Shipping News

Blank Rome’s maritime attorneys have represented clients in some of the largest maritime casualties in the last 20 years, including the Staten Island Ferry allision with a maintenance pier in New York, the blow out and eventual loss of the Deepwater Horizon drilling rig in the Gulf of Mexico, the sinking of the El Faro during Hurricane Joaquin, and the collision between the Navy Destroyer USS John S. McCain and the tanker ALNIC MC in the Singapore Strait. These casualties have resulted in the catastrophic loss of life…

German container shipping line Hapag-Lloyd said on Tuesday its business in Asia was "overall stable," although the coronavirus outbreak had extended the traditionally slack period around China's Lunar New Year holiday.China's efforts to control the virus had extended the normal factory shutdowns for the New Year festivities to anywhere between Feb. 8 and Feb. 14, depending on the region, a spokesman for the world's fifth largest container carrier told Reuters.However, Hapag-Lloyd's fleet was operating largely as normal…

The Baltic Exchange's main sea freight index rose to a two-week high on Tuesday, as higher rates for panamax and supramax vessels more than offset the capesize segment lingering in the negative zone.The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 16 points, or 3.7%, to 450, registering its biggest one-day percentage gain since late November.The capesize index gained for a second straight session, up 30 points at -257."Capesize is gradually gaining because there are other geographies besides China…

Shipping group Golden Ocean warned on Tuesday its profit would be hit by a slowdown in demand due to the coronavirus outbreak in China, sending its shares down more than 3% in early trade.The world's second-biggest economy has seen business activity curtailed in recent weeks as it battles to combat the spread of the virus, pushing down shipping rates for commodities such as coal and iron ore used in Chinese factories."The market is currently presenting a challenging scenario that will impact our results in the near term…

The global marine and offshore engineering group Sembcorp Marine and Singapore's Agency for Science, Technology and Research (A*Star) have agreed to deepen their research and development (R&D) collaboration for the offshore marine and clean energy sectors.By signing a master research collaboration agreement (MRCA) the two parties aim to “shorten the development cycle and time-to-market of new offshore, marine and clean energy solutions achieved through their research efforts”.Sembmarine and A*Star will set up Joint Lab@TBY…

German energy company E.ON, Rotterdam Port Authority and DeltaPort Niederrheinhäfen are partnering up to create conditions conducive to switching inland shipping in Germany and Europe from diesel to battery and/or hydrogen drives.The companies agreed in Essen to develop an infrastructure so that freight and passenger ships with climate-neutral propulsion can exchange battery containers or refuel hydrogen in the ports.The partners' goals include climate protection, improved air…

Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1,003m (USD $270 million)  in 2019, an increase of 12.4 percent, as compared to QR892m posted for the same period in 2018.The 2019 net profit is Nakilat’s highest profit recorded since its inception, said the Qatari shipping and maritime company.Nakilat's robust financial performance is primarily attributed to operational excellence in the management of its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) vessels…

The Port of Kiel commissioned Siemens to build Germany’s largest shore power system to date which is capable of supplying two ships simultaneously.With a power of 16 megavolt amperes (MVA), the Siharbor solution will supply two ships simultaneously with certified eco-power, for the first time. This will reduce annual CO2 emissions by more than 8,000 tons.The system is expected to go into test operation within the 2020 cruise ship season. Maritime shipping plays a special role in Kiel. The port is the point of departure for cruises and has ferry connections to the Baltic states and Scandinavia.

Singapore shipping company Pacific International Lines (PIL) has announced that it is quitting the Transpacific market as part of an optimization strategy. The shipping line has been participating in a half-dozen trans-Pacific services, mostly in slot-charter arrangements.PIL’s last Transpacific sailing will be in March 2020.The company said it has taken the decision as part of a wider strategic review of its business. Henceforth, PIL will focus on further strengthening its position in the North-South Trade such as Africa…

Diana Shipping announced that it has received a notice of cancellation of the Memorandum of Agreement (MoA), between a separate wholly-owned subsidiary and an unaffiliated third party, to sell the 2005-built Panamax vessel “Calipso”, as previously announced.The global shipping company specializing in the ownership of dry bulk vessels said in a press note that the buyers elected to exercise their right to cancel the Contract as a result of vessel’s missing the cancelling date stipulated therein…

Deficiencies in the cargo stowage arrangement ultimately caused the YM Efficiency to lose 81 containers while sailing in heavy seas off Australia in June 2018, the Australian Transport Safety Bureau's (ATSB) investigation revealed.The Liberian-flagged vessel was en route from Taiwan to Sydney when it suddenly rolled heavily in strong gale force winds and rough seas, causing the ship to lose 81 containers overboard and another 62 containers to be damaged. The containership, operated by Taiwan shipping company Yang Ming Marine Transport Corporation…

The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations.More than 1,360 people have died from the coronavirus in China, which has disrupted the world's second largest economy and shaken energy markets, with international benchmark Brent crude oil down 15% since the beginning of the year.Major international energy forecasters expect demand to fall in this quarter…

The Panama Canal will begin collecting a freshwater surcharge from ships using the waterway from 15th February, as part of actions to address a scarcity of rainfall after the surrounding area recorded its fifth driest year of the last seven decades in 2019.The charge will be set at $10,000 for any vessel over 125 feet long. There will also be a variable surcharge based on the level of the Gatun Lake at the time of transit.The International Chamber of Shipping (ICS) calculate this move will increase costs to ships passing through the Panama Canal by up to 15%.

While owners have long recognized the link between clean hulls and lower fuel costs, lack of reliable data has slowed investments in optimizing hull performance. But with improved sensor technologies and data analysis tools, hull performance is getting a second look. Owners seeking to lower fuel costs and comply with pending regulations on emissions and invasive species often look to equipment manufacturers to meet their needs. From new efficient engine designs to alternative fuels, scrubbers to ballast water treatments systems, owners face some expensive decisions.

The world’s first adaptive ferry transit conducted during normal service took place last week on a vessel fully loaded with passengers and vehicles, demonstrated fully automatic control from dock to dock, Kongsberg Maritime  announced. The landmark crossing, a key step forward in the integration of autonomous technology into everyday shipping operations, was made possible by collaboration between shipping company Bastø Fosen, KONGSBERG and the Norwegian Maritime Authority (NMA).The…

French shipping giant CMA CGM is joining forces with Energy Observer within a project focusing on testing the potential of hydrogen as a marine fuel.Energy Observer, formerly a racing catamaran, is now an experimental platform for tomorrow’s energy sources. It is sailing round the world in order to speed up development of the innovative solutions for the environment.This partnership with CMA CGM deals with the development of cleaner and more sustainable energies to eliminate CO2 emissions, greenhouse gases and air pollutants.

Mammoet, a Dutch company specialized in engineered heavy lifting and transport of over-sized and heavy objects, said that its  team has successfully completed the second phase of the relocation of several shipping container cranes for Hutchison Ports ICAVE as part of a planned port expansion in Veracruz, Mexico.Mammoet used 56 axle lines of SPMT to transport two ship-to-shore (STS) cranes and ten rubber-tired gantry cranes (RTGs). The completion of the crane relocations has increased the port’s capacity to more than 95 million tons.

Belgium's tanker shipping company Euronav NV has entered into an agreement for the acquisition through resale of three very large crude carrier (VLCC) newbuilds.The three VLCCs are currently completing construction at the DSME shipyard in South Korea and are being acquired for an aggregate purchase price of USD 280.5 million or USD 93.5 million per unit.All three vessels will be fitted with Exhaust Gas Scrubber technology and Ballast Water Treatment System.The vessels are due…

Diana Shipping announced that through a separate wholly-owned subsidiary, it has entered into a time charter contract with BHP Billiton Freight Singapore Pte. Ltd., for one of its Newcastlemax dry bulk vessels, the m/v Philadelphia.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$14,500 per day, minus a 5% commission paid to third parties, for a period of minimum 14 months to maximum 17 months.The charter commenced on February 5, 2020.

The Dutch registered container ship OOCL Rauma lost at least five containers on Tuesday afternoon, 25 miles north of Ameland off the coast of the Netherlands, said Netherlands Coastguard.1,425 TEU vessel was sailing from the Port of Kotka in Finland to the Port of Rotterdam.According to local media reports, the container ship had some trouble sailing due to the heavy weather conditions, which led to some containers falling into the sea.The authorities said that five containers — containing paper and cardboard…

Global ship deliveries have been hit as yards in China struggle to get fully back to work as a result of the coronavirus outbreak, with one shipbuilder saying it could not deliver two vessels.The coronavirus has caused chaos in Asia and beyond with flights suspended, businesses disrupted and entry restrictions imposed by governments trying to ward off its spread. The global shipping trade has also been hit.China's Jiangsu New Times Shipbuilding, which has an annual production capacity of 5 million deadweight tonnes (DWT)…

A.P. Moller - Maersk has appointed Patrick Jany as its new chief financial officer, effective May 1, 2020.Jany, a German citizen, joins the world's largest shipping company as CFO and a member of the executive board after more than two decades with Swiss chemicals company Clariant, where he's been CFO since 2006. Prior to his role as CFO, he held several leadership positions within finance, general management and corporate development in Clariant in Germany, Mexico, Singapore, Indonesia and Spain.“I am pleased to welcome Patrick Jany to A.

Malaysia International Shipping Corporation Berhad (MISC) announced that its wholly-owned subsidiary, AET Tanker Holdings Sdn Bhd, has been awarded long-term charter contracts for three newbuilding Suezmax DP2 Shuttle Tankers from Petróleo Brasileiro S.A. – Petrobras of Rio de Janeiro, Brazil.AET, the petroleum shipping unit of MISC and specializes in the global ocean transport of petroleum, will own and operate the newbuilding Suezmax DP2 Shuttle Tankers for operations in Brazilian…