Shipping News

What is maritime development and why is it important? Isn’t one of the biggest challenges the failure to appreciate the value of the maritime sector? These are the questions being raised by International Maritime Organization (IMO) at the Growing Blue Conference in Maputo, Mozambique (23-24 May).“Ultimately, more efficient shipping, working in partnership with a port sector supported by governments, will be a major driver towards global stability and sustainable development for the good of all people” said IMO’s Chris Trelawny…

Danish container shipping and logistics giant AP Moller – Maersk has closed the first quarter of 2019 with a 33% increase in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.2bn while revenue grew by 2.5% to USD 9.5bn compared to Q1 2018. Operating cash flow improved significantly to USD 1.5bn and free cash flow was USD 3.5bn, including sale of shares in Total S.A.“We had a good start to 2019. In Q1, revenue grew by 2.5%, operating earnings improved by 33% and cash flow from operations doubled to USD 1.5bn.

Dutch Port of Rotterdam has sent the hyper-smart Container 42 on a two-year data-collecting mission around the world.During this journey, the container – which houses an array of sensors and communications equipment – will be measuring changes in parameters like vibration, slope, position, sound, local air pollution, humidity and temperature.The unit has also been fitted with solar panels, which can be used to determine how much power a container can generate during a given journey by ship, train or truck. The container will be making its first stop in early June, in Munich, Germany.

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market…

The marine renewable energy technology company Eco Marine Power (EMP) announced that its Aquarius MAS + Solar solution has been installed on the large general cargo ship MV Panamana.The  Japan-based EMP said in a press release that this installation was carried out by the ship’s crew with remote support provided by Zeaborn Ship Management (Singapore) Pte. Ltd. and EMP from Japan.Over the next few weeks the solar power equipment will be integrated with EMP’s Aquarius Management & Automation System (MAS) and then put into service.MV Panamana is a 54…

The crew of the MSC Matilde containership “were disembarked from the vessel as a precaution” after it started listing heavily during the night at the Port of Liverpool, UK.The container vessel was listing outside Gladstone Dock in Liverpool at about 02:00 BST yesterday (May 24). It started tilting in the River Mersey, at the UK port’s Liverpool2 container terminal."As a precaution, to ensure the safety of the captain and crew, they were disembarked from the vessel. There were no reports of injuries…

The United States on Friday announced the deployment of 1,500 troops to the Middle East, describing it as an effort to bolster defenses against Iran as it accused the country's Revolutionary Guards of direct responsibility for this month's tanker attacks.President Donald Trump's administration also invoked the threat from Iran to declare a national security-related emergency that would clear the sale of billions of dollars' worth of weapons to Saudi Arabia, the United Arab Emirates and other countries without required congressional approval.The actions were the latest by the Trump administration as it highlights what it sees as a threat of potential attack by Iran…

MISC has announced its financial results for the financial period ended March 31, 2019.Financial Highlights:Group revenue for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group profit before tax for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group Revenue, Operating Profit and Profit Before Tax for the Quarter Ended March 31, 2019Group revenue for the quarter ended March 31,2019 of $544 million was 12.7% higher than the corresponding quarter’s revenue of $482 million.

A.P. Moller-Maersk, the world's largest container shipping company, warned on Friday that trade tensions and an economic slowdown are slowing growth in global freight.Maersk, which is seen as an indicator of global trade patterns, cut its forecast for global growth in container traffic this year due to the trade dispute between the United States and China."The recent escalation of the trade war induced by an increase in tariff rates and threats of implementing additional tariffs could take global container trade growth to the lower end of the 1-3% interval (range)…

Dutch shipping company Eemswerken (Werkendam) has concluded its service contracts with Radio Holland Netherlands, covering its entire fleet of cargo vessels.Radio Holland Netherlands was founded in 1916 by a number of leading Dutch shipping companies with the purpose of installing, maintaining and operating maritime radio stations.The service contracts include the SOLAS annual surveys, special regional service rates and on-demand services of the Navigation and Communication equipment on board, around the world.

North American liquefied petroleum gas  (LPG) export capacity is forecast to grow considerably over the next two years, said Dorian LPG.According to the LPG shipping company, bolstered by additional volumes out of Marcus Hook in the northeast U.S. due to the startup of the Mariner East 2 pipeline, U.S. exports reached their highest levels for the first calendar quarter of 2019 in January with over 3 million metric tons of LPG exported during the month.However, significant reductions in U.S.

Danish shipping company Norden has signed a three-year contract of affreightment (COA) with Qatari chemical firm Qatar Vinyl Company, commencing in the second quarter of 2019.Qatar Vinyl Company, a subsidiary of Qatar Petrochemical Company, produces various polymers and chemicals. The agreement is for the shipment of salt from West Coast India to Qatar, where the salt will be used for chemical production.The shipping company operating in the dry cargo and tanker segment worldwide…

South Korean shipbuilding giant Hyundai Heavy Industries (HHI) said  it received an order to build two liquefied natural gas (LNG) carriers for an unidentified European shipping company.Yonhap news agency quoted the shipbuilder saying that the order is valued at 463 billion South Korean won ($390 million), bringing its total number of orders to five so far this year.The 180,000 cbm vessels, ordered by an undisclosed European owner, are scheduled for delivery by the end of June 2022.According to the report…

French liner carrier CMA CGM has announced a new order for 50,000 Traxens trackers, aiming to fit containers with connected trackers to provide greater traceability – monitoring location, temperature, shocks, and when container doors are opened.As a structuring shareholder and the first company to have invested in Traxens in 2012, CMA CGM participated in the development of the solution by testing it for several years, then launching it commercially in 2018."Thanks to the order of 50…

Norwegian offshore service and supply ship shipping company Solstad Offshore has been awarded contracts for two platform supply vessels (PSVs) in Norway.Solstad said in a press release that Wintershall Dea had awarded a 10-well firm plus options contract to support its West Mira rig drilling campaign. The contract duration is estimated to be 30 months.Commencement of the contract will take  place in August/September 2019, and will be covered by the large PSVs Normand Falnes ((VS 485 MkII…

As the global marine industry aggressively moves to reduce emissions from ships, and Norway in particular has thrown down the gauntlet of zero emission cruise ships in certain fjords along its scenic coast, Norwegian cruise ship operator Hurtigruten has signed a 7.5-year deal to buy liquefied biogas (LBG) made from dead fish and other organic waste to help power its vessels.Under the contract with Biokraft, Hurtigruten ships will start receiving near-daily supplies of LBG, with…

Norway on Jan. 1, 2026, will begin a ban on cruise ships powering through the Unesco-listed heritage fjords on anything but zero-emissions propulsion. For now, that means battery power, but few of the 190 cruise ship calls to these fjords are made with that kind of electro-chemical fuel on board. From now until 2026, you can still cruise the fjords on a closed-loop, or in-line, scrubber system, but few cruise ships have these installed. The new rules mean cruising elsewhere, finding…

Jotun unveiled the next-generation of its SeaForce biocidal antifouling range, with three new products featuring Hydractive technology. Jotun originally launched its SeaForce range in 2004. Since then it has recorded more than 27,000 vessel applications worldwide.“SeaForce is a cornerstone portfolio in our marine coating range,” said Dr, Erik Risberg, Global Marketing Director, Jotun Marine Coatings, “but we felt the time was right to push its performance further, providing next level protection for our customers while consolidating its position within the marketplace.

Shipowners, who are facing one of the biggest changes in the oil industry in decades, are seeing more fuels that will be compliant with new rules on sulphur emissions from ships, but some say the way forward is far from clear.The United Nations shipping agency the International Maritime Organization (IMO) will from January 2020 limit the sulphur content in fuel ships use to 0.5%.With the exception of some zones around northwest Europe and North America known as Emission Control Areas where maximum sulphur content is restricted to 0.1% sulphur, the current global cap is 3.5%.The sulphur switch will be a mammoth task as it requires adapting the 300 million tonne a year bunker fuel market…

Finnish maritime software provider NAPA has become the first service provider for ClassNK-owned Ship Data Centre’s Internet of Ships Open Platform (ShipDC IoS-OP).NAPA will provide ship performance analytics and voyage optimisation capabilities for the universal platform developed to share vessel operational data between stakeholders.The aim of the ShipDC IoS-OP is to create a new, digital maritime cluster by securely minimizing the costs of data ownership and portability for owners and operators…

Brazil Minister of Foreign Affairs, Ernesto Henrique Fraga Araujo met with the global port operator DP World Group's Chairman and CEO, Sultan Ahmed bin Sulayem in the Brazilian capital, Brasilia this week.They discussed social reform, a stable and efficient regulatory framework to attract investors alongside public private partnerships to encourage foreign direct investment (FDI). The meeting preceded Mr. Bin Sulayem’s discussions with President Jair Bolsonaro during the visit.DP World Santos…

Greek shipping company Star Bulk Carriers Corp reported a net loss of $5.3 million, or $0.06 loss per share for the first quarter ended March 31, 2019.Net income for the first quarter of 2018 was $9.9 million, said the global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector."By the end of May 2019 we are on track to have 40 vessels scrubber fitted. We expect to have a fully scrubber fitted fleet by January 2020. Because we expect 2020 to be a more profitable year…

Japanese shipping giant Mitsui O.S.K. Lines (MOL) announced that it will participate in the Task Force on Climate-related Financial Disclosures (TCFD) Consortium, which was established to provide a forum for discussions among corporations and financial institutions that agree with "TCFD recommendations"."This aims to ensure that companies factor in climate change-related risks and opportunities when they disclose their strategies to investors," said a press note from MOL.The final report…