MOL Names New LNG Carrier LNG Megrez in China
A naming ceremony was held October 20 for a new liquefied natural gas (LNG) carrier jointly ordered by Mitsui O.S.K. Lines, Ltd. (MOL) and China COSCO Shipping Corporation Limited (China COSCO Shipping), at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.
Comprehensive Sanctions: Iran, Syria and North Korea
This article will focus on “comprehensive sanctions,” which prohibit most trade between the U.S. and the target country, with a particular focus on three countries currently targeted by comprehensive sanctions: Iran, Syria and North Korea. Similar jurisdictions which are subject to varying levels of comprehensive sanctions, including Cuba, the Crimea region (Russia/Ukraine) and Venezuela (which may be thought of as subject to “quasi-comprehensive” sanctions) will be dealt with an article later in this series.IranHistory of Iran sanctions: The first U.S.
Grounded Bulker Refloated Near Norfolk
A 738-foot bulk carrier that ran aground near Sewell’s Point in Norfolk, Va. was refloated during high tide on Friday morning, the U.S. Coast Guard said.It took seven tugs to refloat the Panamanian flagged Hong Dai, which grounded late Wednesday night with 22 crewmembers aboard. The ship was said to be carrying a cargo of coal, as well as 188,000 gallons of low sulfur fuel oil, diesel and lube oil, collectively. No injuries, pollution or flooding concerns were reported.The refloated…
Bulk Carrier Grounds Near Norfolk, Va.
U.S. Coast Guard and Port of Virginia personnel are assisting the crew of a bulk carrier that ran aground near Norfolk, Va. on Wednesday night.Watchstanders at the Coast Guard Sector Virginia command center received notification from crewmembers aboard the the Panamanian-flagged Hong Dai stating the 738-foot bulk carrier ran aground on a soft sandy bottom approximately 400 meters Northwest of Sewell’s Point, the Coast Guard said on Thursday.The Hong Dai crew reported no injuries…
Box Ship Rescues Sailors in Storm Sally
The captain and crew of a Hong Kong-flagged containership came to the rescue of a sailboat crew in distress on Sunday amid severe weather and waves during storm Sally, in the Gulf of Mexico, some 130 nautical miles west of Port Tampa Bay, Fla.The COSCO SHIPPING Lines containership COSCO Malaysia was en route from Mobile, Ala. to Port Tampa Bay when it received a distress call from the sailboat Yes Dear at 8:22 a.m. local time and immediately carried out rescue operations under instruction from local U.S.
Sovcomflot Targets at Least $500 Million in Moscow IPO
Sovcomflot plans to raise at least $500 million in an initial public offering (IPO) on the Moscow Exchange, Russia’s top shipping company said on Tuesday, in a deal that could value it at roughly $10 billion according to sources.The move by the state-controlled firm comes as Russian airline Aeroflot also plans to raise capital in a secondary public offering (SPO).For Aeroflot, the cash is needed to fight the economic fallout from the COVID-19 pandemic.Sovcomflot (SCF) which is raising money to spend on new projects and reduce debt aims to list in early October…
MAN Bags Orders for Engines Meeting China's New Emissions Rules
MAN Energy Solutions said its Chinese license CMP has won a series of new small-bore, four-stroke orders within the Chinese inland-and-coastal segment. The orders are for MAN 21/31, 27/38 and 23/30H types and stem in great part from the Chinese government establishing new, impending, emission protocols for the segment with its GB15097 regulation – commonly known as C1 and C2.Finn Fjeldhøj, Head of Small-Bore, Four-Stroke Engineering, MAN Energy Solutions, said, “With the introduction of C1 and C2…
Yinson Orders TMC Compressors for Anna Nery FPSO
Malaysian FPSO provider Yinson has ordered a large marine compressed air system from TMC for the FPSO Anna Nery, which currently under construction in China, and destined for Petrobras' Marlim revitalization project in Brazil.TMC's compressed air system will consist of four large capacity service and instrument air compressors with associated air dryers and filters. TMC has not revealed the value of the contract.Hans Petter Tanum, TMC’s director of sales and business development:"When you operate far from shore, you need powerful and reliable air supply onboard.
Norden Orders Two More Bulk Carriers at NACKS
Norden announced Tuesday it has added two bulk carriers to an existing newbuilding contract with shipbuilder Nantong Cosco Khi Ship Engineering Co. (NACKS), taking the total order to six vessels.The Danish shipowner said it has already sold two of the six vessels on sale and lease back terms, freeing up liquidity. The newbuilds are scheduled to be delivered from 2022.In addition, Norden said it bought a secondhand 2014 built Supramax bulk carrier scheduled to join its fleet in September.
COSCO Teams up with Alibaba on Shipping Blockchain
COSCO SHIPPING has signed a cooperation agreement with e-commerce company Alibaba and its FinTech affiliate Ant Financial to digitalize the shipping supply chain.The Chinese firms will research and promote the deployment of shipping blockchain in China, working to facilitate the connection of shipping, ports, logistics and finance based on the technology, and to realize data connectivity through cross chain cooperation to build a platform for systematic cooperation between the upstream and downstream industrial chains.
GTT to Design Tanks for COSCO LNG Tanker Trio
French GTT has received an order from the Chinese shipyard Hudong-Zhonghua Shipbuilding for the tank design for three new LNG carriers. The carriers will be delivered to the Chinese ship-owner COSCO Shipping. Each vessel will offer a capacity of 174,000 m3. GTT will design the tanks of the vessels, which will be fitted with the NO96 L03+ membrane containment system, a technology developed by GTT. Philippe Berterottière, Chairman and CEO of GTT, declared: "We are pleased to continue…
COSCO Orders Three LNG Carriers at Hudong-Zhonghua
Hudong-Zhonghua Shipbuilding Co, a unit of China State Shipbuilding Corp, has signed contract to construct three liquefied natural gas (LNG) carriers worth 3.9 billion yuan ($551.62 million), reported the state-backed Jiefang Daily on Tuesday.The LNG carriers, each with a capacity of 174,000 cubic metres, will be operated by China COSCO Shipping and be deployed for LNG shipping services for PetroChina International Co, an affiliate of China National Petroleum Corp."The construction of the new LNG carriers is to response government calls to expand domestic demand," Jiefang Daily reported, citin
Norden Orders Four Ultramax Bulkers
Danish shipping company Norden announced Monday it has ordered four 61,000 dwt Ultramax bulk carriers from Nantong Cosco Khi Ship Engineering Co. (NACKS), for scheduled delivery in 2022.Norden CEO Jan Rindbo noted that the newbuilding contract is in line with the company’s strategy of agile asset trading and active management of Norden’s cyclical market exposure.“Having sold 10 dry cargo vessels since 2018, we believe asset prices have now declined sufficiently to present a good trading opportunity to buy…
Seacor Marine Takes Full Ownership of Seacosco
U.S. offshore vessel provider Seacor Marine will buy the remaining 50% stake in Seacosco from China's Cosco.Seacor will pay $28.15 million in installments, and the transaction is expected to close in June 2020.With the acquisition, Seacor will take ownership of eight Rolls-Royce designed platform supply vessels from COSCO Shipping Heavy Industry (Guangdong) Co., Ltd.Six of the PSVs are of UT 771WP design, with 4,400 tons deadweight capacity, and two are of UT 771CD design, with 3…
US Lifts Sanctions on COSCO's Dalian Unit
The United States on Friday lifted sanctions on one of two units of the Chinese tanker company COSCO, the U.S. Treasury said, partially reversing its punishment on the company for transporting Iranian oil after China complained about the measure in trade talks with Washington.President Donald Trump's administration on Sept. 25 blacklisted two units of COSCO, named after the northeastern Chinese port of Dalian. The move sent worldwide freight costs to record highs and disrupted the global shipping market.The U.S.
4 Major Lines Jointly Launches EMA Services
Chinese state-owned shipping company COSCO Shipping Lines, Hong Kong container shipping company Orient Overseas Container Line (OOCL), Japanese/Singapore container shipping company Ocean Network Express (ONE) and Taiwanese ocean shipping company Yang Ming Marine Transport Corporation are to launch a new weekly Transatlantic service, East Mediterranean - America Service (EMA).The first commencing voyage is scheduled to operate on April, 2020, subject to Federal Maritime Commission (FMC) filing.The EMA service, jointly operated by the four lines, will consist of six Panamax vessels.
Kawasaki Delivers Newbuild Market Cooper
Japanese shipbuilder Kawasaki Heavy Industries (KHI) has delivered the bulk carrier Market Cooper to an unnamed shipowner.The 61,000DWT vessel was built jointly by Kawasaki and China COSCO Shipping Corporation at Nantong COSCO KHI Ship Engineering (NACKS) which is located in Nantong City, China.Market Cooper has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products, said the company.Four 30-ton deck cranes…
Coronavirus Places Shipping on High Alert
The Wuhan coronavirus outbreak has placed the shipping industry on high alert amid a rising death toll in China and reports that the fast-spreading illness is reaching new shores.The flu-like coronavirus, first identified in Wuhan, Hubei Province, China on December 31, has killed more than two dozen people in China and is believed to have infected more than 900 worldwide, according to several media reports. Cases have been confirmed in Beijing, Shanghai and Guangdong, and internationally in travelers returning from China to Japan…
Hamburg Port Defends Service Losses
Germany's largest port, the Port of Hamburg not expecting reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk.From April, the Ocean Alliance NEU 5 service handled by EUROGATE Container Terminal Hamburg – CTH is being transferred to Antwerp, said a press release from the a sea port on the river Elbe in Hamburg, Germany, 110 kilometres from its mouth on the North Sea."This service will be run by the Ocean Alliance Partner, CMA CGM as FAL 3 with an approximate annual volume of 150…
Kawasaki Delivers Newbuild Bulker
Japanese shipbuilder Kawasaki Heavy Industries (KHI) has delivered the bulk carrier FJ Viola, with a capacity of 61,000 DWT, for F.J.Lines Inc. at the Dalian Cosco KHI Ship Engineering Co., Ltd. (DACKS).DACKS is located in Dalian City, China and operated jointly with China Cosco Shipping Corporation Limited.According to a press release from KHI, The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel…
KHI Delivers Bulk Carrier Amis Treasure
Japanese shipbuilder Kawasaki Heavy Industries Ltd. announced that it delivered the bulk carrier Amis Treasure, with a capacity of 61,000 DWT for Trobrian Wisdom SA.The delivery happened at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), which is located in Dalian City, China and operated jointly with China COSCO Shipping Corporation Limited (China COSCO Shipping).The vessel has a flush deck with a forecastle and five holds that are designed for optimum transport of grains, coal, ores and steel products.
Yamal LNG Gets New LNG Vessel
Japanese shipping giant Mitsui O.S.K. Lines (MOL) has held a naming ceremony for an LNG carrier, jointly ordered by MOL and China COSCO Shipping.The naming ceremony for the LNG Merak carrier was held on Wednesday, January 8, at Hudong-Zhonghua Shipbuilding yard, according to MOL.The "LNG Merak" is the second of four newbuilding LNG Carriers for the Yamal LNG Project announced at the end of June, 2017, and the sister vessel of the "LNG Dubhe" which was delivered at the end of last…
Tomini Adds 3 New Ultramaxes to its Fleet
Dubai-based ship owner and operator Tomini Shipping has boosted its shipping fleet with the delivery and naming of three ultramax carriers.Three vessels named Tomini Entity (63,500 DWT), Tomini Felicity (63,300 DWT) and Tomini Tenacity (63,601 DWT) were delivered on 7 January 2020.According to the company statement, the naming ceremony was held at the COSCO Shipping Ltd, Hudong Shipyard, Shanghai, China. Shoaib Seedat, Head of New Buildings and Pradeep Bajpai, Head of Fleet Management attended from Tomini Shipping together with representatives of the builder and seller…