Cyprus News

20 Feb 2019

DP World buys back P&O Ferries for $421 mln

File Image: CREDIT P&O

DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the heart of the emirate’s financial crisis at the turn of the decade and was forced to restructure around $

30 Jan 2019

2,275 Migrants Perish in Mediterranean in 2018

Pic: UNHCR

Six people died each day attempting to cross Mediterranean in 2018, the latest ‘Desperate Journeys’ report, released by the UN Refugee Agency said.According to the report by United Nations High Commissioner for Refugees (UNHCR), an estimated 2,275 died or went missing crossing the Mediterranean in 2018, despite a major drop in the number of arrivals reaching European shores.In total, 139,300 refugees and migrants arrived in Europe, the lowest number in five years, it said.“Saving lives at sea is not a choice…

30 Jan 2019

Transport Firms Reviewing UK-registered Ships Ahead of Brexit

Photo courtesy of Stena

Sweden’s Stena and Bermuda-registered Stolt-Nielsen are reviewing their UK-registered ships ahead of Britain’s departure from the European Union, the two leading transport companies told Reuters separately on Wednesday."In the light of the Brexit process we are considering whether the UK flag can become a possible issue for us when it no longer will be an EU flag post the 29th March 2019, but we have taken no decisions and are reviewing different scenarios," said Ian Hampton, chief people & communications officer and Brexit spokesperson for Stena Line.A spokeswoman for Stolt-Nielsen…

22 Jan 2019

P&O to Re-flag UK ships to Cyprus ahead of Brexit

British ferry and shipping freight operator P&O will re-flag its entire UK registered fleet to Cyprus ahead of Britain’s departure from the European Union to keep tax arrangements in the bloc, the company said on Tuesday.Last month P&O said it was re-flagging two of its UK ships operating on the English Channel route to France to the Cyprus registry."In advance of Britain leaving the European Union on March 29, 2019, we undertook a review of the flag status of our ships on the English Channel," a P&O spokesman said in a statement on Tuesday."For operational and accounting reasons, we have concluded that the best course of action is to re-flag all ships to be under the Cyprus flag." Reporting by Jonathan Saul

18 Jan 2019

LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come

Image: SEA\LNG

The liquefied natural gas (LNG) bunkering infrastructure is expanding globally and there are increasing numbers of LNG-bunker vessels which are encouraging other operators to adopt LNG.According to SEA\LNG,  the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, from limited availability at select ports, LNG bunkering has grown to encompass 24 out of the world’s top 25 and all but one of the top ten bunker…

07 Jan 2019

Chabahar Port Begins Commercial Operations

Pics: Press Information Bureau

Commercial operations began at ndia Ports Global Chabahar Free Zone (IPGCFZ), at Chabahar with the arrival of a vessel after Government of India took over the operations.A Cyprus registered bulk carrier had arrived at Chabahar with 72458 MT of corn cargo. The vessel MV MACHERAS berthed at the terminal at 0130 hrs on 30th December 2018. Thus IPGCFZ carried out its first cargo operation by discharging the imported cargo(ex Brazil) using pneumatic un-loaders.India has written a history with its engagement in Chabahar, claimed a governement release.

27 Dec 2018

Brexit:: P&O Re-flags Two Ships for Tax Reasons

© bluedesign/AdobeStock

British ferry and shipping freight operator P&O is reviewing its UK-registered fleet and is already re-flagging two vessels to keep European Union tax arrangements ahead of Britain's departure from the bloc, the company said.A P&O spokesman said two of its UK ships operating on the English Channel route to France would be re-flagged to Cyprus."The change is being made to preserve the tonnage tax financing arrangements, under which the ships should remain flagged in an EU member state," a statement said.The spokesman added that P&O was reviewing the flag status of its four other ships operating

26 Dec 2018

Great Ships of 2018: Halunder Jet

Image: © Flensburg Förde Reederei, FRS

Fast and comfortable to Heligoland with Halunder JetThe work took just over a year, the big day becomes finally reality: the successor to the former HALUNDER JET is ready. Around 250 shipyard employees and 60 employees from Förde Reederei Seetouristik, Flensburg, Germany, worked on the catamaran in the AUSTAL shipyard in Cebu. After 15 years of loyal service, the company, FRS, finally said goodbye to the old HALUNDER JET in the fall of 2017. It was hauled to the west coast of America…

22 Dec 2018

Poseidon Med II Conducts Workshop

The European co-funded Poseidon Med II programme (PMII), organised a workshop at the Technological Educational Institute of Crete (TEI) in the context of its dissemination activities.The subject of the workshop, which took place on December 17th, 2018 was to present the appropriate framework for the adoption of Liquefied Natural Gas (LNG) as a marine fuel in the Eastern Mediterranean.The event was opened by the Rector,  N. Katsarakis, followed by a welcome note by the President and Managing Director of the port of Heraklion,  A. Philippis. The event was attended by Professors and students of the Technological Educational Institute of Crete…

18 Dec 2018

P&O Re-flagging Two Vessels to Cyprus Ahead of Brexit

British ferry and shipping freight operator P&O is reviewing its UK-registered fleet and is already re-flagging two vessels to keep European Union tax arrangements ahead of Britain's departure from the bloc, the company said.A P&O spokesman said two of its UK ships operating on the English Channel route to France would be re-flagged to Cyprus."The change is being made to preserve the tonnage tax financing arrangements, under which the ships should remain flagged in an EU member state," a statement said.The spokesman added that P&O was reviewing the flag status of its four other ships operating on the Channel route, although no final…

16 Dec 2018

Qatar Buys Eni's Mexican Oil Stakes

Photo: Qatar Petroleum

Qatar Petroleum (QP) signed an agreement with Italy’s Eni SpA to acquire a 35% stake in three offshore oil Fields in Mexico.The agreement cover the Amoca, Mizton, and Tecoalli offshore oil fields, which lie in Area 1 in Mexico’s Campeche Bay, said a press statement from the Arab country's government-owned energy company.The agreement is subject to customary regulatory approvals by the government of Mexico. Following such approval, both Eni and Qatar Petroleum will jointly hold 100% interest in the Area 1 production sharing contract.Commenting on this agreement…

09 Nov 2018

Second Turkish Drill Ship Will Operate in Black Sea

Fatih Donmez (Photo: Turkey's Ministry of Energy and Natural Resources)

Turkey has completed the purchase of its second drilling ship, which will operate in the Black Sea at the north of the country, Energy Minister Fatih Donmez said on Friday.Turkey is almost completely reliant on imports to meet its energy needs.

23 Oct 2018

Greece, Turkey Snipe Over Maritime Borders

Turkey warned Greece on Tuesday it would not tolerate a shift in Greece's maritime border, drawing a sharp rebuke from Athens that it would decide when and how it exercises its sovereign rights.The statements from both sides came a few days after Greece's former foreign minister said Greece planned to extend its territorial waters to 12 miles to the west of the country.Territorial waters are a sensitive issue between the two neighbors and NATO allies, who are separated by the Aegean Sea and have been at odds over airspace, ethnically split Cyprus and offshore mineral rights for decades.Turkey has previously warned it could not preclude military action to defend its interests.Former Greek Foreign Minister Nikos Kotzias…

19 Oct 2018

Turkish Ship to Continue Explorations in Mediterranean

© Dmytro Vlasov / MarineTraffic.com

A Turkish energy exploration ship will continue to operate in the Mediterranean Sea, the energy minister said on Friday, after Ankara said the navy stopped a Greek frigate from harassing the ship due to territorial disputes.Turkey, Greece and Cyprus's internationally recognized Greek Cypriot government have long disputed their overlapping claims of jurisdiction for offshore oil and gas research in the Mediterranean."Turkish Petroleum's exploration ship will continue its activities in line with Turkey's rights," Energy Minister Fatih Donmez told reporters in the western coastal province of Izmi

19 Oct 2018

Standard Drilling Sells PSVs

PSV World Sapphire. Image: Damen Shipyards

New World Supply, where S.D. Standard Drilling (SDSD) has an ownership of 26.2 percent, has completed a sale of two of its six medium sized platform supply vessels (PSVs).According to the Cyprus-based company that offers offshore drilling services to the oil and natural gas exploration industry, the vessels, World Sapphire and World Emerald, have been in lay-up in Spain since October and November 2016.The purchase price, which remains confidential, has been fully paid for both…

18 Oct 2018

Turkish Navy Stops Greek Frigate 'Harassment' in Mediterranean

© Gerry McGonigle / MarineTraffic.com

Turkey's state-run Anadolu news agency said on Thursday that the navy had stopped a Greek frigate from harassing a Turkish ship in the Mediterranean. It did not give further details.Turkey, Greece and Cyprus's internationally recognized Greek Cypriot government have long disputed their overlapping claims of jurisdiction for offshore oil and gas research in the Mediterranean.The ship Barbaros Hayreddin Pasa was carrying out seismic research activity, the foreign ministry said earlier.It…

16 Oct 2018

Lloyd's Register Updates East Mediterranean Projects on Alternative Fuels

Pic: Poseidon Med II

Three European Commission co-funded initiatives – Poseidon Med II, CYnergy and Elemed – are driving forward the uptake of alternative fuels in the Eastern Mediterranean region.Poseidon Med II: Creating a comprehensive and sustainable supply chain for LNG bunkeringThe Poseidon Med II project is a practical roadmap that aims to promote wide adoption of LNG as a safe, environmentally efficient and viable alternative fuel for shipping and help the East Mediterranean marine transportation propel towards a low carbon future.The project…

12 Oct 2018

Vessels Separated After Collision off Corsica

(Photo: Marine Nationale)

Tunisian roll-on/roll-off ferry Ulysse has separated from the Cyprus flagged containership CSL Virginia on Thursday following a collision earlier this week in the Mediterranean Sea.CSL Virginia was at anchor approximately 17 miles off the island of Corsica when it was struck broadside by cargo and passenger ferry Ulysse early Sunday morning. The ferry's bow penetrated the hull of the containership, causing the two vessels to become stuck together and resulting in a major oil spill.No deaths or injuries were reported…

11 Oct 2018

Ancient Shipwrecks Found in Greek Waters Tell Tale of Trade Routes

(Photo by Vasilis Mentogianis / RPM Nautical Foundation)

Archaeologists in Greece have discovered at least 58 shipwrecks, many laden with antiquities, in what they say may be the largest concentration of ancient wrecks ever found in the Aegean and possibly the whole of the Mediterranean.The wrecks lie in the small island archipelago of Fournoi, in the Eastern Aegean, and span a huge period from ancient Greece right through to the 20th century. Most are dated to the Greek, Roman and Byzantine eras.Although shipwrecks can be seen together in the Aegean…

07 Oct 2018

Cargo Ships Collide Near Corsica Causing Oil Spill

Photo ©Duncan Williams, marinetraffic.com

The Ulysse, ro-ro-cargo ship operated by the Tunisian operator CTN, struck the Cyprus-based  container ship CLS Virgina near the French Mediterranean island of Corsica early Sunday, causing no injuries but causing a 4-kilometer (2.4 mile) fuel spill in the Mediterranean Sea.According to a statement from the regional French maritime authority the collision smashed a hole of several meters (yards) long in the hull of one of the ships, causing the spill.AP reported that the spill created a trail of pollution nearly 2 and a half miles long and several hundred yards wide…

01 Aug 2018

Trump Bets on New European LNG Terminals

© Wojciech Wrzesien / Adobe Stock

U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the U.S.-EU trade talks sought to expand America's reach into the continent's gas markets which were awash in Russian supply."And we are already talking to the European Union about building anywhere from 9 to 11 ports…

30 Jul 2018

VTS Vasiliko Terminal Services Orders ASD Tug

Photo: Damen

On July 24, Damen Shipyards Group signed a contract with Cyprus-based VTS Vasiliko Terminal Services, the supplier of marine services to the Port of Vasiliko and the VTTV Oil Terminal Jetty, for a Damen ASD Tug 2310.Attending the contract signing event was Cyprus’ Minister of Transport Ms. Vassiliki Anastassiadou, who congratulated VTS Vasiliko Terminal Services on its high standard of service, which concurrently enhances Cyprus’ image in the marine services sector.The new ASD Tug 2310…

20 Jul 2018

London P&I Club Setting up Cyprus Office over Brexit

British ship insurer London P&I Club is setting up a new subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access, the group told Reuters on Friday.Britain dominates the global marine insurance market and losing access to specialist Protection and Indemnity (P&I) clubs could weaken its multi-billion pound shipping services sector."We have … chosen Cyprus to establish our new post-Brexit EU subsidiary, and we are currently going through the process of setting it up and obtaining the necessary license," London Club said in a statement.London Club is one of 13 major global P&I insurers and Europe accounts for over 60 percent of the group's activities.The six P&I clubs regulated in Britain are estimated to account for over half t

Maritime Reporter Magazine Cover Feb 2019 - Ferry Builders

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