Green Marine
IUMI Calls for Action on Rising Cargo Theft
Marine insurer IUMI has called for the introduction of a range of measures to help reverse the worrying increase in cargo theft globally. During the IUMI conference in Berlin, the association published a position paper which points out that cargo theft is no longer confined to high-value goods and t
Update: Greek Ports Wrap Up Another Strike
The previously announced 24-hour general strike at Greek ports and terminals, which started at 6:00 yesterday morning, has concluded today, Inchcape Shipping Services (ISS) informed. “ISS has checked the latest information with its Piraeus office in Greece which confirmed that the strike finished on
No Slowdown for the Cruise Industry
The cruise industry shows no signs of slowing down, with nearly 24 million passengers expected to sail in 2016, a dramatic increase from 15 million just 10 years prior (2006), Cruise Lines International Association (CLIA) said in its 2016 State of the Cruise Industry Outlook. CLIA also revealed that
Dry Bulk Market to Regain Profitability in 2017
The struggles of dry bulk shipping companies to recover their costs are to resume for at least the following years as the gloomy outlook for the dry bulk shipping market continues. Ship owners’ efforts to recover their costs by downsizing their vessel holdings is expected to enable oversupply to red
CMA CGM Nets Financing for NOL Takeover
Efforts of the French container shipping company CMA CGM to secure financing for the purchase of Singapore-based Neptune Orient Lines Limited (NOL) seem to have borne fruit. Namely, the company is reported to have received “firm commitment” from lenders HSBC, BNP Paribas and JPMorgan to bankroll the
IMO Cautions Members against Red Tape
The International Maritime Organization (IMO) has adopted a resolution on better regulation at its assembly meeting in London as it targets reduction of administrative difficulties. The regulation sets the overall frame for how to formulate regulation and establishes that all member states must care
Alphaliner: Worst Not Over for Container Shipping
Container shipping companies’ operating margins are forecast to worsen further in the fourth quarter, with the majority of them expected to turn in negative results, according to Alphaliner. The decreasing of margins follows the downward trend from the third quarter of 2015 which saw weak cargo volu
Greek Ports Brace for a New Strike
Vessel movements at many Greek ports and terminals are expected to be affected by the announced 24-hour general strike in Greece on 3 December, Inchcape Shipping Services (ISS) informed. The public and private sector strike action is scheduled to start at 06:00 local time on 3 December and end at 06
Amsterdam and Rotterdam Strengthen Bond
Port of Amsterdam and Port of Rotterdam, two largest ports in the Netherlands, have renewed their partnership agreement by another five years. “This partnership enables us to create value for our ports while at the same time improving the international competitive position of the Netherlands,” said
Ecoslops Sells First Recycled Marine Fuel
Ecoslops, a French technology company that transforms maritime transport oil residues (slops and sludges) into new recycled marine fuels, has completed its first sale of marine fuel and the importing of a new shipment of slops. “This first sale of marine fuel obtained from the recycling of oil resid
Globus Maritime in the Red
Greek dry bulk shipping company Globus Maritime Limited reported that the total comprehensive loss for the third quarter of the year 2015 amounted to USD 2.5 million, compared to total comprehensive income of USD 0.2 million for the same period last year. The company also added that it recorded a 49
Spotted: Isaac Newton Sails to Its Owner
A multipurpose vessel named Isaac Newton, designed for a range of specific marine tasks and built by Croatian Uljanik shipyard, was delivered to its owner, a Luxembourg-based dredging company Sofidra, a part of the Jan De Nul Group. This vessel features a length of 138 m and a width of 32 m. The 13,
Drewry: Methanol Carriers to Grow in Size
The average size of a methanol ship is expected to increase with the addition of new methanol production capacity by the US and Middle East over the next two years, UK shipping consultancy Drewry believes. “The average size of a methanol ship is expected to increase considering the long-haul distanc
Maersk Line Forges Ties with MacGregor
Danish container shipping company Maersk Line, part of the Maersk Group, has teamed up with MacGregor, part of Cargotec, on the development of the next generation of container securing systems. MacGregor, a provider of cargo and load handling solutions, and Maersk have had a cooperation within secur