Asian Workshop Addressing Marine Litter
Marine litter poses significant risks to the marine environment, ecology and human health, and is a global concern. International Maritime Organization (IMO) has been taking action to address the problem, including regulating garbage discharge from ships and helping countries build up their human and technical capacities. An IMO Regional Workshop on MARPOL Annex V and Port Reception Facilities for the ASEAN Region took place in Ho Chi Minh City, Viet Nam (27-29 June). The workshop…
18 Missing After Indonesian Migrant Boat Capsizes
Rescuers were scouring the waters off Malaysia's southern coast on Monday for 18 people missing after a boat carrying migrants from Indonesia capsized, killing one woman, a Malaysian maritime official said. Southern Malaysian waterways, which border Indonesia and Singapore, include busy international shipping lanes and rich fishing grounds. Overloaded migrant boats also ply the waters and occasionally run into trouble. Twenty-five people, including a woman, were rescued after the boat, believed to be carrying 44 illegal immigrants, sank early on Monday, said Abu Bakar Idris, an official of the Malaysian Maritime Enforcement Agency (MMEA).
Pertamina Ends 'Unfeasible' LNG Terminal Project
Indonesia's state owned energy holding company, Pertamina, has decided not to go ahead with what would have been the country's second land-based receiving terminal for liquefied natural gas (LNG), its chief executive said on Monday.Indonesia has forecast sharp increases in gas demand after 2020, but increases in domestic consumption of the super-cooled fuel have been hampered by an abundance of cheap coal and sluggish development of gas infrastructure."Today we are not going ahead, because it is not yet feasible to continue," Pertamina acting CEO Nicke Widyawati told reporters, referring to the project that would have been built in Bojonegara…
Ship Finance Sells Three VLCCs and a Jack-up Rig
Ship Finance International Limited announces that it has agreed to sell the 2007-built jack-up drilling rig Soehanah to an unrelated third party and three 2002-built VLCCs to ADS Crude Carriers Ltd., a newly established company in which Ship Finance has acquired a 17 percent interest.Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment, "Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet. Over the last three months…
Shipper's Live Export Licence Cancelled after Sheep Deaths at Sea
Australia's government has cancelled the live export licence of the country's biggest livestock shipper, Emanuel Exports Pty Ltd, after investigating the death of thousands of sheep during a shipment to the Middle East last year.In a statement issued late on Tuesday, the government didn't specify why the licence had been revoked, but said the move followed "a thorough investigation and show cause process".Perth-based Emanuel Exports, which has shipped sheep to the Middle East for 55 years…
Seized Superyacht Linked to 1MDB Probe Arrives in Malaysia
A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized.The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of Bali in February at the request of U.S. authorities investigating 1MDB.The Malaysian state fund is at the center of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore.
Marine Environment Protection for Southeast Asia Seas Project Launched
Seven ASEAN countries have formally launched an ambitious initiative aimed at improving the environmental health of the seas in the region, through the implementation of key International Maritime Organization (IMO) marine environment protection treaties. Senior decisions makers of maritime administrations of the beneficiary ASEAN countries (Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, and Vietnam) met for their first high-level regional meeting in Bali, Indonesia (25-27 June), to kick-start the “Marine Environment Protection for Southeast Asia Seas (MEPSEAS) Project”.
Aegean Marine Shares Soar as Mercuria Provides $1 bln Lifeline
Energy trader Mercuria Group has agreed to provide a $1 billion trade finance facility to Greece's Aegean Marine Petroleum Network, the marine fuel logistics and supplies company said on Thursday, sending Aegean's stock up more than 150 percent.New York-listed Aegean Marine underwent a major leadership change this year after losses prompted an activist investor revolt to sever ties with the company founder, shipping and oil tycoon Dimitris Melissanidis.Aegean announced a $200 million write-off in early June after a new chairman, Donald Moore, was appointed in May to lead a strategic review.Shares in Aegean were up 127 percent at $1.43 as of 1359 GMT, having risen as high as $1.53.Swiss-based Mercuria will initially inject at least $30 million in cash, Aegean Marine said.Aegean Marine also
ASEAN Members Strengthen Oil Spill Preparedness
Oil spill contingency planning is in the spotlight at an IMO regional workshop in Pulau Indah, Malaysia (2-6 July). The workshop is helping countries (ASEAN Member States: Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Thailand, Vietnam and Singapore.) in South East Asia become more familiar with the ASEAN Regional Oil Spill Contingency Plan - designed to enhance cooperation between States. Participants are reviewing a number of aspects of the plan and exercising its communication procedures.
Yang Ming Marine Transport Upgrade China-Indonesia Service
Taiwanese ocean shipping company Yang Ming Marine Transport Corp. (YM) will upgrade its China to Indonesia Service (CTI service).Four container vessels of nominal 4,250TEU will be deployed for the service effective on 7th August 2018.They will serve customers not only from Central & South China to/from Jakarta & Surabaya but also provide direct service from Davao to Kaohsiung & China.The CTI service will make a round voyage in 28 days. The rotation of ports of call are: Shanghai–Ningbo–Shekou–Jakarta–Surabaya–Davao–Kaohsiung– Shanghai.
Shipping Losses Continue to Fall
Large shipping losses have declined by 38 percent overall in the past decade, according to the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS).Further, the number of total losses declined by 4 percent to 94 last year, the second lowest number in a decade.“Insurance claims have been relatively benign, reflecting improved ship design and the positive effects of risk management policy and safety regulation over time,” says Baptiste Ossena, Global Product Leader Hull & Marine Liabilities…
Solstad Farstad Bags Contract with Fairfield Industries
Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020, upstream oil and gas regulator SKKMigas said."Chevron was not interested in requesting an extension," SKKMigas chairman Amien Sunaryadi told reporters.
Oldendorff Inks Transhipment Deal in Vietnam
Oldendorff Carriers said it has signed an integrated coal transport and transhipment agreement for a new power station project to be built in the North of Vietnam at Nghi Son. The customer is a consortium between Marubeni Corp of Japan and Korea Electric Power Corporation (Kepco) named Nghi Son 2 Power Limited Liability Company (NS2PC).The agreement is expected to include the transportation of about 100 million metric tons of coal over 25 years. Oldendorff Carriers signed the 25-year agreement with NS2PC…
China Navigation Company Opens Vancouver Branch
China Navigation Company (CNCo), part of the Swire Group, has expanded its presence in North America by establishing a branch office in Vancouver, Canada.The opening ceremony was graced by Bruce Ralston, Minister of Jobs, Trade & Technology, British Columbia, who unveiled a plaque in the CNCo office located at W Hastings Street.Minister Bruce Ralston said, “The Province recognises the significant contribution that The China Navigation Company makes to the shipping industry worldwide.
Piracy Risk Persists in Gulf of Guinea -Report
The second quarterly report from the ICC International Maritime Bureau (IMB) shows that all 2018 crew kidnappings have so far occurred in the Gulf of Guinea in six separate incidents.A total of 107 incidents were reported to the IMB Piracy Reporting Centre (PRC) in the first six months of 2018. In total, 69 vessels were boarded, with 23 attempted attacks, 11 vessels fired upon and four vessels hijacked. No vessels were reported as hijacked in the second quarter.The number of crewmembers…
Sovcomflot Group Launches SCF Far East Tall Ships Regatta 2018
Russia’s largest shipping company Sovcomflot Group (SCF Group) informed that the SCF Far East Tall Ships Regatta 2018 was officially launched. This marks the first time that Russia’s Far East will host an international tall ship race.The principal competition begins on 1 September with the race from Yeosu (South Korea) to Vladivostok, with over 20 vessels from Russia, Japan, China, South Korea, Indonesia, and other countries competing to be the first to cover the distance of over 500 nautical miles. The ships are expected to arrive to Vladivostok on 8-9 September 2018.
Twill Replaces Damco with Maersk
Twill, a digital freight forwarder designed to make shipping simple, has announced a change in its brand affiliation from Damco to Maersk.Launched in April 2017, Twill was created as a ‘Damco innovation’ and operated as a partner with the freight forwarder and supply chain management company, which is part of A.P. Moller - Maersk.The realigning of the brand will make it possible to offer Twill to all Maersk customers, in line with the A.P. Moller - Maersk strategy to become a…
The USD1trln African Maritime Industry Mulls Further Growth
The blue economy can be the engine of economic growth, the basis of socio-economic development and industrialization for many African countries, if well utilized.The maritime industry, for example, is estimated at over $1 trillion, and there are other related and emerging sectors of tourism, offshore renewable energy, aquaculture, seabed extractive industries, marine biotechnology and bio prospecting.Said Adejumobi, Southern Africa Director, UN Economic Commission for Africa (ECA) said that the Economic Commission for Africa is fully committed to supporting the African Union…
ReCAAP ISC, Philippine Coast Guard Meet on Maritime Safety
ReCAAP Information Sharing Centre (ISC) and Philippine Coast Guard this week co-organised a meeting between government agencies and the shipping industry to enhance maritime safety and security in the Sulu-Celebes seas and waters off eastern Sabah.The meeting brought together key littoral stakeholders including relevant government agencies in the Philippines, the Philippine shipping industry, the Indonesia Coast Guard (BAKAMLA), as well as members of the diplomatic community in Manila to review the current situation in the Sulu-Celebes Seas…
Höegh LNG Secures Debt Financing for 9th FSRU
Norway's floating storage and regasification unit (FSRU) giant Höegh LNG said it has secured a USD 177 million debt financing for its FSRU delivery unit number 9. The FSRU is scheduled to be delivered in the fourth quarter of 2018. The facility comprises a 12-year tranche of USD 132 million guaranteed by K-SURE (South Korean export credit agency) and a five-year non-amortising commercial bank tranche of USD 45 million. A combination of existing and new lenders are participating…
Noble Corporation Buys Gusto MSC CJ46 Design Jackup Rig
Noble Corporation has announced the purchase of a new Gusto MSC CJ46 design jackup rig from the PaxOcean Group (PaxOcean) in connection with a concurrently awarded drilling contract.Noble paid $33.75 million of the $93.75 million purchase price in cash, with the remainder of the purchase price, or $60 million seller-financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over the term of the financing.The Company used existing cash balances for the initial payment and the secured seller-financed amount is to be repaid in four years.
Indonesians Face Daunting Task to Recover Bodies from Sunken Ferry
Indonesian teams searching a lake for a sunken ferry in the hope of recovering nearly 200 bodies trapped inside have to contend with dangerous currents and cold, murky water far deeper than any scuba diver can ever go.The over-loaded ferry Sinar Bangun sank in bad weather in Lake Toba on Sumatra island on Monday. The lake, in the crater of an ancient supervolcano, is ringed by steeply sloping mountains, and is about 450 meters (1,500 feet) deep.Three people have been confirmed…