Israeli shipping company Zim Integrated Shipping Services (ZIM) has wrapped up the first pilot of paperless Bills-of-Lading based on blockchain technology. During the trial, conducted in cooperation with Sparx Logistics and Wave Ltd., the participants issued, transferred and received original electr
The National Shipping Company of Saudi Arabia (Bahri) is looking to sell a part of its 30.3% stake in Bermuda-based liquefied petroleum gas transporting and trading firm Petredec Limited. As part of the deal, Haydock Holdings Limited, the other partner in Petredec, will also sell part of its 69.7% s
Japan’s Astomos Energy Corporation and oil company Kuwait Petroleum Corporation (KPC) have agreed to further study the use of liquefied petroleum gas (LPG) as ship bunker fuel. The parties reached a Memorandum of Understanding (MOU) with the aim to enhance cooperation, share and research information
The recovery of the tanker market forecast to start next year and give the much-needed boost to company earnings seems to be far-off due to the lingering effect of tonnage oversupply. According to Fitch Ratings, a glut of new vessel deliveries and limited scrapping of older ships means the global ta
Hong Kong-based port operator Hutchison Ports has been awarded a concession to operate Ahmed Bin Rashid Port in Umm Al Quwain (UAQ), a key entry-exit point for container, general, RoRo and bulk cargo in the northern United Arab Emirates (UAE). As informed, the port operator will run the four-berth f
The closure of Yemeni ports by the Saudi-led coalition is heating up tensions in the region as Houthi movement threatens to target commercial ships in the region as a sign of retaliation. “The battleships and oil tankers of the aggression and their movements will not be safe from the fire of Yemeni
Israeli cyber security specialist Naval Dome and UK’s Lloyd’s Register (LR) have signed a Memorandum of Understanding (MoU) aimed at establishing standards and guidelines for maritime cyber defence. As part of the collaboration agreement, LR will carry out a series of pilot tests using the company’s
Poor stevedoring practices probably contributed to an accident, which took the life of one seafarer, after an unsecured cargo stack collapsed from the bulk carrier Graig Rotterdam in December 2016, UK’s Marine Accident Investigation Branch (MAIB) said. The accident occurred on December 18, while the
The Port of Aden has been excluded from the temporary closure of all sea, air and land ports in Yemen imposed earlier this week by the Saudi Arabia-led coalition. The decision was attributed to the fact that the port falls under the direct management of the Yemeni government and direct control of th
Philippine terminal operator International Container Terminal Services (ICTSI) saw a 5 percent rise in net income reported for the first nine months of the year. Net income attributable to equity holders stood at USD 149.3 million, against USD 141.9 million earned in the same period last year. The i
Over the past 30 years, there has been a constant shift toward registering container carriers in countries dubbed as tax havens, according to the findings released by SeaIntel Maritime Analysis. The container shipping market data provider said that it has used the report: “Tax Havens: International
The International Chamber of Shipping (ICS) has a vision of zero CO2 emissions from shipping in the second half of the century, ICS Director of Policy, Simon Bennett said while speaking at United Nations Climate Change Conference (COP 23) in Bonn. “We are confident this will be achievable with alter
Hutchison Ports has inked a 25-year concession agreement to develop and operate a container terminal at Saqr Port in the emirate of Ras Al Khaimah (RAK), located in the northern part of United Arab Emirates (UAE). As informed, the terminal will operate under the name Hutchison Ports RAK. Hutchison P
The return to permanent profitable freight rates in the dry bulk sector is still way off, however, there has been a slight fundamental market improvement, according to BIMCO’s latest market overview. Capesize ships have been in profitable territory earning above USD 15,300 per day since August, and
