Ecuador News

SAAM reported net income of US$501 million in 2023, representing its best-ever results thanks to the sale of its port and logistics assets to Hapag-Lloyd, which generated a net gain of US$422 million.Sales for the year totaled US$540 million and EBITDA was US$160 million, surpassing the prior year by 17% and 9%, respectively."The sale of our port terminal and inland logistics operations leaves us in a solid position to move forward on the path we have set for ourselves: to lead the consolidation process in the towage industry and grow in air cargo logistics services.

Hurtigruten Group's expedition cruise line Hurtigruten Expeditions is rebranding with a new name, HX.The new HX brand and logo will be fully implemented starting in December, and repainting of the fleet’s six ships will commence over the next 18 months.Hurtigruten Norway will continue with the name simplified to just Hurtigruten.Both Hurtigruten Expeditions and Hurtigruten Norway are 100% owned by Hurtigruten Group and form a portfolio of sustainable travel brands that includes land-based activities…

Spanish police have made a record cocaine seizure, finding 9.5 tonnes of the drug hidden among boxes of bananas in a shipping container from Ecuador in the southern port of Algeciras.The stash was the largest ever found in a single container in Spain, the police said in a statement."This operation was an unprecedented blow to one of the world's most important criminal organizations in cocaine distribution, targeting major criminal networks in Europe," it said.The boxes were marked…

An offshore oil spill near Ecuador's coast reached a popular beach on Wednesday, authorities said, while also showing up in nearby waters as one local official blamed "human error" following a preliminary investigation into the incident. State oil company Petroecuador, which runs the Balao maritime terminal where the spill originated, said in a statement it had mobilized workers to contain it but did not disclose how much crude was unleashed into the ocean. The company added it had launched clean up efforts.

The IMO has launched a video about the work of the GloFouling Partnerships project. Filmed amongst the stunning wildlife of the Galapagos, it illustrates the urgent need to tackle the threat of biofouling to vulnerable marine ecosystems and shows the work that IMO and its partners are doing to protect the precious biodiversity of the world’s oceans. The IMO's Glofouling Partnerships project team recently travelled to the Galapagos Islands, 1,000km off the coast of Ecuador, to…

The OPEC Fund for International Development has signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform.The platform is a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.The ETAF platform, established by IRENA and backed by the United Arab Emirates, initially aimed to mobilise at least USD one billion of capital by 2030.

A major joint operation organised by the Australian Border Force (ABF), World Customs Organization (WCO), the World Shipping Council and the UN Office on Drugs and Crime (UNODC) has led to 43 arrests and more than 100 drug seizures, including 98,734 kilograms of cocaine and 314 kilograms of cannabis.58 countries were involved, and the ABF worked alongside officers from German Customs, United Kingdom Border Force, US Customs and Border Protection and the Dutch Customs Administration to deliver a series of coordinated strikes on organised crime.The operation…

Malmö, Sweden-based Chris-Marine is long-tenured in the business of keeping engines running smoothly, efficiently. Led by its energetic young CEO Jens Groth, this 60-year-old- company finds itself in transition: firmly rooted in its traditional business of creating the tools and technique to keep commercial ship engines running smoothly, but at the same time transitioning its revenue to include services, particularly as ships at sea increasingly run with fewer, less experienced crew.

The CMA CGM Group said this week it had received the arrival of the CMA CGM Argentina containership as its largest vessel to call at the Honmoku D4 terminal in Yokohama, Japan.The containership is one of two 15,000-TEU series that the group has deployed on the weekly Asia Central South America 1 (ACSA1) service. Arriving from central and south America, the CMA CGM Argentina is now the largest containership to call a Japanese port on a regular service and has brought import shipments of fresh fruits from Ecuador and Guatemala…

Insecurity in Ecuador is hurting the Andean country's exports of products like bananas and shrimp, an exporters association said, amid assaults on shipping containers and contamination of shipments with drugs.At least 63 people linked to exports of bananas, shrimp and cacao - the raw material used to make chocolate - were murdered by organized criminal groups in 2022, while another 1,500 have been injured during attacks, the Corporation of Ecuadorean Exporter Associations (Cordex) said.The three sectors…

Lindblad Expeditions has shared images of its newest fleet addition ahead of the vessel's inaugural voyage in the Galápagos Islands.The National Geographic Islander ll is an expedition cruise ship acquired to replace Lindblad Expeditions' vessel National Geographic Islander for year-round operations in the Galápagos. Accommodating just 48 guests in 26 suites, the ship will sail for Lindblad Expeditions with a 1:1 guest-to-crew ratioThe 3,370 GT, 280-foot-long ship was built by…

The 2022 biennial, multi-national Rim of the Pacific's (RIMPAC) exercise has come to a close.This year’s exercise with the theme of “Capable Adaptive Partners,” featured 26 participating nations and 38 surface ships, three submarines, more than 30 uncrewed systems, approximately 170 aircraft, and more than 25,000 personnel.RIMPAC 2022 featured a wide range of capabilities--projecting the inherent flexibility of maritime forces and helping to promote a free and open Indo-Pacific, and took place in and around the Hawaiian Islands and Southern California, June 29 to Aug.

U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.Higher heavy-crude imports are common in summer-driving months, but this year's increase comes as the Biden administration is calling on for refiners to ramp up output and shave profit margins to ease soaring prices. The administration has asked for a parley to explore further efforts.Heavy crudes are cheaper than lighter shale oils produced in the United States and typically make more diesel and less gasoline.

Global energy trader Gunvor Group reported a net profit of $726 million for 2021, the highest since 2015, buoyed by its natural gas and liquefied natural gas (LNG) divisions, the company said on Tuesday.The profit was the highest since 2015 when net profit was boosted by the sale of most of its Russian assets and was up on the $320 million the Geneva-based company made in 2020 when refining impairments took the shine off its record gross profit.Gunvor's rivals have seen record profits on higher oil volatility and skyrocketing natural gas prices in the second half of 2021.

Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand.Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78.70 by 1427 GMT. U.S. West Texas Intermediate (WTI) crude edged 32 cents lower to $75.65 after touching $76.17.Both contracts are trading near their highest in a month, aided by strength in global equities."Markets are overwhelmingly pricing in the latest coronavirus variant as a milder incarnation…

SAAM Towage and Caterpillar Marine signed a global services agreement aiming to help boost the efficiency of the fleet of tugs operated by the Americas towage services provider. This will be accomplished using digital solutions for planned and preventative maintenance.According to SAAM’s Technical Manager, Pablo Cáceres, “This partnership will let us continue to focus on providing safe, efficient and more environmentally friendly services. It will also strengthen our digital transformation strategy.”The agreement calls for ongoing review of more than 200 Cat engines…

DMW Marine Group appointed TECHNONAVAL of Miami, Fla., to represent the company in Florida, Panama, Ecuador and Greece to market DMW's products and services. Leonidas Lavdas, Managing Director of TECHNONAVAL has decades of experience in the cruise ship business and dealing with shipyards around the world. In addition, he has strong ties to the Greek shipping industry.

Mercy Ships is known globally for its charitable work performing medical procedures in developing countries. For the first time, the organization has a new ship, Global Mercy, recently delivered from a shipyard in China. Jim Paterson, Marine Executive Consultant, Mercy Ships takes Maritime Reporter & Engineering News inside the construction of the world’s largest civilian hospital ship.Jim Paterson already had a career and Chief Engineer’s Certificate when he joined Mercy Ships nearly 34 years ago, in search of a life change to make a difference.

A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists.The constitutional claim - the first of its kind in the English-speaking Caribbean - asserts that oil exploration and production led by U.S. oil major ExxonMobil off the South American country's coast is unconstitutional, said the case's lead lawyer Melinda Janki.Filed by two Guyanese citizens in late May before the tiny nation's constitutional court, the lawsuit centers on the duty of the state to protect the environment for present and future generations…

Gambian authorities seized nearly three tonnes of cocaine from a shipment of industrial salt originating in Ecuador, a spokesman said on Friday, in one of the largest ever busts in West Africa.The 118 bags of cocaine were discovered on Thursday during a search of a container shipped from the port of Guayaquil in Ecuador and through Algeciras in Spain, said Ousman Saidybah, a spokesman for Gambia’s drug enforcement agency.It was not clear where the cocaine was ultimately headed.

Some 200 workers from 27 nations are building a hybrid sailboat on the Pacific coast of Costa Rica designed to carry 350 tons of goods, hoping to demonstrate that in the 21st century it is possible to transport cargo without polluting the environment.Inspired by the historic Finnish trading schooner Ingrid of the Aland Islands, the firm Sailcargo Inc says it designed the vessel named Ceiba “to be the first of its kind in the world.” It will rely mostly on wind power with two auxiliary…

A tanker vessel rescued of 18 Ecuadorians after their 72-foot commercial fishing vessel sank Friday approximately 350 miles north of the Galapagos Islands, the U.S. Coast Guard said.USCG 11th District watchstanders received an alert from an emergency position-indicating radio beacon from an unknown vessel north of the Galapagos Islands at 4:30 a.m. Friday.District watchstanders requested aerial support and notified Ecuador who began to investigate the EPIRB’s registration and…

Damen Shipyards Group is delivering an ASD Tug 2813 to Cititug in Ecuador. The vessel, to be named ASD Mater, in honour of the Virgin Mary, will operate in the bunkering terminal of the Port of Esmeraldas.The contract for the ASD Tug 2813 was signed in February this year between Xavier Game, owner of Cititug and Marnix Brouwer on behalf of Damen. The speed of the vessel’s delivery is facilitated by Damen’s practice of building standard vessels for stock – in this case at Damen Song Cam Shipyard in Vietnam.Although based on a proven Damen design…