Grieg Star Recycles Ship Under New EU Regulation
Norway's bulk and shipping company Grieg Star said that its cargo vessel Grieg Star, is the first vessel in the company to be sent for recycling, under the new EU recycling regulations.According to the Norwegian shipping company, the vessel began the recycling at Leyal Ship Recycling Group in Turkey, on February 20."We recycled our first vessel 18 years ago at a yard in China. Ever since, we have been committed to a sustainable recycling of our vessels. Since 2010, we have trusted on Grieg Green to secure sustainable recycling of our vessels. As such, Star Gran follows our standard practice.
DP World buys back P&O Ferries for $421 mln
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 $
Tankers with Venezuelan Oil Collect off US
A flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay, according to traders, shippers and Refinitiv Eikon data.The Trump administration's move to impose sanctions last week was meant to undercut support for Venezuelan President Nicolas Maduro by targeting the Latin American nation's oil exports to the United States, the source of most of its foreign revenue.The sanctions aim to block U.S.
Mnuchin: China Talks "So far, so good"
U.S. Treasury Secretary Steven Mnuchin said talks with China went well on Wednesday, as the world's two largest economies try to iron out an agreement to resolve their trade dispute."So far, so good," he said when asked by reporters on how the meetings in Beijing went. He did not say who he met.Mnuchin said earlier he hoped for "productive" trade meetings as the two countries seek to end a festering dispute that has seen both sides level tariffs at one other.U.S. tariffs on $200…
Norway's Snow Crab Ruling Boosts Oil Claim
A court delivered a painful nip to European Union fishermen on Thursday by tightening Norway's grip on snow crab catches in the Arctic, a ruling that may also let Oslo claw more control of oil and gas from other nations.Fishermen from the European Union must ask permission from Oslo to catch snow crab — whose meat is a delicacy for gourmets from Canada to Japan — in Arctic waters north of Norway, the Norwegian Supreme Court said in a unanimous ruling.The court dismissed an appeal…
EIA: Azerbaijan Surges in Natural Gas
Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf, according to EIA’s International Energy Statistics.“Azerbaijan is planning to expand its natural gas exports to Europe.
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
Making a Difference: Interferry acts on industry’s major issues
Interferry CEO Mike Corrigan reflects on the global trade association’s hectic year of involvement in three key areas of concern.Readers with long memories will have a strong sense of déjà vu when I say that safety, security and the environment are at the forefront of Interferry’s networking and lobbying mission right now. I highlighted the very same issues in this column last January, so let me explain why I’m not entirely repeating myself.It’s a fact of life that a lot can happen in a short space of time.
Stranded Migrants to Leave Rescue Ship - Italian PM
Italian Prime Minister Giuseppe Conte said 47 migrants who have been blocked at sea off Sicily for 11 days on a rescue ship will be allowed to come ashore on Wednesday, ending the latest migrant standoff."In a few hours, they will begin to disembark," Conte told reporters in Milan. The migrants have been on the vessel since they were rescued off the Libyan coast.Italy's populist government, which took office last year, has closed its ports to humanitarian vessels in a bid to force European Union partners to take a share of those rescued in the Mediterranean.The Dutch-flagged Sea-Watch 3, which is run by a German humanitarian group, has been moored off the coast of Sicily as it waits for a safe port.
BREXIT: North P&I Gets OK for Dublin Brexit Hub
British ship insurer North has received regulatory approval from Ireland's central bank for a new subsidiary in Dublin to ensure continued access to trade in the European Union in case Britain loses single market access, the firm said on Friday.North, which has its headquarters in the northern England city of Newcastle, is the first specialist Protection and Indemnity (P&I) club to announce regulatory approval for Brexit trading arrangements in the EU. It said a team of senior…
EU Takes Aim at Turkish Steel Sector Buckling Under Trump Tariffs
The European Commission's move to extend its steel import restrictions threatens to force Turkish mills, already buckling under the weight of U.S. tariffs, to cut production further or in some cases close down, sources said.The Commission said on Wednesday it will extend and beef up its existing "safeguard" steel import caps until July 2021 to counter concerns that European Union markets are being flooded with steel no longer being exported to the United States.For Turkey's vast steel sector, the fourth largest contributor to the country's economy, the caps could prove particularly painful as the EU has given it additional "country-specific" quotas.Under the safeguards…
LNG REPORT: LNG Bunkering Vessels Rise to Nine, 30 More to Come
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…
Transport Firms Reviewing UK-registered Ships Ahead of Brexit
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…
Italian Coastguard Holds Migrant Rescue Ship in Sicily
Italy's coastguard on Friday blocked the Sea-Watch 3 migrant rescue ship in the port of Catania citing safety and environmental concerns, delaying the vessel's plans to return to patrolling the Libyan coastline.After a long standoff with the Italian government, on Thursday the Dutch-flagged vessel, run by a German charity, was allowed to disembark 47 migrants it had rescued at sea on Jan. 19 in the Sicilian port.Coastguard inspectors who boarded the Sea-Watch on Thursday found "irregularities" relating to safety and environmental standards.
Alexandroupolis FSRU Delivery Delayed by Six Months
Greek utility company Gastrade has extended the timeline for completion of its Greek LNG development by six months to allow more time for the delivery of offshore floating, storage and regasification unit (FSRU) for the Alexandroupolis Independent Natural Gas System Project.Gastrade, the developer of the 5.5 billion cubic metre per year regasification project, has pushed back its completion date from the end of 2020 to the second quarter of 2021 to give interested suppliers more time to deliver an FSRU.The project is being developed by Gastrade…
Dredging Starts at UK Port That May be Used in No-Deal Brexit
Work began on Thursday to extend a small British port that could serve as a back-up if the UK leaves the European Union with no trade deal, providing the government some respite after days of criticism.Less than three months before Britain leaves the EU on March 29, the transport minister has been forced to defend awarding a 14 million pound ($18 million) contract for shipping goods to a new ferry company that has no ships.On Thursday the company, Seaborne Freight, came in for further criticism when its business terms and conditions showed references to placing "any meal/order"…
DFDS Gets Brexit Contract by the UK
Danish shipping and logistics company DFDS has been awarded a contract by the UK government to provide additional ferry capacity in the North Sea.Maria Anagnostou, Fleet Management, will be responsible for handling DFDS’ contract about additional ferry capacity in the North Sea with UK Department for Transport.The UK Department for Transport announced that it had signed a contract with DFDS to provide additional ferry capacity to prepare for “the possibility of severe congestion at and around UK ports from 29.3.2019…
UK Defends Brexit Ferry Contract to Inexperienced Ferry Operator
Britain's transport minister has defended awarding a 14 million-pound ($18 million) contract for shipping goods after Brexit to a new ferry company that owns no ships.The government last week awarded three contracts to charter extra ferries to ease congestion if the United Kingdom fails to secure a trade deal before leaving the European Union in March.The smallest contract was won by Seaborne Freight, a British business that has never previously operated a ferry route, raising concern about whether the new service would be ready."I make no apologies for supporting a new British business," Transport Minister Chris Grayling told BBC radio on Wednesday. "We have looked very carefully at this business.
Shipbuilding: French, German Intervention Upsets Italy
Italian Deputy Prime Minister Matteo Salvini attacked France and Germany on Tuesday over their role in a European Union investigation into a planned merger involving Italian shipbuilder Fincantieri."What has happened is extremely serious, France and Germany behaved wrongly.
Malta Allows Migrants to Disembark Ahead of EU Redistribution
Malta will allow 49 migrants who have been stranded at sea for weeks to disembark in Valletta, Prime Minister Joseph Muscat said on Wednesday, adding that they will then be re-distributed among eight European Union countries.The Sea-Watch 3, a vessel run by a German humanitarian group, plucked 32 people from an unsafe boat off the coast of Libya on Dec. 22. Another German charity, Sea-Eye, rescued 17 others on Dec. 29.They have both been sailing back in forth in Maltese waters for days after Italy, Malta and all other EU countries refused to offer them a port of safety."The migrants will be transferred from the ships to Maltese patrol boats and brought to Malta.
Troubled Shipbuilder Uljanik Draws Investor Interest
Croatia's largest shipbuilder Uljanik, which is trying to attract investors to stay afloat, extended a due diligence process until late next week after drawing the interest of potential strategic partners.Croatia's Economy Minister Darko Horvat said four potential investors were looking at Uljanik's business data and another company was also interested, but did not elaborate."I expect at least two serious offers for Uljanik at the end of this process which would then prevent its bankruptcy…
Global Piracy Up in 2018, Gulf of Guinea Leads
Piracy increased on the world’s seas in 2018, with a marked rise in attacks against ships and crews around West Africa, the International Chamber of Commerce’s International Maritime Bureau’s (IMB) latest annual piracy report reveals.Worldwide, the IMB Piracy Reporting Centre (PRC) recorded 201 incidents of maritime piracy and armed robbery in 2018, up from 180 in 2017.The Gulf of Guinea remains increasingly dangerous for seafarers. Reports of attacks in waters between the Ivory Coast and the Democratic Republic of Congo more than doubled in 2018…
Verifavia Shipping Leads in EU MRV and IMO DCS IT System Certification
Verifavia Shipping claimed success in the independent certification of IT systems and solutions designed to support compliance with the International Maritime Organisation’s (IMO) Data Collection System (DCS) regulation and European Union (EU) Monitoring Reporting and Verification (MRV).With both regulations now in force, increasing numbers of IT systems are available to assist ship owners and operators in collating and reporting emissions data, all of which need to strictly adhere…