Maritime Law & Regulations News

15 Dec 2019

Blount Boats Joins Green Marine

 Image:  Blount Boats

US-based commercial boat builders Blount Boats & Shipyard has become the eighth shipbuilder to join Green Marine, a voluntary environmental certification program for North America’s maritime industry.“We’re already committed to delivering vessels that exceed our clients’ expectations and now wish to go beyond compliance in our work in terms of the environment as well,” said Marcia Blount, the company’s president.“The Green Marine framework is tailor made for the marine industry and scalable to our size of operations.

15 Dec 2019

India to Boost Indigenous Shipbuilding

Mansukh L. Mandaviya, Minister of State for Shipping (Independent Charge). Photo: PIB

Government of India has approved New Shipbuilding Financial Assistance policy for Indian shipyards for shipbuilding contracts up to 2026  to promote shipbuilding in Indian shipyards.Financial assistance is being granted to Indian Shipyards equal to 20% of the lower of “Contract Price” or the “Fair Price” or actual payments received of each vessel built by them for a period of at least 10 years commencing 2016-17. This rate of 20% will be reduced by 3% every three years.Minister of State for Shipping Mansukh Mandaviya informed that only those vessels…

15 Dec 2019

MHI Mulls Selling Flagship Shipyard

Image: Mitsubishi Heavy Industries

According to a report in JIJI Press, Mitsubishi Heavy Industries  is considering selling one of its largest shipbuilding plants in Japan to reduce costs.According to the report , the Japanese conglomerate is weighing the sale of the Koyagi plant in the southwestern city of Nagasaki to Oshima Shipbuilding Co., the third biggest shipbuilder in the country.With the sale, Mitsubishi Heavy would effectively withdraw from construction of large vessels carrying resources such as liquefied natural gas.

13 Dec 2019

Most NY Waterway Ferries Back in Service

@ jjfarquitectos / Adobe Stock

The majority of NY Waterway ferries taken out of service for safety violations last month have returned to regular operations, the U.S. Coast Guard said.On November 24, the Coast Guard revealed that Sector New York marine inspectors determined that 23 of NY Waterway's 32 ferries had damage or discrepancies significant enough to warrant a suspension of service. Findings included inoperable fixed fire extinguishing systems and bilge alarms; expired lifesaving equipment; and structural damage affecting watertight integrity.As of December 12…

13 Dec 2019

Pirates Release Kidnapped Tanker Crew off Togo

The M/V ELKA ARISTOTLE (Credit: © MarineTraffic.com)

Pirates have released three crew taken hostage from a Greek oil tanker off the coast of the West African country of Togo in November, the vessel's manager said on Friday.A fourth hostage, a Filipino, died from illness during captivity, European Products Carriers Ltd added.It did not give details of the release.The tanker, Elka Aristotle, was attacked on Nov. 4 about 18 km (11 miles) from the port of Lome.

12 Dec 2019

U.S., China Reach Trade Deal 'in principle'

AdobeStock / © rawf8

The White House has reached a "deal in principle" with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks.The White House was expected to make an announcement later on Thursday, the source said."The written agreement is still being formulated, but they have reached an agreement in principle," the source said. No details were immediately available.In an attempt to secure a "phase one" trade deal, U.S. negotiators offered to cut…

12 Dec 2019

Unified Command Established for Grounded F/V

Photo by Petty Officer 3rd Class Isaac Cross, 
U.S. Coast Guard District 5 North

A Unified Command was established on Wednesday afternoon to oversee the safe removal of fishing vessel Sea Angels, which ran aground in the vicinity of Browns Inlet, North Carolina.On Dec. 9, 2019, fishing vessel Sea Angels ran aground near a restricted navigation area in Browns Inlet, where the potential of unexploded military ordnance exists due to active live fire training in the area dating back to World War II.There is an estimated 15,000 gallons of diesel fuel onboard the fishing vessel…

11 Dec 2019

SAL Intros New Emission Reduction System

Image: SAL Heavy Lift

SAL Heavy Lift, a global carrier specialized in sea transport of heavy lift and project cargo, said that it has become the first shipping company in the world to introduce hydrogen/methanol emission reduction technology to its fleet.The Harren & Partner Group company said in a press release that with significant emission reductions in terms of CO2, SOx, NOx and other particles, the injection technology developed by FUELSAVE GmbH paves the way for making shipping greener and more energy efficient.After more than four years of close cooperation…

11 Dec 2019

ABS Publishes Fuel Cell Guidance

Image: ABS

ABS published its Guide for Fuel Cell Power Systems for Marine and Offshore Applications to support the design, evaluation, and construction of fuel cell systems on vessels and offshore assets.“As technology evolves and regulators challenge shipping to decarbonize, fuel cells are increasingly seen as having an important role to play in meeting that challenge,” said Gareth Burton, ABS Vice President, Technology. “ABS has in-depth experience in assisting vessel owners and operators in low carbon emission options.

11 Dec 2019

Navis Acquires Jade Logistics

Image: Navis

Cargotec division Navis has signed an agreement to acquire the assets of New Zealand-based Jade Logistics.Jade Logistics provides Master terminal operating systems (TOS) for mixed cargo terminals.With N4, Octopi and Jade Master Terminal, Navis can offer the flexibility of the right TOS for any prospective customer’s cargo requirements. Navis will establish a General Cargo Center of Excellence in Christchurch, New Zealand to serve the growing demand for mixed cargo solutions globally.

11 Dec 2019

Chinese Tanker Spurns Malaysian Inspections

An oil tanker, which shipping data showed was managed by a Chinese company under U.S. sanctions, refused to allow an inspection by maritime authorities while anchored in Malaysian waters, Malaysia's maritime agency said.Silvana III's commercial manager is Kunlun Shipping Co Ltd, according to shipping transparency website Equasis.org.Kunlun is one of several firms placed under U.S. sanctions this year for alleged involvement in transporting oil from Iran.The Malaysian Maritime Enforcement Agency (MMEA) said the Silvana III, which anchored off Kuala Kurau on Malaysia's west coast on Dec. 5, did not follow instructions to drop its ladder to allow officers to conduct checks."After several attempts to instruct the ship to drop ladder were not heeded…

11 Dec 2019

Nautilus Labs, Inmarsat Sign Agreement

Logo: Nautilus Labs

Nautilus Labs and Inmarsat have signed an agreement for Nautilus Labs to provide Inmarsat’s Fleet Data service.Nautilus Labs will use the Fleet Data API (Application Programming Interface) to help automate data collection as part of Nautilus Platform, a proprietary, fleet optimization UI (user interface) that provides shipping owners and operators with predictive analytics to reduce fuel consumption, allow for better decisioning, and meet international and local environmental standards - all in real time.Developed by Inmarsat and made commercially available earlier this year…

11 Dec 2019

Launch Partners Ready for Iridium's GMDSS

The Lars Thrane LT-3100S GMDSS terminal built for the Iridium network, planned for 2020. (Photo: Iridium)

Iridium Communications announced the first seven companies it has authorized to provide its Global Maritime Distress and Safety System (GMDSS) services, planned for commercial introduction in the first half of 2020. The seven companies, Arion Communications, AST, Marlink, Marsat, NSSLGlobal, Satcom Global and Speedcast will be the first in the industry to provide truly global satellite GMDSS service to mariners, and the first to offer a new choice in satellite network and equipment.

11 Dec 2019

VIKING Acquires Drew Marine's FSR Division

Photo courtesy of VIKING

VIKING has acquired Drew Marine’s Fire Safety and Rescue (FSR) division.VIKING increases its global volume, reach and technical competencies for marine firefighting equipment services (MFS).At the moment, Drew Marine FSR provides services in more than 150 ports across 45 countries. The division offers a complete range of FSR services, specializing in solutions for fixed-firefighting foam, fixed-extinguishing and dry-powder systems – along with calibration solutions for gas detection, medical oxygen, and dry-docking services.

10 Dec 2019

SGRE Raises $1.6Bln in ‘Green’ Credit

Image: Siemens Gamesa Renewable Energy

Siemens Gamesa Renewable Energy (SGRE) has announced that, in less than a year, it has accumulated €1.48 billion ($1.6Bln) in green guarantee lines.The turbine maker has just completed a deal with Societe Generale to convert a 230 million euro guarantee line to "green”. This is the third green guarantee line that Siemens Gamesa has arranged so far this year, in addition to 1.25 billion euro arranged with two other banks.Siemens Gamesa will use this line for its worldwide business…

10 Dec 2019

Equinor Acquires 50% Stake in Polish OWP

Map: Equinor

The Norwegian oil and gas major Equinor ASA said it has completed the purchase of a 50% stake in the Baltyk I offshore wind project (OWP) in Poland from Polenergia.The Bałtyk 1 offshore location license allows for a development of a wind farm with a capacity up to 1560MW. Equinor will own up to 780MW.Norwegian company now has an interest in all three Bałtyk offshore wind development projects (MFW Bałtyk III, MFW Bałtyk II i MFW Bałtyk I.).The acquisition of Baltyk I strengthens our presence in the Baltic Sea area.

10 Dec 2019

New Formed Advanced Systems Group Appoints Dibkey

Brett Dibkey President – Advanced Systems Group

Brunswick Corporation today announced the formation of its Advanced Systems Group and appointed Brett Dibkey President – Advanced Systems Group. The new appointment is effective on January 1, 2020. The Advanced Systems Group consists of the 11 leading Power Products brands from the acquisition completed in August of 2018 in addition to the Attwood Group of businesses with its industry-leading brands, including Attwood, Garelick, MotorGuide, and Whale - all supported by a comprehensive, industry-leading systems design and integration capability.

09 Dec 2019

CSSC, DNV GL Deal for Futuristic Shipping

The strategic cooperation agreement was signed by Qian Jianping, Vice President of CSSC, and Norbert Kray, Regional Manager for Greater China at DNV GL – Maritime. Photo: DNV GL

The largest shipbuilding group in the world, China State Shipbuilding Corporation (CSSC), has entered into a new strategic partnership with DNV GL, the international accredited registrar and classification society headquartered in Høvik, Norway.A framework agreement between both parties was signed by Qian Jianping, Vice President of CSSC, and Norbert Kray, Regional Manager for Greater China at DNV GL – Maritime. The ceremony was witnessed by Remi Eriksen, Group President & CEO of DNV GL…

09 Dec 2019

WiseTech Global Acquires Ready Korea

Image: WiseTech Global

Global logistics software group, WiseTech Global has announced the acquisition of Ready Korea, a customs, bonded warehouse and trade compliance solutions provider in South Korea.Headquartered in Seoul, Ready Korea offers a cross-border compliance solution, which facilitates the lodgement of electronic transactions to the Korean Customs Service, including customs brokerage and refunds and Free Trade Agreement verification, along with bonded warehouse management.Ready Korea also…

09 Dec 2019

Rolls-Royce, RAL Collaborate on LNG Pushboat

DNV-GL issued an Approval In Principle to Robert Allen Ltd for its shallow-draft pushboat design developed in conjunction with Rolls-Royce, featuring MTU gas engines from Rolls-Royce. (Photo: Rolls-Royce)

Rolls-Royce and Canadian vessel designers Robert Allan have developed the world's first shallow-water push boat powered by LNG natural gas engines. DNV GL gave its “Approval in Principle” to the new design at the International Workboat Show in New Orleans. “The interest of the market regarding the design study of Robert Allan and Rolls-Royce confirms that the decision was right to develop a lean-burn gas engine. We have found operators across the globe who have seen the benefits of operational costs in addition to the reduction of environmental impact…

09 Dec 2019

Maritime Schools Must Prep for Offshore Wind Jobs

Gabriele Rohde/Adobe Stock

The offshore wind industry in the United States is growing exponentially, with multiple projects in the development stages off of the Atlantic coast. The total megawatt capacity of U.S. offshore wind farms is anticipated to reach 22,000 by 2030 and 43,000 by 2050. To support this growth, U.S. Department of Energy reports estimate over 40,000 new jobs will be created by 2030.The new jobs anticipated to support the offshore wind industry include a wide range of types, including engineers, trade workers, surveyors, scientists, technicians, managers, and seafarers.

08 Dec 2019

Gothenburg Port to be Fossil Free in 2020

Image: APM Terminals Gothenburg

Swedish container facility Port of Gothenburg is aiming to be a fossil free terminal by 2020, said its owner-operator Danish-owned APM Terminals.APM Terminals Gothenburg  launched environmental strategy  “Green Gothenburg Gateway”  which sees its terminal in the port aiming to become fossil-fuel free next year.Gothenburg Gateway is to accelerate the development of Sweden’s goods transports, having identified the need for Sweden to keep pace as global goods transports grow in scale…

05 Dec 2019

Jan De Nul Cuts CO2 in Dredging Work

Image: Jan De Nul Group

Jan De Nul Group, the international  dredging company, said that the maintenance dredging works in the marinas of Nieuwpoort on the Belgian coast got underway.“What makes this project so unique, are the CO2-reducing measures taken by Jan De Nul Group. An example for the industry and future dredging works in Europe,” said a press release from the company. "Its an example for the industry and future dredging works in Europe."The maintenance dredging works in Nieuwpoort entail the dredging works in the port access channel and in the marinas.

05 Dec 2019

Tankers Running on Fumes as Shipping Fuel Switch Causes Delays

© Suriyapong / Adobe Stock

Disruption to shipping from the long-anticipated switch to more environmentally friendly marine fuels has finally arrived, exacerbated by logistical problems as much as any shortage of the cleaner fuel.New International Maritime Organization (IMO) rules, referred to as IMO 2020, aim to stop ships from using fuels containing more than 0.5% sulphur unless they are equipped with exhaust-cleaning systems known as scrubbers.From the start of January ships must load very low sulphur…

04 Dec 2019

NYK Joins DecarbonICE Project

Image: NYK Line

Japanese shipping giant Nippon Yusen Kaisha (NYK Line) has joined the international DecarbonICE project that will be conducting a feasibility study to capture onboard carbon as dry ice and store it in seafloor sediments.The shipping industry is looking for carbon-free solutions to achieve the IMO 2050 target of a 50% CO2 emissions reduction (compared to the 2008 level). In response, new zero-carbon solutions are being developed around the globe, including alternative low-carbon…

04 Dec 2019

Total, MOL Charter LNG Bunker Vessel

Navire avitailleur GNL 3D LNG bunkering vessel (Photo: Total)

Total Marine Fuels Global Solutions (TMFGS) and , Ltd. (MOL) have signed a long-term charter contract for a second large LNG bunker vessel, to be delivered in 2021. She will be positioned in the Marseille-Fos area in France.This bunker vessel will be built by Hudong-Zhonghua Shipbuilding in China. She will have a capacity of 18,600 m³ for a length of about 135 meters and will be fitted with the Mark III membrane containment system provided by French company GTT.This vessel has been specifically designed to supply LNG bunker in the Mediterranean area to a wide range of vessels…

03 Dec 2019

Unifeeder Acquires Feedertech

Jesper Kristensen. Image courtesy: Unifeeder A/S

Denmark’s Short-sea operator Unifeeder , part of the global port operator DP World, has acquired a 77% stake in The Feedertech Group, a Singapore-based feeder and shortsea operator.The Group’s Chairman, Ali Maghami, will retain the remaining 23% shareholding.Established in 2003, the Group operates two companies; Feedertech, which is a feedering service and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia-Middle…

03 Dec 2019

CMA CGM Initiates Global Energy Coalition

Photo: CMA CGM

Rodolphe Saadé, Chairman and Chief Executive Officer of the French container transportation and shipping company CMA CGM Group recommended that French President Emmanuel Macron initiate an international coalition for the energy transition of the transportation sector whose priority will be to develop a more competitive and less carbon-intensive energy source.Rodolphe Saadé stressed the need to improve the cooperation of all those working on near-term solutions to replace fossil fuels in the transportation and logistics sectors.The French President accepted to actively support this initiative…

02 Dec 2019

Japanese Shipbuilding Giants to Merge

Image:  Japan Marine United Corporation

Japan's biggest shipbuilders Imabari Shipbuilding and Japan Marine United (JMU) have formalized their business alliance by agreeing to enter into a capital tie-up amid blockbuster mergers in South Korea and China.According to Jiji Press, with the alliance, the shipbuilders aim to strengthen their international competitiveness at a time when South Korean and Chinese rivals are going through major realignment to grow stronger.Under the basic deal Imabari Shipbuilding plans to buy a nearly 30 pct stake in JMU via a shares purchase.

02 Dec 2019

Singapore Raises Concern over HHI-DSME Deal

Image: CCCS

The Competition and Consumer Commission of Singapore (CCCS) has expressed concern about the agreement of fusion notified from the South Korean shipbuilding groups Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering Co. (DSME).The authority antitrust of Singapore has raised competition concerns with the proposed acquisition by Korea Shipbuilding & Offshore Engineering Co., Ltd. (KSOE) of a majority interest in DSME and the intended integration of the businesses of KSOE and DSME.Earlier…

02 Dec 2019

Volvo Penta Powers Hybrid Scandinavian Ferries

Photo: Volvo Penta

Volvo Penta to power three hybrid and hybrid-ready ferries currently being built at GS Marine Production AS. GS Marine is currently building a new ferry for Faroe Island operator, Standfaraskip Landsins. This ferry will have a speed of 20 knots and be powered by two of Volvo Penta’s engines. The D13-700 IMO III engines have a power output of 515kW at 2,250 rpm and will be coupled with a Brunvoll hybrid control system – allowing the vessel to run on the engines or electric alone, and even both in unison.

02 Dec 2019

Diana Shipping Posts $1.8M Q3 Net Income

Diana Shipping reported net income of $1.8 million and net income attributed to common stockholders of $3 million for the third quarter of 2019. This compares to net income of $14.8 million and net income attributed to common stockholders of $13.3 million reported in the third quarter of 2018.Time charter revenues were $53.5 million for the third quarter of 2019, compared to $61.5 million for the same period of 2018. The decrease in time charter revenues was mainly due to decreased revenues due to the sale of two vessels in December 2018 and five vessels during the nine months ended September 30, 2019 and decreased average time charter rates that the company achieved for its vessels during the quarter.Net income for the nine months ended September 30…

02 Dec 2019

Wärtsilä and Silverstream to Collaborate

Technology group Wärtsilä, and Silverstream Technologies announced the signing of a Licence and Co-operation Agreement for future sales and servicing of the Silverstream System. As an authorized sales and service partner, Wärtsilä intends to fully integrate Silverstream’s air lubrication system within its propulsion solutions.By offering the Silverstream System as an integral part of Wärtsilä’s propulsion solution for newbuild vessels, compliance with the Energy Efficiency Design Index (EEDI) will be further improved. Under the agreement, the Silverstream System will also be available through Wärtsilä’s sales channels for retrofit installations on existing vessels where Wärtsilä is a primary solution provider.

02 Dec 2019

REGULATORY REVIEW: Subchapter M

Image Credit: (Captain) Pat Folan

One Year In: Industry SME (Captain) Pat Folan weighs in from the front lines.It has been an interesting year for towing industry. As the new Subchapter M towboat rule rolled out, it didn’t take long to discover that the regulation wasn’t perfect. As stakeholders look ahead to what comes next, it is also helpful to take a look back at what went right, what didn’t, and more importantly – why.The U.S. Coast GuardThe US Coast Guard does not have the manpower to add more than 5,000 vessels to its workload.

02 Dec 2019

Fuel Market Calm ahead of IMO Changeover

AdobeStock / © 14KT Gold

Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years.From the start of 2020, ocean-going ships will be required to use low-sulphur fuels or employ exhaust gas cleaning systems, known has scrubbers, under pollution control rules approved by the International Maritime Organization (IMO).Fuel traders and shipowners have warned for several…

29 Nov 2019

German Shipping to Use LSFO

Ralf Nagel, Chief Executive Officer. Photo: VDR

The vast majority of ships in the German fleet will run on the new sulfur-reduced fuel (Low Sulfur Fuel Oil, LSFO) from 1 January at the latest. This is one of the findings of a survey conducted by the German Shipowners’ Association (Verband Deutscher Reeder, VDR) among its member companies.While the body of data obtained through the survey is not representative of the German shipping industry as a whole, it does reflect views that can certainly be extrapolated since the respondents include shipping companies from every sector of the German shipping industry.

29 Nov 2019

DecarbonICE Project for Green Shipping

Pic: Maritime Development Center

A group of world leading shipping companies including NYK, Sovcomflot, Knutsen OAS and Ardmore, ship builders, including DSME and the mining company Vale, have therefore teamed up with Denmark based Maritime Development Center to develop such an on-board carbon capture and storage solution in a project named decarbonICE.DecarbonICE is based on two new main ideas for the capture and storage part, respectively. The CO2 and other GHG's in the ship exhaust are captured on board in…

29 Nov 2019

NYK Line Wins First Sustainability Loan in Japan

Pic: NYK Line

The Japanese shipping giant NYK Line has secured a syndicated sustainability-linked loan from MUFG Bank Ltd. This is Japan's first advanced loan that allows for conditions such as the loan’s interest rate to be adjusted according to the borrower’s CSR performance.This loan encourages sustainable economic activities and growth by linking loan pricing to company performance, which is determined by the score provided by CDP (Carbon Disclosure Project) annually.As long as high CDP ratings are maintained…

28 Nov 2019

Jongen Deploys Damen's Mobile BWTS

Image: Damen Shipyards Group

German maritime waste specialist Jongen GmbH has taken delivery of a Damen InvaSave 300 mobile ballast water treatment system (BWTS), which will protect the Elbe from invasive Species.Jongen can now offer IMO-certified ballast water treatment services to ship operators needing to comply with the latest ballast water regulations that came into effect on 8 September 2019.Jongen GmbH delivers waste oil, waste water, and the waste removal services for maritime traffic in the Port of Hamburg.

28 Nov 2019

Nordic Ports Unite for Sustainable Transport

The Port of Gothenburg is actively participating in several collaborations to both share and acquire new knowledge about how ports can best work with climate- and environmental issues. Photo: Gothenburg Port Authority.

In a signed declaration, the Nordic ports have agreed to cooperate, exchange information and share approaches in a number of areas relating to the environment and climate. The Port of Gothenburg has joined a collaboration with ten other Nordic ports. IBy connecting land and sea – and by being connecting nodes of global trade and world economy – ports play a vital role in contributing to e.g. UN’s Global Sustainability Goals (SDGs) and creating a sustainable future in line with the Paris Agreement.Therefore…

28 Nov 2019

Belgian Shipowners Hails Indian Accession to HKC

Pic: Royal Belgian Shipowners' Association

Royal Belgian Shipowners' Association (RBSA) welcome the accession by the Government of India to the Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, also known as the HKC.Yesterday (November 28), India became the 15th Party State to the HKC, fulfilling at once one of the three criteria for the Convention’s entry into force.It is another significant step towards achieving more safe and environmentally sound ship recycling globally, as India…

28 Nov 2019

India Accedes to Ship Recycling Convention

Gopal Krishna, Secretary to the Government of India, Ministry of Shipping and Amitabh Kumar, India's Director General of Shipping, deposited the instrument of accession to the Hong Kong Convention with IMO Secretary-General Kitack Lim yesterday (28 November) during the thirty-first session of the IMO Assembly. Photo: IMO

India, one of the world's five major ship recycling countries, has acceded to the IMO Hong Kong Convention, the treaty that will set global standards for safe and environmentally-sound ship recycling.India's accession brings this important convention a significant step closer to entering into force, with the required 15 States now party to it and with India's ship recycling volume considerably contributing to the required recycling capacity.The Hong Kong Convention1 covers the design…

27 Nov 2019

Orsted Raises $660m Green Finance

Image: Ørsted

Denmark-based energy giant successfully issued green hybrid capital securities for €600m ($660m) to refinance existing securities issued in 2015.The latest issue will have a maturity in 3019 and first call option after eight years, the Danish energy company said.Investments undertaken by Ørsted A/S in green renewable energy projects will be allocated to the new issue corresponding to the amount issued in accordance with Ørsted’s Green Finance Framework, which has received a second opinion with a Dark Green shading from Cicero.Ørsted A/S is rated Baa1…

27 Nov 2019

Viet Nam Readies for Oil Spill Contingency

Pic: International Maritime Organization (IMO)

Work is underway to further develop Viet Nam’s national oil spill contingency plan at a workshop in Ho Chi Minh City, Viet Nam, this week (26-29 November).Forty participants from across 10 government departments and the oil and gas and shipping industry are taking part in the workshop, which is the latest in a series of International Maritime Organization (IMO)-assisted events on oil spill contingency in South-East Asia.Participants are being introduced to international good practices…

27 Nov 2019

U.S. Assures Banks on COSCO Shipping Sanction Rules

AdobeStock / © Jose Gill

The Trump administration assured U.S. banks on Wednesday that they can temporarily process U.S. dollar transactions on Chinese shipping companies it had previously sanctioned for allegedly transporting oil from Iran, in a move meant to blunt the impact of the sanctions on global shipping markets.The administration slapped sanctions on Sept 25 on Dalian units of Chinese shipping company COSCO, a move that pushed global freight costs to record highs. The Treasury Department's Office of Foreign Assets Control, or OFAC, said in the guidance on Wednesday it "would not expect the intermediary U.S.

27 Nov 2019

"Narcosubmarine" a First for Europe -Spanish Officials

© jmubalde / Adobe Stock

The discovery of a submarine carrying 3,000 kg (3.3 tons) of cocaine off the coast of Spain marks a "historic" turning point in the battle against drug trafficking, Spanish authorities said on Wednesday.Police described it as the first "narcosubmarine" to be intercepted in Europe, adding in a statement that it had been found in waters off the northwestern region of Galicia on Saturday, stuffed with 152 neatly-wrapped bales of cocaine.The estimated street value of the drugs is 100 million euros ($110.22 million)…

26 Nov 2019

BIMCO: Dry Bulk Shipping Outlook

Source: BIMCO, Clarksons

Freight rates down from multi-year highs as the market fundamentals make themselves felt.The fundamental balance in the market has worsened in 2019 with supply growth outstripping demand, and BIMCO expects that this will continue into 2020.Demand drivers and freight ratesAfter peaking in September, the fundamentals of the market have begun to drag on freight rates – although the rates remain above the average experienced so far this year, buoyed by a handful of positive developments during Q3.For only the third time this year…

27 Nov 2019

Four Dead, 16 Missing after Failed Med Crossing

Four migrants have died and up to 16 more are missing after trying to cross into Europe from North Africa on a small raft, Spain's coastguard said on Wednesday.Rescuers saved 58 people from the raft, which was found drifting around 37 miles off the coast of Morocco on Tuesday night. Three bodies were recovered from the water and another migrant died after being taken to shore, a spokeswoman for the coastguard said.Sea-borne migration to Europe has dropped sharply since peaking in 2015 but thousands still attempt the dangerous Mediterranean crossing every year, looking to escape poverty and conflict in their home countries.The latest group was brought to Spain's North African enclave of Melilla…

26 Nov 2019

China Establishes World's Largest Shipbuilding Group

© Angelika Bentin / Adobe Stock

China on Tuesday formally established China Shipbuilding Group, which the country's government-run broadcaster described as the world's largest shipbuilder.The group's establishment, reported by China Central Television (CCTV), comes after Beijing last month approved the merger of the country's two largest shipbuilders, China State Shipbuilding Corp and China Shipbuilding Industry Co.The group has 147 research institutes, business units and listed firms, as well as total assets of 790 billion yuan ($112 billion) and 310,000 workers, CCTV said.

26 Nov 2019

Boskalis Completes Horizon Acquisition

Image: Royal Boskalis Westminster

Dutch dredging and heavylift company Royal Boskalis Westminster has acquired the remaining 37.5% in the United Arab Emirates’s Horizon Group, a company specializing in the provision of marine geophysical surveys and geotechnical services.Earlier this year, Boskalis already acquired 62.5% of the shares. The 2019 revenue is expected to exceed USD 100 million and the activities will be consolidated as of 2020.Following this transaction, Boskalis will be able to optimize its successful…

25 Nov 2019

DP World Raises $2.3Bln, Rings Nasdaq Bell

Photo: DP World

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of the global port operator DP World, rang the market-opening bell at Nasdaq Dubai to mark the listings of two sukuks (Arabic name for financial certificates) and two conventional bonds worth $2.3 billion.DP World will use the capital raised for debt refinancing and to fund growth opportunities.The listings, carried out during 2019, comprise two Sukuk of one billion US dollars and 500 million US dollars, and two conventional bonds of 500 million US dollars and 300 million US dollars.Sultan Ahmed Bin Sulayem…

25 Nov 2019

IMO 2020, China Output Pummels Asian Refinery Margins

AdobeStock / © 14KT Gold

Profits at Asian refineries are being buffeted by a combination of factors, chief among them uncertainty over how exactly new shipping fuel standards will play out and the rise of China as a product exporter.Refinery margins in Asia have been knocked to the lowest since the financial crisis in 2008 by some measures, as the industry grapples with the disparate factors.The return from processing a barrel of Dubai crude at a typical Singapore refinery was a loss of $1.19 a barrel in early Asian trade on Monday.

25 Nov 2019

Ecochlor Launches NanoVapor

Photo: Ecochlor

Ecochlor to represent NanoVapor in the maritime industry. The NanoVapor technology improves crew safety while significantly reducing time and any environmental pollution related to gas-freeing VOCs from cargo or bunker tanks. A single application can continue to suppress VOCs for days. The NanoVapor degassing process is more cost effective than traditional methods of cleaning these types of tanks.A NanoVapor unit consists of two components: a nano-suppressant liquid, TankSafe and a portable delivery unit, Model ST-1000.

25 Nov 2019

Timor-Leste Taps Damen for RoPax Delivery

Damen DRPa6716-artist impressions
(Photo: Damen Shipyards Group)

The Republic of Timor-Leste and Damen Shipyards Group signed a contract for a new RoPax Ferry 6716.The vessel will operate a route between the Timor-Leste capital Dili, the Oecusse enclave and the island of Ataúro, providing regular transportation of passengers, vehicles and goods on the north coast of the island.In a project co-financed by Timor-Leste and the Government of Germany, the RoPax Ferry 6716 is scheduled to begin operations in 2021. In preparation for the ferry’s arrival…

25 Nov 2019

KPI Bridge Oil: More 2020 Compliant Fuel Sold Than HSFO

Søren Høll (Photo: KPI Bridge Oil)

Søren Høll, CEO of KPI Bridge Oil, has disclosed that the group’s sale of 2020 compliant fuels now exceeds sale of high sulphur fuel oils for the first time.Høll comments: “We started fixing 0.5% sulphur contracts in flow ports at the beginning of Q2 and, as expected, the demand from business partners looking to secure availability of 2020 compliant fuels has steadily increased since. In this final stage of the switch to 2020 compliant fuels we’re experiencing significant price and availability fluctuations in most ports around the world as the market adjusts.

25 Nov 2019

Qatar, Kuwait Join U.S.-Led Naval Coalition

© namning / Adobe Stock

Qatar and Kuwait have told the United States that they will join a U.S.-led naval coalition in the Gulf which was established in response to a series of attacks on oil tankers, a U.S. military official said on Monday."Qatar and Kuwait have already told us they are going to join, so it is just a matter of time," U.S. Army Colonel John Conklin, chief of staff of the coalition, said.The coalition, based out of Bahrain, is known as the International Maritime Security Construct (IMSC) (Reporting by Idrees Ali Editing by Chizu Nomiyama)

25 Nov 2019

SHI to Pay $75 Mln to Resolve Bribery Case

© denissimonov / Adobe Stock

Samsung heavy industries Co Ltd has agreed to pay more than $75 million in criminal penalties to resolve a U.S. investigation of a scheme to pay millions of dollars in bribes to officials in Brazil, the U.S. Justice Department said on Friday.Samsung Heavy has admitted to paying about $20 million to a Brazilian intermediary between 2007 and 2013 knowing that parts of it would be paid as bribes to officials in Brazil's state-run oil company Petrobras SA for a contract which facilitated the sale of a drill ship by Samsung Heavy…

24 Nov 2019

Belgium Players Join Forces Hydrogen Transportation

Pic: Port of Antwerp

The climate target to reduce CO2 emissions in Belgium by 80% by 2050 compared to 2005 levels is a major challenge. Hydrogen has an important role to play in the mix of solutions to achieve results.That is why Deme, Engie, Exmar, Fluxys, Port of Antwerp, Port of Zeebrugge and WaterstofNet are joining forces. A joint study serves as a basis to coordinate delivery of concrete projects that shape the production, transport and storage of hydrogen.In a hydrogen economy, hydrogen is an important carrier for renewable energy to be used for electricity and heat production…

24 Nov 2019

SHI to Pay $75m in Fine: US Justice Dept

Pic: Samsung Heavy Industries Co.

South Korean shipbuilder Samsung Heavy Industries Co. (SHI) has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract.“Samsung Heavy Industries paid millions of dollars to a Brazilian intermediary, knowing that some of that money would be used to bribe high-level executives at Petrobras and obtain a lucrative shipbuilding contract,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division.

22 Nov 2019

Court Reviewing Bourbon Takeover Bids

(Photo: Bourbon)

Takeover offers for the assets and activities of French offshore services company Bourbon will be reviewed by the Marseilles Commercial Court next month, Bourbon said in a a company update.Four candidates have submitted an offer concerning assets and activities of BOURBON Corporation and/or BOURBON Maritime, Bourbon said.As part of the reorganization proceedings opened since August 7, 2019 to the benefit of the holding BOURBON Corporation and its sub-holding BOURBON Maritime,…

21 Nov 2019

InfraStrata Joins Forces with Navantia

Image: Navantia

InfraStrata, the parent company of Belfast shipyard Harland and Wolff, has entered into a memorandum of understanding (MoU) with Spanish shipbuilding company Navantia SA.Under the MoU, the companies plan to cooperate on offshore wind projects, among other things.Subject to completion of the acquisition of the assets of Harland & Wolff Heavy Industries Ltd and Harland & Wolff Group PLC by InfraStrata, the memorandum envisages utilizing these assets for the purposes of providing a range of services to Navantia…

21 Nov 2019

CSA Protests Malaysia's Scrubber Ban

Photo: Clean Shipping Alliance 2020

Members of the Clean Shipping Alliance 2020 expressed disappointment in regard to Malaysia’s recently-announced decision to prohibit the use of open-loop scrubbers in its coastal waters. The Malaysia Shipping Notice states that ships calling to Malaysian Ports are advised to change over to compliant fuel oil or change over to closed-loop/hybrid systems before entering Malaysian waters and ports.“We are disappointed in this announcement,” said CSA 2020 Chairman Capt. Mike Kaczmarek.

21 Nov 2019

GOGL Profits Up in Q3

Pic courtesy: Golden Ocean

The Bermuda registered, Norway based dry bulk shipping company Golden Ocean Group (GOGL) announced a net income of $36.7 million and earnings per share of $0.26 for the third quarter of 2019 compared with net loss of $33.1 million and loss per share of $0.23 for the second quarter of 2019.EBITDA stood at $81.1 million for the third quarter of 2019, compared with $21.5 million for the second quarter of 2019.Birgitte Ringstad Vartdal, Chief Executive Officer of Golden Ocean Management AS…

21 Nov 2019

CG Cutter Stratton Returns After 162 Days

Photo by Petty Officer 2nd Class Jasmine Mieszala 
U.S. Coast Guard Pacific Area

The crew aboard the U.S. Coast Guard Cutter Stratton (WMSL 752) is scheduled to return Friday to their home port of Alameda following a 162-day deployment to the Western Pacific Ocean.In the Western Pacific, the crew patrolled and conducted operations as directed, including enforcing United Nations Security Council resolutions against the Democratic People’s Republic of Korea by monitoring and gathering intelligence on vessels conducting ship-to-ship transfers in the East China…

21 Nov 2019

Interview: Boriana Farrar, Ship Owners Claims Bureau

Boriana Farrar is a familiar face in maritime circles, the Vice President and Counsel and a Senior Claims Executive and Business Development Director for the Americas at the Ship Owners Claims Bureau, Inc. managers of the American P&I Club.

Boriana Farrar is a familiar face in maritime circles, the Vice President and Counsel and a Senior Claims Executive and Business Development Director for the Americas at the Ship Owners Claims Bureau, Inc. managers of the American P&I Club. We met with her in her NYC office to discuss her path from her native Bulgaria to a top maritime professional position.When Boriana Farrar moved from her native Bulgaria to the United States in 2001, she did so to be close to family, her mother and her sister who had already established a life in the U.S., some 5,000 miles from her homeland.

21 Nov 2019

Naval Group Opens R&D Center in Singapore

Photo courtesy of Naval Group

Naval Group launched an R&D center in Singapore for strategic naval defense research topics.This international collaborative platform of exchanges located in Singapore will respond to a triple objective: boost innovation in new strategic domains such as Big Data and Artificial Intelligence, create a supply of innovative technologies for the regional market as well as supporting the joint effort led by both Singapore and France regarding R&D investments.With this center, Naval…

21 Nov 2019

SAFETY: Dollars & Sense

Credit: AdobeStock / Seafarer81

Make a Profit with a Safety Management System (SMS).Organizations in the maritime industry act no differently than any other successful global business unit. Major decisions are made with a certain underlying commitment – a commitment to customers, stakeholders and employees. That commitment can be oversimplified by stating the obvious, to generate revenue, but more specifically generate profits. Without profits, the company will not only fail to thrive, but will fail to survive.

20 Nov 2019

ZIM Back into Black

Pic: ZIM Integrated Shipping Services

Israeli international cargo shipping company ZIM Integrated Shipping Services continued to record improvements and to expand its global network to its customers confronting  challenging business environment.ZIM has reported a net profit of USD 5 million for the third quarter of 2019, after returning to black in the second quarter of the year. (Compared: Net loss of $6.6 million in Q3 2018).Eli Glickman, ZIM President & CEO, said: “In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019.

20 Nov 2019

Madagascar Mulls Maritime Policy

Pic: International Maritime Organization (IMO)

Madagascar is the latest country to benefit from International Maritime Organization (IMO)’s work promoting good maritime governance to support sustainable development.A workshop started the process to develop a National Maritime Transport Policy (NMTP) for the country took place in the capital, Antananarivo (13-15 November).Forty participants from across government departments took part and decided to complete a draft policy in early 2020.All relevant government entities and stakeholders would be involved in the process…

20 Nov 2019

MAN Launches 800 hp Light-Duty Workboat Engine

Photo: MAN Engines

The MAN D2676 LE426 will be available in the USA, Canada, and Mexico. It fulfils the latest US EPA Tier 3 Commercial standard and comes with keel cooling.MAN Engines is expanding its range of engines for light-duty workboats in North America by introducing an 800 hp (588 kW) inline-six engine. The D2676 LE426 will be available from the second quarter of 2020. It satisfies the EPA Commercial emissions standards and offers 70 hp greater output than the well-established, 730 hp D2676 model.

20 Nov 2019

North P&I Club Sets 7.5% General Increase

Pratap Shirke (Photo: North P&I Club)

Directors of North P&I Club have decided to set a general increase of 7.5% on P&I and FD&D premiums for the 2020/21 Policy Year. The increase is considered necessary to maintain the Club’s financial strength and stability in a climate of rising International Group Pool claims and premium erosion.According to North’s Chairman, Pratap Shirke, “The marine insurance landscape has been challenging, and during this time we have persisted with our strategy of preserving a balance between reliable financial management and our desire for controlled growth.

20 Nov 2019

Houthis Release South Korean, Saudi vessels

Yemen's Iran-aligned Houthi movement released three vessels and 16 people it had seized, South Korea's Foreign Ministry and a Houthi military source in Yemen said on Wednesday.The seizure on Sunday was the latest incident at sea around Yemen, where Saudi Arabia is leading a Western-backed coalition of Arab states against the Houthis, who control the capital and most population centres and have been accused of attacking shipping.Of the vessels freed on Tuesday, two were South Korean and one was Saudi Arabia-flagged, the South Korean ministry said in a statement, adding that the families of two South Koreans among the crew had been notified."The three ships were released after the necessary legal measures…

20 Nov 2019

Robotic Hull Cleaning Advances in Dutch Ports

Recent acceptance to operate in Rotterdam and proof of sustainability claims after more than 500 hull cleaning operations help propel ECOsubsea, the robotic hull cleaning system. Photo: Ecosubsea

Recent acceptance to operate in Rotterdam and proof of sustainability claims after more than 500 hull cleaning operations help propel ECOsubsea, the robotic hull cleaning system.The Dutch national regulatory body Rijkswaterstaat gave the Norwegian company the green light to start offering hull cleaning services to vessels at all Dutch Ports including Europe’s biggest port, the Port of Rotterdam, a move that is helping the firm solidify its position in Europe following similar permissions in Antwerp…

19 Nov 2019

Lineage Logistics Acquires Emergent Cold

Image: Lineage Logistics

Lineage Logistics Holdings, the world’s largest provider of temperature-controlled logistics solutions, announced it has signed definitive agreements to acquire Emergent Cold, the global cold chain services provider.This acquisition strengthens the Company’s leading port presence in the United States and signifies its entry into the Australian, New Zealand, and Sri Lankan temperature-controlled logistics markets, building on Lineage’s existing presence in the Asia-Pacific region.

19 Nov 2019

SQLearn, PAS Launch Sulfur Cap Course

Image: IMO

SQLearn and Prevention at Sea (PAS) have launched the new innovative e-learning course “IMO 2020 Sulfur Cap”The Greek e-learning solutions provider said: "This is the one-time stop to learn everything that IMO requires to achieve compliance with the IMO 2020 Sulfur Cap Legislation."The e-learning course covers all the aspects of the IMO 2020 Sulfur Cap Regulations and gives you the deepest knowledge on the upcoming maritime changes defined by IMO and strictly implemented on January 1st…

19 Nov 2019

Naval Dome Unveils Maritime Security Solution

Pic by  Naval Dome

Israel-based cyber security specialist Naval Dome has introduced a new software-based cyber protection that can be easily installed on all ship, port, or offshore OT systems, including navigational equipment, machinery control systems and cargo handling equipment.S-Marine Dome and S-Port Dome are aimed at those ship, offshore energy and terminal operators requiring instant protection without having to go through lengthy type approval processes or can no longer afford to wait for suppliers to upgrade or replace critical systems.Naval Dome Vice President…

19 Nov 2019

Shipbreaking NGO Wins FPSO Case

The North Sea Producer beached in Chattogram – © NGO Shipbreaking Platform

The High Court Division of the Supreme Court of Bangladesh declared the import, beaching and breaking of the infamous FPSO North Sea Producer illegal.The judgment was issued in a Public Interest Litigation (PIL) filed by NGO Shipbreaking Platform member organization Bangladesh Environmental Lawyers Association (BELA).The Court further noted with dismay the incessant violations of national and international laws by the shipbreaking industry, and passed several directions upon the government to regulate the sector in line with earlier rulings.Already in August 2017…

19 Nov 2019

IMO Traning on Maritime Policy

Pic: International Maritime Organization (IMO)

An effective maritime transport system is an important foundation for sustainable development. But it needs proper planning and a solid policy foundation.So, as part of its efforts to help deliver the global Sustainable Development Goals, International Maritime Organization (IMO) encourages and assists its Member States to devise national maritime transport policies.A seminar on maritime transport policy, delivered by IMO and the faculty of the World Maritime University is now…

18 Nov 2019

BW Offshore Completes Bond Issue

Image: BW Offshore

BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled for 4 December 2019.The existing NOK bonds have either been repurchased as part of the offering or will be called with settlement mid-January 2020.In combination with the USD 297.4 million convertible bond issue announced on 5 November 2019…

18 Nov 2019

Rhenus-Arkon-Shipinvest Orders 4 Vessels

Image: Rhenus

German shipping company Rhenus-Arkon-Shipinvest has placed orders for the first four environmentally-friendly vessels known as Hanse Eco Short Sea Coasters.The short sea bulkers are expected to be delivered during the second half of 2021, with the construction work scheduled to begin in February 2020.The vessels are based on the latest developments related to environmental protection, digitization and design.The ‘Hanse Eco’ fleet is the result of an initiative launched by Torsten Westphal, one of the founding members of Arkon Shipping.

18 Nov 2019

HMM Joins “Getting to Zero Coalition”

Pic: Hyundai Merchant Marine

South Korean shipping giant Hyundai Merchant Marine (HMM) has joined the Getting to Zero Coalition, a new alliance that aims to accelerate international shipping’s decarbonization.Getting to Zero Coalition is a powerful alliance of nearly 100 organizations within various industrial sectors to achieve significant reduction of greenhouse gas (GHG) emission in the maritime industry.“Climate change is a defining issue of our time and the scale of the environmental regulation we are facing is unprecedented.

18 Nov 2019

Oil Majors to Raise $27Bln in Selling Spree

Pic: Rystad Energy

Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.These companies are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, with the added benefit of pleasing shareholders who are calling for stricter capital discipline.“The expected transactions mean some of the majors are poised to exit certain regions…

18 Nov 2019

Yemen's Houthis Seize Vessel in Red Sea

Yemeni Houthi forces seized a "suspect vessel" in the Red Sea but will release it if it proves to belong to South Korea after legal procedures are completed, a senior Houthi official said on Monday.The official spoke after the Saudi-led military coalition fighting the Iran-aligned Houthis in Yemen since 2015 accused the group of "hijacking" a vessel that had been towing a South Korean drilling rig.The senior Houthi official, Mohammed Ali al-Houthi told Reuters: "Yemeni coast guards...are checking to see whether (the vessel) belongs to the countries of aggression or to South Korea, in which case it will be released after completing legal procedures. The crews are being well treated."(Reporting by Aziz El Yaakoubi Editing by Mark Heinrich)

18 Nov 2019

Shell: Spill Contained at Puget Sound Refinery Dock

An oil spill was contained at the Shell Puget Sound, Washington refinery's dock on Fidalgo Bay late on Friday, the company said in a statement on Saturday.The source of the crude spill was identified as a pressure relief valve on a barge and the source was secured, the company said, adding the spill volume was yet to be determined.About 20 gallons of oil was spilled when crews were transferring nearly five million gallons of oil from the barge to the refinery, local media reports said.Reporting by Sumita Layek

18 Nov 2019

Russia Returns Ukraine Naval Ships before Summit

Russia on Monday handed back three naval ships it captured last year to Ukraine, something Kiev wanted to happen before a four-way peace summit on eastern Ukraine next month in Paris.The handover, confirmed by the two countries' foreign ministries, occurred in the Black Sea off the coast of Crimea, which Russia annexed from Ukraine in 2014.Russia seized the ships in the same area in November last year after opening fire on them and wounding several sailors. Moscow said the ships - two small Ukrainian armoured artillery vessels and a tug boat - had illegally entered its territorial waters. Kiev denied that.Russia returned the sailors…

18 Nov 2019

Malaysia Bans Open-loop Ship Scrubbers

© Igor Groshev / Adobe Stock

Malaysia has prohibited the use of open-loop scrubbers by ships plying Malaysian waters, as Southeast Asia's third-largest economy joins the growing number of nations adopting new industry guidelines on reducing sea pollution.New regulations from the International Maritime Organisation (IMO) will require shippers to adopt more environmentally-friendly measures to manage their fleets, including reducing the sulphur content in fuels used in their vessels from Jan. 1 2020.In a notice issued to the shipping industry…

17 Nov 2019

AG&P Invests in Kanfer Shipping, Eyes LNG

Image: AG&P

Global downstream gas and LNG logistics company Atlantic Gulf & Pacific (AG&P) has made a strategic equity investment in Norway-based Kanfer Shipping.Kanfer is a developer of small-scale LNG sea transportation, maritime break-bulk solutions, floating storage facilities as well as LNG bunkering. Together, Kanfer and AG&P will make LNG more accessible and commercially viable for downstream customers in new and growing natural gas markets."Kanfer has captured the attention of the global LNG maritime infrastructure industry with its patented…

17 Nov 2019

EBRD Backs Mersin Port's $600Mln Bond

Image: ERBD

The European Bank for Reconstruction and Development (EBRD) said that it is backing the new US$ 600 million five-year bond issued by Mersin International Port, the operator of Turkey’s largest port.The Bank has invested US$ 90million in the issuance, helping attract a host of investors, despite a challenging market environment in Turkey.The proceeds of the bond will help refinance Mersin International Port’s 2013 bond, which matures in August 2020, will support ongoing operations…

17 Nov 2019

EIB Ends Financing for Fossil Fuel

Pic: ©Zbynek Burival/free

The European Investment Bank (EIB), the EU's financing department, will bar funding for most fossil fuel projects to become the world’s first ‘“climate bank”.The bank will end its financing of oil, gas, and coal projects after 2021, and will accelerate clean energy innovation, energy efficiency and renewables. EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030, it said.Over the last five years the European Investment Bank has provided more than EUR 65 billion of financing for renewable energy…

15 Nov 2019

Brittany Ferries Consortium Buys Condor

Pic: Brittany Ferries

Condor Ferries, an operator of passenger and freight ferry services between UK and France, has been sold to a consortium including the French shipping company Brittany Ferries.Brittany Ferries, in consortium with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF), has reached an agreement to acquire 100 percent of Condor Ferries from Macquarie Infrastructure and Real Assets (MIRA).Contracts have been signed and the deal is expected to be executed following scrutiny by relevant regulatory authorities.

15 Nov 2019

IMO Training on Fouling

Pic: International Maritime Organization (IMO)

Mediterranean countries underwent International Maritime Organization (IMO)  training on the impacts of anti-fouling systems and ships’ biofouling on the marine environment at a workshop in Valletta, Malta (12-14 November).The event raised awareness of IMO’s Anti-Fouling Systems (AFS) Convention and Biofouling Guidelines – what it means to implement them, and, in the case of the AFS Convention, the requirements and benefits of ratification and enforcement.Biofouling is the build-up of aquatic organisms on a ship’s underwater hull and structures.

15 Nov 2019

Sovcomflot Profits Up on Stronger Tanker Market

Pic: PAO Sovcomflot

Russia's state-owned tanker carrier Sovcomflot (SCF Group) reported improvements on both the top and bottom line in the third quarter benefiting from a stronger tanker market.The energy shipping company posted a net profit of  $26m as revenue increased in the third quarter.Sergey Frank, Chairman of the Board of Directors of PAO Sovcomflot, said: “We are satisfied with the Group’s performance over the third quarter. Sovcomflot steadily follows through on its strategy of increasing the share of large-scale industrial shipping projects in its portfolio."He added: "During the reporting period…

15 Nov 2019

Wärtsilä, PSA Marine Collaborate on Clean Energy Shipping

Photo: Wärtsilä

Wärtsilä and Singapore-based PSA Marine have agreed to collaborate in the co-creation of smart technologies for the marine sector. The focus will be on solutions that are human-centric and deployable. The Letter of Intent was signed on November 14 as part of the events celebrating the anniversary of the opening of the Wärtsilä Acceleration Center in Singapore.Specific collaboration areas envisioned include the use of electric or hybrid technologies that further the use of low-emissions energy and propulsion systems…

14 Nov 2019

Ulstein Debuts Zero-Emission Offshore Ship Design

Image: Ulstein

Ulstein Group unveiled a hydrogen-powered ship design that it claims is market-ready, offering zero-emission marine operations.Recently, DNV GL identified the five most promising alternative fuels for shipping, with hydrogen as the ultimate zero-emission solution. The first complete hydrogen fueled prospect has been put together by Ulstein Design & Solutions BV and Nedstack fuel cell technology BV. The ULSTEIN SX190 Zero Emission DP2 construction support vessel is Ulstein’s first hydrogen powered offshore vessel, featuring a Nedstack fuel cell power system.

14 Nov 2019

Cosco Acquires Stake in Greek Intermodal Firm

Photo: Cosco Shipping Group

OceanRail Logistics, part of the Cosco Shipping Group, acquired 60% of the Greek railway company Piraeus Europe Asia Rail Logistics (PEARL) as part of its plan to develop its intermodal transport services network.OceanRail specializes in sea-rail intermodal transport with the Piraeus Port as the hub and related logistics business, while PEARL is a Greece-based company engaged in railway operations.The China-Europe Land-Sea Express Line, which starts from the Piraeus Port in Greece and expands to the hinterland of Central and Eastern Europe…

14 Nov 2019

Hapag-Lloyd Doubles EBIT for 9 Months

Image: Hapag-Lloyd

German international shipping and container transportation company Hapag-Lloyd said that its earnings before interest and taxes (EBIT) in the first nine months of 2019 significantly increased to EUR 643 million (9M 2018: EUR 299 million).The group net result rose substantially to EUR 297 million (9M 2018: EUR 13 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) surpassed EUR 1.5 billion (9M 2018: EUR 812 million). The EBITDA increase of EUR 699…

14 Nov 2019

MOL Gets AiP for Containership Bow Wind-Shield

MOL General Manager Tetsuya Yamada, center. Image: MOL

Japanese shipping company Mitsui O.S.K. Lines (MOL) announced that, DNVGL issued an Approval In Principle (AIP) to MOL and Samsung Heavy Industries (SHI) for Bow Wind-Shield designed for Ultra-Large Container Carrier on 30th October, 2019.This newly developed Bow Wind-Shield reduces the wind resistance on hull body of while ship is running, and it is expected CO2 reduction up to about 2–4% owing to optimal design for Ultra-Large Container Carrier. This is based on the technology…

14 Nov 2019

Germany Mulls Onshore Power in Seaports

Ralf Nagel. Photo: German Shipowners’ Association

German federal government took a step to make onshore power in seaports more attractive; this week the environment ministers of the federal and state governments will be meeting in Hamburg to discuss onshore power initiatives in Germany.Against this backdrop, the German Shipowners’ Association (Verband Deutscher Reeder, VDR) welcomes plans to provide ships with onshore power while on berth in German ports.“We are united in our goal to further improve the climate and the air quality in the ports…

12 Nov 2019

10th Annual Maritime Risk Symposium at Suny Maritime

3-Day Event Gathers Industry Leaders to Focus on Risks to the Marine Transportation SystemFrom November 13-15, the 10th annual Maritime Risk Symposium (MRS) will take place at SUNY Maritime College bringing together academics, government, and commercial entities to discuss threats, challenges, and risks associated with the Marine Transportation System (MTS).Key industry leaders participating in the event include First Coast Guard District Commander Rear Admiral Andrew Tiongson, MARAD Administrator Mark “Buz” Buzby, and New York State Supreme Court Judge John Ingram. “A resilient Marine Transportation System is imperative to our Nation’s economic prosperity and national security…

13 Nov 2019

Hyundai Seeks EU's Ok to Acquire Daewoo

Image: Hyundai Heavy Industries

South Korea’s leading shipbuilding conglomerate Hyundai Heavy Industries (HHI) Group has submitted an application to the European Union for approval for its takeover of the compatriot shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME).According a Yonhap report,  HHI informed that the submission will be reviewed by anti-trust authorities at the European Commission, expecting the results of their call in 2020.Hyundai Heavy has been taking prerequisite steps since April to apply for the EU’s mergers and acquisitions approval.In March…

13 Nov 2019

Gasum on an Acquisition Spree

Pic: Gasum

Finland-based integrated gas company Gasum takes steps forward in its growth strategy by acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG."These acquisitions will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport," said a press note.The transaction will improve access to competitive natural gas and biogas…

13 Nov 2019

Sinopec Builds 100 Barge VLSFO Fleet

Pic: Sinopec

Chinese energy giant China Petroleum & Chemical Corporation (Sinopec) is planning to build a fleet of 100 barges over the next three years as part of its mission to become a major regional supplier of the IMO 2020-compliant very low sulphur fuel oil (VLSFO).According to a report from Reuters, this would be one of the top Asian refiner’s biggest shipping investments, Sinopec hopes the fleet would serve its stated ambition to become a top regional supplier of VLSFO.The fleet would include new orders of 50 vessels of 8…

13 Nov 2019

HHLA Reports 8.3% Growth in Revenue

Pic: © HHLA / Thies Rätzke

Hamburger Hafen und Logistik AG, HHLA, the company that operates three out of four of Hamburg’s container terminals, continued its positive performance in the first nine months of 2019.The total revenue was 1.04 billion euros, an increase of 8.3 percent, said the German logistics and transportation company.The operating result (EBIT) improved strongly by € 19.3 million, or 12.4 percent, to € 175.4 million. The positive effects of the initial application of IFRS 16 in the EBIT amounted to approximately € 10.6 million.

Maritime Reporter Magazine Cover Dec 2019 - Great Ships of 2019

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