Energean, DEPA Pact for EastMed Pipeline
UK-based international oil and gas exploration and production company Energean Oil & Gas and the Public Gas Corporation of Greece (DEPA) have agreed to cooperate to further support the EastMed Pipeline Project.The have signed a Letter of Intent (LoI) for the potential sale and purchase of 2 BCM natural gas per annum from Energean’s gas fields offshore Israel, where Energean is investing $1.7 billion for the development of the Karish & Tanin fields through the FPSO “Energean Power”.DEPA…
BIMCO’s Sand to Offer Boxship Insight in Athens
BIMCO’s Chief Shipping Analyst, Peter Sand, will be speaking and providing the audience with unique insights on the container market at the European Shipping Seminar on November 27, 2019 in Athens, Greece.The European Shipping Seminar, hosted by S&P Global Platts, will discuss the various topics relating to the commercial shipping markets and take a deep dive into how the shipping industry will navigate its way through the uncertain environment of the IMO 2020 Sulphur Cap.Container shipping outlookBIMCO has persistently stressed that trade wars and protectionism are negative for shipping.
Goltens Appoints Seth as President
The Goltens Worldwide group of companies has announced the appointment of Mr. Sandeep Seth as President. Seth first joined Goltens in 2002 and has steadily climbed the ranks, serving in positions of progressively increasing responsibility. Seth will continue to serve as a member of the Board of Directors.Seth has most recently served as the Vice President Asia Pacific and Vice President Finance of Goltens Worldwide. In these positions, he has overseen the operational, business development and financial aspects of the organization in the Asia Pacific region.
Seaborne Box Trade to Remain Flat: MPC
Growth in global seaborne box trade is expected to remain largely constant in 2019, with Non-Mainlane trade being an important driver while Mainlane trades expected to expand only moderately, said Norway-based MPC Container Ships ASA.In particular, the pace of global manufacturing remains a cause for concern as growth rates in Europe and Asia have been disappointing, the owner and operator of container ships said in a stock exchange annoucement.Present year container trade is estimated to grow by about 3.6%…
Platts to Launch Marine Fuel Derivatives Prices
S&P Global Platts will publish assessments for financially settled derivatives contracts that settle against its physical 0.5 percent sulphur marine fuel assessments in Asia, the Middle East, Europe and the United States from May 2, it said.Platts launched physical marine fuel 0.5 percent cargo and barge assessments globally on January 2, 2019.(Reporting by Ahmad Ghaddar; Editing by Jan Harvey)
Damen: Construction of Shortsea LNG Bunker Vessel Underway
Steel cut for first short-sea LNG bunker vessel for Eesti Gaas at Damen Yichang Shipyard, China.On March 18, 2019, a ceremony was held at Damen Yichang Shipyard, China, to mark the start of cutting steel for the first of a planned series of short-sea LNG Bunker vessels to be built for Eesti Gaas of Estonia. The 6,000m³ capacity vessel and its future sister-ships are intended to accelerate the wider adoption of LNG as a cleaner alternative fuel in the north-eastern region of the Baltic Sea by providing a mobile and efficient ship-to-ship distribution service for the first time.Virgo Vinkel…
Snam, Enagás, Fluxys Complete DESFA Acquisition
The consortium consisting Italy’s Snam, Spain’s Enagás and Belgium’s Fluxys has completed the acquisition of a 66 percent stake in Greek natural gas operator DESFA.According to a joint release, the purchase valued at €535 million ($613.9 million) has been completed with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum.The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% of the value of the company.DESFA owns and operates…
THE Alliance to Operate 249 Ships in 2019
THE Alliance members Hapag-Lloyd, Ocean Network Express(ONE) and Yang Ming have published details of a rationalised revamped network for east-west trades effective from next year.The forthcoming THE Alliance products of 29 services will cover 76 ports in Asia, Europe including Mediterranean, North and Central America, the Middle East, Red Sea and Indian Subcontinent, said a joint press release.Deployment of over 249 efficient container ships with expanded capacity, offering improved service coverage…
ONE Delivers 14,000-TEU Containership
Ocean Network Express Pte. Ltd. (“ONE”) is has announced that ONE Columbia, with a carrying capacity of 14,000 TEU, has been successfully delivered at Kure Shipyard of Japan Marine United Corporation. The sublet owner is Nippon Yusen Kaisha. This is ONE’s 4th newly built 14,000TEU magenta containership delivered this year, after ONE Stork (delivery date on 12th June 2018), ONE Minato (26th July 2018), and ONE Aquila (7th September 2018). Currently, 3 more vessels in ONE’s order book are in the construction process and expected delivery is in 2019.ONE Columbia…
Singapore Bunkering Hub Ready for IMO 2020
Singapore authorities are taking measures to ensure the availability of low-sulphur marine fuels ahead of upcoming emissions regulations in 2020, Singapore's Senior Minister of State for Transport and Health Lam Pin Min said on Wednesday."(The) MPA is working closely with the industry to ensure that Singapore is ready to supply low-sulphur compliant fuels ahead of 1 January, 2020," said Lam at the Singapore International Bunkering Conference and Exhibition.The Maritime and Port Authority of Singapore (MPA) will make available a list of licensed bunker suppliers of low-sulphur fuels by mid-2019
Chinese Marine Builder to Work with Singapore Trader to Buy Fuel
The marine construction unit of the state-owned China Communications Construction Company (CCCC) on Tuesday signed an agreement to work with Singapore-based commodities trader Zenrock Group to purchase fuel.Marine Construction & Development Co (MCD), which is involved in major infrastructure projects around the world as part of China's Belt and Road initiative, wants to streamline its process for buying fuel, said Chief Financial Officer Jin Xinxiang."In the past, (our) oil procurement activities have been very segregated into individual projects.
Diana Shipping Appoints Directors and Executive Officers
Diana Shipping announced that, effective August 1, 2018, the Company increased the size of its Board of Directors from nine to eleven members.The global shipping company specializing in the ownership of dry bulk vessels appointed Christos Glavanis to serve as a Class I Director and appointed Mr. Andreas Michalopoulos, the Company’s Chief Financial Officer and Treasurer, to serve as a Class III director, in each case effective August 1, 2018.The Board has determined that Glavanis is an “independent director” as such term is defined under the Securities Exchange Act of 1934…
DNV GL: Classification More Relevant than Ever
In an increasingly complex, fast changing, and challenging market, the role of the classification society is more relevant than ever, said Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime, at a press conference ahead of Posidonia trade fair in Athens. Class enables innovation in shipbuilding, guides owners and operators through a demanding regulatory landscape, and helps the industry tackle cyber-crime, he underlined.Leading off the press conference, DNV GL Group President & CEO Remi Eriksen explained that two megatrends are impacting the maritime industry: decarbonization and digitalization.
Japan, China Agree Trade War Will Harm Global Economy
Japan and China agree that a trade war will have serious consequences for the world economy, Japanese Foreign Minister Taro Kono said on Monday after a high-level economic dialogue between the world's third- and second-largest economies. Concern is growing about a trade row between China and the United States in which the two nations have threatened each other with tariffs. Japan has been criticised by U.S. President Donald Trump on trade and been hit with tariffs on steel and aluminum, but it has not yet threatened counter-tariffs.
APL Pioneers 100 Years of Shipping in the Philippines
In celebration of its 100th anniversary in the Philippines, APL today renewed its commitment to keep pioneering shipping solutions for the development of the Philippines’ shipping industry. Part of APL’s plan is to identify local partnerships to extend its reach to more outports in the Philippines, facilitate trading by opening new service routes and keep engaging industry stakeholders for the development of the sector. APL Chief Executive Officer, Nicolas Sartini said, “APL has laid a firm foundation in the Philippines since we established our presence here in 1917.
Madrid Maersk's Maiden Voyage to Rotterdam
The 20,568 TEU Madrid Maersk, launched in March 2017 as the first of 11 of the second-generation Maersk Triple-E vessels to be delivered to the global container ship fleet, called APM Terminals Rotterdam on its maiden voyage on the Far East-Europe (AE-2) service operated by Maersk Line and Swiss-based Mediterranean Shipping’s 2M Alliance. “With this maiden call of Madrid Maersk to Rotterdam, we have yet another opportunity to celebrate our good cooperation with the city, the port and APM Terminals,” added Mark Cairns, The Netherlands Managing Director for Maersk Line.
Hodge to Lead Pirie & Smith’s DP Division
Pirie & Smith, marine consultants and surveyors to the marine and energy sectors, has appointed Russell Hodge to head up its new Dynamic Positioning (DP) Engineering and Assurance Division. Hodge, who has more than 30 years’ experience on a global level, joins the company as Dynamic Positioning Technical Authority. He is an expert in the fields of DP, failure mode and effect analysis, DP trials and audits, accident investigation and the design of shipboard power and control systems.
Arcadia Receives EU MRV Monitoring Plans
Greek company Arcadia Shipmanagement Co Ltd became the first to receive verification from classification society DNV GL for compliant monitoring plans for its entire fleet under the new EU emissions monitoring, reporting and verification (MRV) regulation. The company was presented with a certificate recognizing the achievement at DNV GL’s Piraeus office. “We are very proud to be the first shipping company to have been awarded the verified EU MRV management plans, for our fleet…
CMM, HHI, Wärtsila, DNV GL Reveals LPGreen
In connection with the Gastech 2017 conference and exhibition in Tokyo, project partners Consolidated Marine Management (CMM), Hyundai Heavy Industries (HHI), Wärtsilä Oil & Gas, and DNV GL presented the results of a joint industry project (JIP) to develop a new LPG fuelled carrier design – LPGreen. Launched at the Posidonia trade fair in 2016, the JIP sought to develop a more energy efficient, environmentally friendly, and safer vessel for the transportation of LPG products.
Suez Canal Access Channel Officially Opened
The terminal is also expanding in response to Egypt’s growing population and economy, and role as a global transportation hub. East Port Said, Egypt – Completed within just three months, the new 8.5 km (5.2 mile) access channel directly links the East Port Said port complex to the Mediterranean Sea, eliminating the need for vessels heading to the Suez Canal Container Terminal (SCCT) to wait 6-8 hours for a time window between vessel convoys transiting the canal. This means that the channel…
AAL, PD Launch Joint Semi-Liner Service
AAL & PD have followed up their cooperation on a range of global multipurpose tramp solutions with the launch a new joint semi-liner service - ‘Asia - Middle East - Europe’. The route will connect mature and developing markets with regular fixed route sailings, flexible port calls and multiple classes of modern heavy lift MPP vessels and represents a highly competitive solution for the transport of project, breakbulk, container and dry-bulk cargo – big and small. This launch marks…
Highest-Pull Wireline Conveyance System from Schlumberger
Schlumberger announced today the launch of the MaxPull high-pull wireline conveyance system that can pull from 18,000 lbf to 30,000 lbf in wells 40,000 ft [12,192 m] deep or more. The MaxPull system’s engineered integration of wireline conveyance components brings efficiency, reliability and sticking avoidance to complex well trajectories that were not previously wireline accessible. “With the industry’s highest-pull wireline conveyance system, drillers can expect drillpipe-free wireline operations in any environment with vertical well efficiency and minimum sticking risk…
Kalmar Bags Gulftainer Order
Kalmar signed an agreement with Gulftainer Lebanon SAL to supply six Kalmar T2 terminal tractors and one Kalmar DCF80-45E7 empty container handler. The order was booked in Cargotec's 2016 third quarter order intake and the first delivery will take place in October 2016. The rest of the order will be delivered during the first quarter of 2017. Established in 1976, Gulftainer is a privately owned, independent port management and third-party logistics company based in the United Arab Emirates.