Indian Navy Ships Satpura, Kadmatt at Singapore
In pursuance of India’s ‘Act East’ policy, Eastern Fleet ships INS Satpura and Kadmatt are on a 4-day port visit to Singapore from 14 September 17. During the stay in harbour, various activities such as official calls, formal reception on board ships, ships open to visitors, guided tours for Indian naval personnel and professional interaction between naval personnel of both the nations have been planned.
CMA CGM Reports Better Result in Q2 2017
CMA CGM recorded a net income of $219 million on revenues of $5.55 billion for the second quarter of 2017, with volumes rising 33.3 percent year-over-year. Volumes carried grew with the integration of APL, the launch of OCEAN ALLIANCE and the industry dynamism, the company said. The French ocean carrier said its net income is $219 million for the second quarter of 2017, compared to a net loss of $129 million for last year’s second quarter.
Warning on Hazards of Carrying Bauxite by Ship
A new warning that bauxite may become unstable when carried in bulk on a ship, potentially causing the vessel to capsize, has been issued by the International Maritime Organization (IMO). Bauxite is one of the world’s major sources of aluminium with around 100 million tonnes transported annually by sea. In 2015, a bulk carrier sank while transporting bauxite, with the loss of 18 seafarers. Research…
Japan's JICA to Fund India's Alang-Sosiya Shipyards
The Government of India signed a loan deal worth USD 76 million with Japan International Cooperation Agency (JICA), for a project to upgrade the environment management plan at Alang-Sosiya ship recycling yards. The total cost of the project will be $ 111 million, out of which $76 million will be provided as soft loan from JICA. Out of the remaining amount, $25 million as taxes and fees will be borne…
Beaumont Port Still Restricted after Harvey
While crude deliveries by larger ships to Beaumont in Texas remain restricted after Hurricane Harvey, a workaround using pipelines can supply Exxon Mobil's refinery there, shipping sources said.
CMA CGM Confirms Order for Nine Mega Ships
CMA CGM, the world's third-largest container shipping firm, said it expected operating profits to improve further in the second half as the market continues to recover, and confirmed an order for nine giant vessels. The announcements by French-based CMA CGM underlined a recovery in the industry this year after a prolonged downturn that sparked a series of consolidation deals. In a second-quarter results statement on Friday…
Oil/Chemical Spills from Harvey Are Big, but Dwarfed by Katrina
More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of…
US-flag Shipping on Great Lakes Up 7%in August
The Lake Carriers’ Association (LCA) said U.S.-flag Great Lakes freighters (lakers) moved 10.1 million tons of cargo in August, an increase of 7 percent compared to a year ago.
Brightoil Launches Online Bunker Trading Platform
International bunker trader and supplier Brightoil has launched a new suite of online tools that aims to transform the way bunker fuel is traded globally. Brightoil Bunker Online E-Delivery platform is now live and includes a Forward Fixed Price (FFP) facility making the process of buying bunkers anywhere in the world faster, easier and more transparent. The new facility enables customers to lock-in bunker cost for up to nine months forward thereby reducing exposure to major price swings.
Mississippi River Deepening Project Gains Support
The National Association of State Departments of Agriculture (NASDA) hosted its Annual Meeting in New Orleans, where NASDA President and Commissioner of Louisiana’s Department of Agriculture and Forestry, Dr. Michael Strain championed a motion supporting the deepening of the Mississippi River Ship Channel to 50 feet. Earlier in the week, Dr. Strain led the effort to gain the support of the Southern Association of State Departments of Agriculture (SASDA) on the same motion.
Ichthys Explorer Moored off Western Australia
The world’s largest semi-submersible platform, the Ichthys Explorer, has been safely moored in the Ichthys Field, 220 kilometers off the north coast of Western Australia…
Fairbanks Morse to Launch Engine at Power-Gen 2017
Fairbanks Morse Engine announced it will launch a next generation engine, the Trident OP, at the Power-Gen International Conference in Las Vegas, December 5. According to the manufacturer…
PacRim Nations Crack Down on N.Korean Ships
South Pacific island nations are scouring shipping records for vessels with links to North Korea after Fiji said it had identified 20 falsely flagged ships it suspects…
Innovation Comes from Diversity -Lloyd’s Register
Lloyd’s Register (LR) has issued a global call for partners active in the area of innovative digital technologies related to the safety and performance of marine vessels.
Hong Kong Looks to Ride Out Boxship Turmoil
Hong Kong's port expects a slight rise in container shipping volumes this year despite continuing global turmoil in the sector. The global container industry, which transports everything from bananas to iPhones, is showing signs of better returns after a near-decade long slump. Nevertheless, worries over global retail demand and too many ships have continued to put the brakes on a bigger recovery.
Phillips 66 Charters Foreign Tanker for Domestic Voyage
Phillips 66 has chartered a Marshall Islands-flagged vessel, making use of a temporary waiver of the Jones Act that was put in place to meet fuel shortages in the wake of hurricanes Harvey and Irma…
T. Parker Host Snaps up CWT Talent
Virginia-based stevedoring and shipping terminal operator T. Parker Host on Friday said it had hired all the staff from CWT Commodities' U.S. team as part of its…
Oil, Chemical Spills from Harvey Adding Up
More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of natural gas and hundreds of tons of other toxic substances, a Reuters review of company reports to the U.S. Coast Guard shows. The spills, clustered around the heart of the U.S. oil industry, together rank among the worst environmental mishaps in the country in years…
Toyota Backs Japanese $1.8 Bln LNG Vessel Order
Japanese car manufacturer Toyota Motor Corporation is turning to LNG-powered ships to transport its cars across the globe, according to a report from Japanese daily Nikkei. The company has backed an investment in up to 20 LNG-powered car carriers with the capacity to carry 7,000 vehicles each, as it is preparing for the environmental regulations that will go into force in 2020. Nippon Yusen Kaisha (NYK)…
WFW Advises Berenberg on Shipping Loan
International law firm Watson Farley & Williams (WFW) has advised private bank Berenberg on its acquisition, jointly with a Japanese financial institution, of a circa US$460m performing shipping loan portfolio from the Royal Bank of Scotland (RBS). WFW previously advised Berenberg on the acquisition of a similar US$300m portfolio from RBS in February 2017. Hamburg-based international investment and…