
A rescue diver from China who made a series of underwater dives to rescue three people from a sunken cargo ship will receive the 2018 IMO Award for Exceptional Bravery At Sea.A Panel of Judges decided that the rescue merited the highest award. The decision was endorsed by the IMO Council at its 120th session in London (2-5 July).Following a collision with another ship, in Guangzhou Port, China, in the early morning of November 27, 2017, the bulk carrier M.V.Jin Ze Lun sank.
Eastern Conducts OPC Final Critical Design Review for USCG
Eastern Shipbuilding Group (ESG) said it has conducted its Final Critical Design Review (FCDR) with the U.S. Coast Guard on June 29, 2018 for the Offshore Patrol Cutter (OPC) Program.This accomplishment comes after a week of discussions, demonstrations and design presentations by ESG’s design team to the USCG and Department of Homeland Security (DHS). The purpose of the FCDR is to verify that the OPC…