Maritime Law & Regulations News

26 Apr 2019

Ready for IMO 2020: Damen's Mobile BWTS

InvaSave 300 (Photo: Damen)

In less than five months, the IMO’s Ballast Water Convention will be extended to cover existing vessels as well as new builds. As of September 8, all will be required to comply by the time of their first IOPP certificate renewal following that date.To assist vessel owners in meeting their obligations under the convention while at the same time offering port and harbor authorities a value-added service that they can offer to their clients, Damen Green Solutions will be taking its InvaSave 300 mobile ballast water treatment system on tour to demonstrate its convenience…

26 Apr 2019

DFDS Invests in Biofuel Start-up

Image: DFDS

Danish shipping and logistics company DFDS has decided to invest in startup company Mash Energy ApS to develop a commercially viable biofuel.The Danish ro-ro giant said in a press note that MASH Energy ApS produces biofuel from agricultural waste, currently from the by-products of nut processing in Tanzania and India.The biofuel is CO2 neutral and can be used in ships. In addition, the residual product is an effective fertiliser and will also contribute to reduce the CO2 balance.Together with Mash Energy…

26 Apr 2019

IUMI Concerned about Global Marine Underwriting

Pic: International Union of Marine Insurance (IUMI)

The increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019, said the International Union of Marine Insurance (IUMI).Although the global fleet continued to grow at around 3% in 2018, the number of total losses (vessels over 500GT) stood at a 20-year low. Only 21 total losses were recorded last year and this is on the back of a general downward trend witnessed since 2010. The reduction was seen across all vessel classes.Serious casualties (excluding total losses) have stabilised over the past three years but are still higher…

26 Apr 2019

Novatek Sell 20% Stake in Arctic LNG 2 to China

Image: Novatek

Russian gas producer Novatek said on  that it had signed agreements with two Chinese companies to sell a combined 20 percent stake in its new liquefied natural gas project, Arctic LNG 2.Under the agreement, the Chinese firms -CNOOC and CNODC - will become shareholders in the Arctic LNG project with 10 percent each. Novatek gave no financial details in a statement announcing the agreements.According to a press release, Novatek  has signed a binding agreement to enter the Arctic LNG 2 project with China National Oil and Gas Exploration and Development Company Ltd (CNODC)…

26 Apr 2019

MPC Container Ships Gets Loan

Image: MPC Container Ships

Norwegian shipowner MPC Container Ships, which provides feeder tonnage, has entered into a USD 40 million three-year revolving credit facility agreement.The deal was signed with New York-based CIT Group at “attractive terms”, MPC Container Ships said.Drawdowns under the facility may be used toward investments, vessel upgrades or general corporate purposes, it said.Constantin Baack, CEO of MPC Container Ships, said: "We are very satisfied with the cooperation demonstrated by CIT's…

25 Apr 2019

EU Funding for Polish LNG Terminal Expansion

Pic: European Commission

The Polish government and the Polskie LNG company signed a grant agreement on 24 April for the extension of the Liquefied Natural Gas (LNG) terminal in Świnoujście, in north-western Poland on the Baltic Sea coast.Almost EUR 128 million from the European Regional Development Fund is invested in extending this terminal, which is the only facility of its size in Northern, Central and Eastern Europe.Commissioner for Regional Policy Corina Creţu said: "The extension of the Świnoujście terminal will help diversify natural gas supply sources and improve the country’s energy security.

25 Apr 2019

OP/ED: The Jones Act is Worth Fighting For

File Image: Congressman John Garamendi at a recent speech at the California Maritime Academy.

The President says he wants to make American great again, so why is he trying to destroy the principal support system for America’s maritime industry? This week, we learned that President Trump is “seriously considering” issuing a broad waiver for the Jones Act, a critical law that requires domestic shipping in the U.S. to occur on ships that are built in the United States, fly the U.S. flag, and are operated by crews consisting of at least 75 percent American citizens.I served as the top Democrat on the House Subcommittee of Coast Guard and Maritime Transportation for six years.

25 Apr 2019

Navios Takes Delivery of 10,000 TEU Boxship

Navios Maritime Containers announced that it took delivery of a 2011-built 10,000 TEU containership on April 23, 2019. As previously announced, the containership was acquired from an unrelated party for a purchase price of $52.5 million.The vessel is chartered out at a net rate of (i) $26,325 per day until November 2020 and thereafter (ii) $27,300 per day until October 2021.The acquisition of the containership was financed with: (i) a loan of $31.1 million from a commercial bank maturing in July 2023 and bearing interest at LIBOR plus 325 bps per annum, (ii) a $15.0 million credit by the seller for a period until January 2020 at a rate of 5.0% per annum and (iii) cash on the balance sheet.Navios Containers owns 30 containerships…

25 Apr 2019

Vessel Owner, C/E Indicted on Environmental Charges

Adobe Stock / Renaschild

A federal grand jury in Wilmington, Delaware, returned a six-count indictment today charging Chartworld Shipping Corporation, Nederland Shipping Corporation, and Chief Engineer Vasileios Mazarakis with failing to keep accurate pollution control records, falsifying records, obstruction of justice, and witness tampering, the Justice Department announced.The charges stem from the falsification of records and other acts designed to cover up from the Coast Guard the overboard discharges of oily mixtures and machinery space bilge water from the Bahamian-flagged cargo vessel…

25 Apr 2019

Floods Stall Inland Fertilizer Barge Shipments

Inland waterways with St. louis in the background. (Credit: St. Louis Regional Freightway)

Farm supplier CHS Inc has dozens of loaded barges trapped on the flood-swollen Mississippi River near St. Louis - about 500 miles from the company's two Minnesota distribution hubs.The barges can't move - or get crucial nutrients to corn farmers for the spring planting season - because river locks on the main U.S. artery for grain and fertilizer have been shuttered for weeks. High water presents a hazard for boats, barges and lock equipment.Railroads have also been plagued by delays from winter weather and flooding in the western Midwest…

25 Apr 2019

Nederland Reefer Faces Pollution Charges in US

Image: Chartworld Shipping Corporation

Greece’s Chartworld Shipping Corporation(CSC)'s cargo vessel Nederland Reefer, its manager, owner and the chief engineer have been indicted for falsification of pollution records, obstruction of justice and witness tampering.A federal grand jury in Wilmington, Delaware, returned a six-count indictment charging CSC, Nederland Shipping Corporation, and Chief Engineer Vasileios Mazarakis, according to the U.S Department of Justice.The charges stem from the falsification of records…

25 Apr 2019

HullWiper in Hull Cleaning Pact with Equinor

Pic: HullWiper Ltd

Vessel hull cleaning specialist HullWiper has signed a hull cleaning frame agreement with Equinor ASA for its fleet of oil and gas tankers operating in Scandinavia, Far East, Middle East and Europe.HullWiper is a global service provider of cost-efficient, safe and eco-friendly hull cleaning solutions which boost vessel efficiency and fuel savings to reduce CO2 emissions, whilst protecting vessel hull coatings and the delicate marine ecosystem.Its Remotely Operated Vehicle (ROV) system uses adjustable seawater jets under variable pressure to remove fouling…

24 Apr 2019

Hapag-Lloyd Publishes Sustainability Report

Pic: Hapag-Lloyd

As one of the largest liner shipping companies, Hapag-Lloyd bears a special responsibility for the environment, for its customers and shareholders, and for its employees, said the container shipping company in its second sustainability report.German-based transportation giant pointed out that ninety percent of all goods traded worldwide are transported by ship. With its 227 vessels, Hapag-Lloyd transports approximately 12 million containers per year. Container shipping thereby makes a significant contribution to a well-functioning global trade network.The current sustainability report…

24 Apr 2019

Court Postpones Bankruptcy Ruling for Croatia Yard

A court in Croatia on Wednesday postponed a bankruptcy ruling for the country's biggest shipbuilding group Uljanik until May 13, as the government tried to delay activation of state guarantees to a customer for late delivery of a vessel.The commercial court in the northwestern town of Pazin had already delayed its ruling from March and the decision in May should be final. Bankruptcy would threaten the jobs of around 3,000 workers.Uljanik, which owns two shipyards in the northern Adriatic cities of Pula and Rijeka and is 25 percent owned by the state, has been working to stave off bankruptcy due to liquidity problems that began in 2017.The…

24 Apr 2019

V.Group: Proactive Approach to 2020 Needed

Photo: V. Group

V.Group has urged shipowners and operators to take a proactive approach to 2020 compliance. With the global sulphur cap less than nine months away, V.Group is seeing growing numbers of shipowners and operators developing Ship Implementation Plans (SIPs) to mitigate risks and minimize disruption.It is predicted that most ships will burn ultra low sulphur fuel oils (ULSFOs) to comply with the suplhur cap legislation, switching from high sulphur fuel oil (HFO) to ULSFOs with a sulphur content at, or below, 0.50%, unless equipped with scrubbers.

24 Apr 2019

Seagull Maritime Acquires Tero Marine

Photo courtesy of Seagull Maritime

Seagull Maritime announced that they have acquired a majority of the shares in Tero Marine. Tero Marine, headquartered in Bergen, Norway, has developed fleet management software for the shipping industry for more than three decades. The company’s flagship, TM Master, is recognized as one of the leading brands in the business. Today, TM Master is a crucial tool for shipowners all over the world, not only as an instrument for planned maintenance (and asset management), but also as a business intelligence resource.Tero Marine is growing fast and has currently more than 55 employees…

24 Apr 2019

Aus Govt Cancels Funds for Newcastle Cruise Terminal

Image: Port of Newcastle Operations Pty Limited

Port of Newcastle issued a media release announcing that Infrastructure NSW, an Australian government entity,  had withdrawn A$12.7 million funding for the project.“Infrastructure NSW has advised that the AUD12.7 million funding for the cruise terminal project is no longer available,” the Port of Newcastle said in a statement.Port of Newcastle has been working on this project on behalf of the NSW Government on the basis of providing a facility that meets the cruise industry's…

24 Apr 2019

Naval Group Invests in b<>com

Image by  Naval Group

Naval Group has just joined b<>com, a European innovation center based in France. This partnership brings together the European leader in naval defense and the researchers and engineers of the innovation center with a wide range of expertise.It will help to accelerate technological advances in the field of new digital and communication technologies. The two partners will work together on breakthrough solutions and innovations to reinvent digital solutions for naval defense solutions.The global naval defense market…

23 Apr 2019

Wallenius, SOL Join Forces to Launch New Firm

Pic: WALLENIUS SOL

Two Swedish shipping companies - Wallenius and Swedish Orient Line (SOL) - have formed a shipowning joint venture that will sail from ports in Sweden and Finland.The company has five ships so far and plans to order four LNG-powered newbuilds to operate ice-class vessels for the forestry product trades in the Gulf of Bothnia and Baltic Sea area.The new Nordic joint venture, named WALLENIUS SOL,  is to strengthen the infrastructure for the needs of Finnish and Swedish industry.

23 Apr 2019

Sudan Suspends Philippine Port Operator

Sudan's military rulers on Tuesday suspended a contract with Philippine port operator International Container Terminal Services Inc pending its cancellation, the country's Transitional Military Council said in a statement.Workers at Port Sudan's southern container terminal went on strike in February to protest against a 20-year concession signed in January to operate, manage and develop the South Port Container Terminal at Port Sudan.Reporting by Khalid Abdelaziz

23 Apr 2019

MARAD Awards $6.7m in Marine Highway Grants

Container on Barge (Photo: PortNOLA)

The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced $6,790,000 in grants to three Marine Highway projects. The funding, provided by MARAD’s Marine Highway Program, will go towards enhancing existing services in Louisiana and Virginia as well as supporting the development of a new project in New York.“These grants will expand the use of our country’s waterways, which are essential to our economic growth and vitality,” said U.S. Secretary of Transportation Elaine L. Chao.

22 Apr 2019

Nakilat Reports 9% Profit Jump in Q1

Pic: Qatar Gas Transport Company (Nakilat)

Qatar Gas Transport Company (Nakilat), a shipping and maritime company with the world's largest LNG shipping fleet, reported a 9 percent increase in profit for the first quarter of this year ended March 31, 2019.Nakilat reported a net profit of 236 million Qatari Riyals ($64.8 million) which compares to 217 million Qatari Riyals reported in the corresponding quarter in 2018."This increase was mainly due to the acquisitions of two Liquefied Natural Gas (LNG) carriers and one Floating Storage Regasification Unit (FSRU) in 2018, and higher volume of projects at Nakilat’s ship repair facility.

22 Apr 2019

USCG Releases Arctic Strategic Outlook

USCG Healy Icebreaker CREDIT NyxoLyno Cangemi USCG

The U.S. Coast Guard, today released its newest strategy to address its expanding role in the Polar Regions.As the Arctic region continues to open, and strategic competition drives more actors to look to the Arctic for economic and geopolitical advantages, the demand for Coast Guard leadership and presence will continue to grow.As the Nation’s primary maritime presence in the Polar Regions, the Coast Guard advances national interests through a unique blend of polar operational capability, regulatory authority, and international leadership across the full spectrum of maritime governance.

22 Apr 2019

Domestic Vessel Annual Report for 2018 now available

File Image: A USCG safety inspector at work on the waterfront. CREDIT USCG / Anthony Soto

The Office of Commercial Vessel Compliance has announced the publication of the 2018 Domestic Annual Report.The report highlights, U.S. domestic fleet deficiencies, inspections, and marine casualty statistics and serves as a powerful tool to study trends, identify key performance indicators, and bring attention to issues in the fleet.The report presents information reflecting the entire U.S. Flag fleet, including barges, cargo vessels, passenger vessels, vessels operating on the Outer Continental Shelf…

22 Apr 2019

KR Responds to RMI Report on Stellar Daisy Casualty

File Image: CREDIT MarineTraffic.com / © Yeong Ryong Kim

Korean Register (KR), its Chairman, management and entire staff offers sincere sympathies to the families and loved ones of the seafarers who tragically lost their lives due to the sinking of Stellar Daisy. KR reaffirms its commitment to investigating the causes of the sinking, sharing its knowledge and implementing any changes necessary to avoid a similar loss in the future. The factsStellar Daisy was a 266,141 dwt Very Large Ore Carrier (VLOC) owned by Polaris Shipping and flagged with the Republic of the Marshall Islands (RMI).

22 Apr 2019

Oman LNG Settles $2bln Loan in Advance

Pic: Oman LNG

Oman Liquefied Natural Gas LLC has announced that it has successfully repaid its US$2 billion loan facility obligation ahead of schedule, saving interest costs.According to Oman News Agency, the move is part of the company’s ongoing efforts to reduce financial costs and support Oman’s credit rating.The agency quoted Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas and chairman of Oman LNG, as saying: “The early repayment of the loan by Oman LNG demonstrates the financial robustness of the company and confidence in the oil and gas industry and Omani economy at large.

21 Apr 2019

Aramco Buys Shell's Stake in Saudi JV

Pic: Saudi Aramco

The Saudi Arabian Oil Company (Saudi Aramco) is  planning to buy oil major Shell's 50% stake in Saudi Aramco Shell Refining Co (SASREF), a Saudi refining complex developed as a joint venture between the two oil companies,  for $631 million.Abdulaziz Al-Judaimi, Saudi Aramco‘s Senior Vice President of Downstream, said: “The partnership with Shell has led to a strong record of performance and delivery of refined products. Saudi Aramco will take full ownership and integrate the refinery into its growing Downstream portfolio.

21 Apr 2019

LNG Prices Nosedive

Graph: Rystad Energy

A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9.90 per MMBtu in September 2018 to $4.40 per MMBtu during the first week of April.Current low prices at importing markets offer producers in the main exporting countries – Australia, Qatar and the…

19 Apr 2019

Total to Invest in Novateks LNG Projects

Pic: Novatek

The French oil giant Total intends to buy 10% shares of the transshipment points of liquefied natural gas in Murmansk and Kamchatka, which Novatek plans to build.Russian news agency TASS quoted the CEO of the French company Patrick Pouyanne as saying: "We have just announced that we are investing in Arctic LNG 2, but we are also investing in terminals in Murmansk as well as in Kamchatka. This is part of our agreement with Novatek. To develop Arctic LNG 2, we need two hubs — one in Murmansk, the other in Kamchatka.

19 Apr 2019

D'Amico Fined $4mln for US Pollution Violations

Pic: d'Amico

d’Amico Shipping Italia will pay a USD 4 million penalty and be placed on probation for four years after violating the Act to Prevent Pollution from Ships in the US.The Italian shipping company has admitted discharging oily waste and other pollutants into the sea and then lying about it, U.S. Attorney Craig Carpenito and Assistant Attorney General Jeffrey Bossert Clark announced.The company pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court to an information charging it with violating the Act to Prevent Pollution from Ships.Under terms of the plea agreement…

19 Apr 2019

North P&I Club Readies for the Big Switch

Tiejha Smyth (left) and Mark Smith. Photo: North P&I Club

The marine mutual liability insurer North P&I Club has updated its guidance on the 2020 Sulphur Cap for Members, helping them prepare for the big switch to compliance on 1 January 2020.Following on from a comprehensive programme of events, training sessions and publications which have been rolled out over the past 12 months, North’s Members now have access to three new guides to ensure safe and compliant operations.The three guides cover the three main methods of achieving compliance: using distillates (MGO/MDO)…

19 Apr 2019

Shipping Firm Fined $4M for Pollution Violation

File Image: AdobeStock / © Renaschild

$1 Million Will Go to Projects that Support Cleanup of Marine Pollution, Preservation of Aquatic Life, and Restoration of Shorelines around Newark Bay.A shipping company based in Italy today admitted discharging oily waste and other pollutants into the sea and then lying about it, U.S. Attorney Craig Carpenito and Assistant Attorney General Jeffrey Bossert Clark announced.The company, d’Amico Shipping Italia S.p.A., pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court to an information charging it with violating the Act to Prevent Pollution from Ships.

19 Apr 2019

SubM Deadlines Looming Large

File Image (CREDIT: AWO)

Subchapter M – Only a few days left to schedule inspections to meet July 22, 2019 compliance requirements. Rear Adm. John Nadeau, assistant commandant for prevention policy, weighs in on options and instructions.As of July 20, 2018, towing vessel owners and operators are responsible for ensuring that their vessels comply with the provisions of 46 CFR Subchapter M, even if they have not received a Certificate of Inspection (COI). Additionally, in accordance with 46 CFR 136.202…

19 Apr 2019

Europe Invests $30bln in Wind in 2018

Image: WindEurope

Europe invested a total of EUR27bn (USD 30.34bln) in new wind farms in 2018, allowing it finance a record amount of new wind energy capacity, according to European trade body WindEurope.Europe invested EUR 10.3 billion in new offshore wind farms with a combined capacity of 4.2GW in 2018.Investments in new offshore wind projects increased by 37% from 2017 but were still some way off the record EUR 18.2 billion seen in 2016, according to the report. The capacity financed in 2018 is also the second highest after 2016.The total amount invested in wind power is similar to previous years.

19 Apr 2019

Oil Spill Dispersant Market to Reach $23.6bln by 2026

Oil spill containment. Image: Canadyne Technologies

The global Oil Spill Dispersant Market is anticipated to grow at a constant CAGR around 3% during the forecast period 2019 to 2026 and reach the market value around USD 23.6 billion.The growth of the market for oil spillers depends directly on the frequency, the time and volume of petroleum spill events, said a market report by Acumen Research and Consulting.Oil pollution is a common term for seawater, land water or land contamination due to oil release due to an accident or human error. Oil contamination is spread throughout the world and is boiled both onshore and offshore.

19 Apr 2019

Oryx Acquires South African Marine Fuels

Image: South African Marine Fuels Pty Ltd

Oryx Energies, a provider of oil and gas products and services, has acquired the majority stake in South African Marine Fuels (SAMF), a bunkering company in Algoa Bay, Eastern cape, South Africa.Founded in 2016, SAMF is a woman-run enterprise with 100% South African staff operating at the only port in South Africa that has licensed offshore bunkering and ship service operations targeting both port calling ships and general passing traffic in this strategic location on the busy East-West routes."Thanks to its integration into Oryx Energies…

18 Apr 2019

BW Group Increases Epic Gas Stake

Pic: BW Group

Singapore-based BW Group has increased its stake in the pressurised LPG shipping solutions company Epic Gas to 82.58% with the completion of its voluntary unconditional offer.On 16 April, BW Group received acceptances under the Offer for a total of 9,698,135 shares, corresponding to approx. 13.76% of the outstanding shares and voting rights in the Company.Under the Offer, BW Group has received acceptances for a total of 19,646,947 shares, corresponding to 27.88% of the outstanding shares and voting rights in the Company.Together with the 38…

18 Apr 2019

Autonomous Ship Tech: Opportunity & Risk

There have been numerous articles and opinion pieces speaking of the potential application areas of maritime autonomous technology, the elimination of “human error”, and the resulting safer operations that will supposedly be realized. The question of whether autonomous ships will offer safer solutions than crewed ships remains to be answered, and will not be resolved today. However, there is an important issue regarding levels of autonomy in vessel operations that needs to be addressed.Many vessel operators feel that this technology will not impact their particular operating environment, and therefore there is no reason for them to worry about it. But the reality is that all vessel operators should stay abreast of developments in the arena of autonomous vessel operations.

18 Apr 2019

BY THE NUMBERS: Replace your Workboat Engine (now)

New Research Doubles Service Life Estimate of Marine Workboat Engines, Reveals Big Opportunities for Diesel Emissions Reductions.It turns out that commercial workboat engines are staying in service more than two times longer than predicted by the U.S. Environmental Protection Agency (EPA), according new research from the Diesel Technology Forum (DTF) and Environmental Defense Fund (EDF). That says a lot for the quality of marine engines, but at the same it isn’t necessarily a good thing.

18 Apr 2019

MOL Buys Reliance Ethane Carrier Fleet

Image: MOL

Japanese shipping giant Mitsui OSK Lines (MOL) will buy Reliance Industries (RIL) stakes in Singapore-based Reliance Ethane Holding (REHPL) which has a fleet of six very large ethane carriers (VLECs).RIL has 100% holding in six limited liability companies (LLCs) which own the VLECs. "MOL and a strategic minority investor have signed binding definitive agreements for an investment in the six special purpose limited liability companies each owning a VLEC," said a statement from the Mukesh Ambani-led Indian conglomerate holding.Transaction closing is subject to regulatory approvals.

17 Apr 2019

Zeaborn Takes Full Ownership of Zeamarine

Zeaborn Frontier (CREDIT: Zeaborn)

The ZEABORN Group has signed an agreement to acquire the remaining ownership interests in ZEAMARINE held by New Mountain Capital.The ZEAMARINE joint venture was formed in August 2018 when New Mountain Capital and ZEABORN agreed to combine the commercial activities of Intermarine, ZEABORN Chartering and Rickmers-Line under the umbrella of ZEAMARINE, creating one of the world’s largest MPP carriers.The most recent transaction is subject to approval from the antitrust authorities.

17 Apr 2019

Navios Maritime Discloses Sale, Leaseback Deals

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, announced that it has completed a $103.2 million sale and leaseback transaction for three MR2 product tankers and two LR1 product tankers. The proceeds have been used to refinance $82.4 million of bank debt.The Transaction provides for 28 quarterly payments of $2.3 million each plus interest at LIBOR plus 350 bps per annum. Navios Acquisition has an obligation to purchase the vessels at the end of seventh year for $39.7 million. Navios Acquisition has no further maturities on its credit facilities for the next 14 months.

17 Apr 2019

USCG: Marijuana for Mariners Still Forbidden

File Image: AdobeStock / © ststoev

Marijuana use remains incompatible with sea service despite changes in state laws.Every year, dangerous drug use disrupts or destroys the careers of hundreds of professional mariners, threatening safety throughout the maritime transportation system at the same time. The ravages of addiction and accidental overdose make headlines daily, yet drug use among both the general population and safety-sensitive workforce continues to increase. Much of the rise is attributable to the growing use of marijuana…

17 Apr 2019

Fincantieri, Two Others Bid in Bulgarian Navy Tender

File Image: CREDIT Fincantieri

Italy's Fincantieri, German shipyard Luerssen and Bulgaria's MTG Dolphin have submitted bids in a 984 million levs ($570 million) tender to build two patrol ships for the Bulgarian navy, the defence ministry said on Wednesday.The Black Sea country is looking to replace its three ageing Soviet-made patrol ships with the new vessels and improve its compliance with NATO standards.The offers will be opened on April 22, the ministry said in a statement.

17 Apr 2019

“It’s the steel production, stupid!”

Peter Sand, BIMCO

BIMCO's Peter Sand, in a new report, weighs in on the implications for the Dry Bulk sectors.Chinese imports of iron ore keep falling, while its crude steel production keeps growing. China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Capesize ships are impacted by this, way beyond the temporary iron ore export disruptions in Brazil and Australia.Chinese steel production grew by a massive 12.6 million tonnes (+9.2%) in the first two months on 2019 as estimated by China Iron and Steel Association (CISA).

16 Apr 2019

Songa Bulk Merge with Axxis Geo Solutions

Pic: Axxis Geo Solutions

Norway-based Songa Bulk AS, an investment vehicle established to invest in dry bulk assets, has made an agreement to merge with company Axxis Geo Solutions (AGS).Per deal, Songa Bulk will assume the assets, rights and obligations of the Houston-based AGS against issuance of shares in Songa Bulk to existing shareholders of AGS.The exchange ratio in the Merger is based on an equity value of Songa Bulk of NOK 17.93 million, corresponding to a price per share of NOK 0.5, and an equity value of AGS of NOK 514.82 million…

16 Apr 2019

Frank Coles Charts New Strategy for Wallem

Pic: Wallem Group Limited

The maritime solutions company with expertise in ship management Wallem said that it  has updated its corporate identity to mark the beginning of a shift in its service offering that will harness the latest technology to improve asset management transparency and efficiency in a program intended to transform the relationship between owners and their shipsHong Kong headquartered Wallem Group is changing itself and its brand to support the maritime industry as it undergoes a structural…

16 Apr 2019

Ferretti's Owner Aims to List Yacht Maker

Photo courtesy of Ferretti Yachts

Chinese conglomerate Weichai Group, which owns a near 87 percent stake in Ferretti, plans to list the luxury yacht maker but has still to decide a timetable for the deal, the Italian firm's chief executive said on Tuesday."The listing is an opportunity," Ferretti CEO Alberto Galassi said. "Our Chinese investor sees it as a natural evolution of its investment."He added that the formal process for the initial public offering had not yet started, and that it could be difficult to complete the deal by year-end."It is up to shareholders to decide…

16 Apr 2019

MJP Awarded Taiwan Coast Guard Contract

Taiwan Coast Guard select MJP to equip their 100-ton class vessels (Photo: MJP)

Marine Jet Power (MJP) has been awarded a multi-unit, multi-year contract with CSBC Shipyard to provide propulsion for 15, 100-ton class vessels for the Taiwan Coast Guard (TCG).The 34-meter vessels will be built at CSBC’s facility in Keelung, Taiwan. Featuring dual MJP stainless steel 750 DRB waterjets, the vessels are predicted to exceed 30 knots and will be powered by MTU inboard diesel engines.Selected for its superior quality and durability in the field, MJP’s DRB line of waterjets are constructed from duplex stainless-steel and feature all inboard hydraulics.

16 Apr 2019

Piracy, Sea Robbery Situation in Asia in Q1 2019

Photo courtesy of ReCAPP

Piracy and Armed Robbery against Ships in Asia 1st Quarter Report January to March 2019Overall SituationA total of 10 incidents of armed robbery against ships (comprising nine actual incidents and one attempted incident) were reported in Asia during January-March 2019 compared to 21 incidents (comprising 15 actual incidents and six attempted incidents) during January-March 2018This accounts for a 52% decrease in the total number of incidents reported during January-March 2019 compared to the same period in 2018The number of actual incidents has also decreased by 40% during January-March 2019 c

16 Apr 2019

Iridium Readying GMDSS Services for Launch

IMSO Director General, Captain Ahmed Moin and Iridium Director of Maritime Safety and Security Services, Kyle Hurst during the signing ceremony at IMSO headquarters. IMAGE: Credit Iridium

A Historic Public Services Agreement has been signed as Iridium Continues Readying GMDSS Services for Launch. International Mobile Satellite Organization and Iridium continue progress towards Iridium’s January 2020 GMDSS Debut.Iridium Communications Inc. (NASDAQ: IRDM) announced today the signing of their Public Services Agreement (PSA) with the International Mobile Satellite Organization (IMSO), which details the conditions for IMSO to act as regulator and maintain oversight…

15 Apr 2019

Hyundai Heavy Sells Oil Stake to Saudi Aramco

Group photo of Saudi Aramco and HHIH executives and team members after the signing ceremony. Photo:  Saudi Arabian Oil Co.

South Korean shipyard Hyundai Heavy Industries sells its share of oil refinery Hyundai Oilbank to Saudi Arabian oil giant Saudi Aramco.According to a press release, Saudi Aramco’s subsidiary,  Aramco Overseas Company B.V (AOC) will purchase a 17% stake in South Korea's Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings.The investment is valued at approximately $ 1.25 billion, it said.AOC’s’s investment in South Korea’s Hyundai Oilbank will support Saudi Aramco’s…

15 Apr 2019

Rotterdam Port Produce Less Emissions

Photo: Kees Torn, Port of Rotterdam

The industry in the port of Rotterdam has released less CO2 into the atmosphere for the second year in a row.According to new figures published by the Dutch Emissions Authority (NEA), the sector has cut its emissions by 13.6% (4.2 million tonnes) over the past two years.For the second year in a row, industry in the port of Rotterdam has released less CO2 into the atmosphere. This becomes clear from new figures published by the Dutch Emissions Authority (NEA). The sector has cut…

15 Apr 2019

BP, Nouryon, Rotterdam Port Join for CO2 Cut

Pic: Port of Rotterdam

British multinational oil and gas company BP, Nouryon (formerly AkzoNobel Specialty Chemicals), and the Port of Rotterdam have joined forces to explore the opportunity of making “green hydrogen” via water electrolysis for BP’s refinery in Rotterdam, the Netherlands, which has the potential for significant reductions in CO2 emissions.The refinery currently uses hydrogen made from hydrocarbons, to desulphurize products. Replacing this entirely with green hydrogen produced from water using renewable energy could potentially result in a reduction of 350…

15 Apr 2019

ITC Faces Added Costs for March Fire & Spill

File Image:  An aerial view of the Houston Refining complex and ship channel / CREDIT: AdobeStock / © Irina K

The costs of a massive fire and chemical spill at a Houston petrochemical facility have begun trickling out, with a local official on Monday estimating emergency response costs at $800,000 for the first two weeks of the disaster alone.A blaze at Mitsui & Co Ltd's Intercontinental Terminals Co (ITC) petrochemical facility in Deer Park, Texas, last month released cancer-causing chemicals into the air and waterway that connects Houston to the Gulf of Mexico, disrupting shipping along the nation's busiest oil port.County employees devoted 16…

15 Apr 2019

CCG Provides Icebreaker Nod for Seathigor

Photo: Thordon Bearings

Thordon Bearings has received a Canadian Coast Guard contract to supply six award-winning SeaThigor shaft seals for retrofit installation to three purpose-built icebreakers.The 5,910grt CCGS Pierre Radisson, named after the 17th-century French fur trader and explorer, along with sisterships CCGS Amundsen and CCGS Des Groseilliers, will each be retrofitted with two SeaThigor forward seals during scheduled drydockings over the next year.The order, confirmed on the 1st of April,…

15 Apr 2019

ClassNK Releases Cyber Security System

Classification Society ClassNK has released its Cyber Security Management System for Ships.As part of the ClassNK Cyber Security Series, ClassNK regularly releases guidelines and standards that outline cyber security measures based on the recently-released ClassNK Cyber Security Approach that outlines ClassNK’s basic approach to ensuring onboard cyber security for ships.The Cyber Security Management System for Ships provides guidance on ensuring, implementing, maintaining, and continuously improving the cyber security management system of companies and ships with the goal of safe navigation.

15 Apr 2019

Drewry: After the sugar rush

Container operations at the port of Hong Kong, one of the world’s busiest. (Photo: Adobe Stock / © Marco 2811)

Following the tariff-induced cargo rush of late-2018, container shipments from Asia to West Coast North America dived in Q1, denting carriers’ hopes of securing higher annual contracts.Things can change very quickly in the Transpacific container market. In our previous analysis of the Asia-West Coast North America trade at the end of last year, the market was booming with eastbound spot freight rates at a six-year peak. However, now that the sugar rush caused by the threatened tariffs on Chinese goods has passed…

15 Apr 2019

BMA Appoints Hutchinson as MD, CEO

Captain Dwain E. Hutchinson (Photo: BMA)

The Bahamas Maritime Authority (BMA) announces the appointment of Captain Dwain E. Hutchinson as its Managing Director and Chief Executive Officer. Captain Hutchinson succeeds Commodore Davy F. Rolle, who stepped down as Director last year.Captain Hutchinson is a proud Bahamian from Nassau, New Providence island, where he completed his tertiary education before commencing his maritime studies in Scotland at Glasgow College of Nautical Studies. Qualified with a UK Master Mariner (Unlimited) STCW Certificate of Competency…

15 Apr 2019

WASHINGTON WATCH: A Tale of Two Fleets

Jeff Vogel, a Member in Cozen O’Connor’s Transportation & Trade Group.

Mixed Government Support for U.S. Shipbuilding.It has been a busy start to the 116th Congress for the U.S. shipbuilding industry, with three congressional hearings in early March focused on the industry’s role as a critical component of the U.S. national security industrial base. In addition, the Consolidated Appropriations Act, 2019, which was signed into law on February 15, contained mixed news for shipbuilding programs. Through the congressional hearings and enacted legislation, two opposing themes have emerged.

12 Apr 2019

Chevron Buys Anadarko for $50Bln

Pic: Chevron Corporation

Chevron, the second-largest US oil and gas company, has agreed a $50bn deal to buy Anadarko Petroleum (APC)  in a massive deal that will bolster its natural gas and shale operations.The cash and stock deal announced Friday values Anadarko at $65 per share, 39% higher than the oil company's closing stock price on Thursday. Based on Chevron’s closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share.

12 Apr 2019

Denmark to Sniff Out Sulfur Polluters

Pic: Danish Maritime Authority

In the coming months, a large drone will check emissions from ships in Danish waters to make sure they comply with the sulphur limit, said Danish Maritime Authority (DMA).The drone is provided by the European Maritime Safety Agency, and is to be used as a means of preventing ship pollution.The drone is fitted with a so-called "sniffer” capable of measuring sulphur emissions. Entering the ship's exhaust gas plume, the drone can register the amount of sulphur in the fuel. These data are immediately available to Danish authorities…

12 Apr 2019

U.S. Sanctions Firms, Ships for PDVSA Cargoes

The United States on Friday announced more sanctions on shipping companies transporting oil from Venezuela, blacklisting four shipping companies and nine vessels, some of which the U.S. Treasury Department said carried oil to Cuba.The U.S. Treasury identified the firms as Liberia-based Jennifer Navigation Ltd, Lima Shipping Corp and Large Range Ltd, and Italy-based PB Tankers S.P.A.It blacklisted one tanker belonging to each of the Liberian firms and six owned by the Italian firm.A Treasury statement said Venezuela’s oil sector continued "to provide a lifeline to the illegitimate regime" of Venezuelan President Nicolas Maduro.“We continue to target companies that transport Venezuelan oil to Cuba…

12 Apr 2019

U.S. LNG Shipments Fall to Six-Month Nadir

cheneire's Sabine Pass Terminal. CREDIT: Cheneire

U.S. shipments of liquefied natural gas are expected to fall to their lowest level in six months in April, after a leading U.S. supplier shut units for maintenance at a time when a glut of supply has driven some worldwide prices to near three-year lows.Based on exports through April 10, the United States is on track to sell roughly 91.5 billion cubic feet per day (bcfd) of natural gas as LNG, which would be the lowest since October. That compares with an estimated record 139.8 bcfd shipped in March…

12 Apr 2019

Nord/LB Sells Shipping Loans for USD2.9bln

Image: NORD/LB

German lender Norddeutsche Landesbank (Nord/LB) has completed the sale of a EUR 2.6 billion (USD2.9bln) shipping loan portfolio. The bank recently announced its withdrawal from shipping.A US hedge fund Cerberus Capital Management took over the portfolio, which comprises of the 263-vessel book - known as "Big Ben" -  with a non-performing loan (NPL) portion of some 90%.The transaction was closed on 9 April, in accordance with the signing of the purchase agreement dated February 2019, the German bank said.

11 Apr 2019

CSA 2020 Welcomes Samsa Decision on EGCS

Pic: South African Maritime Safety Authority

South African Maritime Safety Authority (SAMSA) has decided to allow the use of exhaust gas cleaning systems (EGCS) in its territorial waters and ports ahead of the IMO 2020 regulation.The Clean Shipping Alliance 2020 (CSA 2020) has welcomed the decision by SAMSA to accept all types of approved exhaust gas cleaning systems (EGCS) for use in its territorial waters.In an IMO 2020 advisory notice issued in March to shipowners, operators, master mariners and bunker suppliers, SAMSA says the use of open-loop…

11 Apr 2019

Study Shows LNG Forming Pathway to IMO 2050

Pic: SEA\LNG

Greenhouse Gas (GHG) reductions of up to 21% are achievable now from LNG as a marine fuel, compared with current oil-based marine fuels over the entire life-cycle from Well-to-Wake (WtW).An independent study report confirms that emissions of other local pollutants, such as sulphur oxides (SOx), nitrogen oxides (NOx) and particulate matter (PM), are close to zero when using LNG compared with current conventional oil-based marine fuels.The study, commissioned by SEA\LNG and SGMF, was conducted by leading data and consultancy provider thinkstep according to ISO standards.

11 Apr 2019

Teekay Gets ECA-backed Newbuild Loan

Image: Teekay Offshore Partners

Teekay Offshore Partner, a marine energy transportation, storage & production company, has signed for a shipping export credit agency (ECA)-backed US$414m debt facility to fund four LNG-fuelled newbuild shuttle tankers.Watson Farley & Williams (WFW) is advising its long-standing client Teekay on this ECA-backed newbuild loan, noted a release.The facility, which bears interest at Libor plus 225 basis points for up to 12 years from each delivery, is funded and guaranteed by both…

11 Apr 2019

GOGL Buys Stake in Singapore Marine

Pic: Golden Ocean Group

Norway-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has acquired a 15% ownership interest in Singapore Marine, a dry bulk freight operator sponsored by Peter Weernink, the former Chief Executive Officer of Swiss Marine SA.Singapore Marine, which has offices in Singapore, Geneva and Verbier, will initially focus on the Post Panamax to Capesize vessel segments and seek to generate returns in all market conditions by employing an asset-light business model.Thomas Semino…

11 Apr 2019

Shipbreaking: 142 Sent to South Asia in Q1

Image: NGO Shipbreaking Platform

142 ships were sold in the first quarter of 2019 to the beaches of South Asia where they were broken under conditions that cause irreversible damage to both human health and the environment.According to a quarterly update from the NGO Shipbreaking Platform, between January and March, three workers have lost their lives and four were severely injured when breaking ships in Bangladesh.On 28 January, according to local sources, Md Motiur Rahman lost his life while working at S. S. Green Ship Breaking yard, located on the beach of Chittagong, Bangladesh.

10 Apr 2019

CMA CGM Finalizes Ceva Logistics Tender

Pic: CMA CGM

French shipping giant CMA CGM has completed its public tender offer to acquire CEVA Logistics.The French carrier has confirmed the acquisition of Ceva Logistics after announcing it holds 97.89 percent of the company’s stock and will therefore de-list it from the Zurich Stock Exchange after April 16."Merging CEVA's operations into the CMA CGM Group will strengthen its position as a worldwide leader in maritime transport and logistics. Present in 160 countries, the Group will be 110…

10 Apr 2019

Algeria to Protect Marine Environment

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO) training on the international treaty covering waste dumping at sea, the London Protocol, is underway for Algerian government officials and participants from shipping companies and port authorities.The workshop, held in Alger (9-10 April), is enabling cooperation between different sectors – allowing effective implementation of measures aimed at protecting the marine environment from dumping of harmful wastes at sea.As set out in the London…

09 Apr 2019

MSC Boxship Spills Oil at Port of Sines

Pic: MSC

Work is ongoing to contain a “large oil spill” that contaminated waters in Port of Sines, Portugal late on Thursday night during a routine refuelling operation.MSC Sandra Panama-flagged container ship, operated by Swiss Mediterranean Shipping Company (MSC) has reported leakage of marine fuel oil while bunkering in the Sines harbour late on 4 April."The authorities were immediately informed and action was swiftly taken to minimize the environmental impact of the incident. We understand that removal of the oil from the water has progressed at a good pace…

09 Apr 2019

Maersk Mulls Trade Financing Growth in India

Image: Maersk

Shipping major AP Moller-Maersk Group's export-import (exim)-focused trade finance arm Maersk Trade Finance is targeting a 33 percent loan disbursal growth at $200 million in 2019 in India.The trade financing solution arm of Danish business conglomerate said that it disbursed a total of USD 0.7 billion globally till date since its inception in 2015, with over 150 million in India in the year 2018, a 53% Y-o-Y increase as compared to 2017.Vipul Sardana, Global Head of Maersk Trade Finance said “Indian SME sector continues to play a significant role in India's economic development.

09 Apr 2019

Putin Wants Northern Sea Route Hubs

(Photo: SCF Group)

Russian President Vladimir Putin on Tuesday invited foreign investors to take part in the construction of port infrastructure in Murmansk and Petropavlovsk-Kamchatsky that would serve the Northern Sea Route.Speaking at an Arctic forum in the Russian city of St Petersburg, Putin also asked the government to draw up plans for tax relief that would promote the development of the Arctic region."We invite our foreign partners to joint work to create port hubs at the end points of the (Northern Sea) route," Putin said.(Reporting by Vladimir Soldatkin and Gleb Stolyarov; Writing by Tom Balmforth; edi

09 Apr 2019

Vopak Sells 3 Terminals First State Investments

Image: Royal Vopak

Dutch oil and chemicals storage company Royal Vopak has agreed to sell three terminals - Algeciras, Amsterdam and Hamburg - to First State Investments for 723 million euros ($812 million)."This divestment follows the strategic review of these terminals as announced on 17 August 2018. The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019. The combined operational capacity of the three terminals is 2,288,000 cbm…

09 Apr 2019

ABS Launches Sustainability Center in Singapore

Image: ABS

The American Bureau of Shipping (ABS) has launched a Global Sustainability Center in Singapore as s decarbonising shipping becomes mission critical for the industry classification society.The ABS Global Sustainability Center's mission is to help maritime transition to a sustainable, lower emissions industry, said a statement.“Decarbonizing shipping is a challenge that will compel the industry to reach new technology frontiers. At the same time, it is an opportunity to transition to a more sustainable world economy enabled by efficient…

09 Apr 2019

Top Honours for CMA CGM, Mrs Gina Lee-Wan

Recipient of the International Maritime Centre (Individual) award, Mrs Gina Lee-Wan. Photo: Government of Singapore

The global container shipping company CMA CGM Group and maritime lawyer Gina Lee-Wan, Partner and Co-Head of Maritime and Aviation Practice at Allen & Gledhill, recognised at Singapore International Maritime Awards 2019."CMA CGM and Mrs Gina have received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively," said a press release from the Maritime and Port Authority of Singapore (MPA).A world leader in maritime transportation, CMA CGM has been steadily expanding its presence in Singapore.

08 Apr 2019

NAVTOR NavBox Certified Cyber Secure

Photo: Navtor

Set against the background of increasing cyber threats to the maritime industry, e-Navigation specialist NAVTOR has moved to demonstrate the integrity of its innovative NavBox solution with ‘cyber secure’ certification (IEC 61162-460 Gateway) from DNV GL. NavBox, which automates the distribution and updates of digital charts, publications and other navigational data, now guarantees both complete regulatory compliance and security for an increasingly digitized generation of shipowners…

08 Apr 2019

IMO 2020 Impact on Fuel Bunker

Graph: Rystad Energy

When new International Maritime Organization’s (IMO’s) bunker fuel regulations come into effect on January 1, 2020, there remains uncertainty regarding the availability and pricing for all marine fuel, as owners grapple with technical solutions for compliance.The sulfur content limits in bunker fuels used outside the designated Emission Control Areas (ECAs) will be reduced to 0.5% (from 3.5%) to reduce air emissions from shipping.High sulfur fuel oil (HSFO) currently represents nearly 80% (approx.

05 Apr 2019

Aegean Marine Becomes Minerva Bunkering

Pic: Aegean Marine Petroleum Network

Marine fuel logistics company Aegean Marine Petroleum Network  announced  that its plan of reorganization became effective and it has emerged from the voluntary Chapter 11 restructuring commenced on November 6, 2018.The company will now operate under the name of 'Minerva Bunkering', a fully-owned subsidiary of Mercuria Energy Group Limited, a major privately-held energy and commodities group with an annual turnover in excess of $100 billion.“We are pleased that Aegean has completed its restructuring…

05 Apr 2019

Master of Panama-Flagged Bulker Prosecuted

Spinnaker SW Photo: Maritime NZ ©2019

Maritime NZ brought charges against Jianxi Chen, Captain of the Panama-flagged bulk carrier Spinnaker SW on Friday, March 29, 2019.Captain Chen was charged with permitting dangerous activity involving ships or maritime products under section 65(2) of the Maritime Transport Act 1994.Captain Chen permitted crew to load a cargo of logs onto the Spinnaker SW, without the use of personal protective equipment or systems to prevent falls from height, which caused unnecessary danger or…

04 Apr 2019

Teekay Secures Loan for Shuttle Tanker Newbuilds

Pic: Teekay

International midstream services provider, Teekay Offshore Partners announced that it has secured a new $414 million long-term debt facility that will be used to finance four LNG-fueled Suezmax DP2 shuttle tanker newbuildings.Upon delivery in 2019 and 2020, two of the vessels will commence operations under the Partnership’s Master Agreement with Equinor, while the remaining two vessels will join the Partnership’s contract of affreightment (CoA) shuttle tanker portfolio in the North Sea…

04 Apr 2019

Liebherr Turnover Tops $11 Billion

Growth for the mobile harbour crane range: The new LPS 420 E is a purely electric gantry crane and operates completely emissions-free (Photo: Liebherr)

The Liebherr Group notched up a company record turnover of $11.8 million in 2018, representing an increase of $828 million, or 7.5 %, compared with the previous year.Despite a slight decline in overall economic growth, revenues from construction machinery and mining equipment rose by 10.8 % to $7,761 million, with especially strong contributions from the Earthmoving, Mobile Cranes and Mining divisions. In the other product areas, which include Maritime Cranes, Aerospace and Transportation Systems…

04 Apr 2019

IMO Rules to Cause Marine Gasoil Deficit in 2020 - Rystad

* The upcoming International Maritime Organization sulphur regulations for marine fuel will lead to a deficit of 600,000 barrel per day of marine gasoil in 2020, according to consultancy Rystad Energy.* "We estimate that global gasoil/diesel demand growth in 2020 could reach 1.7 mln bpd, 1.4 million bpd of which is from marine bunkers, almost six times the five-year average global gasoil growth," said Bjørnar Tonhaugen, head of oil market research.* The IMO has restricted sulphur content in marine fuels to a maximum of 0.5 percent, down from 3.5 percent now, from the start of 2020. (Reuters, Reporting by Ahmad Ghaddar Editing by Alexandra Hudson)

04 Apr 2019

Yara Marine's MARPOL Test Successful

Image: Yara Marine Technologies AS/ Meyer Werft

Norway-based emissions control technology company Yara Marine Technologies announced the successful installation of an inline hybrid scrubber system for an undisclosed customer in the ultra-large container segment."This is the biggest ship engine ever to be successfully fitted with an inline hybrid scrubber system," said a press release from the company that offers a complete SOx and NOx product portfolio to the marine segment.The project marks an important milestone in expanding areas where shipowners can achieve full and cost-efficient IMO compliance with SOx scrubbers.

04 Apr 2019

Equinor Awards FEED Contract to Deltamarin

CO2 capture - credit Equinor

Deltamarin Oy, the provider of ship design, offshore engineering, and construction services for marine and offshore industries worldwide, has signed a contract to support the energy majors in LCO2 vessel design and environmental optimisation.The contract is a part of the Carbon Capture and Storage (CCS) project led by Equinor and partners Shell and Total, Deltamarin, said a press release.CCS will be an essential part of reducing carbon emissions and reaching global climate targets.The…

04 Apr 2019

OOIL, JD, Cosco JV for Logistics

Image: Orient Overseas (International) Limited

Gold Talent, Cosco Shipping Logistics and JD Logistics  entered into a cooperation agreement to jointly invest in online logistics platform EShipping through a joint venture (JV) formation.Gold Talent is a wholly-owned subsidiary of Hong Kong-based logistics major Orient Overseas (International) Limited (OOIL). Cosco Shipping Logistics is an affiliate of Chinese state-owned Shipping and logistics services supplier company China Cosco Shipping Corporation Limited. JD Logistics…

04 Apr 2019

Swedish Bank to Finance Star Bulk

Pic: Star Bulk Carriers

Swedish financial group Skandinaviska Enskilda Banken AB (SEB) is providing US$71.42m term facility to Star Bulk Carriers for the refinancing of two Newcastlemax-size bulk carriers. Watson Farley & Williams (WFW) is the advisor for the deal.The London based international law firm said that the deal also involved partly financing the prospective capital expense for the retrofitting of the ships with scrubbers, ahead of the entry into force of the 2020 IMO regulations.The two ships…

03 Apr 2019

ECSA Workshop on IMO GHG Strategy

Pic: European Community Shipowners’ Associations

The European Community Shipowners’ Associations (ECSA) organised a workshop on the practical implementation of measures to reduce Greenhouse Gas emissions, attended by representatives of the European Commission, the European Maritime Safety Agency, the Member States, as well as industry stakeholders and environmental organisations.The focus was on the opportunities and challenges of reducing the shipping industry’s carbon footprint. The speakers presented concrete initiatives in alternative propulsion technology…

03 Apr 2019

ABS: Tech, Safety Drive Shipping Leadership

Photo courtesy of ABS

ABS Chairman, President and CEO Christopher J. Wiernicki spoke about the important role of the U.S. continuing to shape the future of global maritime energy, safety and sustainability during a keynote address at the opening session of the CMA Shipping 2019 Conference.“The U.S. energy landscape has been and will continue to be shaped by a relentless focus on improving technology and safety. When we speak about shaping the future of maritime energy use, we are really speaking about technology and safety driving energy leadership,” Wiernicki told attendees.

02 Apr 2019

Contship Italia Sells Gioia Tauro

Image: Medcenter Container Terminal

Contship Italia SpA has sold its 50 percent share in the southern Italian port of Gioia Tauro, which includes the Medcenter Container Terminal (MCT).A press release said: "Contship, a fully controlled subsidiary of Terminal Investment Ltd (TIL) have executed a share purchase agreement concerning the sale of 50% of CSM Italia Gate S.p.A., the company which owns 100% of MCT."MCT is the concessionaire of the container terminal activities in the port of Gioia Tauro and TIL already owned 50% of CSM Italia Gate S.p.A.The parties involved are not disclosing terms.

02 Apr 2019

Kongsberg Buys Rolls-Royce Marine

Photo: Kongsberg

Norwegian technology group Kongsberg Gruppen announced that it has completed its acquisition of Rolls-Royce Commercial Marine (RRCM), with the European Commission's approval.Kongsberg Gruppen announced its intention to acquire RRCM, an established and trusted global supplier of maritime technology and engineering products, in July 2018.With the unification of Kongsberg Maritime and RRCM, Kongsberg is represented in 40 countries, has more than 11,000 employees and an annual turnover of more than NOK 22 billion.

02 Apr 2019

NOPB, Port NOLA Secure EPA Grant

Image: New Orleans Public Belt Railroad (NOPB)

The Port of New Orleans and project partner, the New Orleans Public Belt Railroad (NOPB), were awarded a National Clean Diesel Funding grant from the United States Environmental Protection Agency.The EPA grant will provide 40% of total project cost, allowing NOPB to retrofit the engine of a conventional diesel locomotive to a cleaner engine with low emissions beyond current requirements. This will be the first locomotive of its kind in the New Orleans gateway.This eco-locomotive…

01 Apr 2019

Total Buys 25% Stake in Ecoslops

Pic:Ecoslops

French multinational integrated oil and gas company Total S.A. has signed an agreement with Ecoslops S.A. that gives the oil major a 25% interest in its affiliate Ecoslops Provence.Ecoslops Provence is building a unit to regenerate oil residues at Total’s La Mède complex. The new facility is scheduled to come on stream in late 2019.Total is providing Ecoslops Provence with access to existing infrastructure and the services and utilities the unit needs to operate.“Thanks to our partnership with Total…

01 Apr 2019

CNCo Acquires of Hamburg Süd Units

Pic: Hamburg Süd

German container shipping line Hamburg Süd and The China Navigation Company (CNCo) have completed the sale of Hamburg Süd’s dry bulk shipping business to CNCo after receiving regulatory approval.Earlier in January, Hamburg Süd announced that it is selling its bulk shipping business, which includes Rudolf A. Oetker (RAO) and the bulk activities in Furness Withy (London and Melbourne) and Aliança Navegação e Logística,  to Singapore’s CNCo, part of the Swire Group,  as it focusses on its liner business with its two container shipping brands…

01 Apr 2019

Scorpio Bulkers Borrows to Fit Scrubbers

Pic: Scorpio Bulkers Inc.

Scorpio Bulkers, a shipping company that owns and operates dry bulk carriers worldwide, announced that it has reached agreements with certain lenders to to increase certain existing credit facilities by a total of $41 million.The Monaco-based dry bulk shipping company said in a press release that the agreement in order to finance the installation of exhaust gas cleaning systems (scrubbers) on certain of its vessels.The additional amounts will be drawn upon the installation of the scrubbers on these vessels, and are structured as upsizings of existing credit facilities.

01 Apr 2019

Maintenance Dredging at Port of Cape Town

Photo: TNPA

Transnet National Ports Authority (TNPA)’s Dredging Services division will soon embark on a maintenance dredging campaign at the Port of Cape Town to restore the design depths at certain berths inside Duncan Dock.The maintenance campaign, which is set to start in early April 2019, is scheduled for completion by the end of May 2019. The main objective of the dredging campaign is to ensure the Port of Cape Town provides safe navigational channels and berthing facilities for shipping.TNPA…

01 Apr 2019

USCG Rescues 7 and Dog Near Haines, Alaska

Photo by Petty Officer 1st Class Nate Littlejohn

The Coast Guard rescued seven people and a dog stranded on a sandbar after a their boat capsized in the Chilkat River near Haines, Saturday.An MH-60 Jayhawk helicopter crew from Air Station Sitka landed on the sandbar approximately 7 miles northwest of Haines, picked up the survivors and brought them to the Haines Airport where they were placed in the care of Haines EMS shortly after midnight.Watchstanders in the Coast Guard 17th District command center in Juneau received the request for helicopter support from the Alaska State Troopers at about 10 p.m.

01 Apr 2019

USCG Warns of Tar Balls, Oil Sheen Off Rockaways

Photo: U.S. Coast Guard

The U.S. Coast Guard (USCG) is warning people in the waters off the Rockaways to stay away from any tar balls or oil sheens they might see and is investigating to see if they're related to an oil leak from a vessel a few days ago.USCG, along with partner agencies, are responding to reports of oil sheen and tar balls, on the ocean side of Coney Island and Long Island, from Norton Point to Atlantic Beach.Members of the Unified Command for Goethals Oil Spill continue responding to…

31 Mar 2019

K Line Gets $406M Loan

Pic: K Line Europe

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has decided to raise JPY 45 billion (USD 406 million) through a new subordinate loan.According to a stock exchange annoucement, the loan proceeds will be used for the repayment of interest-bearing debts and capital expenditures mainly for vessels.The loan, valid from April 2019 through March 2054, has been agreed with lenders including Mizuho Bank, Development Bank of Japan and Sumitomo Mitsui Trust Bank."In addition to the business structural reforms set forth in the announcement dated March 7…

31 Mar 2019

COSCO Signs LSFO Supply Deal with Petro China

Pic: COSCO Shipping Lines

Chinese state-owned Shipping and logistics services supplier company COSCO Shipping Lines has signed a low sulfur fuel oil (LSFO) supply agreement with Double Rich Limited, a subsidiary of China Marine Bunker (Petro China).According to the agreement, Double Rich limited will provide the Shipping line with ‘fuel oil with sulphur content not exceeding 0.5% m/m’ conforming to the regulation of International Maritime Organization (IMO).By keeping promoting and applying diverse and advanced emission reduction technology and optimizing management pattern…

31 Mar 2019

Visser Shipping Installs Scrubber in Boxships

Douwe and Aleida Visser, owners of Visser Shipping. Photo: Visser Shipping

Netherlands-based Visser Shipping has signed a contract with exhaust gas cleaning system (EGCS) supplier Value Maritime to outfit three container ships with scrubbers, with an option for a fourth scrubber.In 1995 Visser Shipping bought their first seagoing vessel, followed by their first container ship in 2002. The fleet provides container transport throughout Northwest Europe. Thanks to inventive entrepreneurship, the Shipping company continued to enjoy growth even during the crisis years. The fleet consists of 5 modern container ships.“Sailing is our passion.

Maritime Reporter Magazine Cover Apr 2019 - Navies of the World

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