Yang Ming Cuts Losses, Optimizes Fleet
Taiwanese ocean shipping company Yang Ming Marine Transport Corporation said that its 3rd quarter net loss after tax for Q3 was USD 30 million, a reduction of 76.16% compared to last quarter, and USD 220 million for the nine-month period.However, in Q3 2018, Yang Ming posted consolidated revenues of USD $1.3 billion, a growth of 15.2% compared to the second quarter of the year.According to a press statement Yang Ming, one of the main reasons for the loss was an “unfavourable supply-demand balance”…
Six Activists Released After Detention on Palm Oil Tanker Issue
The six activists who were detained for 33 hours on board a shipment carrying dirty palm oil into Europe have been released by Spanish authorities in Algeciras.The Greenpeace International volunteers climbed onto the Stolt Tenacity tanker at dawn on Saturday, and delayed its journey from Indonesia to The Netherlands for almost two days.The climbers were protesting a 185-metre long cargo loaded with palm oil products from Wilmar, the biggest palm oil trader in the world, which…
Stena Bulk Forms Chemical Tanker JV with Bay Crest Management
Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.
Konecranes Wins New Order for RTG System from Indonesia
The smart terminal solutions provider Konecranes has received another order for the delivery of an Automated RTG (ARTG) System to PT Prima Terminal Petikemas, a subsidiary of state-owned port operator PT Pelabuhan Indonesia I (Persero).The ARTG system on order includes 12 ARTG cranes with associated software, interfaces and services, said a press release from the company.The 12 ARTGs will be delivered in January 2020 to Belawan Container Terminal, Phase 2 in Medan, North Sumatra.
EU Commits USD 341 million for Clean, Healthy and Safe Oceans
The European Commission (EC) has announced EUR 300 million (USD 341 million) of EU-funded initiatives, which include projects to tackle plastic pollution, make blue economy more sustainable and improve research and marine surveillance.According to a communication from EC, this important contribution comes on top of the over €550 million committed by the European Union, when it hosted the Our Ocean conference last year in Malta.High Representative/ Vice-President Federica Mogherini said: "The state of our oceans calls for determined global action.
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…
Adidas Partners with APM Terminals
APM Terminals opened the most advanced container terminal in Mexico. Adidas has since moved the bulk of its inbound goods flow to the terminal in Lazaro Cardenas, where automated gates, an efficient on-dock rail facility and a secure gateway to Mexico City support faster cargo delivery.Adidas Mexico imports about 90% of its products from Asia, mainly Vietnam, Indonesia, China, Cambodia, and Pakistan. With plans to deliver 50% of its products to store shelves within 45 days of being manufactured by 2020…
Largest Chinese-built FSRU Delivered
PaxOcean’s Zhoushan Shipyard has delivered a 26,000m3 floating storage and regasification unit (FSRU) Karunia Dewata to Indonesia-based Jaya Samudra Karunia (JSK). The FSRU is the largest to be built in China and will be capable of regasifying around 50 million standard cubic feet per day.The project marks a milestone for China's growing gas shipping industry and will help increase the development of Indonesia’s gas supply chain, where the unit will be based. The unit is also the first FSRU that PaxOcean has built.
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…
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…
Global Maritime Community Strengthen Co-Operation in SOMS
More than 180 participants from around 80 maritime administrations and organisations, as well as embassies in Singapore, attended the 11th Co-operation Forum yesterday (September 24), where they reaffirmed their commitment to strengthen cooperation in the Straits of Malacca and Singapore (SOMS).The Co-operation Forum is one of the three pillars of the Co-operative Mechanism on Safety of Navigation and Environmental Protection in the SOMS. It is the main avenue for the three littoral States (Indonesia…
IMO Focus on Maritime Security
Maritime security is a key element of International Maritime Organization (IMO)'s work and, over many years, the Organization has developed a number of measures to help promote and sustain it.The focus is now on helping countries build their capacity to put these measures into practice, said a press note from IMO.IMO regularly partners with other agencies to do this. As part of a continuing collaboration with the UN Office on Drugs and Crime (UNODC), a national contingency-planning…
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.
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.
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…
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.
Piracy Rises 3% in Asia
A total of 64 incidents of piracy and armed robbery against ships were reported in Asia during January-September 2018, a 3 percent increase compared to the same period for 2017, ReCAAP ISC said in its latest report.Of the 64 incidents so far in 2018 (including 50 actual incidents and 14 attempted incidents), three were incidents of piracy and 61 were incidents of armed robbery against ships.Of the 50 actual incidents reported, one was a CAT 1 incident, five were CAT 2 incidents, 10 were CAT 3 incidents and 34 were CAT 4 incidents.
Timas Suplindo Charters Telford Construction Vessel
Dubai-headquartered offshore services provider Telford Offshore said it has been awarded a charter party from Indonesian contractor Timas Suplindo for its DP3 multipurpose accommodation and offshore construction vessel Telford 25.The three-month contract, with options to extend, will see Telford 25 support a range of services for the TSB Phase 2 Development offshore Indonesia.“Over the course of this project the T25 will demonstrate her versatility by supporting multiple activities such as flexible pipelay…
Pew Charitable Trust Joins IMO to Tackle Fishing Safety
Commercial fishing is one of the world's most dangerous professions yet the internationally-binding instrument which specifically addresses fishing vessel safety, the Cape Town Agreement, is not yet in force – because it needs more countries to ratify it.That's why International Maritime Organization (IMO) has teamed up with the Pew Charitable Trust, an NGO, to organise a series of seminars for government officials and industry representatives in key developing countries, to…
IMO Rolls-out Auditing Scheme
Auditing International Maritime Organization (IMO) Member States to assess how effectively they administer key IMO treaties is an important part of the Organization's work to ensure its regulatory framework is universally adopted and implemented.According to IMO release, a regional training course for auditors under the IMO's Member State Audit Scheme (IMSAS) took place in Busan, Republic of Korea (29 October - 2 November).The training provided specific skills in auditing Member States using the IMO Instruments Implementation Code as the audit standard.