Green Marine
UK Port Detains Five More Ships in November
Seven foreign flagged ships were under detention in UK ports during November 2015 after failing Port State Control (PSC) inspection, the UK Maritime and Coastguard Agency (MCA) reported. During November, there were five new detentions of foreign flagged vessels in a UK port. Two vessels remained und
Piraeus Container Terminal Bolsters Crane Capacity
Greek port operator Piraeus Container Terminal S.A. (PCT), owned by COSCO Pacific Limited, has ordered fifteen additional all-electric rubber-tyred gantry cranes (RTG) from Cargotec’s Kalmar. The cranes order, valued at approximately EUR 20 million (USD 21.6 million), is expected to be delivered in
Avance Gas Withdraws Bid for Aurora LPG
The offer period of Avance Gas Holding’s USD 200 million takeover bid to acquire all the issued and outstanding shares in Aurora LPG Holding ASA (Aurora LPG) expired on 16 December 2015 at 16:30 hours (CET). Following the expiry of the offer period, Oslo-listed Avance Gas noted in a stock exchange f
Spotted: Sea Giant Docks in Southampton
One of the biggest containerships in the world, the MSC Maya, owned by Swiss container line Mediterranean Shipping Company (MSC), made its maiden call at Associated British Ports (ABP) in Southampton on Tuesday. The 395.4m long vessel, which can carry a world-leading 19,224 containers, is the first
November Containership Reliability at 77.2 Pct
Containership reliability was broadly unchanged in November as the average on-time performance across all trades slipped by 0.8 percentage points against October to 77.2%, according to Drewry’s Carrier Performance Insight. Six of the 10 trades covered recorded month-on-month on-time improvements in
New Director Takes the Helm of Stolt-Nielsen
Oslo-listed transportation company Stolt-Nielsen Limited has elected a new director, Rolf Habben Jansen, Chief Executive Officer of Hapag-Lloyd AG. “With his extensive industry and business experience, Habben Jansen is a valued addition to the Board of Directors of Stolt-Nielsen Limited,” said Chair
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Peel Ports Group Snaps Up Great Yarmouth Port Company
One of the UK’s largest port groups Peel Ports Group is reported to have acquired Great Yarmouth Port Company Limited from International Port Holdings. The value of the deal is said to be GBP 50 million (USD 74.9 million), local media report. International Port Holdings decided to sell its stake in
Maersk Becomes Part of WTO’s Trade Facilitation Alliance
Danish shipping and offshore energy conglomerate Maersk Group has joined the Global Alliance for Trade Facilitation under World Trade Organization (WTO). The new alliance was announced at the 10th WTO Ministerial Conference in Nairobi, Kenya and consists of governments, international companies and t
MSI: Earnings in Dry Bulk Market to Rebound in Q2 of 2016
As Capesize asset values hit their 16-year lows amid weak dry bulk fundamentals and partly driven by very weak sentiment over the near-term future for vessel earnings, the first quarter of 2016 is expected to be characterized by a seasonal lull keeping earnings down. However, freight rates are expec
Marine Port and Service Industry to Grow 4.7 Pct
The global marine port and service industry is forecast to grow at a Compound Annual Growth Rate (CAGR) of 4.7% from 2015 to 2020, according to a new report from Research and Markets. The major drivers of growth for this industry are set to be high growth of the marine freight transportation industr
Business as Usual for UK’s Dolphin Geophysical Ltd
The UK processing and multi-client operations of Dolphin Geophysical Ltd continue to operate as normal, despite the Norwegian entities of Dolphin Group ASA together with its subsidiary Dolphin Geophysical AS having filed for bankruptcy on Monday 14 December, the UK entity said. “The UK entity Dolphi
Rotterdam Offers Discount for LNG Bunkering
The Dutch port of Rotterdam is introducing an additional incentive to bunker liquefied natural gas (LNG) through which seagoing vessels will benefit from a 10% discount on gross seaport dues. Rotterdam has reserved a total of EUR 1.5 million (USD 1.6 million) for this incentive, which is expected to
Crude Tanker Market Facing Downturn in Second Half of 2016
Further upside volatility is expected in the crude tanker market in 2016 as a result of OPEC’s (Organization of the Petroleum Exporting Countries) decision to effectively maintain oil output levels, Maritime Strategies International reported in its latest Tanker Freight Forecaster. Average VLCC spot