Marine Link
Tuesday, October 23, 2018

Maritime Law & Regulations News

Kvaerner Eyes Growth, Mergers as Profits Decline

Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares.Kvaerner's quarterly earnings before interest, tax, depreciation and amortization (EBITDA) fell to 76 million crowns ($9.19 million) from 245 million crowns a year ago."In a period where some recently awarded projects are not yet recognising margin and with less effects from milestones and incentives in other projects, this influences EBITDA and margins, as ex

Naval Group Launches LIBRT

Naval Group said it has developed a high performance and highly secure Li-ion batteries system to provide its conventional submarines with improved operational capabilities, as well as an immersion period and reloading time largely optimized."The navies that will operate this new technology will boast a major technological superiority on theaters of operations," the company said.This project involved close cooperation between Naval Group, Saft, CEA Tech and EDF R&D.The Li-ion batteries system LIBRT, improved security and performances on board submarines developed by Naval Group LIBRT increases significantly the submarines’ submerged endurance and improves its stealth…

LNG Shipping Rates Double Since End-August

© Björn Wylezich / Adobe Stock

Headline rates for shipping liquefied natural gas (LNG) in Pacific and Atlantic basins stand at around $140,000 to $150,000 a day for a 160,000 cubic meter LNG tri-fuel diesel electric (TFDE) vessel, brokers say.That is a 6-year high and compares to Atlantic basin rates of $75,000 at the end of August and around $95,000 at the end of September.Rates have jumped due to supply from new plants, longer distances traveled and anticipation of higher prices prompting shippers to lock in longer-duration contracts."Charterers continue to lock in multi-month contracts ahead of the winter and we continue

Drydocks World Completes FPSO Upgrade, Turret Mooring Project

Photo: Drydocks World

Drydocks World has recently completed two projects for Bluewater Energy Services B.V. and end client Hurricane Energy plc.The projects included the refurbishment, life extension and upgrade of the FPSO Aoka Mizu vessel, and the construction of a Turret Buoy weighing over 1,000T. In addition to the complex buoy construction project, Drydocks World teams fabricated and installed over 1,000T of structural steel, 1,800 pipe spools (including Duplex), and 55km of cables on the FPSO.The FPSO Aoka Mizu will be deployed on the Lancaster field…

Greece, Turkey Snipe Over Maritime Borders

Turkey warned Greece on Tuesday it would not tolerate a shift in Greece's maritime border, drawing a sharp rebuke from Athens that it would decide when and how it exercises its sovereign rights.The statements from both sides came a few days after Greece's former foreign minister said Greece planned to extend its territorial waters to 12 miles to the west of the country.Territorial waters are a sensitive issue between the two neighbors and NATO allies, who are separated by the Aegean Sea and have been at odds over airspace, ethnically split Cyprus and offshore mineral rights for decades.Turkey has previously warned it could not preclude military action to defend its interests.Former Greek Foreign Minister Nikos Kotzias…

Shore Power: Holland America Line Plugs In

MS Eurodam retrofitted with ABB shore power connectors (Photo: ABB)

ABB shore power connectors retrofitted to three Holland America Line vessels will help these ships achieve low emissions in port anywhere in the world.Cruise line Holland American Line will retrofit three of its vessels with ABB‚Äôs innovative shore power connectors that allow the ships to draw on land-based electrical grids when docked in port.Holland America Line proactively encompasses programs that aim to reduce emissions and comply with international regulations and environmental guidelines ‚Äď and seeks to exceed these requirements wherever possible.

MAN Energy Solutions Launches EGR Blower

MAN's Shanghai ceremony as it rolls out a new EGR solution.CREDIT: MAN

A Shanghai, China Celebration for MAN's newest solution for Tier III Compliance. The first order has already been won.ETB (Electrical Turbo Blower) raises exhaust-gas pressure to overcome the pressure difference between exhaust gas and scavenging air receiver by actively controlling the exhaust gas flow; strategic step to bring development in-house; design focuses on cost-optimisation and compactnessMAN Energy Solutions has launched its new EGR (Exhaust Gas Recirculation) electrical…

HC2 Holding Mulls Global Marine Sale

Pic: Global Marine Group

The diversified holding company HC2 Holdings announced that it is exploring strategic alternatives, including a potential sale, for its  Global Marine Group (GMG)  subsidiary.As part of this process, Global Marine Holdings, a leading provider of offshore engineering services to the telecommunications, renewables and oil & gas industries through its operating subsidiary Global Marine Systems Limited, has engaged Deutsche Bank Securities Inc. and ABN AMRO Bank as joint advisors to explore strategic alternatives for the business."Since our acquisition four years ago‚Ķ

European Shipowners Hail EU-Singapore Trade Pact

Pic: UK Chamber of Shipping

The European Union and Singapore signed three agreements to take their political, trade, and investment relations to a new level as the landmark trade deal aims to remove import duties and taxes and improve market access for services providers, investors and firms.‚ÄúEuropean shipowners welcome the fact that the EU and Singapore show their commitment to free, fair and rules-based trade at a time that protectionism is on the rise‚ÄĚ, said European Community Shipowners‚Äô Associations (ECSA)‚Äôs Secretary General Martin Dorsman‚Ķ

Wallem, Zeaborn Choose Verifavia Shipping for EU MRV Monitoring

Pic: Wallem Ship Management

Wallem Ship Management in Hong Kong and Zeaborn Ship Management in Hamburg have chosen  Verifavia Shipping for European Union (EU) Reporting and Verification (MRV) and the International Maritime Organization (IMO) Data Collection System (DCS), as well as certification of associated IT systems.The emissions verification company for the transport sector said in a press release that trough their agreement with Zeaborn Ship Management, Verifavia Shipping will provide EUV verification‚Ķ

Clean Arctic Alliance Calls for Renewing Commitment to HFO Ban

Pic: HFO-Free Arctic

Clean Arctic Alliance called on member states to ‚Äúrenew their commitment‚ÄĚ so that a ban on the use and carriage of polluting heavy fuel oil (HFO) from Arctic shipping can be adopted in 2021 as  the International Maritime Organization (IMO‚Äôs Marine Environment Protection Committee (MEPC 73) gathered yesterday (October 22) in London.‚ÄúIMO member states must be resolute in ensuring that the Arctic ban on heavy fuel oil is developed by 2020, and adopted  in 2021, to protect Arctic ecosystems and communities from both the threat of oil spills and the impact of black carbon emissions‚Ä̂Ķ

MethaShip Project Projects Methanol as Future Fuel

Pic: The Methanol Institute

The Methanol Institute has welcomed the findings of the MethaShip research project which has concluded that renewable Methanol offers a long term solution for the industry’s ambitious carbon emission reduction strategy.The MethaShip partners found that Methanol can offer a dramatic improvement in emissions reduction across multiple ship types once the IMO has established the statutory framework conditions necessary for an industry-wide reduction of CO2 emissions.“The whole shipping sector is facing major challenges with ever stricter emission regulations for ships…

Marine Environment Protection Committee to Address Sulphur Limit Implementation

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO)'s Marine Environment Protection Committee (MEPC 73) has begun a busy session (22-26 October).On Monday, the MEPC moved ahead with its work to deliver the IMO initial strategy on the reduction of greenhouse gas emissions from ships, approving a programme of follow-up actions.A working group on GHG reduction will continue discussions, including the scope of the fourth IMO GHG study.The Committee will address the implementation of the 0.50% sulphur limit.

Petrobras Receives $149 Mln from SBM in Leniency Deal

(File photo: SBM Offshore)

Brazilian state-run oil company Petroleo Brasileiro SA has received an initial payment of 549 million reais ($148.92 million) from Dutch marine engineering group SBM Offshore as part of a 1.22 billion-real leniency deal, the Brazilian government said on Monday.As a result of a long-running corruption investigation, SBM was accused of paying bribes to secure contracts with Petrobras, as the state-controlled oil company is known.($1 = 3.6866 reais)(Reporting by Alexandra Alper; editing by Jonathan Oatis)

Marshall Islands Confirms No Class Certificate Surcharge

International Registries, Inc. and its affiliates (IRI) announced that the Republic of the Marshall Islands (RMI) Registry will not levy surcharges and commissions on vessel documents and certificates issued on its behalf by the classification societies."The RMI Registry will continue to provide its clients with a transparent pricing structure for the issuance of key certificates needed by shipowners," it said in a statement.Bill Gallagher, President of IRI, which provides administrative and technical support to the RMI Registry, said, "Over the past days, we have had discussions with several of the major classification societies concerning flag state surcharges on the issuance of class documents and statutory certificates.

Japan Spent $4 Bln to Back Global LNG Infrastructure Push

© stefanwelder / Adobe Stock

The Japanese government along with private companies have spent $4 billion in the past year on liquefied natural gas (LNG) projects, mainly in Asia and across the supply chain, to help spur demand for the fuel, the country's trade minister said on Monday.Hiroshige Seko, speaking at the annual LNG Producer-Consumer Conference in Nagoya, Japan, said Japan offered training to 200 people from 15 countries to develop a workforce to work in the LNG supply chain.Seko announced a year…

Croatian Shipbuilders Strike Again Over Late Salary

© burnel11 / Adobe Stock

Workers at Croatia's largest shipbuilding group Uljanik on Monday held their second strike in less than two months, this time over unpaid salary for September.In late August, the workers downed tools because of uncertainty over payments for July and August. Those two months' salaries were secured after the government reached a deal with a local bank.Uljanik owns two docks, with some 4,000 workers, located in the northern Adriatic cities of Pula and Rijeka. Some 1,500 started a…

Crowley Urges Against Pilotage Fee Hike in Port Everglades

(Photo: Crowley)

Port Everglades' largest tenant is urging the Florida Board of Pilot Commissioners to reject a proposed fee increase for harbor pilot services that it says would unfairly raise average pilotage costs more than 100 percent for shipping lines that call frequently at the port.While the proposed fee structure would decrease fees for cruise ships, it would hike the costs for companies that operate frequent-call feeder vessels that sail in and out of Port Everglades, Crowley Maritime Corporation said in a statement.

Solstad Seeks Creditor Talks Amid Sluggish Recovery

(Photo: Solstad Offshore)

Norwegian oil service vessels (OSV) firm Solstad Offshore is seeking negotiations with creditors and other stakeholders to boost liquidity ahead of the slow winter season, the company said on Monday, sending its shares down 20 percent."We were all too optimistic about when the recovery will happen," Chief Executive Lars Peder Solstad told Reuters. "2019 will probably be a bit better, but we will need to wait until 2020 or 2021 to see the rates rising to reasonable levels."The largest owners of Solstad are billionaire investors Kjell Inge Roekke and John Fredriksen…

UOS Completes Acquisition of UOS Support and Hartmann Offshore

Image: UOS

German offshore industry service provider United Offshore Support (UOS) announced that it has completed its acquisition of the commercial and technical-nautical management businesses of both UOS United Offshore Support and Hartmann Offshore.Since the acquisition was announced in July 2018, the management and staff of both companies have been working to bring the two organisations under the UOS brand, which is based in Leer, Germany.UOS is led by Chief Executive Howard Woodcock, who joined the company in August 2018.

US Aircraft Carrier in Arctic after Three Decades

USS Harry S. Truman (CVN 75). Image: United States Navy

A US aircraft carrier strike group has entered in the frigid waters north of the Arctic Circle for the first time since the Soviet Union collapsed to join a massive NATO naval drill close to Russian border.According to a press communication from the United States Navy,  for the first time in nearly 30 years, a U.S. aircraft carrier entered the Arctic Circle Oct. 19 to conduct operations in the Norwegian Sea.Accompanied by select ships from Carrier Strike Group Eight (CSG-8), the Nimitz-class aircraft carrier USS Harry S.

Saudi Aramco to Invest in China

In the presence of senior Vice President of Downstream Abdulaziz al Judaimi and Governor Yuan Jiajun ( R5), Vice President of International Operations Said Hadrami and Vice Givernor Zhu Congjiu signed the memorandum of understanding between Saudi Aramco and People’s Government of Zhejiang to acquire a share of Zhejiang Petrochemical’s new refinery project on the International Petroleum and Natural Gas Enterprises Conference (IPEC) 2018 in Zhoushan, east China’s Zhejiang province. Photo:  Saudi A

Saudi Aramco recently signed an MoU with Chinese Zhejiang provincial government during the 2nd International Petroleum and Natural Gas Enterprises Conference (IPEC), to acquire a share of Zhejiang Petrochemical’s new refinery project.Abdulaziz Al Judaimi, Sr. VP Downstream, said: "We are exploring opportunities for new refining and petrochemicals facilities, making further investments in China. Saudi Aramco has recently signed a crude oil supply agreement with Zhejiang Petrochemical (Rongsheng). This increase in customer base is due to our continuous focus and attention to the Chinese market.

Virginia-Class Submarine Delaware Christened

Ship's sponsor Jill Biden reacts after christening the submarine Delaware (SSN 791). Also pictured (left to right) are Cmdr. Brian Hogan, the submarine's commanding oficer; Sen. Thomas Carper, D-Del.; and Newport News Shipbuilding President Jennifer Boykin. Photo by John Whalen/Huntington Ingalls Industries

Huntington Ingalls Industries  christened the Virginia-class submarine Delaware (SSN 791) this morning at the company‚Äôs Newport News Shipbuilding division.Jill Biden, the former Second Lady of the United States and the ship‚Äôs sponsor, smashed a bottle of sparkling wine against the hull, celebrating the latest milestone of the newest U.S. Navy vessel prior to its launch.‚ÄúI know it is a tremendous privilege to be selected as a pre-commission crew member, and the sailors standing with us today are the very best the Navy has to offer,‚ÄĚ Biden said.

Container Logistics Blockchain Pilot Launched in Rotterdam

Pic: ABN Amro

The Port of Rotterdam Authority, Samsung SDS and ABN AMRO are preparing to launch a container logistics blockchain pilot.The pilot will seek to use blockchain technology to build a platform for efficient and paperless administration processes for the international finance and logistics surrounding container transport. The result should make it just as easy to transport, track and finance goods and services as it is to order a book online.Currently payments, administration and…

NGO Shipbreaking Platform Slams Gadani Yards

Shipbreaking Workers Union and NTUF jointly organized a protest rally in Gadani against the increase in accidents and the closure of the yards. Pic: NGO Shipbreaking Platform

A tanker caught fire at the Gadani shipbreaking beach that holds a deplorable record of life threatening accidents on 11 October.Fortunately, no casualties were recorded. Only a few days later, on 14 October, yet another oil tanker named KRITI (IMO 9270737) caught fire, this time injuring seven workers, three of which are in a critical condition.The Platform has reported a series of accidents following the catastrophic explosion that killed at least 29 workers and injured 58 on the 1st of November 2016. Since then, there have been at least five more fires caused by unsafe cutting operations.

St. Lawrence Seaway Workers Ratify Contract

A St. Lawrence Seaway bulk vessel (SLSMC)

The St. Lawrence Seaway Management Corporation (SLSMC) has announced that its unionized employees, members of UNIFOR, ratified a three-year labor agreement covering the period of April 1, 2018 to March 31, 2021.Terence Bowles, President and CEO of the SLSMC, praised the negotiating teams for achieving another multi-year agreement, and said, “A fair labor settlement was reached earlier this month, enabling the St. Lawrence Seaway to continue providing uninterrupted service to the thousands of entities that depend upon marine transportation…

Houston Pilots Withdraw Tariff Adjustment Application

© Oleksii Fadieiev / Adobe Stock

In an unexpected reversal, it has been reported that the Houston Pilots yesterday notified Chairman Janiece Longoria of the Port of Houston Authority that they had withdrawn their latest application for a change in pilotage rates. Beyond this, the pilots requested in their letter dated October 18 that the application be removed from the agenda for the upcoming October 30 Board of Commissioners meeting.Upon being notified of the rate change application in September, no less than 15 shipping companies…

French Riviera Launches Clean-up As Fuel Spill Reaches Beaches

(Photo: Marine Nationale)

Some of France's spectacular Riviera beaches have been shut as volunteers with shovels and sacks try to rid the coastline of a thick oily residue that washed ashore after two ships collided off Corsica earlier in October.The clean-up operation is taking place on beaches in the glitzy resort of Saint-Tropez and nearby Ramatuelle, where pristine waters and mountainous backdrops draw tycoons and A-list celebrities."Last year it was forest fires, now the pollution is coming from the sea," said Roland Bruno, mayor of Ramatuelle.

DZ Bank in Final Stage of Selling Parts of DVB

(Photo: DVB Bank)

Germany's No.2 lender DZ Bank is finalizing the sale of parts of its troubled transport financing division DVB Bank months after struggling to sell the whole business, two sources familiar with the matter said.DZ Bank has had to make large provisions for bad loans in shipping finance, which is among the reasons for the sale process.The sources, who declined to be identified due to the sensitivity of the matter, said DZ Bank, which is also the umbrella organisation of German co-operative bank chain Raiffeisen-Volksbanken…

Ship's Guards Repel Pirate Attack off Somalia Coast

© Erwin Willemse / MarineTraffic.com

Security guards aboard a Hong Kong-flagged cargo ship repelled an attack by pirates in a gunbattle off Somalia's coast this week, the European naval force in the region said on Friday.It was only the second reported attempt by Somali pirates to seize a commercial ship this year, after a resurgence of attacks in 2017 following years of relative calm brought about by regular patrols of the European Union Naval Force (EUNAVOR).On Tuesday, pirates approached and opened fire at the Hong Kong-flagged MV KSL Sydney freighter 340 nautical miles off Somalia…

Turkish Ship to Continue Explorations in Mediterranean

© Dmytro Vlasov / MarineTraffic.com

A Turkish energy exploration ship will continue to operate in the Mediterranean Sea, the energy minister said on Friday, after Ankara said the navy stopped a Greek frigate from harassing the ship due to territorial disputes.Turkey, Greece and Cyprus's internationally recognized Greek Cypriot government have long disputed their overlapping claims of jurisdiction for offshore oil and gas research in the Mediterranean."Turkish Petroleum's exploration ship will continue its activities in line with Turkey's rights," Energy Minister Fatih Donmez told reporters in the western coastal province of Izmi

Capesize Rates Hit Near Six-week High

(File photo: Star Bulk)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates for the capesize vessel segment hit their highest in about six weeks.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 11 points, or 0.7 percent, to 1,576 points.The capesize index gained 54 points, or 2.5 percent, to 2,230 points, its highest since Sept.

CMA CGM Dock Smash Inquiry Slams Pilot

Image: UK Govt

The United Kingdom Merchant Shipping (Accident Reporting and Investigation) Marine Accident Investigation Branch issued an investigation report on the allision of the UK-registered containership CMA CGM Centaurus with the quay in Jebel Ali, United Arab Emirates,that resulted in collapse of a shore crane and subsequent injury of 10 persons.At 1137 on 4 May 2017, Centaurus made heavy contact with the quay and two shore cranes while under pilotage.The accident occurred because the ship was unable to attain a sufficiently high rate of turn into a basin in preparation for berthing.

Maritime Emissions: Ship and Port Toolkits Ready

Pic: International Maritime Organization (IMO)

A new set of toolkits to assess and address emissions from ships and ports is now available from the International Maritime Organization (IMO), the global regulatory body for shipping.The Ship Emissions Toolkit and Port Emissions Toolkit have been developed under the GEF-UNDP-IMO Global Maritime Energy Efficiency Partnerships (GloMEEP) Project, in collaboration with its strategic partners, the Institute of Marine Engineering, Science and Technology (IMarEST) and the International Association of Ports and Harbors (IAPH)."To reduce emissions across the maritime sector…

CMA CGM Enters Sustainability Partnership with Panalpina

Image: Panalpina

French ocean carrier CMA CGM and Panalpina, the world’s fourth biggest ocean freight forwarder by transport volumes, have signed a sustainability agreement aimed at reducing their respective carbon emissions by 2025.As of 2020, newbuild LNG-powered mega-vessels with a capacity of 22,000 twenty-foot containers (TEUs) will help achieve the environmental goals.Aiming at responsible development in ocean freight, Panalpina and CMA CGM have signed a sustainability agreement for maritime…

UGS Hails IMO Decision on Sulphur Cap

Image: Union of Greek Shipowners (UGS)

The Union of Greek Shipowners (UGS) remains firmly committed to the successful transition to the 0.5 percent global sulphur cap in marine fuels and the related dates that have been agreed at the United Nations International Maritime Organization (UN IMO).At the same time, it fully supports the effective implementation and enforcement of the new regulation through the establishment of a UN IMO institutionalized data collection, analysis and review stage, as the minimum safeguard…

Port of Amsterdam to Build Europe’s Biggest Hydrogen Cluster

Image: Port of Amsterdam

Nouryon (formerly AkzoNobel Specialty Chemicals), Tata Steel and the Port of Amsterdam have joined together to study the feasibility of a large green hydrogen cluster in the Amsterdam region.According to a press release, the three parties consider green hydrogen as vital for reaching climate targets and building a more circular economy, for example by combining it with emissions from steel manufacture to make new products.As a first step, the parties will study the feasibility of a 100 megawatt water electrolysis facility to produce up to 15…

Advance Information of Berths in Ports Can Cut Cost and Emission

Image Source: Port of Rotterdam/TNO

If seagoing vessels were better informed about the availability of berths and adapted their speed accordingly, substantial savings could be made in terms of fuel and CO2 emissions. This conclusion is based on a study that was recently commissioned by the Port of Rotterdam Authority and research institute TNO.The study pointed out that if sea-going vessels are regularly kept informed ‚Äď particularly during the last twelve hours before arrival ‚Äď about exactly when their berth will become available‚Ķ

SDX Terminates Talks Over BP's Egyptian Assets

Image: BP in Egypt

North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP.A press release from SDX announced that further to the announcement made on September 20, 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.As the acquisition is no longer proceeding, the suspension of the company’s shares from trading on AIM will be lifted from 7:30 a.m. on October 18, 2018.

EU Ports Set Top 10 Environmental Priorities

Pic: ESPO

The European Sea Ports Organisation (ESPO) has released its annual Environmental Report which includes member ports' top 10 environmental priorities for 2018.Air quality has remained the top priority of the European ports since 2013. The increased interest in the relationship with local community in position four of the list is relevant as air quality has been increasingly a concern for citizens of port cities and urban areas.Climate change is becoming of high relevance for European ports. It made it in the Top 10 for the first time in 2017 and climbed to the position seven in 2018.

IMO Focus on Maritime Security

Pic:  International Maritime Organization (IMO)

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…

Keppel Q3 Profit Falls

Singaporean conglomerate Keppel Corp on Thursday posted a 15 percent fall in third-quarter net profit, hurt by lower contributions from its investments and property divisions.Keppel, whose businesses range from rig-building to property development, posted a net profit of S$226 million ($164 million) for the quarter ended September, versus S$265 million a year earlier.Total revenue for the quarter stood at S$1.3 billion, a 20 percent fall from a year earlier.Higher revenue recognition from ongoing offshore and marine projects and increased power and gas sales were offset by lower contributions from property trading, asset management, as well as the absence of the sale of investments…

The Standard Club Withdraws from Underwriting at Lloyd's

The world’s fourth largest P&I club announced Thursday that it is withdrawing from underwriting at Lloyd’s from 2019.The Standard Club had established a syndicate in 2015 to underwrite marine and energy risks. It represented one strand of the club’s broadly-based strategy to provide its members with a wider range of insurance covers to meet their needs and diversify the club’s source of revenues.The club said it in press release that remains committed to these strategic aims but it has concluded that current overcapacity and a weak pricing environment have made Lloyd’s a challenging environment for it to develop a profitable underwriting business with sufficient scale.The club is exploring alternative approaches to provide its members with additional insurance covers…

Croatia May Pay $651.6 Mln to Uljanik Shipyard

(File photo: Uljanik)

Croatia may have to pay 4.2 billion kuna ($651.57 million) for the costs of state guarantees extended to an ailing Adriatic shipyard that has been struggling to survive in recent months, Finance Minister Zdravko Maric said on Thursday.The figure is close to 1.2 percent of Croatia's gross domestic product."This year we will have to pay 2.5 billion kuna on the basis of state guarantees for Uljanik," Maric told an economic conference in the northern Adriatic town of Rovinj.Several…

Turkish Navy Stops Greek Frigate 'Harassment' in Mediterranean

© Gerry McGonigle / MarineTraffic.com

Turkey's state-run Anadolu news agency said on Thursday that the navy had stopped a Greek frigate from harassing a Turkish ship in the Mediterranean. It did not give further details.Turkey, Greece and Cyprus's internationally recognized Greek Cypriot government have long disputed their overlapping claims of jurisdiction for offshore oil and gas research in the Mediterranean.The ship Barbaros Hayreddin Pasa was carrying out seismic research activity, the foreign ministry said earlier.It…

Record Low Rhine Levels Hampers Barge Trade

© Markus Mohr / Adobe Stock

Water levels on the Rhine River fell to a record low on Thursday and were forecast to fall even further, hampering oil product barge trading in northwest Europe.Water levels at the Kaub point of the river fell to 31 cm, according to Refinitiv Eikon data, the lowest level in data available since September 1995.Shallow water on the Rhine in Germany means freight vessels cannot sail fully loaded.The river is an important shipping route for commodities including grains, minerals, coal and oil products including heating oil.

Carlyle Group Acquires EnerMech from Lime Rock Partners

 Image: EnerMech

Global alternative asset manager The Carlyle Group announces that it has agreed to acquire EnerMech Group Ltd, an international services company providing critical asset support to the energy, infrastructure and industrials sectors, from Lime Rock Partners.The transaction is expected to close in Q4 2018, subject to customary anti-trust and regulatory approvals.Equity for this investment will come from Carlyle International Energy Partners (CIEP), a $2.5 billion fund that invests in the global oil and gas sector outside North America.

MEG Energy Rejects Husky's Bid

Image: MEG

MEG Energy announced its Board of Directors has unanimously determined that Husky Energy's unsolicited bid to acquire MEG significantly undervalues the common shares of MEG and is NOT in the best interests of MEG or the holders of Common Shares.On October 2, 2018, Husky made a formal offer to acquire all of the issued and outstanding Common Shares, at the election of the MEG Shareholder, for (i) $11.00 in cash or (ii) 0.485 of a common share of Husky for each Common Share, subject…

Steelhead LNG Files Kwispaa Project Description

Image:  Steelhead LNG

Kwispaa LNG has entered the next phase of project development with the submission of the Project Description to the British Columbia Environmental Assessment Office and Canadian Environmental Assessment Agency.The Project Description provides a comprehensive overview of Kwispaa LNG and represents the culmination of several years of engagement and planning, the results of which have been integrated into ongoing environmental studies and engineering work.Unique among Canadian LNG projects…

NYK Develops Onboard Sulfur-in-oil Analyzer

Image: NYK Group

NYK and Nippon Yuka Kogyo Co., Ltd., an NYK Group company, have teamed with Horiba Ltd. to develop a new sulfur-in-oil analyzer for ships. The new device is based on an existing device used at onshore analysis centers.Using this new analyzer, NYK will be able to thoroughly comply with regulations limiting sulfur oxides (SOx) from vessels, as well as optimize the company’s use of low-sulfur fuel oil.Certain areas around Europe and North America have been designated as emission control areas (ECAs) to prevent air pollution…

Verifavia Certifies We4Sea for EU-MRV Emission Monitoring

Dan Veen. Pic: We4Sea

Maritime technology company We4Sea is now officially certified by Verifavia for both IMO-DCS as EU-MRV emission monitoring, stated a press release.We4Sea developed a world‚Äôs first non-Capex fuel monitoring solution, to optimize the performance ánd reduce fuel consumption and emissions of seagoing ships. We4Sea collects vast amounts of operational data of a ship, such as position, draft, speed and heading. This data is sent to shore, where it is enriched with other data sources‚Ķ

Thordon Bearings Strengthens European Presence

Photo: Thordon

Thordon Bearings, the provider of bearing solutions for marine, has signed sales and distribution agreements with St. Petersburg-based Industrial & Marine Projects (IMPRO) and Tallinn’s Marine Ecology Equipment (MEE), in a development that anticipates the introduction of more stringent pollution rules for European waterways.The appointment of new distributors for Lithuania, Latvia, Estonia, Russia and Azerbaijan coincides with concern that more should be done to reduce the impact…

TOTE Touts 'LNG-as-Fuel' Experience

Peter Keller, Executive Vice President, TOTE. (Photo: Greg Trauthwein)

Build it and they will come mentality serves TOTE well on ‚Äėworld first‚Äô LNG ContainershipsAs the marine industry collectively struggles to find solutions to the mounting mandates to cut emissions, U.S. owner TOTE, which broke ground three years ago with the world‚Äôs first LNG-fueled containership, has more than 36 months experience operating almost exclusively on LNG. To date it has been a rousing success.As environmental mandates for ships continue to get stricter, particularly‚Ķ

Tidewater, Gulfmark Announce Filing of Definitive Proxy Statement

John Rynd / President , CEO and Director, Tidewater Inc.

Parties say transaction could close on or about November 15, 2018.Offshore services providers Tidewater and GulfMark Offshore announced today the filing of the joint definitive proxy statement and prospectus with the U.S. Securities and Exchange Commission (SEC) regarding the pending business combination pursuant to which Tidewater has agreed to acquire all of GulfMark's outstanding shares in a stock for stock exchange. Both companies’ Boards of Directors continue to unanimously…

MAN Energy Solutions Offers Decarbonization Incentives

Panel participants included Wayne Jones (third from right), along with Panos Zachariades, technical manager, Atlantic Bulk Carriers Management; Dimitris Matthaiou, CEO, Arcadia Shipmanagement/Aegean Bulk; Georgios Polychroniou, coordinating director of strategic and corporate activities development, Public Gas Corporation (DEPA) SA - Poseidon Med II project manager; and Stamatis Tsantanis, chairman and CEO, Seanergy Maritime Holdings (Photo: MAN Energy Solutions)

‚ÄúMAN Energy Solutions believes fully in its technology, to the extent that we pledge to subsidize the first 10 shipowners that convert their engines to LNG [liquefied natural gas] or a gas-derived fuel ‚Äď up to a cumulative total of 2 million Euros ‚Äď because I think someone has to stimulate the industry to think more holistically and long-term,‚ÄĚ said the engine maker's chief sales officer and executive board member Wayne Jones OBE, at a recent conference in Athens.Jones was speaking at the 4th annual Naftemporiki Shipping Conference‚Ķ

V. Group Acquires Norddeutsche Reederei

Image: V.Group

German shipowner Norddeutsche Vermögen Group and V.Group have signed an agreement for Norddeutsche Reederei H. Schuldt to join V.Group.At the same time, the combined company will form a partnership for commercial management with Blue Net Chartering.The transaction represents a major step in delivering consolidation of commercial and technical management in the container segment in Germany, underpinning V.Group‚Äôs ambition to drive the transformation of the industry and to be the‚Ķ

APM Terminals to Divest Izmir

Izmir. Pic: APM Terminals

APM Terminals have reached agreement to divest its container terminal in Izmir, Turkey to its current partner SOCAR.As part of the sales agreement, APM Terminals will continue managing the terminal, ensuring that needs from both shipping lines and landside customers are catered for, said a press release from the company.The sale is subject to regulatory approvals and is expected to finalize in the coming months. In the new structure, operating company Petlim will be fully owned by SOCAR Turkey…

Drewry Rolls-out ‚ÄėCost Impact Calculator‚Äô for Shippers

Pic: Drewry Shipping Consultants Limited

Responding to the concerns and needs of Beneficial Cargo Owners (BCOs) ahead of the IMO 2020 global emission regulation, global shipping consultancy Drewry announces the addition of a new BAF formula and fuel cost benchmarking service to complement its existing range of ocean freight procurement support services.In cooperation with both shipper members of the Drewry Benchmarking Club and other parties, Drewry has developed an IMO low-sulphur rule, ‚ÄúCost Impact Calculator‚ÄĚ based on robust market data‚Ķ

UK: Clean Maritime Revolution Begins Voyage

Pic: International Maritime Organization (IMO)

First meeting of the clean maritime council who will make the plan for a zero emissions UK maritime sector was held yesterday  (15 October 2018).Minister for Maritime Nusrat Ghani opened the first meeting of the Clean Maritime Council, which will devise a strategy to reduce greenhouse gas emissions from the sector to improve air quality on and around our waterways, ports and shipping lanes.The government is clear on the need for action on emissions from shipping. Air pollution is the fourth greatest threat to public health after cancer, heart disease and obesity.

Just-in-Time Ship Operations Can Cut Emissions

Pic: International Maritime Organization (IMO)

Reducing the amount of time ships spend waiting outside port and at anchor could significantly reduce ship emissions, according to studies carried out by members of the International Maritime Organization (IMO) GloMEEP Global Industry Alliance (GIA).Ships can spend hours or days waiting at anchor outside ports, but providing ships with regular updates about the availability of berths, especially in the last twelve hours prior to port arrival, can support significant reductions…

Making the Case for LPG as a Marine Fuel

 Research engine at Research Center Copenhagen equipped for LPG use. Images: ©MAN ES

The sulfur emission control areas (SECAs) in place in North-America and Northern Europe, in combination with the upcoming global 0.5% limit on sulfur in 2020 (or 2025) and similar EU limits in 2020, call for alternative fuels as a means for compliance. Several alternative fuels are available and, at the same time, new fuel oil products with very low sulfur content have been introduced.In this respect, the ability of the new MAN ME-LGIP engine to run on LPG, which is a sulfur-free fuel…

2018 Maritime Risk Symposium ‚Äď Energy and Maritime Risk

Energy.It seems that energy touches every aspect of our lives from heating our homes to ensuring that fresh produce is available at grocery stores. It powers our cars and allows industry to move products around the world. The connection between energy and risk to the maritime environment has been a growing area of discussion, research and analysis. The United Kingdom’s Royal Navy, within its Joint Doctrine Publication (JDOP 0-10) 5th edition UK Maritime Power, captured this issue superbly: “Fossil fuels and minerals are an important resource in the maritime environment. New deposits of oil and gas, as well as mineral wealth, are discovered under the seabed each year, and improvements in technology will facilitate future exploitation.

Ship Owners Are Scrambling to Install Scrubbers

© Sergey Evsyukov / Adobe Stock

Ship owners accelerated installations of engine emissions cleaning systems this year ahead of stringent new rules in 2020 which sharply reduce the amount of sulphur ships can emit from the 3.5 percent in current bunker fuel to 0.5 percent, according to a report.Vessel operators can either switch to cleaner, but more expensive, marine gasoil or install scrubbers to filter sulphur from dirtier fuel oil.The looming change in International Maritime Organization (IMO) rules has impacted…

Stena Bulk Confirms Scrubber Order with Bluesoul

Photo: Stena Bulk

Stena Bulk has signed a turnkey exhaust gas scrubber solution agreement with Chinese Bluesoul to equip its Suezmax and IMOIIMAX fleets. In total, Stena Bulk will equip 15 vessels with scrubbers and have an additional six options for installation prior to 2020.The scrubber to be installed is an Open Loop Hybrid Ready with Water Cleaning, which not only removes the sulfur but also particles from the exhaust.Shanghai Bluesoul Environment Technology, with its base in Shanghai, has had a collaboration agreement with the Stena Group for more than a year.

Sonardyne Acquires Chelsea Technologies Group

(L-R) Chelsea’s Brian Phillips and John Ramsden, Sonardyne.  (Photo: Sonardyne)

Subsea technology developer Sonardyne International Ltd. said it has acquired maritime and marine science technology specialist Chelsea Technologies Group Ltd. as part of a long-term growth strategy that includes market diversification.In acquiring Chelsea (also known as CTG), Sonardyne said it looks to strengthen its presence in the maritime, marine and ocean science sectors and create new opportunities in the water environmental, defense and process control markets. Chelsea will gain access to Sonardyne’s considerable research…

EuroDry Gets Refinance, Expands Fleet

Pic: EuroDry

EuroDry announced that it has completed the refinancing of the debt of M/V Alexandros P, a 62,000 dwt ultramax drybulk vessel built in 2017.The owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes said in a press release that the new loan facility of $15 million was used to repay the previous loan facility with an outstanding balance of $9.9 million and provide additional liquidity to the Company.The new loan will have a maturity of…

Ecochlor Harmonizes USCG and IMO Type Approvals

Pic:  Ecochlor

The provider of ballast water treatment solutions for ship builders Ecochlor announcef the complete harmonization of United States Coast Guard (USCG) Type Approval to their International Maritime Organization (IMO) Type Approval for their line of Ecochlor Ballast Water Treatment Systems.During Ecochlor’s USCG Type Approval amendment process, minor updates and improvements were made to aspects such as documentation, available filter models, and control system software, said a press release from the company.Once the USCG Type Approval amendment was complete…

NYK Upholds Japan Climate Initiative

Pic: NYK Line

Global shipping company Nippon Yusen Kabushiki Kaisha (NYK)  has approved the declaration announced at the Japan Climate Action Summit sponsored by the Japan Climate Initiative, a network having the ultimate goal to decarbonized.Japan Climate Initiative is a network established in July 2018 to reinforce discussions between companies, local governments, organizations, and NGOs actively engaged in climate action in Japan with the ultimate goal to decarbonized and foster a climate‚Ķ

ABS China Looks Ahead to 2030

Photo: ABS

The annual ABS Joint China and Hong Kong Committee gathered Industry leaders to discuss global challenges facing the maritime sector. The group heard strategies to meet the IMO 2020 Sulfur Cap, as well as a look ahead to 2030, when vessel data will play a significant role in compliance management.“ABS has become the classification organization of choice for the Chinese shipbuilding and shipping industry, with a long track-record of working closely together on innovative projects in both marine and offshore.

IMO Calls for Tackling Greenhouse Gas Emissions

Pic: International Maritime Organization (IMO)

An intersessional working group to develop a programme of follow-up actions to International Maritime Organization (IMO)'s Initial strategy on reducing greenhouse gas emissions from ships opened at IMO Headquarters (15 October).The initial strategy, adopted in April this year, sets out a vision to continue to reduce GHG emissions from international shipping and phase them out, as soon as possible - in this century.The strategy provides clear direction to the shipping sector and…

Scorpio Bulkers Inks LOI for Scrubber Installs

© Patrick Hamilton / MarineTraffic.com

Dry bulk shipping company Scorpio Bulkers Inc. announced that it has signed letters of intent with suppliers, engineering firms and ship repair facilities to cover the purchase and installation of exhaust gas cleaning systems, also known as scrubbers, on substantially all of its owned and finance leased Kamsarmax and Ultramax vessels.Scorpio said the scrubbers and their installation will cost between $1.5 - $2.2 million per vessel, and the company anticipates that between 60-70…

Goltens Leads the Charge to Ballast Water Treatment

(Image: Goltens)

Tightening ballast water treatment regulations are driving shipowners down many paths to compliance. One thing they all have in common, though, is the need for efficient and reliable retrofitting of their ballast water treatment systems (BWT).Goltens is a market leader in BWT retrofits, with a wide range of shipowners who have chosen Goltens to keep them BWT compliant while minimizing asset downtime and cost. The reasons for their BWT choices vary, from beating the rush to compliance, to ensuring the necessary flexibility for vessels calling at ports around the world.

Port Panama City Update

A five day look at michael's track before heading back out to sea. CREDIT: NHC

In the wake of hurricane Michael, Port Panama City Director Wayne Stubbs issued the following prepared statement:“The Panama City Port Authority has not yet been in contact with all of its employees, but most have been contacted and are safe. Most employees have sustained some damage to their homes, and some have lost their homes.Power was restored to the port on Saturday and internet service should be up by Tuesday.The port sustained damage to many of the buildings, but no damage to its docks, cranes, and equipment.

Firmer Capesize Rates Prop Up Baltic Index

© yaniv / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, helped by strong demand for capesize vessels.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3 percent, to 1,584 points.The capesize index rose 20 points, or 0.9 percent, to 2,189 points.Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $148 at $18,894.The panamax index gained 4 points to 1,779 points, its highest since Jan.

USCG Posts Recap of Ballast Water Management & Technology Conference

Coast Guard staff present on various topics related to the ballast water program during September’s BWMTechNA in Florida. IMAGE CREDIT: USCG

Extensions, type approvals and next steps were all prominent on the agenda.September’s Ballast Water Management and Technology North America conference saw USCG staff from the Office of Operating and Environmental Standards and the Marine Safety Center giving conference attendees an update on various aspects of the Coast Guard’s ballast water program. Following is a recap of those presentations for our readers who were unable to attend:Ms. Regina Bergner and Mr. Matthew Reudelhuber with the Office of Operating and Environmental Standards, and Lt.

Alliance Marine Group Acquires 3SI

Pic: 3Si Group

France-based Alliance Marine Group has acquired Safety and Survival Systems International (3Si Group).Europe’s leading supplier and manufacturer of marine equipment for the leisure and commercial sectors acquisition includes 3Si Group's well-known brands such as Ocean Safety, Typhoon International, ISP and Revere.The consolidation with AMG will help accelerate its international growth strategy and increase its geographical footprint and product portfolio to achieve greater exposure…

Pérez y Cía Acquires Harren & Partner's Caribbean Feeder Services

Pic: Harren Shipping Services GmbH & Co

Spanish shipping and logistics company Pérez y Cía has agreed to acquire CFS Caribbean Feeder Services from the German shipping company Harren & Partner.A press release from CFS quoted Peter Harren, Founder and Managing Director of Harren & Partner as saying: "‚ÄúI am very proud and pleased that we have reached this agreement. Pérez y Cía is a highly respected company known for its quality, expertise and experienced employees. It is the reliable long-term partner we were looking for. We believe that this acquisition will give CFS a very strong position for the future.

EU Extends Danish Tonnage Tax Scheme

Pic: Danish Maritime Authority

The European Commission has approved under EU State aid rules the extension of the existing Danish tonnage tax scheme to additional types of vessels.This will encourage ship registration in Europe and contribute to the global competitiveness of the sector without unduly distorting competition.At the same time, Denmark will amend its existing scheme to ensure that it applies only to genuine maritime shipping activities by limiting revenues from non-core activities to an acceptable level.Commissioner Margrethe Vestager in charge of competition policy…

OOCL Begins Transition to Meet IMO 2020 Regulation

Pic: Orient Overseas Container Line

Hong Kong-based container shipping and logistics service company Orient Overseas Container Line (OOCL) fleet moves forward to meet IMO 2020 regulation.Over the years, the industry has seen an increasing amount of attention given to the environmental impact from the global supply chain, resulting in regulations on emissions control and environmental protection becoming more stringent and widespread across the world.May it be in the form of introducing or expanding Emissions Control Areas (ECA) on the regional level…

Standard Club and Strike Club to Merge

Pic: The Standard Club

The London-based marine insurers the Strike Club and the Standard Club have announced plans for the Strike Club to join the Standard Club group.According to a press statement Strike Club will continue as a member-controlled dedicated mutual delay insurer, operating as class of Standard Club and supervised by existing board.Both mutual insurers are managed by companies within the Charles Taylor group.The Standard Club will create a new Strike class in each of the Standard companies, into which The Strike Club business would transfer.

PVA Supports Proposed Changes to Chicago Harbor Safety Zone

File Image: The Chicago Waterfront (CREDIT PVA & Wendella)

This week, PVA submitted comments in support of the Coast Guard's proposal to reduce the size of the current Navy Pier Southeast Safety Zone within the Chicago Harbor.PVA's Chicago members requested the association's support of this proposal, which would reduce the size of the Safety Zone and provide relief to local operators. Coast Guard proposed this change to allow the Chicago Harbor Lock to remain in full operation during regularly scheduled periodic fireworks displays. As…

ClassNK Updates Emissions Reporting Portal

Classification society ClassNK has released ClassNK MRV Portal (IMO DCS), a software service for the reporting, monitoring and verification of shipping CO2 emissions in line with the IMO DCS regulations that will come into effect in 2019.The implementation of fuel consumption data reporting regulations has been ongoing in an effort to reduce GHG emissions and the EU-MRV (European Union - Monitoring, Reporting, Verification) regulations for ships operating in the EU area began in 2018. The upcoming IMO DCS regulations require all globally operating ships over 5,000GT to collect fuel consumption data and create an annual fuel consumption…

Piracy Rises 3% in Asia

© neiezhmakov / Adobe Stock

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.

EU Okays Expansion of Denmark's Shipping Tax

© Pavel Losevsky / Adobe Stock

The European Commission approved on Friday the expansion of a Danish scheme to tax shipping companies on their tonnage, the EU executive said in a statement.Under the so-called tonnage tax schemes, shipping companies pay taxes on the basis of the size of the shipping fleet rather than on their actual taxable profits.The Commission authorized Denmark to expand its existing scheme for shipping firms to several new categories including guard vessels and ships servicing off-shore installations, it said in a statement.(Reporting by Francesco Guarascio)

Gasum Acquires Skangas

Pic: Gasum Oy

Energy company Gasum has increased its shareholding in Norwegian liquefied natural gas (LNG) provider Skangas to 100%. The acquisition strengthens a key element of Gasum's strategy and will further enhance the development of the Nordic gas market and LNG distribution network.According to a press release from  the Nordic energy company the increase in shareholding consolidates Gasum's position as the leading Nordic LNG provider and the gas market forerunner.Nordic energy company‚Ķ

Arctic Sea Ice is Youngest and Thinnest Now

Small remnants of thicker, multiyear ice float with thinner, seasonal ice in the Beaufort Sea on Sept. 30, 2016. Credit: NASA/GSFC/Alek Petty

The Arctic Ocean's blanket of sea ice has changed since 1958 from predominantly older, thicker ice to mostly younger, thinner ice, according to new research published by NASA scientist Ron Kwok of the Jet Propulsion Laboratory, Pasadena, California.With so little thick, old ice left, the rate of decrease in ice thickness has slowed. New ice grows faster but is more vulnerable to weather and wind, so ice thickness is now more variable, rather than dominated by the effect of global warming…

Marshall Islands Confirms No Class Certificate Surcharge

International Registries offices across the world. Map: International Registries, Inc.

International Registries, Inc. and its affiliates (IRI) has announced that the Republic of the Marshall Islands (RMI) Registry will not follow competitors by levying surcharges and commissions on vessel documents and certificates issued on its behalf by the Classification Societies.The RMI Registry will continue to provide its clients with a transparent pricing structure for the issuance of key certificates needed by shipowners.Bill Gallagher, President of IRI, which provides administrative and technical support to the RMI Registry…

EU Guarantees Port Reception Facilities

File Photo: European Community Shipowners' Associations

The Transport Committee of the European Parliament adopted earlier this week the final report on the Port Reception Facilities and gave a mandate to the Rapporteur Ms Gesine Meissner to start negotiations with the Council and the EU Commission to finalise the text of the new directive.The European Community of Shipowners’ Associations (ECSA) supports the polluter pays principle in return for the safe and environmentally sound management of the ship generated waste. Ships will be allowed to deliver all garbage when paying a fixed waste fee…

AXA XL Launches North America Workboat Insurance

© Cliff / Adobe Stock

AXA XL's North America marine insurance business is expanding its reach in the marine insurance market with a new policy specifically designed and delivered to address workboat risks.‚ÄúOur new workboat policy represents the continued extension of our risk appetite and underwriting expertise to address a wider array of marine risks,‚ÄĚ said Anne Marie Elder, AXA XL Chief Underwriting Officer for Marine in the North America. ‚ÄúWorkboats represent many different types and sizes of vessels that are used for a wide range of tasks‚Ķ

Boskalis Nominates van Noort as New CFO

Royal Boskalis Westminster N.V. has nominated Carlo van Noort to be appointed as Chief Financial Officer (CFO) of Boskalis at the Annual General Meeting of Shareholders (AGM) in May 2019. The term of the current CFO, Hans Kamps, expires on the date of that same AGM.van Noort is currently financial director of Boskalis Nederland. He has held various finance positions within the three divisions of the Group over the last 12 years and is currently financial director of Boskalis Nederland. Following his accounting and auditing degree from Nyenrode Business University, van Noort worked as an auditor with EY followed by finance positions at among others ING Real Estate and DHL Express.

Fredriksen's Flex Raises $300 Mln for LNG Newbuilds

© Anatoliy Matronyuk / MarineTraffic.com

Flex LNG, controlled by Norwegian-born billionaire John Fredriksen, has raised $300 million in a private placement of shares to help pay for five new vessels costing $918 million, it said on Thursday.Fredriksen's companies typically add high-yield bond issues and bank loans at a later time to pay the cost not covered by share sales.When the vessels are delivered from the yards of South Korea's Daewoo (DSME) and Hyundai (HHI) in 2020 and 2021, Flex LNG will have a fleet of 13 ships, Flex said.Fredriksen himself bought shares for $100 million, cutting his overall stake in the firm to 44.6 percen

CMA CGM Says No Plans to Take Over Ceva Logistics

(Photo: Ceva Logistics)

French shipping company CMA CGM has no plans to launch a full takeover for Ceva Logistics after the Swiss transport company on Thursday said it had rejected a $1.5 billion takeover offer from a third party.CMA CGM, Ceva's biggest shareholder with a 25 percent stake, has now been allowed to increase its holding to one third -- the trigger point where it would have to launch a full takeover under Swiss regulations."The end of the standstill agreement means CMA CGM now has the right to increase its shareholding in Ceva…

US Oil Exports to Asia May Slide Further

© Anatoly Menzhiliy / Adobe Stock

Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.

EPA: VGP Will Not be Reissued This Year

The EPA has provided updated advice on the reissuance of the U.S. Environmental Protection Agency's National Pollutant Discharge Elimination System (NPDES) Vessel General Permit (VGP).The 2013 VGP will not be reissued prior to its December 18, 2018 expiration date, but will be administratively continued and remain in effect until a new permit is issued. Owners/operators of vessels operating under the administratively continued permit are expected to comply with the terms and conditions of that permit.

Scorpio Bulkers Invests $100 mln in Scorpio Tankers

Pic: Scorpio Tankers

Scorpio Bulkers has agreed to invest $100.0 million in a related party, Scorpio Tankers. The investment is part of a larger $300.0 million equity raise through a public offering of common shares by Scorpio Tankers announced yesterday (October 10). As a result of this investment, the Company will own approximately 54.1 million, or 10.9%, of Scorpio Tanker’s issued and outstanding common shares. The investment was unanimously approved by an independent committee of the Board of Directors that was advised by Perella Weinberg Partners.

AWIA/WRDA Overwhelmingly Passes in Senate

File Image: AdobeStock / © SunnyS

Bill now heads to White House for President Trump‚Äôs signature.Today, the Senate voted 99-1 in favor of America‚Äôs Water Infrastructure Act of 2018/Water Resources Development Act, otherwise known as WRDA 2018. The Bill passed in the U.S. House by unanimous voice vote (435-0) in August.‚ÄúThe passage of WRDA 2018 is a win for the Nation‚Äôs towboat operators, freight shippers, ports and labor and conservation groups that rely on an efficient inland waterways system,‚ÄĚ said Mike Toohey, President and CEO of the Waterways Council, Inc. (WCI).

Three Balearia Ferries to Convert to LNG

Bahama Mama. Photo: Baleària

Spain's Baleària will convert three ferries from diesel to LNG dual fuel using Caterpillar and MaK solutions.Incorporating the MaK DF engines will virtually eliminate the sulfur and particulate matter in the exhaust gases, while also cutting down NOx, resulting in even lower CO2 emissions. The three ferries to be converted are Abel Matutes, Bahama Mama, and Martin i Soler, each currently equipped with a pair of MaK 9 M 43 C main engines. After the conversion, the vessels will operate on two MaK 9 M 46 DF engines, which has a rated engine output of 8,685kW.

OT&BE joins Hyperion Marine Engineering Group

Ocean Tug & Barge Engineering Corporation President Robert Hill

Ocean Tug & Barge Engineering Corporation, a naval architecture and marine engineering firm specializing in AT/B or Articulated Tug/Barge design announced that it is now a member of the Hyperion Marine Engineering Group headquartered in Portland, Maine with offices in India, Dubai, Norway and the Netherlands.CT Marine & Buoyancy Consultants formed Hyperion three years ago recognizing a need for an integrated naval architectural & marine engineering firm to serve the inland and…

Garden Reach Shipbuilders Stumbles on Market Debut

Shares of India's Garden Reach Shipbuilders and Engineers Ltd fell on their market debut on Wednesday after the company raised 3.4 billion rupees ($45.81 million) at its initial public offering earlier this month.The company's stock dropped as much as 12.9 percent to 102.80 rupees in early trade, but later rose to 107 rupees, or down 9.32 percent, at 0432 GMT versus its issue price of 118 rupees.The broader Nifty index was up 1 percent.The IPO of the state-owned shipbuilders was covered 1.02 times at its close.($1 = 74.2175 Indian rupees)(Reporting by Swati Bhat; Editing by Rashmi Aich)

Maersk Leases Singapore Oil Storage Ahead of IMO 2020

(File photo: Maersk Line)

Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.

NKBMS Applies for US BWMS Type Approval

© sunsinger / Adobe Stock

The U.S. Coast Guard Marine Safety Center (MSC) received its 18th application for ballast water management system type approval for the NK-O3 BlueBallast II Plus ballast water management system manufactured by South Korea's NKBMS Co. Ltd.MSC will review the application for compliance with U.S. Coast Guard regulations in 46 CFR 162.060. Once it has been determined that the application meets the requirements, the MSC will issue a type approval certificate.BWMS type approval applications and approval certificates are posted on MSC’s website.

Liquefaction and Lost Bulk Carriers: Is a Design Change Warranted?

Image: © Amarinj/AdobeStock

A shocking number of bulk carriers (as well as a few OBOs ‚Äď ore/bulk/oil carriers) have been suddenly and catastrophically lost at sea in the last 30 years. Following are the names of some of those vessels, in alphabetical order:- Asian Forest (2009); - Black Rose(2009); - Bulk Jupiter (2015); - Derbyshire (1980); - Emerald Star (2017); - Harita Bauxite (2013); - Hong Wei (2010); - Hui Long (2005); - Jian Fu Star (2010); - Nasco Diamond (2010); - Stella Daisy (2017); - Sun Spirits (2012); - Trans Summer (2013); and - Vinalines Queen (2011).

McLoughlin Joins North P&I Underwriting Team

Pic: North P&I Club

Global marine insurer provider North P&I Club has further strengthened its underwriting team with the appointment of a new U.K. based underwriter combined with some operational changes to a number of senior underwriting roles.Tom McLoughlin joined the team as an Underwriter last week, bringing with him a range of marine experience from his former roles with insurance brokers Marsh in London, and a significant tanker management company in Athens. Initially McLoughlin will work across all of the regional teams as he settles into his new role with the Club.Earlier in the year…

Maritime Reporter Magazine Cover Oct 2018 - Marine Design Annual

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