East Mediterranean News

12 Feb 2020

Schlumberger Intros Egypt Upstream Gateway

Image: Schlumberger

The Egyptian Ministry of Petroleum and Schlumberger introduce the Egypt Upstream Gateway, a unique and innovative national project for digitizing subsurface information and delivering a digital subsurface platform to ensure Egypt's subsurface data is kept evergreen.The Egypt Upstream Gateway will also be a platform to promote Egypt's exploration and production potential worldwide.The Egypt Upstream Gateway will leverage the GAIA digital subsurface platform and provide additional…

06 Feb 2020

4 Major Lines Jointly Launches EMA Services

Image: Ocean Network Express (ONE)

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.

05 Jan 2020

Energean, DEPA Pact for EastMed Pipeline

Image: Energean

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…

20 Nov 2019

ZIM Back into Black

Pic: ZIM Integrated Shipping Services

Israeli international cargo shipping company ZIM Integrated Shipping Services continued to record improvements and to expand its global network to its customers confronting  challenging business environment.ZIM has reported a net profit of USD 5 million for the third quarter of 2019, after returning to black in the second quarter of the year. (Compared: Net loss of $6.6 million in Q3 2018).Eli Glickman, ZIM President & CEO, said: “In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019.

22 Aug 2019

ZIM Back in the Black

Pic: ZIM

Israeli container line ZIM Integrated Shipping Services Limited reported a total revenues of  $834.3 million in Q2 2019, reflecting an increase of 3.9% compared to $803.2 million in Q2 2018.In Q2 2019, ZIM carried 731 thousand TEUs, the second highest ever carried volume (reflecting a decrease of 5.3% compared to 772 thousand TEUs in Q2 2018, ZIM’s all-times record), said a press note.The container shipping industry is dynamic and volatile and has been marked in recent years by instability…

19 Aug 2019

SCCT Announces Reefer Repair Hub

Pic: APM Terminals

The Suez Canal Container Terminal (SCCT), strategically located at the mouth of the Suez Canal in Egypt, has announced its intention to open its reefer container inspection and repair hub to all brands. The terminal will also launch a dry container inspection and repair hub in October 2019.Until just over a year ago, the terminal faced unnecessary costs for moving and repositioning reefer containers with damaged panels or defects that hadn’t been recorded, said a press release from the APM Terminals…

05 Jun 2019

Shipping Losses Declines by 65%

Image: Allianz Global Corporate & Specialty (AGCS)

The international shipping industry is responsible for around 90% of world trade. There are around 60,000 merchant ships, transporting every kind of cargo.The world fleet is registered in over 150 nations, and manned by over a million seafarers, meaning the safety of vessels is critical. The maritime industry saw the number of total shipping losses of vessels over 100GT plummet during 2018 to 46 – the lowest total this century. To put this into context there were 207 total losses…

22 May 2019

ZIM Cuts Q1 Net Loss

Pic: Zim

The Israel-headquartered container carrier Zim Integrated Shipping Services (ZIM) reported  a first-quarter net loss of $17.5 million compared with a net loss of $26.1 million in the first quarter of 2018.The global container shipping company said in a stock exchange annoucement that its first-quarter revenues were $796.2 million, an increase of 6% over the $751.4 million reported for the first quarter of 2018.In Q1 2019, ZIM carried 668 thousand TEUs (reflecting a decrease of 4.3% compared to Q1 2018)…

08 May 2019

APM Terminals to Support SCCT

Pic: APM Terminals

The international container terminal operating company headquartered in The Hague, APM Terminals said that it is working closely with the government of Egypt on the final pieces of the jigsaw that will ensure the success of Egypt Vision 2030 for Port Said East Port and the Suez Canal Container Terminal (SCCT).Once in place, it is set to regain its position as one of the most competitive ports in the South and East Mediterranean region, APM said in a press release.As part of Egypt Vision 2030, the Egyptian Government has made massive investments in infrastructure.

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…

21 Oct 2018

Arkas Bunkering, Sumitomo Corporation in LNG Bunkering Deal

Pic: Arkas Holding S.A.

Arkas Bunkering have signed a protocol with Japan-based Sumitomo Corporation for the use of liquefied natural gas (LNG) as bunker fuel in Turkish and nearby seas. As environmentally-friendly buildings, vessels and fuels have become more popular than ever, new applications acting as reminders for both states and civil initiatives of their environmental responsibilities continue to emerge. With International Maritime Organisation’s (IMO) global sulphur cap set to enter into force in 2020, the maximum amount of sulphur allowed to be contained in bunker fuel will be reduced worldwide.

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…

28 Sep 2018

ZIM-MSC Connecting India and East Mediterranean Ports

File Photo: ZIM Integrated Shipping Services Ltd

ZIM Integrated Shipping Services (ZIM) and MSC Mediterranean Shipping Company have announced a new cooperation on the India sub-continent – Mediterranean trade. The new cooperation is due to commence on the second half of October, connecting India and major East Mediterranean ports. A press statement from the company said: "We are pleased to announce a new cooperation, offering a fast and reliable connection between the sub-continent and the Mediterranean."Rani Ben-Yehuda, ZIM’s EVP Cross Suez and Atlantic BU…

30 Aug 2018

ZIM Upgrades India-Med Express Line (IMX)

File Photo: ZIM Integrated Shipping Services Ltd

ZIM Integrated Shipping Services (ZIM) has announced that starting September, ZIM India-Med Express Line (IMX) will have a new rotation, with significantly faster transit time, making the fastest on the trade.A press release from the company claimed that ZIM Customers will benefit from fast transit time and improved port rotationIt said: "In order to improve our service to customers and cater for market needs, ZIM will introduce changes to IMX service, as follows: the line will operate 5 vessels, and the round-trip will be shortened to 35 days.

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 Mar 2018

Yang Ming Establishes Regional Center for Mediterranean

File Photo: Yang Ming Marine Transport Corp.

Taiwanese ocean shipping company Yang Ming Marine Transport Corporation has set up the new regional center in Mediterranean area named Yang Ming(Mediterranean) Marine Services Single-Member Limited Liability Company. The new company will start to provide services on 2nd April 2018 in Piraeus, Greece, and Mr. Ted Wu has officially been appointed as Managing Director for the first term. In light of the impressive economic growth in the Mediterranean region, Yang Ming sets up its owned company to serve as the regional center which will strengthen its presence and connect closer to Mediterranean…

12 Feb 2018

High Seas Standoff: Cyprus Says Turkey Blocks Drill Ship

Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for Eni said on Sunday the Saipem 12000 drill ship had been heading from a location southwest of Cyprus towards an area southeast of the island on Friday when it was stopped by Turkish military ships and told not to continue because of military activities in the destination area. Turkey, which does not have diplomatic relations with Cyprus, claims that certain areas in Cyprus's offshore maritime zone, known as an EEZ, fall into the jurisdiction of Turkey or that of Turkish Cypriots.

17 Sep 2017

Two New Shipping Lines to Hamad

Photo: Hamad Port

Two new maritime lines are launched from Hamad Port which will enhance Qatar’s trade connections with various ports in China, India, Malaysia, Turkey and Greece, among other countries. Qatar News Agency (QNA)  said that both lines will run on a weekly basis. The first line starts in the Mediterranean and will be serviced by with four ships, with a total capacity of 6,000 containers including 400 reefer containers. The China Gulf Express Service will connect Shanghai in China with Hamad Port…

14 Aug 2017

Gulftainer Receives Maiden Call of CMA CGM Virginia

Photo: Gulftainer Company Limited

Gulftainer, the largest privately owned independent port operator, has marked the maiden call of the CMA CGM Virginia vessel with a capacity of 5,095 twenty-foot equivalent units (TEU) at its flagship Khorfakkan Container Terminal (KCT). The vessel call was completed in a record 5.6 hours, approximately 8.4 hours ahead of schedule. CMA CGM, a leading worldwide shipping group, currently operates a diversified fleet of 445 vessels with a combined capacity of over two million TEU.

11 Jul 2017

APM Terminals Mumbai Adds New Arabian Gulf/Mediterranean Direct Service

Photo: APM Terminals Mumbai

French based CMA-CGM, a member of the Ocean Alliance, began the new INDIAMED service to Mumbai with the arrival of the 5,009 TEU capacity CMA CGM Virginia at APM Terminals Mumbai. The service, linking South Asia with ports in the Arabian Gulf and Mediterranean, was officially introduced on July 2nd, operating with vessels provided by CMA-CGM, its APL subsidiary, and Chinese-based Alliance partner COSCO. The weekly INDIAMED service provides the fastest transit times between India and CMA CGM hub ports in the Mediterranean and Arabian Gulf…

12 Jun 2017

CMA CGM Launches INDIAMED

Map: CMA CGM

CMA CGM has announced the launch starting July 2 of its new service between the East Mediterrane an, Djibouti, Arabian Gulf, Pakistan and India. The service is one of the fastest between these strategic zones and connects CMA CGM hubs in the Mediterranean and the Arabian Gulf. INDIAMED will complement our MEGEM (East Mediterranean to/from Middle East) and MEDEX (West Mediterranean to/from Middle East & Indian Sub-Continent) offering synergies between services to allow an improved port coverage of these areas and better connections.

13 Jun 2017

Shipping’s ‘Perfect Storm’ is Brewing -Allianz

© Tim Mueller-Zitzke / Adobe Stock

Large shipping losses have declined by 50 percent over the past decade, mostly driven by the development of a more robust safety environment by ship owners, according to Allianz Global Corporate & Specialty SE’s (AGCS) fifth annual Safety & Shipping Review 2017. In 2016 there were 85 total shipping losses reported, down 16 percent from 101 a year earlier. The number of shipping incidents declined slightly year-on-year by 4 percent with 2,611 reported, according to the review, which analyzes reported shipping losses over 100 gross tons.

19 Dec 2016

ZIM Announces Upgraded Lines Structure

Pic: ZIM Integrated Shipping Services Ltd

In order to improve its services and provide better solutions to market needs, ZIM is announcing a restructuring of its main services on major trades. The new, enhanced structure provides first-class services in the select trades the company is pursuing. The changes will commence in April 2017, offering customers an array of newly designed services catering to market needs, and providing efficient and viable solutions to customers’ evolving needs. ZIM is introducing a new service between Asia and the Pacific North West…

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